Monday, April 25, 2011 | 2:03 a.m.
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President Barack Obama is correct in investigating possible price-gouging by the oil companies.
With the recent spike in gas prices attributed to the turmoil in Egypt and Libya, one begins to wonder how come we have had such large jumps in gas prices lately.
Since Egypt’s change in government, there has been no disruption in oil deliveries going through the Suez Canal. With respect to Libya, on the other hand, we only import 50,000 barrels of oil a day from that country, an amount that can be made up from countries such as Saudi Arabia, with a slight increase in production.
Other oil-producing countries have not slowed production during these turbulent times. So what’s up? Greed.
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