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The lady on the talk-radio show introduced me as an oil price expert. Besides the fact that was not true, it violated my basic world view that, in most cases, there are no experts, certainly not in the realm of predicting oil prices.
So, when she asked me, “Who’s to blame for these high oil prices?”
I answered, “No one really knows. It’s complicated.”
A wise man would leave it at that, so I’ll continue.
Through my vast education via the popular press, the Internet, and being in a position that occasionally finds me in proximity to an “expert,” I’ve formed some educated guesses as to what is making oil prices high. Also, a report (S. Prt. 109-65) was issued by the US Senate Permanent Subcommittee on Investigations in late June 2006, and virtually ignored by the press. Chaired by Minnesota Republican Norm Coleman, the 52-page bipartisan report is remarkably blunt.
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