Too bad cars don’t run on light tweet crude.
Since the 1970s oil prices have, in at least the short run, been susceptible to jawboning from producers and, to a lesser extent, the White House. The Organization of the Petroleum Exporting Countries controls a third of production while the world’s biggest consumer can, at the order of the president, release part of the 660 million barrels of crude held as a strategic reserve.
But...