Wednesday, July 9, 2008

Durbin Warms Toward Drilling

Senator Dick Durbin, the Democrats' whip, told the Wall Street Journal today that he might support off-shore drilling. This Congress may yet enact an energy bill that gives consumers some relief at the gas pump.

No, the off-shore oil and gas won't be immediately available, but the futures market, by definition will reflect that it's coming. That will cause today's prices to drop.

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