But I love the way in the next paragraph he ascribes the recent run up to market forces: "Though van Eeden says that the doubling of oil in real terms since 2003 mostly reflects market factors, he ascribes oil's dizzying longer-term advance almost completely to the falling dollar and the increase in the money supply engineered by the Fed, to stimulate the economy"
My memory may be failing, but I do not remember a "dizzying" run up in oil prices, or falling dollar before 2003. The dollar has been slowly weakening ever since 2001, and not because the Fed was trying to stimulate the economy. By the way, why use M3? Why not M1 and M2? More importantly, is monetary supply really a proxy for inflation? I think not. Especially when used for one commodity. ________________________________________ From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Tony Cooper Sent: Friday, 30 May, 2008 03:40 To: [EMAIL PROTECTED] Cc: 'miatapower List'; 'Keith Tanner' Subject: Re: NPC: Geez, I just bought another car. Carfax anyone??? Interesting, My 2005 4.0 V6 Ranger 4x4 has been averaging 20 mpg and it just went up to 22 when I increased tire pressure to maximum (44 PSI), changed the air filter and try to keep rpms below 2500 rpms. 2003 3.5 V6 Maxima tops out at 32mpg highway and 26 city, 1993 1.6 Miata with SC and link averages 32mpg highway. Just saw this article on gas prices which makes the following observation: "By rapidly increasing the money supply and thereby decreasing the value of the dollar, the government is solely responsible for the increase in the oil price" Full text of article here: http://online.barrons.com/article/review.html Tony Chris wrote: Instead of a calculator, I have a spreadsheet. At the top I punch in constants like weekly miles driven by me and wifey, and gas cost per gallon. Then I have 3 cars, my 19mpg Ranger, her 28Mpg Miata, and the ~45Mpg Geo Metro that will prob cost me $600 all told when it's on the road (hopefully). I also have a column of round trip destinations, and 3 columns for the 3 cars. Orlando = $560 $370 $230 respectively Wifes Commute = $11.00 $7.50 $4.60 Almost the same for mine. By switching my truck for the Metro, I save $142/month. If I sell the truck for $1700, and spend $1100 on a Dodge Neon to do my towing, then the savings begin immediately, but only about $100/mo because of the insurance on 3 cars. That's still $1200 per year. It's not huge, but our budget is fairly tight so it all helps. -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Robert McElwee Sent: Thursday, May 29, 2008 1:01 PM To: Keith Tanner Cc: miatapower List Subject: Re: NPC: Geez, I just bought another car. Carfax anyone??? Because people are stupid and don't know how to use a calculator <G>. These idiots are pissing me off because they are keeping me from buying the car that I want (causing the prices to go sky high). On Thu, May 29, 2008 at 12:50 PM, Keith Tanner <[EMAIL PROTECTED]> wrote: I don't understand why people are paying premium prices in order to save a few miles per gallon. Keith Tanner Flyin' Miata _______________________________________________ Miatapower mailing list [email protected] http://list.miatapower.net/cgi-bin/mailman/listinfo/miatapower _______________________________________________ Miatapower mailing list [email protected] http://list.miatapower.net/cgi-bin/mailman/listinfo/miatapower _______________________________________________ Miatapower mailing list [email protected] http://list.miatapower.net/cgi-bin/mailman/listinfo/miatapower
