Oil Crisis: Blame It on the Fed?

the federal reserve is totally unnecessary.

There is only 1 Paul Van Eeden and nobody understands the current environment and the money supply like he does!

oil crisis and all wars can be stopped just by introducing pneumatic cars.
They cut cost of commuting by 90% and make oil cunsumption 7 times less.
Oil becomes additional source of energy and
all dictators become bancrupt.

google: we got nuked on 9/11

CNBC IS ANIMAL HOUSE.

$125 a barrel and expected to go down a little more. Just by the talk of using other sources and drilling more in the U.S.

Can you link to a strong essay explaining more clearly how this causes inflation? The USD is not literally backed by oil, though I can see how international markets will consider dollars devalued as oil prices rise. IMO, it seems that even if petrodollars are deposited back into US banks to fund more loans (to a point), any increases in oil revenue (and bank deposits) will be offset by expenses people had to cut to pay for oil (as companies selling other products will make smaller deposits).