October 24, 2008
Peak Oil
[x-axis = year]
A barrel of crude oil for December delivery closed at $64.15 today. At one point in July it was trading for over $147 a barrel. This is insane. Either the futures market thinks some seriously bad times are coming, or the previous high was due in part to a speculative bubble. Or both.
Posted by cradle at October 24, 2008 6:22 PMComments
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