Here’s something for those who continue to blame the weak dollar as the reason for the high price of oil:
International Herald Tribune: Sarkozy proposes EU cut in fuel tax
For more than two weeks, angry fishermen have blocked ports across France to protest rising fuel prices. The protest was set to spread to Portugal, Spain and Italy, after European fishermen decided at the International Fishing Fair in Ancona, Italy, to go on strike indefinitely starting Friday.
Truckers in Britain joined the show of discontent Tuesday. About 300 honked their horns and parked on a highway on the edge of London, jamming a major route into the capital and forcing police to divert motorists.
We haven’t seen these kinds of protests in the United States, yet. Back in 2000, a weeklong protest over prices nearly shut Great Britain down. By the end of the week, food rationing had returned to Britain as panic buying hit supermarkets.
The problem is that the headline has no support in the post. Feisty fishermen does not prove that there exists no relationship between the value of the dollar and the price of a barrel of oil.
Sorry I didn’t make that clearer. Feisty French fishermen are protesting the price of fuel. Presumably, they don’t use dollars.