In Conclusion...: Difference between revisions
From Dickinson College Wiki
Jump to navigationJump to search
No edit summary |
No edit summary |
||
| Line 1: | Line 1: | ||
The price of crude oil has risen drastically over the last five years. While the inflation rate of the economy grew by 13.8 percent, the price of crude oil rose by 144.3 percent. These differences are extreme and many factors can account for them. In general, crude oil's finite supply and an ever increasing world demand have driven the price of oil up in the long-run, while speculation over wars, disasters, and output by certain countries has caused the market to increase in the short-run. | |||
[[Oil: Post 9/11]] | [[Oil: Post 9/11]] | ||
Revision as of 04:07, 4 December 2006
The price of crude oil has risen drastically over the last five years. While the inflation rate of the economy grew by 13.8 percent, the price of crude oil rose by 144.3 percent. These differences are extreme and many factors can account for them. In general, crude oil's finite supply and an ever increasing world demand have driven the price of oil up in the long-run, while speculation over wars, disasters, and output by certain countries has caused the market to increase in the short-run.
