Today I looked up the average cost increase of a barrel of oil over the past few years from the 1940’s. After world war two, the inflation-adjusted price for a barrel of oil was 24 dollars and twenty cents. Now, the cost is riding just under one hundred dollars a barrel. From 2003 to the current price, there has been a seventy-four dollar increase.
Tomorrow I will investigate why exactly this price jump has occurred, and why it has happened so violently in recent years.
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