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To: Moonman62
Why no mention of W’s weak dollar, or the timely refinery breakdowns?

How does a "Weak dollar" have anything at all to do with the price of oil?

13 posted on 06/10/2007 10:21:31 AM PDT by MNJohnnie (If you will try being smarter, I will try being nicer.)
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To: MNJohnnie
How does a "Weak dollar" have anything at all to do with the price of oil?

I would say it has something to do with most of our oil being imported. A weak dollar makes all imports more expensive.

Additionally, most oil on the global market is priced in dollars, yet producers tend to buy things in other currencies like the euro. Perhaps you can see how that upsets oil producers. OPEC and others tend to hold back supply when the dollar is weak. That was true in the 1970's and that's true now.

57 posted on 06/10/2007 3:20:43 PM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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