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Financial Times report on oil prices echoes what GATA long has been saying

Section: Daily Dispatches

11:32a ET Friday, August 20, 2004

Dear Friend of GATA and Gold:

Like anything else, oil has its supply and demand
struggle, but the price of oil, seemingly so
turbulent lately, looks almost calm when calculated
not in dollars but in gold, according to the latest
analysis by GATA consultant James Turk, founder
of GoldMoney and editor of the Freemarket Gold
& Money Report.

Turk proves his point with charts and concludes:
"The reality for crude oil is the inevitability of
higher dollar prices. But don't blame OPEC or
the other oil producers. The end of cheap
hydrocarbons is the result of the dollar becoming
worth less and less."

Of course this is a story you won't read in
the mainstream financial press -- because it's
the real story.

You can find Turk's commentary, "The End
of Cheap Hydrocarbons," in the "Founder's
Commentary" box at the top left of the
GoldMoney home page here:

http://goldmoney.com

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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