Bush Drops OCS Ban And Oil Prices Drop :: The Barnyard
Just as I have written many times the laws of supply and demand work and just the prospect of future supplies caused the futures market to drop the price on a barrel of oil $9.25 almost immediately. Futures traders bet on a dwindling supply with increased demand to buy future commodities like oil at today's prices in the hope those prices will continue to rise so they can sell their shares for a profit. Larry Kudlow has more here and echos the call to drill, drill, drill.
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