"a trillion barrels of oil...", page-5

  1. 2,834 Posts.
    re: oils aint oils Depends if you hold the AUD and the tax rates constant.

    Part of what is happening is the decline of the USD, which is sending the nominal price of USD-denomiated assets (ie gold, oil) higher, while if you take their price in Euros, then they havent moved so much.

    Basically, in Euroland and Australia, the pump price is dominated by taxes. In America and the Third World, it's dominated by the market price.

    Dont forget a bunch of chemical processes use cruse as a feedstock.

    Ian Whitchurch
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