Why Rising Oil Prices? Look at the Weak Dollar Too

While much of the conversation in Washington is (rightly) focused on energy policies and what can be done to increase supply in the wake of fast-growing global demand for oil, there is another reason for rising oil prices. It is the flight from the dollar to hard assets (look at the performance of gold lately). In a piece originally published in Global Asia, Cato Institute senior fellow Steve Hanke explains the factors at work.

This entry was posted on Friday, June 27th, 2008 at 7:56 AM. It is filed under U.S. & Canada and tagged with Cato Institute, energy, monetary policy. You can follow any responses to this entry through the RSS 2.0 feed.