Offshore Drilling Ban to be Lifted by Bush

[scaeagles]

Originally Posted by wendybeth

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.