It is mid-2004 and I have recently read an article somewhere that suggested that the recent increases in the price of OPEC oil in terms of the US dollar have only occurred because OPEC is pegging their prices on the Euro. Let's see if this can be confirmed with a chart of US crude oil prices in terms of Euro.
You can follow along by switching back and forth between your work and this page by using <Alt><Tab>. I will use a level 1 subscription so that you don't have to look at ads in this tutorial, but you do not have to be a subscriber to make these charts.
First make sure you have the advanced features on.
Click here;
continue;
then the advanced features will be on.
Scroll down the Economagic homepage to find the Department of Energy's Monthly Energy data set page.
Go to the Energy Prices section.
Next click on the series Refiner Acquisition Cost of Crude Oil, Domestic in preparation to save the series to your personal workspace.
The series will be presented. To save click on the Save Series to Personal Workspace option.
A new window will open announcing that the series has been saved. You can maximize the window to see the series listed.
You can close this window, and from the data page, go back to the Energy Prices list.
Now click on the following series Refiner Acquisition Cost of Crude Oil, Imported. We will now show tangentially that both domestic and imported prices are similar. We will do this with a quick multiple series chart.
Make a single series GIF chart.
You will then see the single series chart of the imported crude price to refiners.
Scroll down that page and you will see the option for adding series to the above single series chart. Choose the earlier saved series on the domestic crude price to refiners. Then continue.
You will then be presented a set of options for your multiple series chart. For our example, choose the left scale for both series.
Scroll down and click on the Make Chart button, and you will be the following chart.
This is a multiple series chart with one panel. We can see that both series are very similar, so it probably does not make much difference which series we use in the creation of our next multiple series chart.
We will make a chart with the refiner price of imported crude in Euros and the same in dollars on the first panel to see if the price in Euros is more or less constant over the last few months. We will also put the street price of gasoline on the second panel.
Go home, and find Federal Reserve, St. Louis
Find US Exchange Rate Data,
and then find Exchange Rate: U.S. Dollars to one Euro,
As we have done above, click on this series, and then save it to your personal workspace.
Then go home, and find the Department of Energy's Weekly Gasoline Prices.
The first series is U.S. Regular Conventional Retail Gasoline Prices (C/gal)
As before, save this series to your personal workspace.
We are now ready to transform the US crude price to Euros. So click on the refiner crude price.
Click on Transform this series
Scroll down to the section which allows to Add, Subtract, Multiply, or Divide. Click on Divide; choose the series One US dollar to one European Euros; enter a title for the new series; then click the Calculate button.
Now save that new series to your personal workspace.
View your personal workspace, and change the first option in the Chart Multiple Series in a GIF/PDF Chart, from 1 to 2 so we can make a two panel multiple series chart.
Choose the three series in the order shown below.
Put the first two series in panel #1, and the third series in panel #2. For now you can scale the first series to the left; the second series to the right; and the third series on the left of the second panel. You can change the Start Year to 2000, and then make the chart.
You will get something like this.
We hope you can now make your own interesting multiple series charts with this powerful facility.
Good Luck!
A 20,000% Gain in Real Estate
by Kevin Kingston.