Tuesday, February 21, 2012

Obama Wants to Raise Price of Oil

Link here to Oil and Gas Journal.

The story is about the Obama administration wanting to raise royalty rates.

Common sense tells me these increased costs will be passed on to the consumer.

I only read the headline; not worth the time to read the entire story. With oil at $106 and trending higher, a increase in the royalty rates won't affect the oil and gas industry much in the short term, and will only exacerbate the price of oil. The UK tried this and things aren't working out so well.

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