Don, while I agree that this is a sure sign to get the homestead in order,
the two have something to do with one another. In the past the Saudis have
matched US interest rates to keep the petro in the petro-dollar. This time they
didn't, would have been fools to do so. So some of the increase in oil prices
is actually a decrease in the value of the dollar. Not that that does us any
good.
IF they could. However if OPEC is at near peak capacity now, as some
suggest, they can't significanly increase production and therefore have no power to
restrain anything. Not only that, OPEC knows full well that all the alternate
energy in the world doesn't add up to a tiny fraction of the oil used each day.
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