Oil prices keep rising

After seven semesters of economic courses, one basic theory seemed to apply to everything...everything boils down to the equilibrium value. The first equilibrium value you learn is that between supply and demand.

As demand increases and supply stays steady, prices increase. That's what's happening in the global oil markets as developing nations begin to draw upon limited global resources.

Likewise, if you create new supplies, prices will go down. Hence, the push to drill in ANWR, which was approved by the US Senate yesterday.

Economics is easy. People should pay more attention to it!