Daily Revolt

May 15, 2007

Gas Hits Record, Likely to Stay High

Oil is the most precious commodity in the world. It is what drives our economy and U.S. foreign policy. Our dependence on foreign oil is essentially making us hostages. It is why we have a oil man as president. It is why we are in Iraq. And lets not forget, it is also why we have global warming:
The U.S. average gasoline price set a record Monday, eclipsing highs seen following Hurricane Katrina.

A number of analysts, including those at Oil Price Information Service (OPIS) and A.G. Edwards, expect the run-up in prices will end soon. But they do not expect prices to fall much this summer and warn another increase at the pump may come later in the season.

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