Oil soars to record high $84.10 a barrel as US dollars sinks to record low

[Harry Hope]

From Reuters, 9/20/07:
http://www.reuters.com/article/bondsNews/idUSN2043682620070920

Oil hits high over $84

Dollar sinks to lifetime low versus euro

By Christopher Reese

NEW YORK, Sept 20 (Reuters) -

The dollar sank to a record low against the euro and fell to parity
with the Canadian currency for the first time in 31 years on Thursday,
driving up gold and oil prices, as the Federal Reserve's interest-rate
cut continued to ripple through global markets.

The weakness in the dollar raised worries about inflation, pushing
U.S. stocks lower and triggering a sharp sell-off in longer-dated
Treasury bonds.

U.S. stocks and Treasury bonds fell as the dollar's weakness revived
worries about inflation.

Spot gold surged to $738.30 an ounce, the highest since January 1980,
and front-month U.S. crude oil futures touched a record $84.10 a
barrel.

_______________________________________________

Harry

 

[Tab182]

On Sep 20, 5:07 pm, Harry Hope <riv...@ix.netcom.com> wrote:
> From Reuters, 9/20/07:http://www.reuters.com/article/bondsNews/idUSN2043682620070920
>
> Oil hits high over $84
>
> Dollar sinks to lifetime low versus euro
>
> By Christopher Reese
>
> NEW YORK, Sept 20 (Reuters) -
>
> The dollar sank to a record low against the euro and fell to parity
> with the Canadian currency for the first time in 31 years on Thursday,
> driving up gold and oil prices, as the Federal Reserve's interest-rate
> cut continued to ripple through global markets.
>
> The weakness in the dollar raised worries about inflation, pushing
> U.S. stocks lower and triggering a sharp sell-off in longer-dated
> Treasury bonds.
>
> U.S. stocks and Treasury bonds fell as the dollar's weakness revived
> worries about inflation.
>
> Spot gold surged to $738.30 an ounce, the highest since January 1980,
> and front-month U.S. crude oil futures touched a record $84.10 a
> barrel.
>
> _______________________________________________
>
> Harry

Tellya Harry with home heating oil now loking to be $3.00+ a gallon
soon, I ain't looking forward to a "White Christmas"this year!

In fact if oil keeps going up at this rate I think I am have going to
have to skip Christmas this year?

 

[Jerry Okamura]

The higher the price of oil is not necessarily a bad thing to happen. The
higher the price means that alternatives to oil become a more practical
alternative.

"Harry Hope" <rivrvu@ix.netcom.com> wrote in message
news:m7o5f35n7o2178j94e4ko5ce4fm1ehmskt@4ax.com...
>
> From Reuters, 9/20/07:
> http://www.reuters.com/article/bondsNews/idUSN2043682620070920
>
> Oil hits high over $84
>
> Dollar sinks to lifetime low versus euro
>
> By Christopher Reese
>
> NEW YORK, Sept 20 (Reuters) -
>
> The dollar sank to a record low against the euro and fell to parity
> with the Canadian currency for the first time in 31 years on Thursday,
> driving up gold and oil prices, as the Federal Reserve's interest-rate
> cut continued to ripple through global markets.
>
> The weakness in the dollar raised worries about inflation, pushing
> U.S. stocks lower and triggering a sharp sell-off in longer-dated
> Treasury bonds.
>
> U.S. stocks and Treasury bonds fell as the dollar's weakness revived
> worries about inflation.
>
> Spot gold surged to $738.30 an ounce, the highest since January 1980,
> and front-month U.S. crude oil futures touched a record $84.10 a
> barrel.
>
> _______________________________________________
>
> Harry

 

[Winston Smith, American Patriot]

"Jerry Okamura" <okamuraj005@hawaii.rr.com> wrote in alt.politics.bush:

> The higher the price of oil is not necessarily a bad thing to happen.
> The higher the price means that alternatives to oil become a more
> practical alternative.

Uh, given our total dependence on crude and its derivatives, do you really
believe that we can switch from oil to buying its "alternative" as we
might switch from buying butter to margarine?


> "Harry Hope" <rivrvu@ix.netcom.com> wrote in message
> news:m7o5f35n7o2178j94e4ko5ce4fm1ehmskt@4ax.com...
>>
>> From Reuters, 9/20/07:
>> http://www.reuters.com/article/bondsNews/idUSN2043682620070920
>>
>> Oil hits high over $84
>>
>> Dollar sinks to lifetime low versus euro
>>
>> By Christopher Reese
>>
>> NEW YORK, Sept 20 (Reuters) -
>>
>> The dollar sank to a record low against the euro and fell to parity
>> with the Canadian currency for the first time in 31 years on
>> Thursday, driving up gold and oil prices, as the Federal Reserve's
>> interest-rate cut continued to ripple through global markets.
>>
>> The weakness in the dollar raised worries about inflation, pushing
>> U.S. stocks lower and triggering a sharp sell-off in longer-dated
>> Treasury bonds.
>>
>> U.S. stocks and Treasury bonds fell as the dollar's weakness revived
>> worries about inflation.
>>
>> Spot gold surged to $738.30 an ounce, the highest since January 1980,
>> and front-month U.S. crude oil futures touched a record $84.10 a
>> barrel.
>>
>> _______________________________________________
>>
>> Harry
>
>

 

[wbyeats@ireland.com]

On Thu, 20 Sep 2007 14:24:49 -1000, "Jerry Okamura"
<okamuraj005@hawaii.rr.com> wrote:

>The higher the price of oil is not necessarily a bad thing to happen. The
>higher the price means that alternatives to oil become a more practical
>alternative.

(snip)

That part's certainly true. But take a look worldwide where the thirst
for oil is accelerating - as it is in the US. Cost per barrel has
risen almost 140% in the US while the raise in Europe has been half
that. Can you say competitive disadvantage? Thanks Bush.

WB Yeats