LONDON (Reuters) - A weaker dollar cannot be blamed for soaring oil prices as policymakers around the world tussle with the twin specters of rising inflation and slowing growth, U.S. Treasury Secretary Henry Paulson said on Thursday. Some of the world's leading oil producers and market analysts say the weak dollar is a key factor spurring many dollar-denominated commodities -- including oil -- to record highs, pushing the cost of living higher across the world. It is rare for the United States government to say anything about the greenback beyond its mantra that it believes in a strong dollar, but developed nations are ramping up the rhetoric in an effort to get oil producers to increase supply and help tame inflation.
LONDON (Reuters) - A weaker dollar cannot be blamed for soaring oil prices as policymakers around the world tussle with the twin specters of rising inflation and slowing growth, U.S. Treasury Secretary Henry Paulson said on Thursday.
Some of the world's leading oil producers and market analysts say the weak dollar is a key factor spurring many dollar-denominated commodities -- including oil -- to record highs, pushing the cost of living higher across the world.
It is rare for the United States government to say anything about the greenback beyond its mantra that it believes in a strong dollar, but developed nations are ramping up the rhetoric in an effort to get oil producers to increase supply and help tame inflation.
Don't blame us. It's hard work, you know, being an imperial power and all. Now where are we going and what's with the handbasket?
