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As expected, when the economy took a hit like yesterday when job growth was anemic and unemployment went up slightly, oil prices went down. It has nothing to do with supply and demand.
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Which Would You Rather Have - Low Gas Prices or Better Economy? Because You Can't Have Both
Sat, 06/02/2012 - 3:48pm — Sin-Mao Yang
Another Election Year, Another Attempt to End Oil Speculation
Tue, 04/17/2012 - 5:23pm — Sin-Mao YangIt might have started a couple months earlier, but this is eerily similar to the summer of 2008 when gas prices were at record highs, which is around $4 per gallon. Back then, congress proposed a bill to regulate oil speculation, but nothing came of it. It was shelved when people fought back by driving less and using alternative methods of transportation, lowering gas prices to the point where it no longer became an issue.
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