Crude Price History

Here’s some more color on Oil: The WSJ decided to track the past few decades of Crude’s price history, both adjusted (and not) for inflation (quite informative).


click for larger graphic

Crude_infl_adj

Courtesy of WSJ
<spacer>


Here’s their timeline:

1970: U.S. oil output peaks and begins a long decline

March 18, 1974
: Arab oil embargo ends

November 1974
: Industrialized nations found International Energy Agency, commit to holding strategic oil reserves

Feb. 11, 1979
: Iran is in revolution; the followers of Ayatollah Khomeini come to power
Second quarter of 1979: Amid price increase free-for-all among OPEC members, Saudi Arabia cuts production

Sept. 22, 1980
: Iran-Iraq war begins

Jan. 28, 1981
: President Reagan lifts U.S. oil price and allocation controls

March 30, 1983
: Crude-oil futures begin trading in New York

November – December 1985
: Opec decides to increase market share; price war begins

August 2, 1990
: Iraq invades Kuwait

April 1994
: U.S. net imports of oil begin to consistently exceed domestic production

July 2, 1997
: Asian economic crisis errupts; oil demand drops

September 11, 2001
: Terrorist attacks on New York and Washington, D.C.

March 19, 2003
: U.S.- and British-led coalition invades Iraq

November 13, 2003
: Amid growing demand, supply disruptions and Middle
East tensions, IEA says China is biggest driver of global oil demand

Category: Commodities

Well, If You Exclude Oil, You See…

Category: Financial Press

Look Ma, No Inflation!

Category: Economy

Technical Tools That Work

Category: Financial Press, Technical Analysis

Misleading Fund Performance?

Category: Investing

Athletes and Trading

Category: Trading

Inflation, Energy & Core CPI (Forbes Video)

Category: Economy

2006 Elections: An early Look

Category: Politics

“depraved indifference to economic growth”

Category: Economy

Apprenticed Investor: Write This Down

Category: Investing