“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.”
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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.
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.
Inflation is an unequal distribution. There’s no telling necessarily where prices will rise first once new dollars are created. Energy prices are up in general for a variety of reasons but to dismiss the weak dollar as one of them is wrong.
I’m not against drilling, in fact I’m for it (as well as a host of other things we’re not currently doing), but the root cause of our issues is a weak dollar.
The price of oil is going back up because the world sees that Pelosi’s drill bill is a joke. They all thought we were going to get serious about oil independence, but the dems have shown otherwise. One more reason to vote straight GOP on Nov 4.