Article refutes the claim that higher demand and lower supplies are the reason for the high gas prices. Also refuted is the claim that it's due to the weak dollar:

"—there is 'some' truth in that statement. But consider this: The dollar has depreciated 30% against the world's currencies since 2002, while the price of oil has gone up 500%."

 

Submitted: Apr 4, 2008    Views: 358    Comments: 1    Likes: 2   


View Article: http://www.businessweek.com/lifestyle/content/apr2008/bw2008041_945...


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Comments Received:

Sam Cass
Sam_Cass

The article is disturbing. It just doesn't seem sensible that the government would prop up the energy industry, but perhaps that is what's happening. Ethanol is a dumb idea although I'm sure the farmers love it.

Eventually the commodities bubble will burst too. It seems like we've become addicted to these bubbles. I wonder what that says about our financial system.

Posted: Apr 7, 2008



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