The article's author needs to take a more careful look at the history of oil
prices. Just a few months before 9-11, oil had been trading at around $20 a
barrel. Some months after 9-11 oil fluxuated between $25 and $30. In 2006
the big news was that oil had slowly risen to *nearly* $40 a barrel. The
concern was that there had never been a time in US history where oil had been
more
than $40 a barrel without it causing a recession.
While high oil prices help bring on recessions, recessions invariably result
in very low oil prices. And now it has dropped to a mere $79. It's the old
"hurray, I'm a llama again" bit.
OPEC is determined to keep oil at $100 in the long term. They are meeting
soon to that effect.
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