On Thu, 28 Feb 2008 21:33:17 -0800 (PST), Chuck Gould
wrote:

Ask Chuck how the value of an item is determined?

With oil, its the price at which a desperate buyer and a greedy
oligarchist agree to do business. :-)

Precisely, supply and demand just like everything else. Why not
complain about the price of gold instead? Exactly the same market and
currency factors are at work.

You maintain that you don't need gold as much as oil? If you had
gold, you could buy oil with it at roughly the same "price" as 3 years
ago. Lacking gold you could pay with euros instead and experience
much less of a price increase.