May 12, 2006 3:03PM

Caution: Supply and Demand at Work

According to a report released yesterday by the International Energy Agency, high oil prices are forcing analysts to make sweeping cuts in their forecasts regarding energy demand and substantially revise upward their forecasts regarding energy supply. Apparently, producers and consumers aren’t the mindless economic zombies that politicians would have us believe.

Who knew this crazy invisible hand thing might be legit?