Click here to check out
The Chicago Ron Paul 2008 Meetup Group!

Tuesday, August 23, 2005

all oil, all the time

Lotsa of people are writing about oil these days. "The Oil Price Mirage", by Pierre Lemieux, has some good background (and a chart!):
Now look at the last couple of years. Starting in 2003, crude prices climbed from $30 to around $45 by the end of 2004. Since the beginning of 2005, they have gained another 50%. This may be related to the second war in Iraq and the general political situation in the Middle East. But note that even after the recent run-up, a barrel of oil costs about the same as in mid-1982, when prices were going down.
Spotted via Mises Economics Blog.

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home