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European nations considering attack on oil prices

According to Bloomberg this morning, several European nations are considering what President Obama is hesitant to do: Tap into reserves to try to force down the per-gallon price of gasoline.

Meanwhile, we’re hearing tales that some local restaurants are beginning to see business slow as gas approaches $4 a gallon here.

I wonder if the president will be surprised when the economic recovery slows or stops in the wake of speculation-fueled oil price hikes.