How much is it there per ltr/petrol?

About 11.3 Kroner per liter right now (i.e. 5.5 US dollars per gallon).

There's a high tax on fuel in European countries to discourage use of cars and fund public transportation.

Most easy to access conventional crude is already being used so further production comes at a massive expense and several years of development. From what I hear (and I live in oil-town), the falling price of oil is not the primary reason why oil companies are cutting back or development (after all, many still expect $100+ oil next year). The oil companies fear windfall energy taxes and carbon taxes and are not willing to spend Billions in development for such little gain; after all, they can make far more profit if they don’t develop the resources and let oil skyrocket to $500 a barrel.

Yeah NJ. Most in US don't get it that if u tax big oil they will increase the fees and gas prices per gallon. Economics 101 is futile here and a lot of extreme leftists are getting the cash to let it fly. ahem Barney Frank, BO, Chris Dodd, and god-aweful Nancy Pelosi.

havent people been saying this for 40+ years now?

Oil is going to be around for a while, I wouldn't be worried.

Not the IEA. In fact they're usually pretty optimistic.

artificial gas price increases are go

Hopefully it will lead to people accepting smaller, smarter vehicles.

http://en.wikipedia.org/wiki/Smart_(automobile)

Sucks to be a car company now.