Monday, June 16, 2008
The Price of Oil and Grain
So today the price of crude oil is about $140 per barrel. I got an email from my dad that seems to make sense. OPEC sells oil for $140 per barrel to the U.S. OPEC nations buy U.S. grain for $7.00 per bushel. Solution, sell them our grain for $140 per bushel. Just make grain and other items we export to them the same price as oil, problem solved :)
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