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tom Andersen » Comments » USO
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Oil: A Slippery Slope Ahead? [View article]
Oil sands really cost 30 - 40 per barrel. CANADIAN. Also Oil as, measured in non us currencies never went as high, or has tumbled as low as it looks to you americans. EG: Oil at $140 US was almost perfectly correlated with the 1.1 0 Candian dollar, so it was $126 CDN. Now at $50 US it is $67 CDN. The price of oil was also a story about the ride the US $ is on.