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Autos > Fuel Economy The Government, automobile & oil giants: Screwing over Americans

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On July 1, the International Energy Agency reported that speculation had not distorted the price of oil in the short term. I hope they like eating crow. Over the weekend, the price of oil dropped nearly $20 from the record high price set July 11. Gas prices follow oil prices. The only thing that changed is the pressure on Congress to drill.

Just talking about drilling drove down oil prices by $20 a barrel.

Of course drilling for oil will drive down oil prices. Speculators aren't fools. They make their living examining the long-term prospects of markets, analyzing future supply and...

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