Tuesday, April 18, 2006

Oil prices up, dollar down.

Oil prices have reached over $70 bucks a barrel. Back in 2000 didn't Bush say that having two oil men in the White House would keep gas prices down? Did you believe him?

Here's the reason that crude oil prices have skyrocketed.

Traders are anxious
that U.S.-led efforts
to stop Iran, OPEC's second-largest member, from
pursuing a suspected nuclear weapons program would lead to a disruption in
Persian Gulf supplies.

China owns so much of our debt that have us by the short and curlies. Hard to believe that China has more say over the value of our currency than we do. Let's thank Congress and Mr. Bush.

AP Dollar Falls Sharply in Asian TradingMonday April 17, 5:35 am ET

Dollar Falls
Sharply Against the Euro and Yen in Asian Trading

TOKYO (AP) -- The dollar fell sharply against the euro and yen in Asia Monday
on a media report suggesting that China might reduce its purchases of U.S.
Treasury holdings, and amid speculation that U.S. interest rates may have

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I did not mean that Conservatives are generally stupid; I meant, that stupid persons are generally Conservative. I believe that to be so obvious and undeniable a fact that I hardly think any hon. Gentleman will question it.

John Stuart Mill (May 20 1806 – May 8 1873)