DaveinHackensack

Recent Oil Spike: 'Irrational Exuberance'?

icandoitdon,

Thanks. I had found his prepared testimony already (which is worth reading), but I hadn't seen any transcript of the Q&A yet. I'd seen the McClatchy story as well. It still makes me wonder what the question and context was. McClatchy's prefacing sentence,

"Most of the oil chiefs acknowledged that when measured through the prism of a pre-2005 world, today's oil prices should be far lower."

Doesn't make much sense to me, which is why I have been trying to find a transcript to see what the actual question was.

Recent Oil Spike: 'Irrational Exuberance'?

<I>"John Hofmeister, president of Shell Oil said that the “proper” range for oil should be somewhere between $35-$90 a barrel.</I>

He said this to whom, in response to what question? Can you provide any context for this quote? I assume it came from the Senate Judiciary Committee Hearing yesterday, but I'm having a devil of a time finding a transcript of that hearing. Please post a link with the full question and answer if you have it. Thanks.