02 January 2008
100
Oil broke $100/bbl today.
To my mind, this less of an increase in the price of oil than it is a decline in the value of the dollar (the linked article mentions Fed rates cuts contributing to the price rise).
FWIW, oil appears to be near or at the all time highs, adjusted for inflation of the early 1980s.
To my mind, this less of an increase in the price of oil than it is a decline in the value of the dollar (the linked article mentions Fed rates cuts contributing to the price rise).
FWIW, oil appears to be near or at the all time highs, adjusted for inflation of the early 1980s.
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