Gas prices hovering around $4/gal.
Oil prices hovering around $130/bbl.
The analyses I've seen all cite what seem like plausible macro-economic explanations: China & India are up-and-coming economic powerhouses, demanding more & more energy; U.S. drivers are addicted to gas-guzzlers.
What I've not seen is a simple graph. (I hope to learn a bit more HTML soon, and be able to display the graph!): the increase in oil prices began on 20 Mar 2003 - when we invaded Iraq.
The graph I have in mind is yet more telling: the divergence between price of oil in USD and Euros also began on 20 Mar 2003 - the day we invaded Iraq.
Europeans have been paying relatively less than us since then - USD/Euro exchange rate started going downhill on 20 Mar 2003.
The elephant in the room? Our occupation of Iraq.
Thanks again, W.
Stop the madness!
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