Bettyblue

Offshore Drilling Ban Lifted: Oil Stocks to Fall?

If you believe in peak oil, it would be stupid to go drilling. Better to use the oil from the Middle East now, actually invest in some alternative energy, which, by the way would generate new jobs and prevent you guys from being destroyed by technologically more advanced foreign competitors (see US car industry). Once the oil price is high sometimes in the not so distance future, you might actually profit from that oil. But then again, Americans seem to be unable to think longer than 4 years into the future.