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Jon Halsey: Artificial manipulation of Law of Supply & Demand has consequences ' The bottom line is that artificial manipulation of the Law of Supply and Demand always has "unforeseen consequences" and none of them very desirable. The more that politicians act like politicians instead of statesmen the worse off we all are.' - JON HALSEY Comments re article 72185 Scorpt722 No blame to Obama for current gas price By Jon Halsey Personal Commentary Oil went from $3 a barrel to $12 when Egypt and Syria attacked Israel and the Soviet Union sent arms to the two Arab countries. Nixon then agreed to help rearm Israel and in retaliation the OPEC countries imposed an Oil Embargo. The Democratic 93rd Congress imposed Daylight Savings Time and a National Speed limit. Continuing thru the 95th Congress, various Democratic bits of legislation led to the Energy Policy and Conservation Act of 1975 and the Department of Energy in 1977 under President Carter. As a result gas prices stayed high until the mid1980's when oil prices collapsed under President Reagan and the 98th and 99th Congress with a Democratic House and a Republican Senate. In summary, it seems to me that laying blame to one political party over another is a fools errand. The bottom line is that artificial manipulation of the Law of Supply and Demand always has "unforeseen consequences" and none of them very desirable. The more that politicians act like politicians instead of statesmen the worse off we all are. - Jon Halsey This story was posted on 2014-12-30 13:48:01
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