Stories Related to Letter: U.s. Policy Increases Gas Prices

Your $1,000 tax savings are going to the oil companies. Why have fuel prices risen so much? Look back a bit and the price per barrel was down, domestic production dropped the price and supplies were “a plenty.” OPEC decided to curtail production and — voila! — higher prices for everyone at the pump. I see a bit past the real implications of lower supply — the price per barrel now makes it financially viable to produce domestically; fracking makes a profit if the price is about $65 a barrel.