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Can Governments Pop the Oil Bubble?

Governments tried to manupulate currency rates back in the 1960's and 70's . It was a disaster. I do not expect any better results for oil.
Americans have it in their power to be self sufficient if they would get over the exploint offshore resources which would give us breathing room to develop alternative energy sources. As it remains now, we are transferring the wealth of future generations overseas to buy energy that can be obtained closer to home.