Bailing Into Commodities: How the Wall Street Bailout Raises Energy Prices
September 22, 2008
Investors around the world are selling the U.S. dollar because of the massive Wall Street rescue plans, which thus far total a whopping $1.8 trillion. Oil is traded on a world market, with potential buyers and sellers having access to many currencies. A falling dollar translates into more expensive oil and higher prices at the [...]