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This is the first in a series of reports on the soaring cost of oil; check back here each week for more “Fuel Watch 08″ specials and exclusives This week, Congress voted overwhelmingly to order the White House to stop depositing oil in a national reserve. The reserve has been getting 70,000 barrels a day. That’s the proverbial drop in the bucket since Americans have been going through about 20-million barrels a day. But to many in Congress (the measure passed 97 to 1) it’s a gesture to constituents who are getting burned at the pump. It’s a gesture alright, according to Rep. Joe Barton — a meaningless gesture.
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When Pres. Clinton was in office and stopped purchasing for the oil reserves, the prices dropped substantially!
In addition, if prices are being driven by demand…how come I can get gas anytime anywhere, with no lines and no rations? Does anybody remember the lines of the ’70’s?
Comment by Jennifer — May 24, 2008 @ 10:43 am
If you can remember the 70’s, you weren’t there……. Or was that the 60’s???????
Comment by Mike — May 27, 2008 @ 9:38 pm