It's a happy jig, too!!!
Related: A Slowly Dying Dollar
Thus the obfuscation:
"With dollar weak, oil’s price tops $80" by Bloomberg News | November 10, 2009
NEW YORK - Oil prices shot above $80 a barrel yesterday as a weakened US dollar created more turbulence in energy markets than a tropical storm heading into the Gulf of Mexico.
Ida forgotten about by the Glob today -- part of a pattern, I've noticed.
See: Ida and El Salvador
I guess it didn't make landfall.
Ida had helped push crude prices higher all morning, but just as the then-hurricane was demoted to a tropical storm, the euro pushed past the $1.50 level for the first time this month and sent oil even higher. Investors holding euros or other strong currencies can buy more dollar-based crude when the US currency falls....
Translation: A WEAK DOLLAR is why PRICES (for everything, not just gasoline) are RISING in AmeriKa -- even with a SUPPLY GLUT!
Given the huge surplus in oil, natural gas, and gasoline, the reaction to Ida appeared muted.
Then shouldn't prices be coming down?
--more--"
