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New Price of Oil
Posted: Fri Sep 21, 2007 1:09 am
D. Green
Joined: 30 May 2006
Posts: 49
Location: Cut & Shoot, Tx
Buy it now, oil is still steadily increasing in price. It closed today at $83.32 bbl. The 50 point cut in the Fed interest rate lowered our dollar against the world's currencies, hence it will take more of them to buy anything from outside the US.
The US$ lost ground against every major world currency. Even Canada's dollar is now on par with the US dollar, as of today.
Everything valued in U.S. dollars will be inflated, including the food you eat, the clothes you wear, the gas that goes in your car and the fuel that goes in your truck. What have you bought lately that didn't come from outside the US?
The one bright spot, things made in the USA will be cheaper... if we can find any. Most manufacturing has been outsourced........
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