Friday, August 15, 2008
Dollars and oil: Still headed in the American direction
United States dollars are again more valuable and oil is again less expensive. All good, heading into my summer vacation.
The dollar rallied and oil continued to fall today, the former closing under Euro $1.47 and the latter getting as low as $111. Goldman, Sachs is not wrong yet -- they left themselves two years for oil to get to $200 -- but they are not looking as smart as usual, or as smart as Gary Becker.
1 Comments:
By 
, at
Sat Aug 16, 12:03:00 AM:
As a note, I would expect a continued drop in the price of oil, probably below the $105 mark; check out the two-month chart in natural gas prices to see what I am thinking of, and keep in mind the pricing into oil cost of alternatives pricing.
