It's Not Obama's Fault That Crude Oil Prices Have Increased | Peter Van Doren and Jerry Taylor | Cato Institute: Commentary

It's Not Obama's Fault That Crude Oil Prices Have Increased | Peter Van Doren and Jerry Taylor | Cato Institute: Commentary: 'we import gasoline refined in Europe from North Sea crude. Even though these imports constitute less than 10 percent of U.S. gasoline consumption, they are necessary to satisfy domestic demand and their price sets the market price for all gasoline regardless of whether other cheaper crude sources are used to refine most of our gasoline.'

I certainly don't want to blame Obama when he doesn't deserve it but I don't understand how all oil is sold at the highest price -- that doesn't make sense. :-/