Thread: Gas prices...
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Old 08-14-05 | 08:31 AM
  #163  
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bostontrevor
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From: Knee-deep in the day-to-day
OPEC doesn't control prices, the market does. OPEC just sets production quotas, so blame who you want but there is increased demand somewhere. OPEC also hasn't lowered their production quota since Feb 2004 when oil was about half the cost it is today. Since then, it has increased production quotas four times, most recently in June.

There are lots of theories about what's fueling (no pun intended) this price run-up: weather, China, speculation and political instability, reduced refinery capacity. One thing that doesn't figure is a reduction in supply.

So maybe you ought to check your facts before jumping to conclusions.

Meanwhile Maine is claiming substantial reduction in motor traffic due at least in part to gas prices: http://www.boston.com/news/local/mai...npike_traffic/
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