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Crude's Rise Is All About Supply and Demand

Posted on May 22, 2008

The public, the media, and especially our legislators love to have someone to blame for everything that doesn't suit them. Right now, oil and gasoline prices have everyone up in arms and, of course, someone must be to blame - sort of like Salem, Massachusetts in 1692. In similar form we are currently inundated with articles on how those evil speculators are driving up the price of oil. There's an article today on the Los Angeles Times site and Business Week is blaming it on the pension funds. As you might expect our legislators are ready to fix the problem once and for all by imposing higher m...

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