Daily Kos :: Comments Goldman Sachs Expects Oil Prices To Hit $200

so, there is a big $ devaluation in the works (1+ / 0-)

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Lujane

or Euro climb in the works? I wonder how much the $ would have to fall to see that figure?

Listen to Noam Chomsky's Necessary Illusions. (mp3!)

by borkitekt on Wed May 07, 2008 at 07:47:40 AM PDT

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- OPEC has give a rough formula... (2+ / 0-)
  
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  borkitekt, Lujane
  
  in the article I cited, roughly a $4 increase per barrel for each 1% reduction in the value of the dollar. Currently, oil is priced near $120 per barrel, so divide $80 difference by $4 per percentage value lost and you would need a further 20% reduction in the value of the dollar to get $200 per barrel.
  
  John McCain likes Lobbyists
  
  by Enterik on Wed May 07, 2008 at 08:37:00 AM PDT
  
  [ Parent ]
  - thanks, (0+ / 0-)
    
    I'd seen the figure a week before but forgot where.
    
    Listen to Noam Chomsky's Necessary Illusions. (mp3!)
    
    by borkitekt on Wed May 07, 2008 at 09:07:48 AM PDT
    
    [ Parent ]

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