Monday, October 29, 2007

$90/barrel: Is it time to start worrying about the oil price shock of 2007?

Oil shocks in 1973, 1979, and 1990 were each followed by a recession. But we saw the price of oil climb from $20 a barrel in 2002 to $75 a year ago, and so far it has not resulted in a significant economic downturn. What's different now, and can we count on it to continue?

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