1. Contrary to the laws of supply and demand, raising production actually caused crude oil prices to increase because the market expected more oil than it got. 2. Indeed, in its newest Five-Year Plan the government names raising production of fertilizer, caustic soda and fine chemicals as one of its aims. 3. Raising production should bring further price declines. 4. OPEC decided Monday against raising production for the time being, a decision likely to upset consumer nations where high oil prices are pushing up winter heating bills. |