I am not sure OPEC has that kind of pricing power, and I’m not sure why you didn’t show beyond 2003.
To me it proves the dollar has fallen vs oil and the Euro, whereas, at least until 2003, the Euro was holding its own and preserving it’s value.
What I found interesting about the G-20 was that Obama ran for President criticizing President Bush and alienating our allies and he went to the G 20 summit alienated our allies and defended going it alone on economic policy!!!
Eventually this could harm our national defense and invite aggression.
Translation: Bad world economy via U.S. = WW3
What it shows is, OPEC prices in Euros, which OPEC is perfectly powerful enough to do; the article came from 2004, so there’s no data after 2003.
The USD has fluctuated against the Euro (nothin’ new about that); the Euro’s sudden fall during the various deficit and banking system crises over a year ago was good for oil prices in the US, but now those have crept back toward triple digits. Which reminds me, I’ve gotta gas up today.
Zero wasn’t a convincing candidate, not credible in any way; just goes to show how blind and ignorant leftist (and for that matter, “rightist”) hatred was toward GWB and toward Pubbies in general.
The only risk of WW3 imv is a precipitous rise in oil prices; that is only likely to happen due to a real or perceived lack of supply, even if it’s only short term. China doesn’t have the capability to meaningfully intervene in the Middle East if (well, when) Iran starts the next war, but Iran has some sort of alliance or near-alliance with Iran, part of the competition between Russia and China as they vie for influence.
It is in Iran’s interest to delay its beginning until it has accumulated as many advantages as it can, and while it obtains as many of the fruits of war (without actually fighting it) as it can. Zero’s concentration on Yemen’s new civil war is due to the growing threat of an out-of-control wild every-man-for-himself shootout in the Kingdom.
Iranian missiles also shadow the shipping route through the Red Sea, and those will have to be removed — and they should have been removed, with or without warning, as soon as they’d arrived.