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US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"

 
Punisher
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06/23/2009 03:26 PM
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US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
When Barrack Obama took office on Jan 20th 2009, oil prices per the barrel were $38.57
[link to tonto.eia.doe.gov]

The US dollar was 0.75410 against the second strongest currency of the World, the Euro.
[link to www.oanda.com]

Today oil is trading at $69.45 and the Dollar (1 USD = 0.7101 EUR).


What's wrong with this picture?


From Jan 20th to June 23rd the Dollar lost a little under 6% -- So why does it cost 80% more to buy the oil barrel if oil is denominated in the US Dollar? (petro-dollar)

I hope to soon hear from the wise folks of GLP's economic talents!!


Disclaimer: You need simple and basic 3rd grade arithmetic skills to be capable of answering, and a strong disbelief in Government science. 1.00794 + 1.00794 - (some mass) = [is not] 4.002602

Last Edited by Manchurian apocalypse on 06/23/2009 04:23 PM
PatrikC325

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06/23/2009 03:31 PM

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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
A lot of world money ran into oil as a safe haven and that raised the price. That is the reason I believe oil will fall to around $50 a bbl soon.

Last Edited by PatrikC325 on 06/23/2009 03:31 PM
Punisher (OP)

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06/23/2009 03:35 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
A lot of world money ran into oil as a safe haven and that raised the price. That is the reason I believe oil will fall to around $50 a bbl soon.
 Quoting: PatrikC325

This is complete Horse-Hockey, sorry Patrik.


- Why would anyone want to pay more for something?

- Do you want to pay more when you're buying stuff?


World Oil consumption is down, this alone should put in effect the laws of economics to lowside.

Last Edited by Manchurian apocalypse on 06/23/2009 04:20 PM
PatrikC325

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06/23/2009 03:37 PM

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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
The price of oil is based on futures and speculators have driven up the price just like when it went to $140!
Punisher (OP)

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06/23/2009 03:40 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
The price of oil is based on futures and speculators have driven up the price just like when it went to $140!
 Quoting: PatrikC325

Well Patrik you're going against your own argument, because the consumption decreased as oil prices increased.

Futures is just a fantasy word for manipulation, because no-one, I repeat no-one knows the future unless they're in the business of making that future (manipulation).

peace
PatrikC325

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06/23/2009 03:42 PM

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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
My argument is the same. This rise in oil from the 30s to the 70s is due to Money investing in the futures of oil as a commodity.
Punisher (OP)

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06/23/2009 03:50 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
My argument is the same. This rise in oil from the 30s to the 70s is due to Money investing in the futures of oil as a commodity.
 Quoting: PatrikC325

Well fine then Patrik, remain against the laws of economics. The price of oil has a direct impact on its consumption, the more it costs the less is consumed. The less is consumed the lower the price drops. Just look at the housing bust...


And besides you're completely off topic oil is denominated in the US Dollar alone, this is equivalent to gold-standard principals. If the Dollar loses x-percentage, gold increases by that exact percentage lost! Not by FUTURES...

peace

Last Edited by Manchurian apocalypse on 06/23/2009 03:50 PM
Punisher (OP)

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06/23/2009 03:57 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
Obama has been following the same steps of his predecessor (W) by raising oil prices to shore up excess US dollars. Oil prices have already doubled from January under Obama, trust that more "change" is to come.

Oil wells are split, some sell in Euro, others in Dollar. Countries who trade with the US are forced to buy oil at wells that denominate in Dollars. But those same countries will hedge their Dollar reserves and trade surpluses against the USD falling value into other assets. So the US raised oil prices under George Bush double, triple, and finally quadruple so there would be very little Dollars left too hedge and trickle back into the US causing further devaluation. Costing those countries more dollars to purchase oil they were left with less from trade surpluses to convert into other assets, this helped to strengthen and sustain the USD from falling any further.

The only drawback with raising oil prices is that it crushed the World economy and sent it into a Miniscule Depression, and that raising OIL prices again will further crush the World economy sending it into a Great Depression.
 Quoting: PUNISHER 690728
bump bump
Punisher (OP)

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06/23/2009 04:21 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
peace

peace
Punisher (OP)

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06/23/2009 04:43 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
Ah come on!

There has to be just one on GLP who can answer the OP...

Anyone, with, or without a high-school diploma, anyone!!!

Dr Postman you always have something to say where are you?

bump bump
Anonymous Coward (OP)
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06/23/2009 05:48 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
bump

bump
Nailer45

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06/23/2009 05:51 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
When Barrack Obama took office on Jan 20th 2009, oil prices per the barrel were $38.57
[link to tonto.eia.doe.gov]

The US dollar was 0.75410 against the second strongest currency of the World, the Euro.
[link to www.oanda.com]

Today oil is trading at $69.45 and the Dollar (1 USD = 0.7101 EUR).


What's wrong with this picture?


From Jan 20th to June 23rd the Dollar lost a little under 6% -- So why does it cost 80% more to buy the oil barrel if oil is denominated in the US Dollar? (petro-dollar)

I hope to soon hear from the wise folks of GLP's economic talents!!


Disclaimer: You need simple and basic 3rd grade arithmetic skills to be capable of answering, and a strong disbelief in Government science. 1.00794 + 1.00794 - (some mass) = [is not] 4.002602
 Quoting: Punisher


the fraud market is all SPECULATION when it comes to buying and selling. Of course the feds will regulate banks but will never touch the OIL industry.
Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.
Thomas Jefferson
Jym
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06/23/2009 05:53 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
A lot of world money ran into oil as a safe haven and that raised the price. That is the reason I believe oil will fall to around $50 a bbl soon.

This is complete Horse-Hockey, sorry Patrik.


- Why would anyone want to pay more for something?

- Do you want to pay more when you're buying stuff?


World Oil consumption is down, this alone should put in effect the laws of economics to lowside.
 Quoting: Punisher



Ill have to side with Patrick on this
sounds stupid but yep price speculation by people sitting around on their asses is what drives the price of crude oil up
Anonymous Coward
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06/23/2009 05:55 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
higher oil prices are good for the USD, to a point, as that means more $USD are transacting. Expensive oil does not necessarily mean devalued dollars.
Anonymous Coward (OP)
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06/23/2009 06:56 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
When Barrack Obama took office on Jan 20th 2009, oil prices per the barrel were $38.57
[link to tonto.eia.doe.gov]

The US dollar was 0.75410 against the second strongest currency of the World, the Euro.
[link to www.oanda.com]

Today oil is trading at $69.45 and the Dollar (1 USD = 0.7101 EUR).


What's wrong with this picture?


From Jan 20th to June 23rd the Dollar lost a little under 6% -- So why does it cost 80% more to buy the oil barrel if oil is denominated in the US Dollar? (petro-dollar)

I hope to soon hear from the wise folks of GLP's economic talents!!


Disclaimer: You need simple and basic 3rd grade arithmetic skills to be capable of answering, and a strong disbelief in Government science. 1.00794 + 1.00794 - (some mass) = [is not] 4.002602
 Quoting: PUNISHER

the fraud market is all SPECULATION when it comes to buying and selling. Of course the feds will regulate banks but will never touch the OIL industry.
 Quoting: Nailer45

Thanks for your post, unfortunately you forgot to address the OP.

Maybe next time!!!

peace
Punisher (OP)

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06/23/2009 07:04 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
Ill have to side with Patrick on this
sounds stupid but yep price speculation by people sitting around on their asses is what drives the price of crude oil up
 Quoting: Jym 272826

That's fine, unfortunately you're going against the very laws of economics. Try and imagine a commodity such as gold when it was pegged to the Dollar for the answers.

peace
Punisher (OP)

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06/23/2009 07:30 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
higher oil prices are good for the USD, to a point, as that means more $USD are transacting. Expensive oil does not necessarily mean devalued dollars.
 Quoting: Anonymous Coward 698190

Look at this link carefully.
[link to tonto.eia.doe.gov]

Oil prices were always steady, and during the years the Feds printed much debt oil-prices fluctuated to the Dollars devaluation nicely. When the oil-war-currency began between the Europeans and the Americans, history tells the tale.


peace
Jym
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06/23/2009 07:32 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
Ill have to side with Patrick on this
sounds stupid but yep price speculation by people sitting around on their asses is what drives the price of crude oil up

That's fine, unfortunately you're going against the very laws of economics. Try and imagine a commodity such as gold when it was pegged to the Dollar for the answers.

peace
 Quoting: Punisher


what are you getting at?
Both gold and oil move up and down just like a stock.

I wish i had a chart that showed the 70's but mine dont go back that far.
In the 70's gold went from being sub $100 to around $700 i think (google these numbers...i dont feel like looking it up)
priced up due to speculation

Youll also notice the dollar is worth as much in 1992 and 1995 as it is now and gold was in the $400 range.
again thats due to speculation driving the price up now

Gold from 1993 to present
[link to i214.photobucket.com]
Oil from 2003 to present
[link to i214.photobucket.com]

Dollar from 1992 to present
[link to i214.photobucket.com]
PUNISHER
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06/23/2009 08:38 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
what are you getting at?
Both gold and oil move up and down just like a stock.
 Quoting: Jym 710164

Gold only began to fluctuate after the gold standard.

Oil replaced Gold as the commodity the Dollar is pegged too!

Look at this link carefully.
[link to tonto.eia.doe.gov]

Oil prices were always steady, and during the years the Feds printed much debt oil-prices fluctuated to the Dollars devaluation nicely. When the oil-war-currency began between the Europeans and the Americans, history tells the tale.

I wish i had a chart that showed the 70's but mine dont go back that far.
In the 70's gold went from being sub $100 to around $700 i think (google these numbers...i dont feel like looking it up)
priced up due to speculation

Youll also notice the dollar is worth as much in 1992 and 1995 as it is now and gold was in the $400 range.
again thats due to speculation driving the price up now

Gold from 1993 to present
[link to i214.photobucket.com]
Oil from 2003 to present
[link to i214.photobucket.com]

Dollar from 1992 to present
[link to i214.photobucket.com]
 Quoting: Jym 710164

This is after the Gold Standard.

You must look to when Gold was pegged to the US Dollar.
Anonymous Coward
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06/23/2009 09:28 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^666

Did you look?

hiding
Anonymous Coward
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06/23/2009 11:09 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
because the price of oil went up.
Anonymous Coward
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06/23/2009 11:58 PM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
Because it's a tried and true way to get more money from you to them. If its too expensive, don't buy it. Why am I supposed to pay $114.66 a month to watch TV? I shut my old analog TV off. Since there is no picture or sound on it anymore I don't have to watch it for anything. I save hours of time every day. Oh yeah, don't forget to unplug the fucking thing so as to disable the hidden microphones embedded in its' ciruitry.


The USD lost 6% of what? Color? Size? Sex appeal?
Anonymous Coward
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06/24/2009 12:00 AM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
because the price of oil went up.
 Quoting: Anonymous Coward 710179

The price of oil is denominated by the USD.

If the USD loses 10% that's how much more it will cost to buy oil.

If the USD gains 10% that's how much less it will cost to buy oil.
Anonymous Coward
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06/24/2009 12:01 AM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
The USD lost 6% of what? Color? Size? Sex appeal?
 Quoting: Anonymous Coward 688499

Value to the rest of World currencies.
Anonymous Coward
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06/24/2009 12:03 AM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
because the price of oil went up.

The price of oil is denominated by the USD.

If the USD loses 10% that's how much more it will cost to buy oil.

If the USD gains 10% that's how much less it will cost to buy oil.
 Quoting: Anonymous Coward 710346

The price of the US treasury bond is denominated in USD.
Jym
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06/24/2009 12:04 AM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
what are you getting at?
Both gold and oil move up and down just like a stock.

Gold only began to fluctuate after the gold standard.

Oil replaced Gold as the commodity the Dollar is pegged too!

Look at this link carefully.
[link to tonto.eia.doe.gov]

Oil prices were always steady, and during the years the Feds printed much debt oil-prices fluctuated to the Dollars devaluation nicely. When the oil-war-currency began between the Europeans and the Americans, history tells the tale.


I wish i had a chart that showed the 70's but mine dont go back that far.
In the 70's gold went from being sub $100 to around $700 i think (google these numbers...i dont feel like looking it up)
priced up due to speculation

Youll also notice the dollar is worth as much in 1992 and 1995 as it is now and gold was in the $400 range.
again thats due to speculation driving the price up now

Gold from 1993 to present
[link to i214.photobucket.com]
Oil from 2003 to present
[link to i214.photobucket.com]

Dollar from 1992 to present
[link to i214.photobucket.com]

This is after the Gold Standard.

You must look to when Gold was pegged to the US Dollar.
 Quoting: PUNISHER 690728


im sorry if this thing is getting really jumbled but does anyone else get what this dude is saying?
if you do, tell me because Im seriously not being a smartass right now when i say this.

and look at this chart that shows Oil from 1970 til now
It wasnt exactly a flat line from 1970 until 1984

So oil was offically pegged to the Dollar in 85?
is that what you're saying?

[link to tonto.eia.doe.gov]
Punisher (OP)

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06/24/2009 12:27 AM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
The price of the US treasury bond is denominated in USD.
 Quoting: Anonymous Coward 710179

LOL, what a retard, but a funny retard...

Ha,Ha,Ha, oh yeah and the price of the USD is denominated in the USD, lololololololol!!!! Fawk you made my night!!!


peace

peace
Anonymous Coward
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06/24/2009 12:41 AM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
The price of the US treasury bond is denominated in USD.

LOL, what a retard, but a funny retard...

Ha,Ha,Ha, oh yeah and the price of the USD is denominated in the USD, lololololololol!!!! Fawk you made my night!!!


peace

peace
 Quoting: Punisher

'm glad I could lighten your load, friend. SAR is pegged to the USD and it's the US TB that denominated in USD, not Saudi Ryals.
Punisher (OP)

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06/24/2009 12:41 AM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
So oil was offically pegged to the Dollar in 85?
is that what you're saying?

[link to tonto.eia.doe.gov]
 Quoting: Jym 710350

I never said that, 'where you got that' is up for speculation.

and look at this chart that shows Oil from 1970 til now
It wasnt exactly a flat line from 1970 until 1984
 Quoting: Jym 710350

If you look at the chart carefully.
[link to tonto.eia.doe.gov]

You will note that when oil first became pegged to the Dollar in the 70's, prices were steady resulting an actually straight line. Then the geniuses in Washington figured how to curb Dollar devaluation from over printing money by hiking oil prices to shore up excess US Dollars in circulation.

Last Edited by Manchurian apocalypse on 06/24/2009 12:41 AM
Anonymous Coward
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06/24/2009 12:45 AM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
Just google "peak oil"

Be prepared to do some serious reading for a couple hours.

It's well worth the research and you owe it to yourself to learn and prepare.
Punisher (OP)

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06/24/2009 12:46 AM
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Re: US Dollar lost 6% from Jan 20-09:"Why are we paying 80% more for Oil?"
Just google "peak oil"

Be prepared to do some serious reading for a couple hours.

It's well worth the research and you owe it to yourself to learn and prepare.
 Quoting: Anonymous Coward 607407

Already did, peak oil is a lie. Thanks for the heads up!

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