I wonder how closely the cost of a barrel of oil matches the loss the US dollar against the Euro. How much has the price of a barrel in Euros risen?
2007-11-07 01:09:42 · 7 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
The fall of the US dollar was PLANNED as part of the reason to bring about the a NAU currency.
2007-11-07 01:16:03 · update #1
probably a little of both...do you think the falling dollar will hasten the arrival of "ameros" ?
2007-11-07 01:13:09 · answer #1 · answered by Anonymous · 0⤊ 3⤋
The rise in oil prices has very little to do with either supply or the falling value of the dollar. The major reason for inflated oil prices is the unrest in the middle east and the rumors of war between Turkey and Iraqi Kurds, as well as U.S. hints of invading Iran.
The per barrel cost is probably even more devastating to the Euro, as the at the pump cost of fuel in Europe is and has been well above anything that we have seen in the U.S.
2007-11-07 09:16:20 · answer #2 · answered by fangtaiyang 7 · 0⤊ 1⤋
You don't know any more about what causes the price of oil to fluctuate than you do about currency markets... but I'll bet you think you know everything.
The price of oil is SPECULATION...
a MINOR DRAWDOWN in supplies...
the TURNING OFF OF MEXICAN OIL because of the damage from the hurricaine...
THE VALUE OF THE DOLLAR...
the value of oil in the FUTURES MARKET
The reason the dollar isn't worth CRAP is GEORGE BUSH and his WAR... Bush has trashed the economy with his FAILED POLICIES... so the Fed has to keep lowering the interest rates... this makes the DOLLAR less attractive to the Carry Trade and foreign currency speculators.
GEORGE BUSH has SINGLEHANDEDLY destroyed the world's economy with his FAILED, STUPID POLICIES and the old Reagan idiotic SUPPLY SIDE VOODOO ECONOMICS.
2007-11-07 09:18:13 · answer #3 · answered by Anonymous · 0⤊ 1⤋
I think neither. I believe it's all about supply and demand. They have it and we, unfortunately, need it. They are in a position to charge what they want, not what it's worth. Why not charge $100 a barrel? They can, and there's nothing we can say about it. Maybe at some point in the future, when other fuel alternatives are the norm, they will feel the need to be competitive and offer us reasonably priced oil.
2007-11-07 09:18:28 · answer #4 · answered by Emo 3 · 0⤊ 1⤋
$100 oil has a lot to do with speculation in the markets, than anything else. Expect a bubble burst. When, who knows.
2007-11-07 09:19:02 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Right now it has more to do with paper pushing speculators trading oil futures.
There is an oil bubble, once it pops prices will fall dramatically.
2007-11-07 09:22:09 · answer #6 · answered by csn0331 3 · 2⤊ 0⤋
I would say that growing demand from China and India play a large part as well.
2007-11-07 09:16:01 · answer #7 · answered by Time to Shrug, Atlas 6 · 0⤊ 1⤋