Monday, June 2, 2008

Treasury Secretary -- Law of Supply And Demand Not Repealed On Oil!

With oil at record-high prices, Paulson said there is "no quick fix" because it is an issue of supply and demand. Global demand remains strong while "production capacity has not seen new development," Paulson said.

"I don't see a lot of short-term answers," he added.

He said he would like to see "increased investment throughout the world in oil and gas and alternative sources of energy."



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