Yglesias

Oil Price Madness

CREDIT:

I thought this chart from Calculated Risk looking at the past 25 years of oil prices was interesting:

oilpricesoneyear-1

At any rate, as you can see here it doesn’t just seem like the past few years worth of oil price activity has been crazy, it’s really been crazy. And note that we’re in the midst of a pretty remarkable increase in prices considering that there’s no economic growth.

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