For anyone who is of the misguided belief the US government has any more control over gasoline and oil prices than they have over other commodities, allow me to introduce you to the little known concept of supply and demand. It sort of goes like this. When demand exceeds supply, prices go up, and companies increase production to fill the void. When the opposite is true, and supply exceeds demand, prices fall, and companies cut back on production. Eventually a point of equilibrium is reached, and prices stabilize. It's a simple concept, and it's what free market economics is based upon. It's what drives businesses to expand or contract, to invest or divest. So why is it so many people have a hard time grasping that concept when it comes to energy prices? What makes people think we can just tell large, independent, global, multinational corporations, such as Exxon-Mobil, BP etc. to drill for more oil in the US (without considering supply/demand dynamics), and they will immedi...
The ramblings of a mantle cell lymphoma and bypass surgery survivor, and then some