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Bush says drill and oil drops $9 a barrel

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posted on Jul, 16 2008 @ 02:52 AM
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Drill, drill drill!



In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere. Crude-oil futures for August delivery plunged $9.26, or 6.3 percent, almost immediately as Bush was speaking, bringing the barrel price down to $136.


Funny how these things work. It should be interesting to watch how this plays out.

**Edit - forgot my s in drops.***

[edit on 16-7-2008 by BRQuick]




posted on Jul, 16 2008 @ 05:31 AM
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Oh oh - i wonder how all the late investors are feeling... seeing as they are after losing 6.3%. Speculation should be banned in the stock market.



 
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