Originally Posted by Ken300D

Just went up to $3.05 at my favorite station.

That used to be the break-even point for using soy oil from BJ's 4.5 gallon cubes. So I checked on the price of soy today. That has jumped up too. It is running about $4.20 a gallon now. So much for switching over to that. I still have some cubes stashed away that I bought in Katrina times though.

If you look at the history of this thread, you'll see a big difference in price from start to end. It took a long, long time for crude to pass $50 a barrel. Much quicker to overtake $100 a barrel. Something else is going on besides simple supply and demand. I think it has to do with dollar devaluation. This is reflected in the exchange rates (try to buy a Euro with a Dollar) and the price of "real" value items like precious metals.

I'm starting to realize that the dollar disaster will snowball much faster and more seriously when oil changes over to a Euro standard. A lot of money is made exchanging other currencies to Dollars in order to buy oil. That process makes the US (in general) money. That process will sharply reverse if we have to exchange Dollars for Euros in order to buy our oil. Then we pay a premium to exchange currency, and no one else needs Dollars either.

The Euro has gone from near $0.80 to near $1.50 to purchase. Oil has gone from $50 to $100 a barrel. Europeans are paying the same for their oil. We're paying double.

This is not happening randomly. It is policy.

Ken300D