Okay. After a steady increase of gas and oil prices for over 2 years without relief, the regulators now believe it is the time for them to get involved to protect the American consumer.
"He suspects that something other than supply-and-demand is at play. He wouldn't rule out speculation or manipulation". You think???
This shows how a new administration will immediately drive down prices for consumers. The Bush administration is obviously very friendly with the oil companies and have shown a great reluctance to do anything to prevent them from manipulating oil and gas prices and putting a stranglehold on our economy. I don't have confidence in this guy. He should have acted long ago. Hopefully, the new President's guy will show a more proactive nature when it comes to this.
All you have to do is check the IEA website and look at the numbers. Production is at an all-time high. Supplies are level. Demand is normal. However they are "speculating" that demand will be much higher 20 years from now. They're making us pay for that today and are keeping the difference. Hence the record profits.
You hear all of the pundits demand to drill in ANWR and off the coast of Florida. Hey, that would be fine if the oil industry followed the rules of supply and demand. Increased supply won't help if they still "speculate" us to higher prices. The Saudi's say they'll increase production to the highest point ever. Speculators still raise the price. Always a reason to go up. Never a reason to go down.
Let's run the speculators out of town and we can regain control of our country's economy. However, we'll need new leadership that actually cares in order to make this happen.
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