“More domestic drilling won’t bring back $2.50-per-gallon gas, as Newt Gingrich has suggested — oil prices are dictated by the vast world market, of which U.S. production is just a small fraction. The still-in-limbo Keystone XL pipeline is just as likely to raise gasoline prices in the Midwest as anything else. Cracking down on ‘financial speculators,’ as many Democrats have called for, isn’t particularly promising, as many oil traders simply appear to be following fundamentals.” – Brad Plumer, Washington Post
Lies, lies, and more lies. It’s the way of the world these days.