5 Responses to “The Oil Price Lever”

1. Eli Rabett says:

   April 1, 2011 at 11:18 am

   Eli will take b.  Stimulus money saved the economy, which is, as they say, agreeing with economists.  Thank you very much.

2. kdk33 says:

   April 1, 2011 at 11:59 am

   Eli,

   Do you also belive in the easter… bunny.

3. Pascvaks says:

   April 1, 2011 at 12:10 pm

   Nope!  $55/barrel oil is gone forever!  What we’re speaking of is NOT the value of oil, but rather the value of the US Dollar.  In a very real sense, we’re paying the same for a $.02 first class stamp that our parents and grandparents did (or a barrel of oil).  BUT we’re paying for everything today with grossly inflated greenbacks.  Now, IF they started printing BlueBack Dollars (vice the increasingly worthless GreenBacks) and valued them at 100 times the value of today’s Dollar then maybe we might see $55/barrel oil for a few days one day in the not too distant future.  (that would make the NEW Penny worth one of today’s Dollars wouldn’t it?)

4. harrywr2 says:

   April 1, 2011 at 1:02 pm

   Up next, pigs flying

5. Marlowe Johnson says:

   April 1, 2011 at 5:00 pm

   this is stupid. oil prices are being driven far more than ever before by basic supply/demand dynamics and most of the demand is now coming from countries not called America.  Second, if you don’t believe that the stimulus helped avoid a much more severe recession then you should take it up with Krugman and the other Keynesians.
    
   while flynn makes the not-so-earth-shattering observation that a global recession would have depressed global oil prices it doesn’t follow that persistently higher oil prices moving forward can be blamed on stimulus actions in the u.s. as he implies.