View Poll Results: Gas Prices
Yes
52
39.69%
No
75
57.25%
Group money
4
3.05%
Voters: 131. You may not vote on this poll
Gas Prices
05-10-2004, 09:34 AM
#35
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Originally posted by Chris232
The morning news said this is just the beginning expect 3 bucks accross the country..
The morning news said this is just the beginning expect 3 bucks accross the country..
Watch the value of the dollar versus the Euro to determine the price of oil. Oil is the major commodity that is dollar based world wide. Let me give you an example:
When oil was at $25 the Euro was 1.20 vs the $ OPEC could buy $30 worth of goods and services in Europe.
When oil was $35 and it took $1.20 to buy a Euro OPEC was only able to buy $28 worth of goods and services in Europe.
We are now seeing the US dollar rally vs the Euro and with the election ahead it may be wise to have the US dollar strengthen further, thus allowing OPEC to reduce the cost of a barrel of oil. This may all be too late to have much effect on summer boating but should put a cap on prices before too long.
As I write, the price of oil on the futures market is down $1.50.
****the value of the dollar is not the only factor in the price of oil.
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05-10-2004, 01:37 PM
#38
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This is a good thread for that sheet on which gas stations buy their oil from which countries.
It went around after 9/11. The idea was to get people to buy less Saudi gas I think.
Maybe if somebody is getting rich off of me I should decide which country the money's going to?
I'll look for that sheet. Maybe somebody else will post it inthe meantime.
It went around after 9/11. The idea was to get people to buy less Saudi gas I think.
Maybe if somebody is getting rich off of me I should decide which country the money's going to?
I'll look for that sheet. Maybe somebody else will post it inthe meantime.
