Drill Baby Drill....
I thank God he blessed us with shale oil and the means of getting it out of the ground at just the right time. Can you imagine how much worse 0bama’s damage would have been without it?
It cost money to drill.
Small operators don’t have the money to fund the drilling of wells they need the money of investors.
When the price gets too low investors aren’t going to be putting their money in drilling since they may never get their money back.
The price is being manipulated to stop drilling here in the US.
Palin, Bush and others talked about domestic oil production and were mocked by the left, but now it appears it is U.S. oil production driving down the worldwide price.
I’m still waiting for Obama/Obama Administration to give credit to US oil drilling for the lower prices at the pumps.
This is great news if Curie’s analysis is correct. Cheaper energy is one of the greatest economic stimuli we can have. Maybe Obama’s recession will end.
OTOH, energy prices also fall during bad economic times. Remember how cheap gas was in the 2008-2009 crash?
I don’t know if this is primarily demand driven or supply driven.