Posted on 09/22/2008 11:09:09 AM PDT by tatown
As of 11:07 Pacific Time:
Crude Oil 116.24 +11.69
(Excerpt) Read more at nymex.com ...
Major short squeeze and the dollar is taking it in the rear.
It’s not the drilling.It’s the value of the dollar.When you throw out dollars like our Treasury is doing,they lose their value.High supply=low demand.They seem to have forgotten that one.
Yep. The US dollar is tanking. So our costs go up.
Another wonderful job by the Dem controlled CONgress!! /s
Coincidence or cause of the bail outs?
Gee, maybe we ought to um, uh, DRILL our own oil.
Just passed $121.00.
I'm sorry, I didn't realize that the Treasury Secretary was appointed by the Demonrats.
I also didn't realize that the Demonrats had George Bush's lips on a string when he promised Americans a house in every pot - and pushed for the allocation of funds for poor people that could not afford a house to have their qualifying fees paid.
My point - there's plenty of blame to go around so let's take off the Republican tinted glasses and deal realistically with the economic crisis that is about to bring down the economies of the entire developed world.
Drill here drill now can not offset the devaluation of the dollar caused by these massive bailouts of financial institutions.
The dollar is falling, not the price of oil going up. Dollar equals less because we are printing massive amounts of money. The value of oil in relation to the lower valued dollar raises the price of oil.
The public is paying the cost of the bailouts through higher gasoline and other prices.
FReepers, do I have that correct. Please weigh in.
All commodities/tangibles have just done the same thing.
The bailout is being paid for by inflation. Maye 25% in the past few days.
this has more to do with the value of the dollar falling off the table than anything else.
Dead on!
“The dollar is falling, not the price of oil going up. Dollar equals less because we are printing massive amounts of money. The value of oil in relation to the lower valued dollar raises the price of oil.”
.........
You are wrong.
The price of oil has risen roughly 25% in the last two weeks while the value of the dollar has fallen less 5%. In other words, the price of oil has RISEN significantly in ALL currencies during the past two weeks.
This goes to show that you can’t cheat the market.More dollars is going to lead to massive inflation.No dollars will lead to deflation(depression style).It’s a no-win situation we’re in now.
That's what happens when bailouts don't come with regulation that deals with the root problem. Everything that has been talked about dealt with symptoms rather than the derivatives that got us into this mess.
Yep. Democrats and Republicans are taking us down the same road.
WSJ is not reporting: Crude up $25 as money runs to safe havens and the dollar drops.
Hurry up, Congress! Rubber-stamp, er, vote for the bill!
WSJ is now reporting: Crude up $25 as money runs to safe havens and the dollar drops.
Hurry up, Congress! Rubber-stamp, er, vote for the bill!
Bears repeating. October contracts expired today, November contracts closed at $109. Up, but not nearly as dramatically as October, which saw a lot of shorts taking it in the, uh, shorts and trying to cover positions before expiration.
Yes that is true. The dollar is weak and getting weaker. The more we print and the more credit we extend, the weaker it gets.
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