Just when it looked like oil prices might be starting to return to more sane levels, we had Hurricane Ike. It wasn't as bad as expected, but supplies have not returned to where they were,
Now, today, oil closed up $18.60 to over $122 - the largest single day price increase EVER. Unprecedented. And people are scrambling for explanations.
For my money - and I'm all for state's rights - it's time to have one grade of gasoline, period. Let's end some of this excessive regulation. Become efficient at refining it, cut costs. Let the free markets reign.
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