Excellent Explanation of Oil Markets
DJ Drummond, over at Polipundit has written a fantastic entry on the economics of oil. I’ve written on this subject in the past, but Drummond really did a fine job of covering a lot of the details of why the oil prices fluctuate. Also, there’s a great chart showing the inflation adjusted prices of gasoline since the early 1970s. If you think gas prices are outrageous, and that the oil companies exist just to screw you, this post should be a good education.
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