I am on the most recent “Glenn and Helen” Instapundit podcast, discussing oil prices with Glenn, Helen, and Roger Stern from Johns Hopkins.
One of the several things I didn’t mention that I wanted to was the effect of exploiting the Canadian oil sands. Oil prices above $30-35/barrel make it economical to extract oil from the oil sands in Alberta. That fact tempers some of the “OPEC market power” that Stern’s paper analyzes.
In any case, it was a fun discussion.