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The Real Price of Oil

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September 09 2008 | 32,887 views

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The price of oil is up, and everyone is worried about the potential economic consequences. But what if the price of oil wasn’t really up? What if it were just an illusion?

The American Geological Institute (AGI) recently released a report looking at the price of crude oil in relation to the U.S. dollar and the price per ounce of gold. They found that the price of oil has been going up in relation to currency only. This means that the value of oil has not been increasing in real terms; instead, currency has just been decreasing in value.

In other words, if U.S. currency were still based on gold, as it was until 1971, then the price of oil would be stable.

Oil Chart

So if you are an American, the price of gas hasn’t really gone up, it is just that the value of the dollar has significantly plummeted.

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Disclaimer: The entire contents of this website are based upon the opinions of Dr. Mercola, unless otherwise noted. Individual articles are based upon the opinions of the respective author, who retains copyright as marked. The information on this website is not intended to replace a one-on-one relationship with a qualified health care professional and is not intended as medical advice. It is intended as a sharing of knowledge and information from the research and experience of Dr. Mercola and his community. Dr. Mercola encourages you to make your own health care decisions based upon your research and in partnership with a qualified health care professional.

†The World's #1 Natural Health Website claim is based upon Alexa Natural Health Website rankings.

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