Great post gramps.
You have squarely hit the nail on the head several times in this thread.
The devaluation of the dollar (Thanks Ben) and speculation is the primary driver for oil rising in cost.
Supply and demand has nothing to do with cost.
Are cotton, wheat, corn etc. production down? No. The cost to fertilize and harvest the crops (need oil) and the subsidies for ethanol have driven food prices up.
You have squarely hit the nail on the head several times in this thread.
The devaluation of the dollar (Thanks Ben) and speculation is the primary driver for oil rising in cost.
Supply and demand has nothing to do with cost.
Are cotton, wheat, corn etc. production down? No. The cost to fertilize and harvest the crops (need oil) and the subsidies for ethanol have driven food prices up.