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S&P 500
5,431.60
(
-0.04%
)
US TECH 100
19,166.40
(
0.51%
)
Dow Jones
38,589.16
(
-0.15%
)
Brent Oil
82.28
(
0.00%
)
Bitcoin
66,145.46
(
0.21%
)
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VINOBBBY

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VINOBBBY

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Re: db7 post# 18050

Monday, 09/22/2008 8:09:27 PM

Monday, September 22, 2008 8:09:27 PM

Post# of 19490
I saw that article earlier, and that guy is full of crap. There isn't an economy in the world that can support 500$ oil. They can't even support 150$ oil, that's why it fell so fast from 147$. Demand dropped 10% within a week. The main reason oil is so high is the ever dwindling value of the dollar. For exmple, if the dollar had the same value as it did in 2000, oil would be 55$ right now.
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