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Oil Standard

Oil_ipodamazon_cropOil Standard, a browser plugin by artist Michael Mandiberg, will convert prices from U.S. Dollars into the equivalent value in barrels of crude oil.  "When you load a web page, the script seamlessly inserts converted prices into the page."  Hold your mouse over the price and the plugin will load a recent news headline on the oil business.

Nickels, silver dollars, gold coins - our money used to be linked with the value of precious metals.  That ended in 1971 when Nixon closed the "gold window" and one could no longer cash in their dollar bills for gold and silver in the federal reserves.  A few years later the US dollar became the exclusive currency of OPEC, tightly tying US money and the value of oil together.  Today it's common knowledge that gas prices go up and the dollar will buy you less.  The 10W40 Dollar has a ring to it, no?

Posted by Steve Lambert on 04/05/2006 | Permalink

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