Nuclear Power & Offshore Drilling May Keep Oil Prices Artificially High
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With gasoline prices at record highs in 2008, 2009 and 2010, 2011 has looked like a microcosm of the longer oil-market trend: consistent increases in pricing, fuel costs hurting small business and the middle class, slowing the pace of economic growth in the US, and—maybe most strangely of all—no national policy to motivate a rapid, comprehensive transition away from fossil fuels and the volatility and cost inefficiency of their products to the wider marketplace. Instead, we have seen a recommitment to ramping up production, expanding drilling and exploration, and prioritizing local importation (from Canada and Mexico), instead of real coordinated policy planning to end dependency on foreign-sourced fuels.

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