The price of oil
These numbers are approximate, but close enough for this exercise.
In Jun 2006, a barrel of oil cost approx $70, or 55.50 euros. (approx E1.26=$1)
Today, a barrel of oil costs $110, or approx E70. (E1.56=$1).
In percentages, a barrel of oil has gone up 57% against the dollar or 26% against the euro.
The weak dollar is making oil even more expensive than it really needs to be and the dollars flowing out of the US to buy oil will make things worse....
In Jun 2006, a barrel of oil cost approx $70, or 55.50 euros. (approx E1.26=$1)
Today, a barrel of oil costs $110, or approx E70. (E1.56=$1).
In percentages, a barrel of oil has gone up 57% against the dollar or 26% against the euro.
The weak dollar is making oil even more expensive than it really needs to be and the dollars flowing out of the US to buy oil will make things worse....
posted by Andy in San Diego and Elsewhere at 3/16/2008 07:23:00 PM
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