Oil and Gasoline Prices

Actual oil prices are unknown to most Americans.  The only oil price reported by the media is the Wall Street speculators' guess of the price of oil six months in the future.  A guess about the price of oil six months in the future should not be the basis of emotional and unreliable opinions given to the public about the rising prices of gasoline (not "gas," which is natural gas).  The American public deserves more. The truth is that we do not know what the actual oil prices are.  A few of us know that the price of U.S. crude oil is always cheaper than the price of foreign OPEC crude oil.  Some of us know that because we have followed "World Crude Oil Prices" on the website of the Energy Information Administration (EIA) of the U.S. Department of Energy for years. On November 11, 2011 (probably while I was marching as a World War 2 veteran in the Veterans Day Parade), the EIA shut down the World Crude Oil Prices website.  EIA did not even leave up the...(Read Full Article)

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