Wednesday, March 5, 2008

By any measure, oil hits historic high price over $ 104

In 1980, when OPEC used its monopoly power to dramatically cut the supply of oil, oil prices reached an inflation-adjusted high between $ 90 and $ 103.  The wide variation reflects the difficulty in those times of establishing the market price of oil and the difficulty in choosing a way to adjust for inflation.  But now we don't need to worry about those details: oil prices are hitting historic levels.  Dow Jones Marketwatch

http://lawprofessors.typepad.com/environmental_law/2008/03/by-any-measure.html

Economics, Energy, Governance/Management, International, North America, Sustainability, US | Permalink

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