Its got nothing to do with supply and demand, China and India?
There is some increased demand in the price, but like he said, a barrel of oil can be bought with the same amount of gold as ten years ago.
And the price in dollars has gone up more than the price in euros. That shows you that monetary policy is part of the problem. The fed intentionally devalued the dollar as a strategy to reduce the cost of our national debt.
“Its got nothing to do with supply and demand, China and India?”
B knotts didn’t say that it didn’t, but in addition to increased demand for oil worldwide, the falling dollar HAS absolutely increased the price of oil for dollar consumers (this means us).