| Much of this you may have read here before, but it is worth repeating because the dramatic distortion in oil prices over the past weeks and their potential impact on the economy is becoming acute, and nothing is being done about it.
Some two weeks ago the Federal Trade Commission announced that it will open a probe on suspected oil price-fixing. We wish them God speed. In the past fortnight the price of oil has spiked some 10 percent in spite of the countervailing realities that would ordinarily militate against the precipitous rise in price that has taken place, realities such as:..............................................Full Article: Source
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