How to cut the price of oil

Can the world do anything


No guarantees, but such actions may ease the price pressures that pushed oil to a record $139 a barrel earlier this month. Energy costs have become a driving force of inflation besetting US and global consumers.

Policymakers don’t have a magic wand to wave. The long-term challenge will remain: Demand for energy keeps rising even as it grows harder to boost oil production.

But energy experts cite a range of tactics that could provide some relief. Even efforts that don’t bring a rapid change in supply or demand might have an immediate effect on market psychology.

Christian Science Monitor