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November 2, 2012

Can the President Control Gas Price at the Pump

 

Bloomberg Businessweek contributor Roben Farzad discussed this very question on NPR’s ‘Solve This’ series.

The short answer is, No. But of course this does not stop candidates from talking about it,

Oil and its various products are traded in a global market. All the oil we have been pumping right here in the USA doesn’t make a bit of difference. Oil producers want to sell their product for the highest prices available. That may not mean to US buyers and it’s not something the President and/or Congress can demand.

Read the whole transcript for the complete explanation. You can also listen to the story.

Filed under:Fuel cost,Fuel Cost Control,Gas price,Presidential Election | by Pump Girl @ 4:13 pm |