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 Does Oil have to be $85 before we see RV?

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Rev Philip Hicks
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PostSubject: Does Oil have to be $85 before we see RV?   Sat Aug 20, 2011 1:35 am

Since Iraq's 2012 budget stipulates crude oil @ $85 per barrel, does anyone know FOR SURE that our Dinar will not RV until crude oil stabilizes at $85? (Since it has now dropped to less than $85) Thanks!
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1alaskan
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PostSubject: Re: Does Oil have to be $85 before we see RV?   Sat Aug 20, 2011 2:37 am

I don't think so, under that assumption when it was $85+ it should have revalued

JMHO
Rantings from just north of 58 this week
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therealbutterfly
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PostSubject: Re: Does Oil have to be $85 before we see RV?   Sat Aug 20, 2011 6:55 am

Why are we worried about NEXT years budget? That doesnt start til Jan anyway?
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lonestargreg
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PostSubject: Re: Does Oil have to be $85 before we see RV?   Sat Aug 20, 2011 7:34 am

A barrel of oil is traded on the commodity exchange the same way stocks are traded on the stock exchange. The price goes up and down continuously. There is no way to peg any event or budget to the price per barrel of oil. You can base your budget on a per barrel average in accordance with contracts for oil production but the actual price at the commodity exchange is irrelevant.
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