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Cowperson · 08-03-2004, 11:31 AM

It could hit $50 I think.

Relative to the oil crisis of 1973 when OPEC embargoed the West over policies in Israel, and even relative to the 1980's, the price of oil is actually still comparitively cheap.

I think I saw a study a while ago that said oil would need to be about $80 a barrel to have the same impact on the economy it had in those days.

It was only about 4 years ago the cover of The Economist wondered if oil would go under $10 a barrel. That was the low point for the commodity.

Cowperson

08-03-2004, 11:31 AM	#4
Cowperson CP Pontiff Join Date: Oct 2001 Location: A pasture out by Millarville Exp:	It could hit $50 I think. Relative to the oil crisis of 1973 when OPEC embargoed the West over policies in Israel, and even relative to the 1980's, the price of oil is actually still comparitively cheap. I think I saw a study a while ago that said oil would need to be about $80 a barrel to have the same impact on the economy it had in those days. It was only about 4 years ago the cover of The Economist wondered if oil would go under $10 a barrel. That was the low point for the commodity. Cowperson __________________ Dear Lord, help me to be the kind of person my dog thinks I am. - Anonymous