Ease In Supply Worries Drop Oil Further

J.J. Jackson* | July 25, 2008

Filed Under Economy / Economics, The Economy

Liberals like to whine about how supply has nothing to do with oil prices. Well, even the AP admits that they do:

NEW YORK (AP) — Oil prices tumbled more than $4 a barrel Tuesday as Tropical Storm Dolly grew increasingly unlikely to threaten supply, knocking out one more reason traders had to prop up prices.

Then there is this article from Forbes stating the same thing …

By Barani Krishnan

NEW YORK (Reuters) - Commodity markets slumped broadly Wednesday, dragged by crude oil prices that dropped below $125 a barrel after the government reported a big rise in gasoline stocks, suggesting high pump prices were hitting U.S. fuel usage.

See? Increased supply lowers prices! No matter how hard they deny the truth, the truth is always out there to be seen. It’s so simple even a pinko commie lib can understand it!

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