What's Driving Oil and Gasoline Prices in the US? - OIL - eWallstreeter. How Oil Prices Affect the Economy: Calling for a Third Industrial Revolution. Understanding the Correlation between Oil Prices and the Falling Dollar. Interviewee: Brad W. Setser, Fellow for Geoeconomics, Council on Foreign RelationsInterviewer: Lee Hudson Teslik, Associate Editor, CFR.org June 18, 2008 Two of the defining geoeconomic trends of the past two years have been surging oil prices and a falling U.S. dollar. Of late, these trends show an increasingly tight correlation—with the falling dollar mirroring the rising price of oil. Brad W. In terms of oil prices directly affecting the valuation of the dollar, he notes: In terms of the dollar's fall affecting oil prices, he notes: Setser concludes that correlation between oil prices and the dollar won't stay as tight as it is now, but that some mirror-effect will continue, given the slew of geoeconomic factors working in favor of correlation.
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OGEL 3 (2012),in OGEL Ten Years Special Issue: Internationalisation of Energy Law Alhajji, Anas F. Introduction The objective of this article is to explain the spectacular rise in oil prices in recent years and state the factors that would prevent oil prices from declining in the coming years. Despite the divergence of views about the reasons for the increase in oil prices, a few facts stand out: 1) The oil market is not competitive; 2) Only market fundamentals, which, in this article, include oligopoly and monopsony powers, affect oil prices in the long run; 3) Political events, expectations, and physical storage of oil are part of market fundamentals.
Suggested Citation Anas F. URL: www.ogel.org/article.asp? Biography: Philip K. Verleger. The International Economy-Fall 2007. Publications: P K Verlegerger.