What they are NOT saying is that the reason the dollar is falling is because the rest of the world is going to abandon using the dollar for oil sales.The FED is totally supporting busted big banks who wildly speculated and lost. The FED is passing this loss onto the taxpayer. The FED is not on the taxpayer side at all. They are trying to once again inflate busted real estate to save the banks who were leveraged 30 to 1. I say break up those bid banks now and end the ponzi bubble prone FED.The oil companies are only part of the issue.
1) Oil prices are set by OPEC - the Arab states and a few others. We have no control over them. Indeed, they control us since we are totally dependent upon their oil.
2) We are short on refineries in the USA so gasoline and diesel must take a secondary role to heating oil in winter. Why are we short on refineries. Oil companies keep asking to build them, but the American people say NO! (Not in my back yard).
Bottom line, we Americans chose to have limited refineries and to buy our oil overseas.
Choices have consequences. We're likely to have to pay what other countries do for their fuel - right now over $10 US Gallon (Eu 3+/ liter) in many parts of Europe.
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