[April Lexington]

Drilling for American oil is not going to help in this case. The price is not increasing due to an oil shortage. Oil is sold in dollars and the value of the dollar is collapsing so the relative value of oil to a weakening dollar is increasing. In short... your money is turning into worthless paper.

[Eric in the Ozarks]

You nailed it, April.

[netmilsmom]

>>Oil is sold in dollars and the value of the dollar is collapsing so the relative value of oil to a weakening dollar is increasing<<

To a point. If you are using American Dollars to by overseas products, it’s a huge hit. If you are using American Dollars to buy American products, less of a hit.

And flooding the market with cheap oil will improve things for us. Evenually, when (minus the deflation of the dollar) there is so much oil that the price drops, it’s good for all of us.