ben45750[/b]
You are correct about the trade and budget deficits being a major factor in the decline of the dollar, the Fed's action just added more downward pressure on the dollar.
But nowhere in the world do you see lines of people waiitng to buy gas. The only country where you see waiting lines sometimes is in Iraq. Is there increased demand, yes, is there a shortage? No. Here in Texas, and I believe it will should hold true nationally as well, there is very little change in the rig count numbers. One would think with the prices around $140.00 a barrell someone would at least unplug the 1100 wells just here in Texas. But they don't. Why? I also have a friend of a friend with the mineral rights to 200 acres in the Permian Basin. Surrounded on 4 sides by producing wells. The right holders have had a lease agreement for 2 years now, and the company has yet to scrach the dirt. Why?
When G. Bush was governor here in TX, he gave 3 additional tax breaks to his oil buddies, worth BILLIONS of dollars, and still no drilling?
All very confusing.
|
