Will Oil Prices Go Up Forever?
June 2nd, 2008 by Peter SudermanGallup also reported last month that many Americans assume recent jumps in gas prices are permanent. But that’s not necessarily true. As Steve Chapman points out today, there are credible experts who believe that oil prices could well go down by more than 30%. Lower demand as a result of high prices is part of this. But, as I’ve already noted today, so is increasing supply, and the best way for public officials to set the stage for this to happen is to reduce regulatory barriers to expanding production and increasing investment.
