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Gas could fall to $2 if Congress acts, analysts say
03:10, Thursday, June 26, 2008
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Limiting speculation would push prices to fundamental level, lawmakers told
"WASHINGTON (MarketWatch) -- The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday.
Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135. "
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03:38, Thursday, June 26, 2008 .. Posted by morningsunshineha! congress making things better by further restrictions on personal freedoms. how about a better idea of EASING restrictions on drilling - even uncap the ALREADY DRILLED wells covered in the 80s. maybe let the refineries operate at full capacity?
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