Sunday, January 20, 2008

More Conflicting Signals

According to the AP George Bush is once again urging OPEC to boost production to lower fuel prices, claiming the high prices are hurting the U.S. economy. "I hope that OPEC, if possible, understands that if they could put more supply on the market it would be helpful," Bush said. However, as mentioned in class Bush has also maintained that the US needs to develop its oil independence from international providers. These opposing claims send conflicting messages to the international community.

The article also goes on to indicate that many economists believe the high prices are being driven by current levels of demand rather then a supply shortage.

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