Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: BubbaFred who wrote (56602)	11/28/2004 7:23:38 PM
From: Raymond Duray	Read Replies (1) of 74559

Fred, Re: OPEC only wanted to maintain it at $30 and is undoubtedly a nice surprise to be enjoying today's price levels. You need to look at the price in a different fashion. While in terms of the US$ crude oil has moved from $30 to $50 in a couple years, in terms of the Euro, the price of oil has hardly budged. Viewed this way, it can be stated that oil hasn't gone up in price, contrariwise, it the dollar that has lost its luster. *** Interesting tidbit on Venezuela possibly joining in with a new global economic alliance: vheadline.com

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