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Could declining 'Petro-dollar' induce Middle East conflict?

GasBuddy Blog -- The value of the dollar is slipping, slipping, slipping… so consistently that its pervasive influence impacts American consumers daily both on the price of gasoline and just about any consumer goods we buy. Have you bought Girl Scout cookies lately? A box of their wonderful thin mint cookies has shrunk from three sleeves of cookies to two. The box weighs 9 ounces.

Jeff Cox, a senior writer with CNBC, reported earlier this month that the U.S dollar is shrinking as a percentage of the world's currency supply, raising concerns that the greenback is about to see its long run as the world's premier denomination come to an end. When compared to other global currencies, the dollar has drifted to a 15-year low, according to the International...

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Submitted Mar 08, 2013 By: PD

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honda0105 Champion Author Tallahassee Posts:18,623 Points:1,609,520 Joined:Nov 2008	Message Posted: Mar 12, 2013 3:58:13 AM Ignore honda0105 Report Abuse time to get our economy on its feet again.
honda0105 Champion Author Tallahassee Posts:18,623 Points:1,609,520 Joined:Nov 2008	Message Posted: Mar 11, 2013 3:59:12 AM Ignore honda0105 Report Abuse snapper: some of us do. Along w/ regulations being put back into place for specutraitors.
snapper06 Veteran Author Toledo Posts:449 Points:53,590 Joined:Oct 2008	Message Posted: Mar 10, 2013 7:10:57 PM Ignore snapper06 Report Abuse So blame Government. No one thinks Big Oil has as much responsibility to help fix mess they help create.
honda0105 Champion Author Tallahassee Posts:18,623 Points:1,609,520 Joined:Nov 2008	Message Posted: Mar 10, 2013 6:30:04 AM Ignore honda0105 Report Abuse Though there is no GOOD reason why pump prices hover near $4 when the barrel of crude is well below $100. That's where pump prices were in August 2008 when crude hit nearly $150 / barrel.
honda0105 Champion Author Tallahassee Posts:18,623 Points:1,609,520 Joined:Nov 2008	Message Posted: Mar 10, 2013 6:29:50 AM Ignore honda0105 Report Abuse at least the GS cookies are still the same price. I guess you can't shrink a gallon so the price must go up.
Vanho Veteran Author Fort Worth Posts:427 Points:585,715 Joined:Aug 2007	Message Posted: Mar 9, 2013 7:33:15 AM Ignore Vanho Report Abuse Thanks Wash DC!
csnvcas All-Star Author Illinois Posts:702 Points:167,915 Joined:Nov 2012	Message Posted: Mar 9, 2013 5:53:03 AM Ignore csnvcas Report Abuse Ok
otherdave Champion Author Indiana Posts:3,393 Points:1,269,160 Joined:Oct 2008	Message Posted: Mar 9, 2013 5:07:38 AM Ignore otherdave Report Abuse ok
DutchTreatMI Champion Author Grand Rapids Posts:3,310 Points:751,690 Joined:Mar 2011	Message Posted: Mar 9, 2013 3:04:14 AM Ignore DutchTreatMI Report Abuse the average consumers are having trouble paying for the important things in life bills, gas and put food on the table.
jacob5066 Champion Author College Station Posts:1,843 Points:430,590 Joined:Feb 2012	Message Posted: Mar 9, 2013 3:00:49 AM Ignore jacob5066 Report Abuse Old news
fratt Champion Author Grand Rapids Posts:9,825 Points:2,644,930 Joined:Jul 2005	Message Posted: Mar 9, 2013 2:55:44 AM Ignore fratt Report Abuse Old news.
Pozole Champion Author Portland Posts:9,597 Points:1,594,520 Joined:Mar 2005	Message Posted: Mar 9, 2013 2:55:44 AM Ignore Pozole Report Abuse ...moldy "news"...
MazdaRX8Fan Rookie Author Indiana Posts:20 Points:18,525 Joined:Feb 2013	Message Posted: Mar 9, 2013 2:50:21 AM Ignore MazdaRX8Fan Report Abuse People think we should "Buy American"? Well, this is the way to make it happen. By devaluing the dollar it makes foreign goods more expensive to the point that you can't afford that new 60" Japanese made TV. You'll just have to buy the American made 29" one... if they existed... that also went up in price because they use Japanese parts. Oil is headed up. Automobiles are headed up. Anything that uses foreign parts or foreign commodities (oil for instance) is headed up. That includes food costs. Tractors use diesel and foreign parts, semis use diesel and foreign parts... There is no good in this.
metrojeep Champion Author Fort Worth Posts:2,256 Points:435,620 Joined:Feb 2012	Message Posted: Mar 9, 2013 2:50:08 AM Ignore metrojeep Report Abuse Old News
mikesr100 Champion Author Sacramento Posts:3,893 Points:1,080,735 Joined:Apr 2008	Message Posted: Mar 9, 2013 2:49:55 AM Ignore mikesr100 Report Abuse yea obummerhas trippled the deficit!
Beboper Champion Author Virginia Posts:8,727 Points:2,163,790 Joined:Oct 2005	Message Posted: Mar 9, 2013 2:48:34 AM Ignore Beboper Report Abuse old news
DrivingFool2 Champion Author Appleton Posts:8,587 Points:1,605,115 Joined:Apr 2005	Message Posted: Mar 9, 2013 2:48:07 AM Ignore DrivingFool2 Report Abuse And the rich get richer and the poor, and middle class, get poorer
snky2k Champion Author Indianapolis Posts:1,398 Points:303,565 Joined:Mar 2012	Message Posted: Mar 9, 2013 2:42:22 AM Ignore snky2k Report Abuse HA4CNN is right. And I'm impressed with his/her Canadian insight into American finance. The "Federal" Reserve is being exposed - slowly but surely.
wkb03 Champion Author Georgia Posts:1,960 Points:593,050 Joined:Aug 2011	Message Posted: Mar 9, 2013 2:38:51 AM Ignore wkb03 Report Abuse Old news
twobroke61 Champion Author Michigan Posts:8,380 Points:1,588,960 Joined:Sep 2008	Message Posted: Mar 9, 2013 2:37:29 AM Ignore twobroke61 Report Abuse the Government needs to learn to to spend within there means
Z06KY Champion Author Louisville Posts:5,145 Points:905,715 Joined:Nov 2010	Message Posted: Mar 9, 2013 2:34:26 AM Ignore Z06KY Report Abuse I agree thanks Obummer!
jcurley Champion Author California Posts:7,900 Points:1,775,185 Joined:Dec 2007	Message Posted: Mar 9, 2013 2:25:50 AM Ignore jcurley Report Abuse SteveMartin is correct. Thank you liberals for saving this country from the anarchist tea party members and Mitt. Otherwise, the GOP would have destroyed Social Security, Medicare, Medicaid, etc., and we would have a 1.5 trillion dollar military budget, because we would have invaded Iran and North Korea by now. And who'd have thought that the Dow would hit new record highs with a COMMUNIST in the white house?!?!?!
BigDogOH Champion Author Cincinnati Posts:8,503 Points:1,807,820 Joined:Mar 2008	Message Posted: Mar 9, 2013 2:22:11 AM Ignore BigDogOH Report Abuse Thanks obummer
getchaz All-Star Author Tucson Posts:513 Points:187,040 Joined:Sep 2005	Message Posted: Mar 9, 2013 2:20:13 AM Ignore getchaz Report Abuse interesting
findcheap Champion Author Los Angeles Posts:9,597 Points:2,009,875 Joined:Apr 2007	Message Posted: Mar 9, 2013 2:19:41 AM Ignore findcheap Report Abuse it always has
goldseeker Champion Author West Virginia Posts:19,545 Points:2,718,815 Joined:Sep 2005	Message Posted: Mar 9, 2013 2:17:27 AM Ignore goldseeker Report Abuse maybe
SteveMartin Champion Author New Orleans Posts:4,428 Points:885,415 Joined:May 2008	Message Posted: Mar 9, 2013 2:17:16 AM Ignore SteveMartin Report Abuse Thank the liberals & the communist in the white house.
jcurley Champion Author California Posts:7,900 Points:1,775,185 Joined:Dec 2007	Message Posted: Mar 9, 2013 2:17:14 AM Ignore jcurley Report Abuse You think there's too much US debt? Then stop voting GOP. Every GOP President since Reagan, including Reagan ran up the national debt by a few trillion. You know, the old NeoCon plan to put us so far into debt that we have to destroy our safety net programs (but keep our trillion dollar military budget!!). Contrary to Fox Lies TV, Obama has cut spending more than most presidents in recent times. And since we're still in the great Bush recession - we need government stimulus (on worthwhile projects like infrastructure). When the jobs come back and the economy rebounds, that will erase the budget deficit, assuming that we can close a few of the loopholes for the Mitt Romney's of the country.
hawkman74 All-Star Author Dallas Posts:703 Points:449,920 Joined:Sep 2011	Message Posted: Mar 9, 2013 2:11:26 AM Ignore hawkman74 Report Abuse This will make it harder for the US gov. to borrow.
Matt G Champion Author Boston Posts:4,533 Points:2,773,040 Joined:Jun 2004	Message Posted: Mar 9, 2013 2:11:12 AM Ignore Matt G Report Abuse agree
hybridaholic Champion Author Appleton Posts:8,365 Points:1,556,565 Joined:Dec 2008	Message Posted: Mar 9, 2013 2:11:02 AM Ignore hybridaholic Report Abuse You've got that right ROSYLI
hawkman74 All-Star Author Dallas Posts:703 Points:449,920 Joined:Sep 2011	Message Posted: Mar 9, 2013 2:10:22 AM Ignore hawkman74 Report Abuse Deficit spending has its consequences.
hawkman74 All-Star Author Dallas Posts:703 Points:449,920 Joined:Sep 2011	Message Posted: Mar 9, 2013 2:09:24 AM Ignore hawkman74 Report Abuse Perhaps
ldiggy All-Star Author Wilmington Posts:773 Points:288,660 Joined:Apr 2012	Message Posted: Mar 9, 2013 2:05:30 AM Ignore ldiggy Report Abuse Only time will tell.
HA4CNN Champion Author Toronto Posts:5,624 Points:1,543,390 Joined:Dec 2006	Message Posted: Mar 9, 2013 2:04:15 AM Ignore HA4CNN Report Abuse The United States dollar is on thin ice and could cease to be the reserve currency of the world.
abk Champion Author Utah Posts:1,800 Points:656,200 Joined:Jan 2010	Message Posted: Mar 9, 2013 2:02:58 AM Ignore abk Report Abuse Well getting out of so much debt would be a start to fixing the problem.
UBDave Champion Author British Columbia Posts:1,205 Points:1,373,750 Joined:Oct 2008	Message Posted: Mar 9, 2013 1:57:35 AM Ignore UBDave Report Abuse Time will tell for sure...
rosyLI Champion Author Long Island Posts:5,635 Points:1,068,605 Joined:Apr 2010	Message Posted: Mar 9, 2013 1:49:11 AM Ignore rosyLI Report Abuse A sunny day could induce conflict in the unstable Middle East.
Z51Corvette Champion Author Austin Posts:8,485 Points:1,671,170 Joined:Jan 2008	Message Posted: Mar 9, 2013 1:45:26 AM Ignore Z51Corvette Report Abuse All a price of inflation!
afghaned Champion Author Hamilton Posts:11,814 Points:1,285,685 Joined:May 2004	Message Posted: Mar 9, 2013 1:43:47 AM Ignore afghaned Report Abuse Governments need to live within their means just as hiuseholds do.
Retowered Champion Author Colorado Posts:8,577 Points:2,685,415 Joined:May 2004	Message Posted: Mar 9, 2013 1:43:33 AM Ignore Retowered Report Abuse Time will tell.
SHEP20715 Champion Author Maryland Posts:8,468 Points:1,714,845 Joined:Nov 2007	Message Posted: Mar 9, 2013 1:43:01 AM Ignore SHEP20715 Report Abuse In this economic atmosphere, the currencies of all countries have been devalued
tomok Champion Author Portland Posts:33,014 Points:2,345,510 Joined:Aug 2006	Message Posted: Mar 9, 2013 1:42:33 AM Ignore tomok Report Abuse Could declining 'Petro-dollar' induce Middle East conflict? If Sneeky keeps spending money like there is no tomorrow, the dollar as a world petro-dollar will suffer more and more. Get someone in there that knows what they are doing and keep this country from sliding even farther into that ever widening 'hole.' The Middle East conflict will never end, they will battle and argue with each other for many years, decades to come. That's the way things are done over there! 'Coming out of the closet' Sneeky's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Sneeky's socialist economy is Not improving but continues to hurt the population and the job numbers continue to be down! Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high!
Rainy1 All-Star Author San Diego Posts:562 Points:59,010 Joined:Apr 2012	Message Posted: Mar 9, 2013 1:40:54 AM Ignore Rainy1 Report Abuse I agree with everything snky2k says!
oweno1 All-Star Author San Diego Posts:568 Points:113,365 Joined:Nov 2012	Message Posted: Mar 9, 2013 1:40:39 AM Ignore oweno1 Report Abuse the middle east is always in conflict already
UseLessGasFolks Champion Author Iowa Posts:5,446 Points:1,295,850 Joined:Jul 2007	Message Posted: Mar 9, 2013 1:40:09 AM Ignore UseLessGasFolks Report Abuse Hey don't you look at my camel like that!
vulcan96 Champion Author Ohio Posts:26,916 Points:3,103,675 Joined:Aug 2004	Message Posted: Mar 9, 2013 1:39:53 AM Ignore vulcan96 Report Abuse sad times for sure
CountryPeddler Sophomore Author Tennessee Posts:162 Points:90,855 Joined:Dec 2007	Message Posted: Mar 9, 2013 1:39:00 AM Ignore CountryPeddler Report Abuse No surprise here!
Settjec Champion Author Little Rock Posts:1,979 Points:687,745 Joined:May 2010	Message Posted: Mar 9, 2013 1:36:15 AM Ignore Settjec Report Abuse The middle East is always in need of a reason to fight
Brucevanf Champion Author New Brunswick Posts:1,356 Points:244,285 Joined:Aug 2012	Message Posted: Mar 9, 2013 1:35:33 AM Ignore Brucevanf Report Abuse The middle East is in turmoil by it's own nature.