API: Raising US oil supplies key to lowering gasoline prices

03/26/2012
A major component to relieving upward pressure on gasoline prices in the US will come from increasing domestic oil production and not from raising taxes, American Petroleum Institute Pres. and Chief Executive Officer Jack Gerard told reporters Mar. 20 during a conference call from Washington, DC. He said President Barack Obama's administration needs a "reality check" as well as a revision to the unclear signals it is sending the market. This is something that US voters understand as well, Gerard noted, citing statistics from a poll conducted earlier this month by Harris Interactive on behalf of API among 1,009 registered voters in the US. "Voters understand that raising tax...
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