Thursday, March 13, 2008

Meanwhile, back at the ranch…

Oil Rises to a Record $111 on Weak Dollar,

Crude oil rose to a record $111 a barrel in New York as the sinking value of the dollar attracted investors to commodity markets and a government report showed that U.S. natural-gas supplies fell. The dollar dropped below 100 yen earlier today for the first time since 1995 and declined to a record low against the euro after a Carlyle Group fund moved closer to collapse. Supplies of natural gas, a competing fuel, fell 86 billion cubic feet to 1.398 trillion cubic feet last week, the Energy Department said.

Posted by tyrellcorporation @ 03:27 PM (600 views)
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6 thoughts on “Meanwhile, back at the ranch…

  • Doesn’t Bush have an oil well or two????? Not to mention his new ones in Iraq. Take from the American people and give to himself………he must be loving this whole devaluation thang.

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  • Inflation is breaking out everywhere. All you need is for an Arab state to unpeg and it’s all over. I.e., total crash. It wont be good for the UK either – we are tied closely to the States economically (witness our willingness to go into Iraq).

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  • “………he must be loving this whole devaluation thang.”

    But it makes travelling to other coutries and experiencing their culture more expensive.

    Oh, no – hang on – he never even had a passport did he.

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  • inbreda, who needs a passport when you have your own aircraft carrier sporting a sign saying “Mission Accomplished”?

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  • Bush and Cheney are oilmen, they like high oil prices. The reason for invading Iraq was to *control* the flow and hence the price, not to flood the world with cheap oil.

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  • planning4acrash says:

    S2r, is this the correction you referred too? Your charts reflect dynamic relationships that peak oil, already occured, will smash, once prices breach stability thresholds. This is key to destroying power structures and new patterns will emerge.

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