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$128 For a Bushel of Wheat

February 7, 2009

I heard this on Howard Stern.

Iraq sells us a barrel of oil for $128. We sell a bushel of wheat to Iraq for $7. Why doesn’t the US raise the price of a bushel of wheat to $128?

What? You can’t afford that much for a bushel of wheat? THEN DRINK YOUR OIL.

I bet a drop in the price of oil would soon follow.

Hey Yang, you think it’s time to talk to Mr. Obama?

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2 Comments leave one →
  1. Phil permalink
    February 9, 2009 10:51 am

    That would mean politicians have common sense. That’s unheard of!

  2. yang permalink
    February 9, 2009 6:06 pm

    Right now the market price for a barrel of oil is about $40. So unless the Bushies were dumb enough to sign a long-term contract to buy Iraqi oil at $128, the exchange price favors the farmers.

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