Soaring Oil Prices: Another Culprit?

What's responsible for sky-high oil and gasoline prices? To the threat of war in Iraq and this year's cold winter, add another culprit: the Administration's oil policies. That's the charge in a new Senate report produced by Democrat Carl Levin of Michigan. After 9/11, Bush developed a plan to fill the Strategic Petroleum Reserve (SPR), a 700 million--bbl. store meant to sustain the U.S. in an emergency. Last year 40 million bbl. were added to the SPR. The report states those purchases drove up prices by adding to the demand for oil. An independent analyst says that had the Administration not...

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