Originally Posted by
magicant
So, the question is: what's changed in a significant way in the last year in our environmental policy that would cause rampant increases in oil and fuel prices? There are things that have changed, though: the value of the dollar has been in the tank and gotten far worse in the last 8 months - that certainly has an impact when competing against other nations for oil.
I .
There is more worldwide demand - China and India are now HUGE buyers of oil - this wasn't so even 10 years ago. We've got more people who want to buy the same oil.
You're right about the declining dollar - the worldwide price of oil is denominated in dollars - if the value of the dollar drops, a barrel of oil will cost more dollars.
Rather than a political discussion, this is an economical one.