[doc11355]

I would like to believe this report but it does not stand up to even minor seach engine and government reports. ...

If that is the case, to what should we attribute the almost tripling of gas prices since the $1.09 gallon price you cite?

[q_an_a]

In two April columns for BusinessWeek magazine*, Ed Wallace was the first to challenge Washington and the media's contention that prices for gasoline and crude oil are rising because of a decline in global inventories and stronger demand.

In reality, Wallace reported, speculators have largely driven the price for oil on the futures market to record levels. In addition, he wrote, demand for oil and gasoline is actually falling, and on April 1, U.S. gasoline reserves are at their highest levels since late 1992--all during a time when refinery production had been intentionally cut to force up the price of gasoline.