http://ecocentric.blogs.time.com/2011/05/06/debunking-a-few-myths-about-oil-and-gas-prices/
“After rising and rising in recent months, oil prices have taken a sudden fall over the past couple of days, sliding beneath $100 a barrel. What happened? Representative Michael Burgess, a Republican from Texas, has an idea:
“What happened yesterday? Oh, the House passed a bill,” Burgess said.
“Here we are in the Senate today, and I would just mention to the Senate that our bill yesterday to expedite lease sales in the Gulf of Mexico, those very leases that have been delayed or canceled by the administration in the past year, The fact that we’re willing to expedite those lease sales had a profound effect on those people who like to speculate and hedge in the oil market,” he said.
So, essentially, Burgess is arguing that global oil markets suddenly fell because …”