Why Are We Paying $89 A Barrel for Oil? (Answer: It’s Not What You Think)

19 10 2007

It’s just not “Middle East tensions” or demand from China or India or speculators–it’s that the U.S. dollar has fallen as a direct result of Bush’s policies, namely runaway spending on the war and massive tax cuts to the rich. The proof is that Europeans effectively only pay $60 a barrel. With a chart to prove it.

read more | digg story

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