Drivers, get ready for $4 gas – erienewsnow.com


One of the real drivers behind surging crude — and subsequently gas prices — was that OPEC and other countries, most notably Russia, only gradually increased oil production. These countries kept millions of barrels off markets with well-crafted quotas. Meanwhile, in the United States, bankers have kept their investments in oil exploration companies on a tight leash, not wanting to create a third boom-and-bust cycle. As a result, less capital for US crude has kept production well below record levels.

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