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Falling dollar helps push oil prices to 8-month high | Nation | Star-Telegram.com (http://www.star-telegram.com/238/story/1429269.html - broken link)
Quote:
NEW YORK — Oil prices hit an eight-month high as the dollar fell and a series of reports suggested that consumers and businesses may be more willing and able to spend money on energy.
Benchmark crude for July delivery rose $1.35 a barrel to settle at $72.68 on the New York Mercantile Exchange. Prices hit $73.23 at one point after the federal government announced a drop in first-time jobless claims last week and another report said retail sales grew in May for the first time in three months, in part because of spiking gasoline prices.
Gas prices are following crude upward, even though most energy experts can find no solid basis for either.
Location: I currently exist only in a state of mind. one too complex for geographic location.
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Quote:
Originally Posted by blackandproud
did you feel the same way last year when we were paying $4 at the pump?
there was extreme sarcasm in that post blackandproud. people blamed bush for oil prices, so I blamed obama. the reality is this. the dollar is weak, and when bidding on barrels of oil in a global market, prices will be high. but to answer your question, I didn't mind $4 a gallon gas. we aren't entitled to cheap oil. we are an incredibly wasteful society. when I say I am conservative, I am truly conservative. I walk and ride my bike as much as possible.
The CBO recently released a report saying the Cap and Trade legislation will add .77 cents to the cost of every gallon of fuel at the pump almost immediately after legislation is passed. Why? Refiners are expected to pass the increased costs directly to consumers.
there was extreme sarcasm in that post blackandproud. people blamed bush for oil prices, so I blamed obama. the reality is this. the dollar is weak, and when bidding on barrels of oil in a global market, prices will be high. but to answer your question, I didn't mind $4 a gallon gas. we aren't entitled to cheap oil. we are an incredibly wasteful society. when I say I am conservative, I am truly conservative. I walk and ride my bike as much as possible.
I don't believe Bush was to blame for the prices increasing, however he did nothing at all to stave off the impact to the american people....If this is a pattern that Obama will keep, then definately the democrats will have a hard way to go in 2010. Interest rates are beginning to go back up..why, because the jackazzes are printing money. The housing market has to continue to move forward, throughing the interest rates back into a neverending tailspin will not do it.
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