Thursday, March 15, 2012

Oil Prices

According to several sources and the US Energy Department, the US is drilling more oil domestically. Our oil exports have exceeded our oil imports for the first time since 1949, and we have more oil and natural gas drilling rigs than in any other part of the world. So why are gas prices reaching record highs? Many argue that our impending crisis with Iran is contributing to the rise in oil and it could get worse if matters escalate, but if we are producing so much domestically why should Iran make a difference? 

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