From Against Crony Capitalism
"In the attached article Louis Woodhill at Forbes.com explains why it is not that gas prices are rising. It is that the dollar is falling. Priced in gold gas is historically underpriced and so may have much further to go.
What few people know is that oil is priced in US dollars, and the for the most part, only in US dollars. As such, as the dollar goes down the price of oil goes up. So, as the Fed continues to pour dollars into the world economic system one very important result is that the “price” of oil goes up.
For those who want to really delve into this phenomenon, and trust me it is a rabbit hole, start by learning about the petrodollar."
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