Oil price and weak dollar

We have seen crude oil price rocketing in recent years but is it only because we are running out of oil? This graph form Goldprice.org clearly demonstrates gold has preserved it’s value over the years and we are really suffering high prices only because of weakening dollar.

Don’t get me wrong, I really think we should get rid of our dependency of oil and move to alternative energy sources. Still this is a very interesting observation since it pretty much contradicts with a common belief of reasons behind rising oil price.