Gas Trades on World Market

FACTOID: Petroleum and all of the products made from it are subject to the forces of a world market. The president of the US has no viable means to control its value. The price of oil is determined by how much someone, regardless of where in the world they reside, is willing to pay for it. That is the true value of oil. This value can be increased by speculation that creates a false demand. Despite claims by politicians seeking office there is neither enough reserves nor can they be accessed rapidly enough to affect the supply of petroleum. These are the simple facts.

Footnote: It was reported this morning that speculation adds .56 cents to the cost of each gallon of gasoline.