Impact of speculators on oil prices explained While manufacturers shuttered factories and Americans cut way back on travel, oil prices surged a stunning 124 percent during a long stretch earlier this year. Gas prices followed, rising nearly a dollar a gallon, with price increases every day for almost two months.Murkowski introduces OCS revenue sharing bill U.S. Sens. Lisa Murkowski, RAlaska, and Mary Landrieu, DLouisiana, have introduced legislation that would guarantee a share of offshore oil and natural gas revenue to coastal states.

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