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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (24783)	5/23/2004 11:08:19 AM
From: BEEF JERKEY	Read Replies (1) \| Respond to of 81568

From the article you posted: "Russia has also signalled that it intends to price its oil and gas exports in euros" Prior to the invasion Iraq was pricing it's oil in Euros and so was Iran. Its naive to think that the fall in the value of the US buck hasn't contributed to higher oil prices. More oil is shipped from the Middle East to Europe that to the States - this put pressure on the price of oil in US $$ as the dollar's value fell. Otherwise they would have been getting less money (in Euros ) for their oil as the dollar fell. The article you potsed argues that the Euro isn't ready to become the world's reserve currency - yet. That isn't the same as saying the fall in the value of the world's currency, the US buck, didn't cause the price of oil to rise. Further all the turmoil Bush has caused in the Middle East has added a ~$5 premium to the price of oil. Plainly speaking Bush is an incompetent and such ineptness is responsible for the higher oil prices.