you can't have it both ways either the oil industry is in charge or it is not. i agree with you that oil is not ran by a cartel nor are they a monopoly, but no matter what currency you use to price something, it does not exempt it from the laws of supply and demand. when demand is up in relation to supply the price will go up and it will not go down until supply catches up. a government or group my delay it, but eventually supply and demand will have its normal course. always it will happen just as sure as the sun comes up in the morning.  


--- On Wed, 4/30/08, Deri James <[log in to unmask]> wrote:

> From: Deri James <[log in to unmask]>
> Subject: Re: 10 dollar a gallon gas?
> To: [log in to unmask]
> Date: Wednesday, April 30, 2008, 4:35 PM
> On Wednesday 30 April 2008 18:42:45 ken barber wrote:
> > yes, th oil is priced in dollars but the less euros
> the dollars will but,
> > the higher the oil producer price the oil so as to
> make up for the dollars
> > buying less and then the increase is passed on to the
> consumers in a higher
> > at the pump price.
> >
> 
> The oil market is global, so the price, in dollars, is the
> same for any 
> country wishing to purchase. The price is set by the ratio
> between supply and 
> demand. What you describe (the producer setting an
> artiificiallly high price) 
> only occurs when a cartel operates the market.
> 
> Cheers
> 
> Deri
> 
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