4.05.2005

The Price of Oil

The price of oil's been increasing for a while now, but rarely is the price put into historical perspective. Take a gander at this chart to see fluctuations in the price of oil since it hit the market after the Civil War. When you look how cheap oil's been for decades, it's no wonder Goldman Sachs said last week that it would need to hit $105 per barrel or higher to significantly affect consumption.

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