So, crude prices are expected to drop to less than $80 per barrel, with the speculative bubble about to pop. Sounds like good news, does it not? Not surprisingly, companies that were quick to raise prices in response to higher gasoline costs are not so willing to lower them. So much for a free market. I do believe price fixing is illegal, but our current administration has been reluctant to enforce much of anything that would even slightly slap these companies on the wrist.
Sources:
http://www.businessweek.com/bwdaily/dnflash/content/sep2008/db2008092_750848.htm?campaign_id=rss_daily
http://www.nytimes.com/2008/09/03/business/03commodities.html?_r=1&partner=rssnyt&emc=rss&oref=slogin
Sources:
http://www.businessweek.com/bwdaily/dnflash/content/sep2008/db2008092_750848.htm?campaign_id=rss_daily
http://www.nytimes.com/2008/09/03/business/03commodities.html?_r=1&partner=rssnyt&emc=rss&oref=slogin
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