Oil Price Problems
The problems with oil prices (it's a "problem" when one has to buy it, it's no problem when one is selling it) is a couple things:1. The "almighty dollar" is not so almighty anymore. The Euro is worth over $1.44 the last I checked and has been increasing in value very well against the buck. Back around 2000 or thereabouts the Euro was in the $0.88 range, more or less. That's a major increase against the dollar and our imports/exports are not keeping pace with the dollar decline. Actually, it's not so much the increase in the Euro as the decline in the greenback dollar. Basically all other major currencies have gained against the greenback and sellers of oil who used to insist on the greenback don't want it anymore. Now what happens is we buy in, say, Euros, and there is an exchange rate which also costs and that has to be factored in. And the exchange rate is several percent.2. The next thing is the production rate for oil worldwide has started to decline. (!) And this at a time when the world demand for oil is increasing. Countries like India and China with their booming economies want oil to run their generators, plants, and vehicles, so there is a huge demand there and it is increasing. Bottom line is be glad you've got a sailboat and not a fuel-guzzling powerboat. I can imagine that the resale value, say as a percentage of new for the age, for high-horsepower powerboats, those that are designed to go fast, should start to fall, if they haven't already. There are a lot of ads for "trawler" type powerboats that get much better mileage and that's probably a harbinger of things to come.Today's rising fuel prices are probably just the beginning of what lies ahead. Take good care of your sailboat and don't try not to be too smug at the fuel dock if there is a powerboater there. They already feel enough pain.