Unaware that OPEC and his own energy secretary have declared that the price of gasoline no longer depends on the supply of crude oil, President Bush Tuesday took steps to increase the supply of oil in an effort to reduce the price of gasoline. Not that it matters, but Bush eased some environmental regulations and halted additions to the strategic petroleum reserve. "Every little bit helps," the president said, apparently referring to the quaint, outdated notion that the scarcity of a commodity somehow affects its cost. Of course, everyone knows that the price of fossil fuels is inextricably linked to the price of tea in China. The equity markets reacted to the president's moves by moving generally lower. The Dow fell 0.47% to close at 11,283.25 and the Nasdaq dipped 0.13% to 2,330.30. The price of tea in china remained unchanged.—Jeffrey Kanige
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