Comments:Dow plunges as oil prices break records
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Euro versus Dollar
Those in the community who have their AFDB tightly secured might be among the people who claimed Iraq was invaded for oil and political reasons. The one I heard rumours of was switching to trading oil in the Euro. I know, and from personal financial experience, that the dollar has been diving more than a highly paid Italian footballer. How much has the dollar dive impacted oil? What if - pre Iraq War - oil started trading in Euro? Would we be screaming about price rises, or is it "look over there! the value of our currency isn't falling!"?
It would be interesting to know if you took the oil price the day before the Iraq invasion, converted it to euro, and plotted the rise against the rise in dollars. Yes, this is just re-plotting the dollar going down the drain, but there might just be that 0.00001% of the U.S. population who got clued up that Republican administrations take you to hell in a handbasket. --Brian McNeil / talk 00:04, 7 June 2008 (UTC)
- Funny you should bring this up. Just yesterday, I plotted a chart of oil prices over the Euro. I don't have the chart on hand, but if it is done from when the Euro bottomed out against the dollar at around 80 cents to now at nearly $1.60/€, oil prices have obviously not gone up nearly as much for Euro-based countries. It is something on the scale of doubling versus tripling.
- However, pricing oil in either currency really only affects the oil producing countries and not the buyers. The sour note for the Saudis and other exporters of oil is they they are the ones with the cold hard cash in Dollars, the value of which has gone down. So when the UAE builds the Burj Al Arab or The World, which I understand to be done with European contractors primarily, their cost of labor has gone up significantly.
- In my opinion, the rise in oil and drop in the dollar, dispells the conspiracy theory that the Iraq invasion was conducted to "steal their oil". --SVTCobra 00:54, 7 June 2008 (UTC)
Oil price breaks record because of manipulating.
Hi, guys out there, are we going to let these market manupulators to suck our blood last drop !!! Why don't we do something about it ----- PRIVATE CARS OWNERS DON'T DRIVE YOURS STUPID CARS FOR ONE WEEK. Then we may see the drop in oil price ! —Preceding unsigned comment added by 126.96.36.199 (talk) 06:31, 7 June 2008 (UTC)