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oil prices

Can a 70$ oil price cause an economic recession??

If yes that may look like an economic cycle

economy is goo -> oil prices go up -> up up up

* crash *

economy is bad -> oil prices go down.

* really bad *

economy gets better -> oil prices go up again

Any ideas?
Permalink Michael Moser 
August 31st, 2005
so this guy may have a case after all.
Permalink Michael Moser 
August 31st, 2005
$4 a gallon gas might be able to:

Permalink Cory Foy 
August 31st, 2005
It has occurred to me that the oil crash of 1974 was caused NOT by high prices of gas, but by low supply of gas. It's the suffering people experienced while waiting in gas lines that caused them to avoid gas-guzzlers, not the price of filling those gas-guzzlers.

Thus I theorize that the high price of gasoline can continue almost indefinitely, as long as the SUPPLY of gasoline continues. Now, if we get gas lines again, then FINALLY SUV's will go out of favor. Not before.
Permalink AllanL5 
August 31st, 2005
caracas' current gas price is $0.12 usd/gal

i wonder how much capacity they have?

import it from them instead of crude from OPEC
August 31st, 2005
>import it from them instead of crude from OPEC.
LOL. We already import half of Venezuela's exports of oil. They are our 5th largest supplier, supplying us with something like 10% of our oil imports.
Permalink Peter 
August 31st, 2005

This topic was orginally posted to the off-topic forum of the
Joel on Software discussion board.

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