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Detailed text transcripts for TV channel - FOXNEWS - 20120308:23:55:00

West continental shelf you saw prices come down 45%. what happens you have betting on future supply of oil. people make those bets based on what signals they are getting from the administration. when an administration signals it s not interested in increasing supply on something as simple as this, that does affect price. bret: speculators factor in and oil companies but whole supply and demand question. secretary chu saying yes, when you release the strategic petroleum reserve the prices did go down. then conceding that supply does matter. president had talked about demand and lowering demand. he mentioned in his white house press conference earlier this week the administration is looking it up. my guess they will do something. but the reason he is losing the argument, he is the incumbent. it is his problem. ....

Continental Shelf , Bret Baier , Affect Price , Strategic Petroleum Reserve , White House , Press Conference ,