Power Line - More White House Demagoguery on Gas Prices: "Exxon Mobil, America's largest crude oil producer, is a net buyer, not seller, of crude oil. The American oil companies typically refine two to three times as much oil as they produce. So they have little or no impact on the global price of crude oil.... and try to find ExxonMobil on this chart:
It is too bad that demagoguery isn't a useful product. If it were, the Obama administration could add materially to our GDP."
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