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High oil prices to keep U.S. dollar on ropes »

Posted by: engineer 1 year, 8 months ago

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The longer oil prices remain above $100, the worse things are likely to get for the U.S. dollar. With the greenback hitting all-time lows and no end to its slide in sight, oil exporters are likely to shift a larger share of their revenues into other currencies.

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engineer

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My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...

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engineer
March 19, 2008, 9:27 a.m.
That weakens the dollar further, making dollar-denominated oil more costly for American consumers. Inflation fears also prompt investors to buy commodities as a hedge and favor strong currencies over the weak dollar.
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texangelwings
March 19, 2008, 10:25 a.m.
This is getting very serious! The greed of a few has lessened the value of their own dollars. It is going to take a long time to get the dollar value back!
"What goes around, come around!"
Thanks engineer!
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cowboygrandpa
March 19, 2008, 3:35 p.m.
The greedy bastar*s don't care they are probably investing in other currencies to make sure they win either way.
These people are beyond criminal they are like rabid animals. They have no sense of morality or goodness. Just greed and the poison it brews.
They will answer for it come judgement day. How sad it will be for them. To spend an eternity separated from God for their love of money and power.
I truly pity them, for while I and others suffer for their deeds on earth. It is nothing compared to their suffering in eternity.
Good one engineer.
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nikkibabe
March 19, 2008, 8:52 p.m.
If a Democrats win the US congress and the White House, the first order of business should be to "nationalize" the big oil companies.
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wildman6557
March 20, 2008, 1:26 a.m.
It is not the oil companies.
It is a combination of several things:
1) A war which people are starting to find out isn't free. (Oh gee, You mean we have to pay for it????). This has driven up the budget deficit which is causing the inflation we are seeing now.
2) Outsourcing which has greatly increased the current accounts deficit. (Yes, outsourcing decreases prices.... for a while....)This has made everything into imports. So we import stuff that our country makes and import stuff that other countries make. Gee can anyone see a problem with this?
3)The deregulation of the banking industry. (You mean those guys aren't honest???)We can thank Bush (and Clinton) for this one....