Blackout Coming...Andrew Gordon says cap & trade is likely to cause another energy crisis...details cutbacks in oil development, noting OPEC has cut back production by 2.2 billion barrels a day, UAE has put off plans to expand oil production by 1 million barrels a day, Saudi Arabia has delayed two $10-$20 billion refining projects (and may cancel them altogether), Russia’s biggest oil company,Gazprom, has slashed production spending by 24 %, Venezuela, Nigeria, Malaysia and other national oil companies have cut back on their capital spending, Statoil, EnCana, Petro-Canada, Suncor, Imperial Oil, & Royal Dutch Shell have all delayed or cancelled major projects in Canada’s vast but expensive oil sands... quotes head of Conoco Phillips as saying that government intervention in the energy market "has an impact on the willingness of companies to pour billions into the development of new projects". Total’s CEO Christophe de Margerie says that a rise in demand while supply is constrained will unleash oil prices again... http://www.howestreet.com/articles/index.php?article_id=10080