“the single biggest factor in U.S. oil prices has been the value of the U.S. dollar relative to other major currencies.”
Don’t disagree.
But this country has the power to mitigate at least somewhat by offshore drilling and prioritizing the drilling and usage of our natural gas industry(which is what every other country on the face of the earth would do for wealth and jobs creation).
Instead, we get bogus schemes like ethanol and windfarming that will NEVER do anything but make a few libs feel happy and pad the pockets of ADM and GE.
Right. But something to keep in mind here is that if the U.S. dollar continues to slide (as I expect it to), then we could very well find ourselves in a situation where we extract more oil right here in the U.S. — and find ourselves exporting much of it to other parts of the world!