Quote:
Originally Posted by peterk
I'm starting to wonder when the $$$ will start to raise again. I just heard a news that the petrol barrel reached 81.8$  |
Peterk, here's some homework for you. Go look at the price of oil in the last 4 years. Then go look at the exchange rate of the euro to the dollar, and then look at the price of oil in euros in the last 4 years as a result.
The reality is that high US dollar oil prices haven't affected the rest of us as much because the exchange rate has damped out a fair bit of it. The $81 barrel of oil for Canadians appears to be only a $50 barrel of oil when you consider how the exchange has moved - yes oil is up, but not by the 3 times that the US is seeing.
I think that in many ways, this is a nice sneak economic attack on the US by the oil producing nations, many of which are against the US.