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Thursday, September 04, 2008
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September 4: Oil Price Confusion
I'm confused. A hurricane makes its way into the Gulf of Mexico. Oil production rigs in the Gulf curtail production, thus reducing the supply of oil for our use. With supplies reduced the price of gasoline goes up 16 cents per gallon at the pump. Yet some in Congress tell us that if we drill for more oil, thus increasing the supply of oil available, that will have little or no effect on the price of gasoline at the pump. I'm confused.

David Hinton
Tyler



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