Conspiracy Theories Abound as Oil Prices Fluctuate (Washington Post) In mid-May with gasoline prices at $2.95 a gallon and rising, 15 percent of Americans listed high fuel prices as their top concern, outstripping terrorism. And much of the public seemed ready to vent its wrath on President Bush and the Republican-led Congress. By early September, though, with the nationwide average at $2.73 a gallon and falling, only 5 percent of those polled said that the price of gas was the single most important issue, according to a Washington Post-ABC News poll.
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Peak Oil Passnotes: Oil Poised for Volatile Times (Resource Investor) Although we have talked about the markets having a herd mentality in the past sometimes it does seem implausible. Surely something so important cannot simply be down to something so irrational. But in general terms it is.
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Oil prices rebound, settle over $60 (Waukegan News Sun) Oil prices settled above $60 a barrel Thursday on expectations that OPEC would soon cut its output, though a representative of Saudi Arabia denied there was a deal to reduce production.
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