supply

Increasing Supply Brings Prices Down

Sen. Barack Obama and Sen. Hillary Clinton both say that they can lower gas prices if they are elected president. But unless they plan on putting an additional couple of million barrels of oil onto the world market from their own personal stock, their efforts probably will not lead to much of a reduction at the pumps and could make things worse. Despite the liberal mythology that gas prices are set in a shadowy conspiracy by oil companies in some oil-filled back room, the fact is that oil is a commodity traded on the world market. American oil companies can no more set the price of a barrel of ...

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