Kat, the devalued dollar makes sense--I'm not so sure Chinese consumption would have caused the sudden spike. I wonder if the futures market (commodities) is much of a factor(?) Let's face it, rich people betting that the dollar will go down and oil will go up will make...the dollar go down and oil go up. Wish I had a barrel full of Euros right now. LOL!
________________________________
From: Cerebral Palsy List on behalf of [log in to unmask]
Sent: Tue 4/29/2008 4:09 PM
To: [log in to unmask]
Subject: Re: 10 dollar a gallon gas?
Because it costs more per barrel to buy oil - largely due to the
devaluation of the dollar (the exchange rate is *not* in our favor) and the
dollar buys less. And the world's demand for oil has increased - I
understand that the Chinese are now a major player in the oil supply and
demand stakes.
Kat
Original Message:
-----------------
From: Cleveland, Kyle E. [log in to unmask]
Date: Tue, 29 Apr 2008 15:54:16 -0400
To: [log in to unmask]
Subject: Re: 10 dollar a gallon gas?
Has anyone been able to give a succinct, three-sentence-or-less
rationale on why crude prices have jumped so astronomically in the last
year. During the OPEC crisis of the '70s there might have been
shortages, but the price at the pump did not skyrocket in the manner
it's doing now.
Kyle
-----Original Message-----
From: Cerebral Palsy List [mailto:[log in to unmask]] On Behalf
Of [log in to unmask]
Sent: Tuesday, April 29, 2008 2:38 PM
To: [log in to unmask]
Subject: Re: 10 dollar a gallon gas?
There's a school of thought that says if the Fed would stop dropping the
interest rate and start raising them, it would stop inflationary trends
and
decrease the rate of oil price increases. Problem is, it would also
decrease the money supply but since no one is spending money and there
is a
credit crunch, I don't think it'd have that much of an effect on that.
Kat
Original Message:
-----------------
From: Virginia Perry [log in to unmask]
Date: Tue, 29 Apr 2008 11:37:24 -0600
To: [log in to unmask]
Subject: Re: 10 dollar a gallon gas?
I'd heard $7, so $10 is much worse. I think we'll be buying a scooter
with
our economic stimulus check.
> Date: Mon, 28 Apr 2008 23:18:31 -0700> From: [log in to unmask]>
Subject: 10 dollar a gallon gas?> To: [log in to unmask]> > i
just
heard a prediction og gas going to 10 dollars a gallon here by next
year. >
> if it does whatever party wins the election in november will be
wrecked
for years to come as a depression will do that. > > i wonder how we pwd
will fare in a depression. i fear it will not be well. > > >
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