As T. Boone Pickens said, it’s merely a matter “supply & demand”, there is a reserve presently of less than 27 million barrels a day with a demand for about 28 million barrels a day and if there were a more substantial dependable supply available (read MADE IN USA), those contracts that speculators/traders hold for $140 barrel oil wouldn’t be worth the paper they’re written on...
DRILL HERE! DRILL NOW!
Yep. If you really want to screw the speculator, the way to do that is DRILL, DRILL, DRILL!
Right now, they are speculating that the US government is run by a bunch of chumps who will run the economy into the ground to cover their butts and for short term political gain.
Sounds like a pretty safe bet to me!