How long was oil at $30 during the Gulf War?

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What happened the last time oil was $30 dollars? Did it stay at these levals for long and what kind of financial effects did it have? Anyone want to comment?

-- Ed (ernthwd@hotmail.com), February 21, 2000

Answers

I only have a weekly chart, but it was over $30.00 for 12 weeks.

-- Gregg (g.abbott@starting-point.com), February 22, 2000.

How quickly we forget. In 1996 dollars, oil was over $30 a barrel from the last several months of 1981 until about the middle of 1985. It peaked at around $70 a barrel in January 1982. It wasn't a pleasant experience but we all survived. You can find more information at www.wtrg.com.

-- Jim Cooke (JJCooke@yahoo.com), February 22, 2000.

Oh hush, Jim. $30 a barrel will lead to a inevitable NWO orchestrated slide into global NBC war and subsequent cannibalism. It must be true, the Great Eagle Spirit wrote it ten thousand times on the wall of my bunker last night. Too small for the untrained human eye to see of course, but I can see it, as I have been Chosen.

;)

Genuine thanks for being one of the few to spot the importance of "year" dollars. Anyone care to calculate the difference between 2000/ $30 and 1982/$70? Try expressing your answer in terms of how many loaves of bread those dollar can/could buy.

-- _ (_@_._), February 22, 2000.


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