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To: the invisib1e hand
>Summertime shocker: Gas could hit $3 a gallon
there is no earthly reason for this to occur, outside of global upheaval.

It has nothing whatsoever to do with reserves, and I said nothing such. What you're saying is, regardless of the fact that the dollar has shed near 30% of its value versus most currencies and precious metals and is being pumped out furiously, that the OPEC nations will continue to accept near the exact same amount of them for a barrel of oil. Thats really magnanamous of them in light of the fact that all of the other neat stuff they turn around and buy with those dollars will cost them 30% more...

100 posted on 01/16/2004 10:22:46 PM PST by Axenolith (<tag>)
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To: Axenolith
the dollar is no lower, relative to a basket of currencies including what became the euro, than it was in 1990, 1992, and 1995.

if you want to extrapolate your premise, you could perhaps use as a guide crude prices during those times. in that period were times of very high economic growth (hence demand), and even the first real war in the mideast involving the US that I can recall.

Crude has traded at $40.00 per barrel before, with gasoline staying below $1.75 for the most part.

102 posted on 01/17/2004 7:59:00 AM PST by the invisib1e hand (do not remove this tag under penalty of law.)
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