A dollar devaluation, even in the face of commodity market manipulation, would eventually lead to an oil spike. A trade war would exacerbate this scenario by reducing the steady flow of oil into the U.S. OPEC members are now calling for oil to rise to $100 a barrel to counter weakness in the dollar. This would bring us back to $3 to $3.50 a gallon gas, if crude values and supplies remain at that level....I suspect with added currency instability, $150 a barrel oil is conceivable within the next 6 months. Two years ago, high gas prices frustrated Americans, but were still bearable.
Today, after two years of static 20% real unemployment and trillions in lost savings, $150 oil would crush what's left of this economy. - Booohoo.
