Thank you. That is technically correct. However, as you suggest, the high cost of crude lifts all boats, so to speak.
We should immediately strengthen the dollar including ratcheting up the interest rates. Then we should drill all over the country and drive the price of oil back into the ground. Yet, no one really wants to do anything other than throw up their hands and say, “nothing can be done, blame the evil oil companies”.
We should be drillin in the gulf, of the coast of California and Alaska.
What I would like to see is for oil to be removed from the commodities market. I dont think that will happen, but I find oil to be to valuable to our military and our economy to allow oil producing naitons to control the price by the standards the market sets.