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Re: oil in euros matches 2008 high
So we're headed for peak cheap oil spike #2? -
Re: oil in euros matches 2008 high
europe is already there.Originally posted by davidstvz View PostComment
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Re: oil in euros matches 2008 high
Doesn't that also illustrate the stronger dollar, from near parity in 2008 to now?Comment
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Re: oil in euros matches 2008 high
the euro was over 1.50 when oil peaked in '08, so a weaker euro is certainly part of the story.Comment
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Re: oil in euros matches 2008 high
As per the trials and tribulations of the world's (oil based) reserve currency.Comment
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Re: oil in euros matches 2008 high
I recall EJ mentioning(I'm paraphrasing) that the world economy simply couldn't handle an oil price spike back to it's previous high from circa 2007-2008.
Maybe I misread it or took it out of context to think that he thought we probably wouldn't see the price likely to exceed it(at least in the immediate future), because it would likely flounder BEFORE hitting it(since we don't have as much fat or "meat on the bone" to absorb it?
Was EJ's commentary focused on the US Dollar price(I seem to recall circa/approx $125)?
And did he mention anything about the price in Euros? I don't recall it.....but I'm guessing it must suck in the EU right about now....debt crisis, austerity measures AND energy price spike.
Not trying to stick EJ's feet in the fire....as stated I might have misread/took out of context....and the drumbeats of war(or just melodrama by the likes of Iran to pump up the price) can't be forecast with accuracy.
Thoughts?Comment
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