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Why the concept of drilling to bring down oil prices is fallacy
Topic Started: Feb 27 2012, 11:56 PM (673 Views)
Chris
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Want to bring oil prices down? Stop inflating the US $.
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Pat
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You mean quit printing greenbacks Chris?
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Chris
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That, and end stimulus packages, and quantitative easing and other such policies that inflate the $.
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Stoney
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I think its naive to think that less dependence on world markets wouldn't ease domestic market prices. But that aside, less dependence is a goal that would certainly keep more dollars here.
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tomdrobin
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Chris
Feb 28 2012, 05:43 AM
Want to bring oil prices down? Stop inflating the US $.
Inflation was 3% for 2011 and is expected to come in at about 2.9% for 2012.

Sure the right wing loonies insist it is really 10% or more, but that is just more revisionist rhetoric.
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Chris
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tomdrobin
Feb 28 2012, 06:59 AM
Chris
Feb 28 2012, 05:43 AM
Want to bring oil prices down? Stop inflating the US $.
Inflation was 3% for 2011 and is expected to come in at about 2.9% for 2012.

Sure the right wing loonies insist it is really 10% or more, but that is just more revisionist rhetoric.
3% per year will do it. Not sure where you get 10%.

See Gasoline Prices Are Not Rising, the Dollar Is Falling for explanation.
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