Two common facts utterly lost on nour members of Congress:

1. Oil companies have NO CONTROL over the price of oil.
2. Countries like Sudi Arabia (other than limiting supply) have NO CONTROL over the price of oil.
3. Congress, by limiting oil production and refinement have a HUGE AMOUNT OF CONTROL over the price of oil.

Oil prices are set by traders. It is a bubble. In the last year, worldwide demand for oil has increased 1% while the price of oil has increased 100%.
Bill Mitchell | 05.24.08 - 7:19 am | #

Oops, I meant THREE, lol, it's early.
Bill Mitchell | 05.24.08 - 7:19 am | #