Oil is $94 a barrel & the value of the dollar is at an all time low. Mmm, maybe Bill Gates & Warren Buffett was smart to exchange their money into the Euro value.
not such a bad thinggibbo67November 1 2007, 23:27:54 UTC
I really don't see this as a bad thing. The closer a barrel of oils gets to its 'true' value (which includes it environmental impact) the better off we are as it increases the market demand for more fuel-efficient vehicles. It will also continue to make other energy sources more competitive (solar water heating vs. oil heated water) and plug-in hybrids (shifting personal auto energy demand from oil to electricity). Of course there is a down-side for the environment--that coal is allowed to become a substitute since most electricity in the U.S. is generated using coal (it does differ state by state)...clean coal is a fucking joke and spews more CO2 in the atmosphere per unit of energy obtained than most every other form of energy out there.
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Also, those with serious money, the super rich and mutual funds etc have already moved their money into the Euro and other "real" currencies.
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We are a way off from having an economy that can shift into "alternative energy" mode....
For now, the inflationary spiral will be real and effect all sectors of the economy....
For the average American, its real pain, right now.....in dollars and cents.....
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