Thursday, January 8, 2015

Drill for oil more and bring the price down

Both Carl Icahn and Fed's Kocherlakota think a drop in oil prices good for U.S. economy. So why does CNBC keep saying its a bad thing?  I've been saying for years that the real price of oil is $35 a barrel.  The only reason that oil trades higher is because OPEC usually holds back on supply when oil is falling due to over supply.  If American was to build this pipeline, oil would fall so much that drilling  wouldn't even be profitable.  In fact drilling would be a money losing endeavor.  If we want to put Americans to work, the republicans should approve an infrastructure program that would repair bridges, tunnels, roads etc.  That would really put people to work.

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