Oil is traded on the global market in US dollars. When the dollar is strong, oil prices are low. When the dollar is weak oil prices are higher. Back in the summer of 2008, the dollar was as week as it is today... oil prices sky rocketed.. hence $4 gas. In the fall of 2008 and spring 2009, the dollar rebounded strongly and oil prices declined. Gas prices dropped to around $1.50 in some area. Forward to today, weak dollar = high oil prices = high gas prices.
Gas is higher in other countries, like Europe, because of taxes. 70% of france's gas prices is taxes. Maybe it is time to trade oil in Euros? -----Original Message----- From: G Money [mailto:[email protected]] Sent: Wednesday, April 27, 2011 10:19 AM To: cf-community Subject: Re: Expanded drilling won't reduce gas prices On Wed, Apr 27, 2011 at 12:08 PM, Jacob <[email protected]> wrote: > > Gas prices are high because the US dollar is worthless. > > Nothing to do with speculators, US drilling, supply, Libya, green > energy, tax breaks, etc... > Then how come gas prices are even HIGHER in countries that don't use the dollar????? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:336946 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
