According to Yahoo: Oil at $126 an ounce!

[Bungo Pony]

Check it out while it's still up!

http://ca.finance.yahoo.com/

[PartisanEntity]

The weak dollar is causing this, the weaker the dollar, the less profit is made through the sale of oil, and so more must be charged. Age old rules of the market. No end in sight at the moment.

[aaaantoine]

The weak dollar is causing this, the weaker the dollar, the less profit is made through the sale of oil, and so more must be charged. Age old rules of the market. No end in sight at the moment.

...And the more they charge for oil, the more EVERYTHING costs (since transportation factors into virtually every facet of commerce). The more everything costs, the weaker the dollar.

Thus, we have an endless downward spiral into economic hell, because our government and infrastructure are ruled by the oil industry.

[mips]

The weak dollar is causing this, the weaker the dollar, the less profit is made through the sale of oil, and so more must be charged. Age old rules of the market. No end in sight at the moment.


...And the more they charge for oil, the more EVERYTHING costs (since transportation factors into virtually every facet of commerce). The more everything costs, the weaker the dollar.

Thus, we have an endless downward spiral into economic hell, because our government and infrastructure are ruled by the oil industry.

I think you uys missed the puncline, "Oil at $126 an ounce!"

Oil is price in barrels and not ounces. If it was priced in ounces I would drive my car into the sea right now.

[aaaantoine]

I think you uys missed the puncline, "Oil at $126 an ounce!"

Oil is price in barrels and not ounces. If it was priced in ounces I would drive my car into the sea right now.

I caught it, but got distracted by PE.

[popch]

I think you uys missed the puncline, "Oil at $126 an ounce!"

Oil is price in barrels and not ounces. If it was priced in ounces I would drive my car into the sea right now.

If it was, you couldn't afford to do that.

BTW, how many ounces are there to a barrel?

[LaRoza]

BTW, how many ounces are there to a barrel?

5376

(Ounce is 1/128 US gallon, barrel is 42 gallons.)

[PartisanEntity]

What country would the barrel be from? Apparently a barrel is measured differently in some parts of the world. Can't remember where I read that thoug, and don't have the time right now to look it up.

[popch]

5376

(Ounce is 1/128 US gallon, barrel is 42 gallons.)

Thank you. So the price per barrel would be 677376 (USD). That's rather steep. At that price, I could open a shop which pulls carts by human power.

[LaRoza]

What country would the barrel be from? Apparently a barrel is measured differently in some parts of the world. Can't remember where I read that thoug, and don't have the time right now to look it up.

I am using the the oil standard. The "barrel" has different meanings on context and location, but for oil:

Oil barrel: 42 US gallons, 158.9873 litres,[1] or 34.9723 Imperial (UK) gallons.

Others:

UK beer barrel: 36 UK gallons (163.7 litres).
US beer barrel: 31 US gallons (117.3 litres), the result of tax law definitions.
US non-beer liquid barrel: 31½ US gallons (119.2 litres), or half a hogshead.
US dry barrel: 105 dry quarts (115.6 litres).
Somali water barrel: 200 litres - used in Horn of Africa to measure water and diesel.

[dca]

Damn, that means it'd cost $4,823,173.42 USD to fill up the tank in my Ford pick-up...

[mips]

Damn, that means it'd cost $4,823,173.42 USD to fill up the tank in my Ford pick-up...

Nah, it would be more. Still have to take into account transport, refining & processing + profit & government taxes ;)