If We Drill in the US, We Don't Get the Oil | 28 comments (28 topical, 0 hidden)
not quite (none / 0)
The dollar has alwasy been around 2:1 against the pound give or take a few cents.  Since 2004 the exchange rate has been at least $1.80/pound.  Yes the dollar is sinking, but it doesn't explain oil prices.

http://finance.yahoo.com/cu rrency/convert?from=GBP& ;to=USD&amt=1&t=5y

The yen exchange rate has changed even less:

http://finance.yahoo.com/cu rrency/convert?from=JPY& ;to=USD&amt=1&t=5y

The Euro/Dollar exchange rate has change a good bit, but I think that more reflects a shift in the global financial markets towards the Euro as equivalent to the dollar as a reserve currency (strengthening of the euro) along with the weakening of the dollar. 

by alphasigmookie on 07/23/2008 02:20:32 PM EST

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If We Drill in the US, We Don't Get the Oil | 28 comments (28 topical, 0 hidden)