06 Oct 2008

Lifting the Offshore Ban [Apparently] Gave Immediate Price Relief

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Here’s a link to a fairly impressive demonstration that might surprise those who thought the offshore ban had nothing to do with current prices. The money chart:

NOTE: In the interests of complete academic honesty, I should note that after I wrote the above article, someone asked me if the price for natural gas looked the same. (After all, offshore drilling will tap into natural gas deposits as well.) The 2nd inflection point is beautiful, but for the first one, the natural gas price peaks more than a week before Bush lifts the executive ban.

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