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Gas could fall to $2 if Congress acts, analysts say

Posted on Tuesday, June 24, 2008 at 7:51AM by Registered CommenterPolitical Soundoff in | CommentsPost a Comment

Editor - PS informed you two years ago that the rise in oil prices would be sharp and based on deregulated futures markets. It's nice to know our Congress is just now catching up on this.

"Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel."

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