Quote:
Originally Posted by SlySy
Could this also be because of the talk in Washington of lifting the offshore oil drilling ban. I was thinking that this (drilling ban) could have a few effects. I know we can't meet our entire oil needs this way but it will give us a little say in the price of oil. Also, our dollar could increase in price further driving down the cost of oil because we will get more for our money. Hopefully this is a preliminary effect of our changing our ways.
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Lifting the offshore drilling ban does nothing for today's price because it wil take 5-10 years for those platforms to come online. And the dollar will only start recovering once the Treasury starts raising interest rates.