As a general rule, don’t believe a word you read in the popular press about the oil market. With the exception of Matthew Wald at the New York Times, reporting on oil-related matters is so badly underinformed that it’s worse than useless to pay any attention to what the major newspapers and magazines are telling us.

That’s why it’s worth stopping for a moment and flagging one of the rare intelligent pieces on oil-related issues. Stop, right now, and go read Leonardo Maugeri’s “What Lies Below?” at Newsweek.