According to Lucian Pugliaresi, president of the Energy Policy Research Foundation, a Washington-based group that analyzes oil economics, a "perfect storm" of events within the last five years--including political instability in Iraq, Venezuela and Nigeria--has undermined production expectations by as much as 3 million barrels per day.

FORBES: Two Sides To The Dear-Oil Coin

General Mills posted earnings before the bell on Wednesday, with earnings per share in line with Wall Street expectations at 56 cents as the maker of Cheerios and other consumer food brands saw stronger international sales and increasing costs due to food inflation.

FORBES: General Mills Suffers Food Inflation Costs In Q3

Earnings per share fell to 65 cents from 76 cents in 2009, but was in line with expectations, as was revenue.

FORBES: Magazine Article