Thread: Offshore Drilling Ban to be Lifted by Bush
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Old 07-14-2008, 12:16 PM   #14
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Quote:
Originally Posted by wendybeth View Post
Besides, I was under the impression that it's not a shortage that is causing this problem- it's unbridled speculation, due to the lifting of controls that had been set in place post-Great Depression.
You are indeed correct. But the specualtion is taking place because of the unease in the Middle East and Hugo Chavez. A supply of oil coming to America that is not from the Persian Gulf immediately reduces speculation.

It is also a function of the weakened dollar.
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