Oil Economic Geography

OilpriceProductionNew jpg

Summary: is now a demand driven market Unlike rhodium oil can t be recycled from old gas tanks The oil price curve seems to be a mixture of the rhodium spiky curve AND the CRB step function curve The interesting thing to notice was that even with the collapse of prices in the mid 1980 s the mean price for oil in inflation adjusted dollars didn t return to its historic value of $16

Image Dimensions: 903 x 615