President Bush is releasing oil reserves in hopes that gas prices will go down (http://www.mytelus.com/news/article.do?pageID=cbc/business_home&articleID=2017980). Will that really help? The nation is in panic over an energy crisis, meaning that demand is soaring, and we will pay high gas prices and high heating costs this winter. Although the price per barrel has been dropping since the release of the reserves, we are at the mercy of the oil companies, who have increased their profits to over 50%. Will the people see any relief in gas prices, or will the oil companies keep it all? There is only one way to decrease demand: increase prices.
Posted by Ann at 9/04/2005 06:57:00 PM