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Falling Oil Prices: Useful Lessons from the Slump at the Pump

Last summer's record-breaking oil and gasoline prices-exceeding $140 per barrel and $4 per gallon-received plenty of attention in Washington and sparked a host of proposed responses from Congress. However, the real lessons are to be learned by studying the dramatic drop in prices since then. These lessons, if incorporated into the nation's energy policy, could help prevent prices from going back up to record levels in the future. Lesson 1: Blaming Big Oil, Wall Street Speculators, or Other Scapegoats Is a Waste of Time

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