~~Rants del Nicoleta~~

Due to the (in my opinion, dumb) move the Federal Reserve made, oil went up by almost $5 yesterday.  Prices here have just went under $2/gallon here.  It’s $1.96 at Wal-Mart to $2.01 at Shell.  It was following the 30/40 rule quite well until now.  When it was hovering around $60, it was $2, reflecting the 30 part of the rule.  While it is still following it to a degree, if one uses the national average (Hovering around $2.55), it’s still gouging, though not as much as usual.  Thankfully no one listened to OPEC cutting supplies.

At $70/barrel:

30- $2.33

35- $2.00

40- $1.75

Hopefully, this rate cut won’t have too much of an impact on the dollar.  Cheaper oil will help and keeping it low will help immensely with consumers buying again.  But it all ties back to speculators and the dollar.  Keeping those two under control will help keep oil down.

http://www.msnbc.msn.com/id/12400801/