Phrozenbot
Member
+632|6585|do not disturb

https://www.goldmoney.com/en/images/commentary-images/commentary-charts/alert_2008-01-02c.gif

https://www.shadowstats.com/imgs/sgs-m3.gif

Weak dollar caused oil's rise, OPEC president says

I've had to post this a few times, so here. OPEC isn't as sinister as people think, nor are the big oil companies. Mail a complaint to the Federal Reserve, specifically to Ben Bernanke. Oh wait, you would get a return to sender with a note saying "send to Secretary of Treasury" for questions about the dollar.

And yes, growing demand globally does put pressure on supply, increasing the cost. But it's not the main culprit. I guess people need to also take into consideration of how little refineries there are in the ME, and how they have to send the oil to Europe to get it refined, which also makes oil more expensive.
superfly_cox
soup fly mod
+717|6751

imagine where the dollar would be if the chinese weren't buying it in boatloads to protect the value of their exports.
Dilbert_X
The X stands for
+1,810|6076|eXtreme to the maX
Imagine also where the dollar would be if the Saudis started asking for euros instead.
Русский военный корабль, иди на хуй!
ATG
Banned
+5,233|6499|Global Command
I just read the other day that the fed was content to let the dollars value slide because it would put the brakes on Chinese and Indias economy.


Kind of fucking me over too, tbh.
B.Schuss
I'm back, baby... ( sort of )
+664|6811|Cologne, Germany

Dilbert_X wrote:

Imagine also where the dollar would be if the Saudis started asking for euros instead.
you think it might happen ?

why not ? I mean, the dollar ain't holy, is it ? looking at the value of the currency right now, why not trade oil in it ?
stratozyck
Member
+35|6602
I disagree, in the long run increasing demand will be the main factor in increasing gas prices.  Chinese and Indian consumption are only beginning to ramp up. 

The weak dollar does mean we have to spend more to get the same, but in the long run it will be increasing demand.  Even with a strong dollar I doubt we will see gas prices anything near like they were 10 years ago.
Turquoise
O Canada
+1,596|6375|North Carolina

B.Schuss wrote:

Dilbert_X wrote:

Imagine also where the dollar would be if the Saudis started asking for euros instead.
you think it might happen ?

why not ? I mean, the dollar ain't holy, is it ? looking at the value of the currency right now, why not trade oil in it ?
There is much evidence to suggest that our invasion of Iraq had to do with Saddam's switch to the Euro.  In addition, our aggression toward Iran might have something to do with their interest in switching.

Whatever the case, the stage is set for OPEC to switch to the Euro, and when it happens, the dollar will take a beating.

Board footer

Privacy Policy - © 2024 Jeff Minard