It was reported ("Will the oil price 'bubble' pop or are thrifty habits way of life?" April 26, Page A-1) that while gasoline demand in the United States is falling, the price of a barrel of oil is continuing to rise. The financial reporter stated the supply/demand response is "failing" as oil speculators drive prices up.
It's time for the president to freeze the price of oil. Past Republican presidents have taken such actions and this might be the only way President Bush can have a positive point in his legacy.
He says let the free enterprise system work. But, in this case, it has been captured by speculators and oil companies. Record profits continue as big oil points helplessly at "other factors" determining the price.
Nationalize oil at the ports and let big oil and speculators lose while stopping inflation. A message will be sent.
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We consumers have reduced consumption, like during the electricity crisis. But again, suppliers/speculators are manipulating prices. This is exactly when and why government must protect the natural rights of its citizens from economic predators. Bring the internal memos and e-mails to light and send another batch of swindlers to prison!