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Offshore U.S. Drilling Proposals Bullish for National-Oilwell Varco

Posted on June 19, 2008

Congress has finally decided to consider what President Reagan had proposed in the 1980s. The opening of our coastline to oil drillers seems to be a great move in trying to keep the price of oil down. Not only will it do this but it will also help the United States with its deficit as we will import less oil. It will also provide a new stream of revenue for Exxon (XOM), ConocoPhillips (COP) and Chevron (CVX). This newfound growth will increase capital expenditures as companies scramble for growth. The most important factor of this drilling is that it is not a want, but a need. Politicians can ...

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deficit , drilling , economy , oil