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Off The Reservation: $4 Per Gallon – Beating The Oil Drum

High oil prices punish Americans indiscriminately. At more than $100 per barrel, high oil prices pose a significant threat to the global economic recovery and promise to hit consumers hard in the pocketbook in the months ahead. But why now? Government officials, Wall Street analysts and television pundits would have us believe that rising oil prices are directly related to the civil unrest in the Middle East and demand from developing nations such as China and India. This week’s Off The Reservation column by Jed Morey takes aim at the lies, rhetoric and propaganda surrounding oil pricing and exposes who’s really to blame.

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