Friday, May 02, 2008

Just in case you weren't feeling thoroughly screwed

A graph of crude oil prices since 1946. Data gathered from the US DoE. If you think that changes in the price of oil are NOT created by political and economic tinkering and that they have ANYTHING to do with supply or demand... Think again. Yes, we use more than we discover. But no, the relationship between what we use vs what we produce does not change in proportion to the changes in price. Iran has recently started selling crude oil for Euros or Yen--truly bucking the Petrodollar for the first time--but the price of oil on NYMEX or IPE (where the vast majority of it is still sold) is closely proportional to the value of the dollar. And the dollar is TANKING. This is no accident. Ask your local friendly neighborhood globalist central banker all about it...


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