Re: From "The Daily Reckoning"
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Message: Re: From "The Daily Reckoning"
BKM8572
The author in the article you posted is avoiding the root cause of high oil prices by diverting attention to the US dollar. The graph below from an article by Dave Cohen (http://www.energybulletin.net/44192.... )
illustrates that the demand for oil exceeded the supply sometime in 2006. The price has skyrocketed since then. The data for the graph was taken from the EIA's official database. I believe that the dollar's devaluation and the price of oil is not a cause and effect relationship but rather the direct result of demand for oil exceeding the supply.
Martin
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