"Drilling won't help for many years"

[BamaGrad03 0]

But another force could be at work in the background. Last week various analysts said there was talk that Mexico, the world's fifth largest oil producer, was hedging its bets - the country was said to be signing contracts to deliver oil several years into the future at today's prices. Essentially, it was betting oil prices have peaked.

Major oil producers and speculators are already hedging for years down the road. You don't think their hedging changes if there's gonna be an extra few billion barrels of oil available during the time for which they are currently buying futures?

http://money.cnn.com/2008/07/17/news/inter...sion=2008071717

This link isn't from the huffington post...does it still count?