Two years ago crude was selling for under $40/bbl. It is now $123. Granted those are futures market numbers but no buyer in his right mind would produce for less than the going market?
And BTW, 4 years ago gas was selling for $2.11/gal. Two years ago it was ~$2.90.
Google research shows the cost of gas/oil and a conspiracy under EVERY BUSH. Pun intended.
China's demand has gone up 5000% in the past few years. India a similar amount.
O'Reilly tonight was exhibiting similar misunderstanding/ignorance.
Congress has investigated 'big oil' 11 times in the last 7 years. They haven't uncovered 1 shread of evidence of wrongdoing and please don't pull the ridiculous ploy of 'fake numbers', 'back acratching', etc. Since ENRON, a big company couldn't hide a flea in a dog pound!
Can any rational person believe that if Bush could somehow drop the price of gas, he wouldn't do it? His finaces are monitored even more closely than ENRON.
I feel sorry for kool-aide drinkers.