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Old 12-10-2010, 12:12 PM
 
14,253 posts, read 15,286,837 times
Reputation: 13681

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Quote:
Originally Posted by HappyTexan View Post
Remember though..QE2 is flooding the world with USD so it takes more $$$ to buy the same amount.
Our dollar is being devalued. We are doing a "slow" Zimbabwae.

The USD has lost 30% in the past decade. Yet our wages are not keeping up. So your paycheck is worth less and less each year.
Do you think that the loss in value of the dollar is responsible for supporting the global price of oil? If so, what caused the spike in 2008?

 
Old 12-10-2010, 12:17 PM
 
Location: Upper East Side of Texas
12,521 posts, read 23,047,709 times
Reputation: 4890
I just think Obama "banning" drilling in the Eastern Gulf is a joke.

Its OK for a foreign country to do it though...as long as its not one of our own. Just like waterboarding.

Right Mr. Obama?
 
Old 12-10-2010, 12:21 PM
 
14,253 posts, read 15,286,837 times
Reputation: 13681
Quote:
Originally Posted by Metro Matt View Post
I just think Obama "banning" drilling in the Eastern Gulf is a joke.

Its OK for a foreign country to do it though...as long as its not one of our own. Just like waterboarding.

Right Mr. Obama?
And how does that affect the global price of oil?
 
Old 12-10-2010, 12:22 PM
 
Location: North Cackelacky....in the hills.
19,556 posts, read 19,266,232 times
Reputation: 2499
Quote:
Originally Posted by Jaggy001 View Post
Do you think that the loss in value of the dollar is responsible for supporting the global price of oil? If so, what caused the spike in 2008?
Oil is priced in USD.

As to what caused the last oil price spike,I thought that was market manipulation???
 
Old 12-10-2010, 12:26 PM
 
14,253 posts, read 15,286,837 times
Reputation: 13681
Quote:
Originally Posted by oz in SC View Post
Oil is priced in USD.

As to what caused the last oil price spike,I thought that was market manipulation???
I agree
 
Old 12-10-2010, 12:28 PM
 
Location: Great State of Texas
86,093 posts, read 72,311,213 times
Reputation: 27564
Quote:
Originally Posted by Jaggy001 View Post
Do you think that the loss in value of the dollar is responsible for supporting the global price of oil? If so, what caused the spike in 2008?
I think the spike in 2008 was pure speculation and bubble pricing.
This is different.
 
Old 12-10-2010, 12:31 PM
 
Location: Upstate
5,777 posts, read 6,547,129 times
Reputation: 4101
Quote:
Originally Posted by Metro Matt View Post
Bull****

The economy has not picked up worth a hoot under this administration.

In fact, its gotten way worse.

Its been 2 years now & the time for excuses was over a long time ago.
Maybe you didn't read my post correctly and jumped the gun. I said if, when, the economy picks up, then the gas prices will follow.

The gas prices are going to average $3/gal next year, forcasters say. That is high for the current economic times we are in. But if there is any hint of a economic turnaround, the gas companies will be right there to slow it back down again.
 
Old 12-10-2010, 12:32 PM
 
Location: Victoria, BC.
30,828 posts, read 31,665,817 times
Reputation: 12569
Quote:
Originally Posted by Calvinist View Post
well, it's obvious......obama isn't in bed with the oil companies, like we all know that evil George Bush was.





Quote:
Ya know....every time I see someone start a thread on a message board about gas prices, someone comes along with a holier-than-thou attitude and tells us how "lucky" we are to have it as cheap as we do.
Holier than thou? I thought that was your department.....Well the fact is you are lucky if that is all you are complaining about.
Quote:
Do those other countries rely on the trucking industry as much as we do? Do other countries drive as many miles as Americans do? Do other countries have cars with engines bigger than 4 or 6 cylinders?
Of course we do, and here in Canada those truckers have a lot further to go.

Quote:
Honestly...we are getting better the last few years--but our economy relies so much on cheap gas. It's not like we can just change overnight, or that it's any less of a hardship.
Have no fear, higher gas prices won't bring your world to an end....Up is the only direction they can go with shrinking oil supplies.
 
Old 12-10-2010, 12:37 PM
 
29,988 posts, read 37,103,870 times
Reputation: 12758
Quote:
Originally Posted by Jaggy001 View Post
Its still 25% cheaper than the high under Bush
Only because the unemployed aren't driving to work every day. Demand in the US is down compared to that same time period.

What did people expect would be the result of his policies and drilling moratoriums? The price of oil has been inching up ever since the BP Gulf mess. Wait until the hike in the federal fuel tax goes up again next year.
 
Old 12-10-2010, 12:40 PM
 
3,111 posts, read 3,852,412 times
Reputation: 2826
Skyrocketing to? They've been hovering around 3 bucks a gallon for close to 2 years where I live.

The issue with W was that gas was 1.89 a gallon, and then a short time later it was 4.50.
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