OPEC President Sees $200 Oil Possible
Reply to: comm-659546819@craigslist.org
Date: 2008-04-28, 12:59PM CDT
"The prices are high due to the fact of the recession in the United Sattes and the economic crisis which has touched several countries, a situation which has an effect on the devaluation of the dollar, and therefore each time the dollar falls one percent, the price of the barrel rises by $4, and of course vice versa," he was quoted as saying in brief remarks to journalists on Sunday.
He added that: "If this (the dollar) strengthens by 10 percent, it is probable that (oil) prices will fall by 40 percent."
If the U.S. economic situation improved from now to the end of the year "that would help the market to stabilize."
http://www.nytimes.com/reuters/business/business-oil-opec-president.html?_r=1&oref=slogin
Now let's look at where Republican Deficit spending has taken the dollar...
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
Yes that's us at the bottom of the list.
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