There is some debate in the main-stream press about the relative causes and impacts of the rising gasoline price on the overall economy. (I paid $4.40 per gallon in Silicon Valley on Sunday, though only $3.67 in mid-Missouri today). As noted in my previous post, the Kingdom of Saudi Arabia is unique in its potential ability to increase oil production, at relatively short notice, in order to deal with a shortfall in that overall supply. With the tightening of supplies from some of the nations that have seen the impact of the ?Arab Spring? there is a concern that ...
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