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While the situation in the middle east and the weak american dollar both have some bearing, it's primarily due to the energy deregulation that the deceased Ken Lay and his republican friends snuck into a huge bill as a rider in Nov-Dec 2000 that's brought about the speculation craze.. It's that craze that's the cause a very large percentage of the oil prices. The US senate knew about this about 2 years ago and the house about a year ago and yet they're doing nothing about it.
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