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Well, if Oil falls below $70 a barrel, the Alberta Oil Sands come to a frozen halt, too. It needs $70/barrel to be profitable.
Newt and Bachmann don't understand that. They still believe a $2.50 a gallon of gas is possible.
I suppose if the USA can drill enough oil to make up for 50% of it's oil imports, and the growing economies such as China, India, Brazil don't continue using more oil, then it just might be possible.
Basically, the USA would have to become ( replacing Canada), the second largest worlds oil producer and exporter for $2.50/gallon to become reality.
Newt and Bachmann don't understand that. They still believe a $2.50 a gallon of gas is possible.
I suppose if the USA can drill enough oil to make up for 50% of it's oil imports, and the growing economies such as China, India, Brazil don't continue using more oil, then it just might be possible.
Basically, the USA would have to become ( replacing Canada), the second largest worlds oil producer and exporter for $2.50/gallon to become reality.