The 110th Dem Congress was getting blamed for high gas prices, but they've been dropping | 13 comments (13 topical, 0 hidden)
So true (none / 0)
The projected increase in production will reach about 3% of overall production, which isn't alot. Furthermore prices are not set in the US but internationally. It will have a small effect on price though.
Its been calculated to decrease the price 0.106$/barrel tomorrow if the bill passed. (source).
The unregulated speculation is estimated to be responsible for 10-25% of the price. if we are talking about 4$/gallon thats between 40 cents and 1$ at the pump.
So basically republicans are full of s....

by whoosh on 08/20/2008 05:56:56 PM EST

[ Parent ]
oh and if you were wondering (none / 0)
The piece I referenced is written by Menzie Chinn,
Professor of Public Affairs and Economics at University of Wisconsin

by whoosh on 08/20/2008 06:17:48 PM EST

[ Parent ]

The 110th Dem Congress was getting blamed for high gas prices, but they've been dropping | 13 comments (13 topical, 0 hidden)