- The Washington Times - Monday, June 9, 2008


In “For a strong dollar” (Commentary, Thursday) Lawrence Kudlow addresses the benefits of a strong dollar. One example Mr. Kudlow does not explicitly address is how the dollar’s international value impacts the cost of crude oil to the United States. For example, in April 2002, the euro was worth 90 cents. Today, the euro costs us $1.58. In 2002, if the cost of oil was $138 a barrel, it would cost euro users 153 euros. Today, with the greater value of the euro, $138-a-barrel oil costs 87 euros. In 2002, our dollar was stronger than the euro; today it is worth just 63 percent of the euro.

This is a problem we mere citizens can recognize easily. But only the Feds can fix it.



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