If the answer is yes, how would this affect your gasoline prices among other things?
2007-10-05 15:02:51 · 10 answers · asked by Chi Guy 5 in Politics & Government ➔ Politics
The Wise One (below) US policy directly drives this particular part of US economics.
2007-10-05 15:08:07 · update #1
a_bush_family_member (below) Good point. Not enough room in the opening window.
Would a stronger dollar afford more oil per dollar for the US? If so, would this, in turn, reflect at the pump?
2007-10-05 15:10:29 · update #2
It would cost lees if you liberals would stop blocking drilling for the oil in ANWR - now wouldn't it?
2007-10-05 15:07:28 · answer #1 · answered by Anonymous · 3⤊ 2⤋
No. Oil is a international commodity. the upward thrust in oil utilization via China, India and the the remainder of the 0.33 international, alongside with minimum refining ability are the main reasons for the upward thrust in oil fees. actually, whilst adjustd for inflation, oil is extra fee-effective immediately than interior the early 80"s
2016-11-07 09:33:07 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Oil would be a lot cheaper if the dollar wasn't in free-fall, absolutely. Food would be a lot cheaper. Mortgages and rent would be a lot cheaper. Medical care would be cheaper.
Of course, global demand, a lack of domestic drilling & refining, and taxes play a huge part in driving up the price too. This is why oil has is up like 120% over a few years while things like food, housing, and medical have only gone up 50% over the last 5 years.
I can't believe I said "Only" in reference to prices in critical sectors going up 50% over 5 years.
2007-10-05 15:15:27 · answer #3 · answered by freedom first 5 · 0⤊ 1⤋
If China quit buying oil the price would drop. That is not going to happen.
2007-10-05 15:09:28 · answer #4 · answered by phillipk_1959 6 · 3⤊ 0⤋
Oil is generally traded in dollars. The price of oil will remain the same. However, OPEC may see lower profits because of the weakened dollar, which may cause them to cut production to increase the cost of oil to increase revenue.
A declining dollar means a decline in the value the dollar OPEC collects for its oil.
http://www.ft.com/cms/s/0/743a52a2-3959-11dc-ab48-0000779fd2ac.html
2007-10-05 15:07:54 · answer #5 · answered by a bush family member 7 · 1⤊ 2⤋
The United States is not a major player in the world market as far as affecting prices anymore. China, Russia, and India dwarf our consumption collectively.
2007-10-05 15:08:09 · answer #6 · answered by Salsa Shark 4 · 2⤊ 3⤋
It would cost less in dollars but more in Euros. I suppose you could argue that it didn't rise in prise if you bought it with Euros. It costs more. US exports are cheaper. Some lose, some gain.
2007-10-05 15:12:18 · answer #7 · answered by bravozulu 7 · 1⤊ 1⤋
Let me consult the all powerful magic oracle... the Magic 8 Ball..
shake.. shake.. shake...
"Better not tell you now"
Magic 8 Ball HAS SPOKEN!
2007-10-05 15:10:45 · answer #8 · answered by Chef 6 · 2⤊ 1⤋
Oh, I get it now, from your stream of questions it appears you are taking that Macro Econ class and need help with your homework.
2007-10-05 15:07:19 · answer #9 · answered by booman17 7 · 2⤊ 2⤋
I think you should post your questions in an economics-type section instead!
2007-10-05 15:06:36 · answer #10 · answered by Anonymous · 0⤊ 3⤋