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AGI reports on the price of oil and the US dollar
April 16, 2008The American Geological Institute Workforce Program has released its latest data report, this time looking at the price of crude oil and the exchange rate of the U.S. dollar.
Oil is a global commodity traded in US dollars. As the dollar loses value, the price of oil rises relative to other currencies and value metrics. As this "Geoscience Currents" shows, a significant proportion of the rise in global oil prices is tied to the drop in the US dollar. To highlight the relationship between commodity pricing and currency, the latest "Currents" graphed oil costs in both dollars and euros and also compared it to the pricing of another commodity, gold.
To view this graph and for more details on the latest report, please visit http://www.agiweb.org/workforce/
American Geological Institute
American Geological Institute
Crude Oil News and Current Crude Oil Events RSSOU Researchers Isolate Microorganisms That Convert Hydrocarbons to Natural Gas
When a group of University of Oklahoma researchers began studying the environmental fate of spilt petroleum, a problem that has plagued the energy industry for decades, they did not expect to eventually isolate a community of microorganisms capable of converting hydrocarbons into natural gas.
Limits on futures trading could boost gas prices, expert says
Proposals to reign in wallet-draining gasoline prices by curbing speculation in oil markets would likely increase costs at the pump instead of trimming them, a University of Illinois economist says.
Major progress in technology needed for 25 percent renewable energy use to be affordable
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65-million-year-old asteroid impact triggered a global hail of carbon beads
The asteroid presumed to have wiped out the dinosaurs struck the Earth with such force that carbon deep in the Earth's crust liquefied, rocketed skyward, and formed tiny airborne beads that blanketed the planet.
Money Doesn't Grow on Trees, But Gasoline Might
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LSU and Ohio State Battle on Football Field, Collaborate in Research Field
LSU and Ohio State University will battle for the BCS National College Football Championship in the Superdome early next week, but if the game was held in the Louisiana wetlands instead, the entire field would disappear before halftime.
Making gas out of crude oil
An international team that includes University of Calgary scientists has shown how crude oil in oil deposits around the world - including in Alberta's oil sands - are naturally broken down by microbes in the reservoir.
UC experts detail new standard for cleaner transportation fuels
University of California experts today released their much-anticipated blueprint for fighting global warming by reducing the amount of carbon emitted when transportation fuels are used in California.
Despite popular belief, the world is not running out of oil, UW scientist says
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