Nymex Crude Future 61.14 -1.45
Its down today but its had a very good rally over the last few months, actually ever since Obama and the Demoncats took over and recinded the off-shore drilling ban, oil has taken a climb. T. Boone Pickens is saying its going to hit triple digit soon. The funny thing is I follow oil and the markets everyday, when the stock market is up the dollars value goes up, oil falls.
The last month or so since the makets have been rising, the dollar is dropping and oil is climbing.
Its the dollar stupid, with all this debt and I read today the UK is 100 % in debt to their GDP it sinks the currencies and drives up oil. It can keep climbing, nothing is holding it back now--its not demand.
If you compare the value of gold to oil, oil hasn't risen a cent, the dollar has lost value.
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