With gas prices reaching an all-time high and oil companies banking record profits, it’s easy for the public to blame oil executives for draining their wallets at the pump. Ask an economist, however, and he will give you a different answer: supply and demand. Of course, it’s more complicated that. …
Sen. Byron Dorgan (D-N.D.) has joined six of his Senate colleagues (Jeff Bingaman, Carl Levin, John Kerry, Susan Collins, Joe Lieberman and Ron Wyden) in introducing a bill “to increase the supply and lower the cost of petroleum by temporarily suspending the acquisition of petroleum for the Strategic Petroleum Reserve.” …
