I'm reading in this weeks Time mag which states we only import 42% of our
oil. American oil companies SCREWING Americans! Just like Enron and all the
other American companies F'in us!



wrote in message
ups.com...
While fuel prices are in the news a lot these days, we might do well to
realize that the value of crude oil hasn't really gone up as much as we
think- much of the price pain is because the US dollar has gone down.

Oil is an international commodity, and the producers can sell it almost
anywhere in the world. The US dollar is getting clobbered on foreign
exchanges all around the planet. It took $1.60 Canadian to buy a US
dollar about a year ago, and it now takes only about $1.20. It's the
same with almost all other currencies vs. the dollar. If we're going to
buy an internationally marketable resource and pay for it with a
declining currency, why should we be surprised if it takes more of
those depreciating dollars to buy the same bbl of oil?