How weak will the U.S. dollar get before the FED takes action. Today at closing the price of oil was about $80. The price of oil has increased dramatically over the last four months, rising almost $20 per barrel. Why would the price increase as demand slips? Oil is traded on the open markets and is bought and sold in American dollars. The FED, during Obama's administration has printed more money than at any other time during our nation's history. The over abundance of dollars coupled with our struggling economy has devalued our dollar to the point other countries are considering using a different currency as the global standard. Our government needs to stop the unnecessary spending and reduce our national debt.