posted on Aug, 11 2005 @ 06:17 PM
Originally posted by picard_is_actually_a_grey
That charts a little bit out of date now though isn't it, whack that rise right up to $66.
Not necessarily, the primary causes behind the $66 a barrell is 9/11, wars in Iraq and Afghanistan and OPEC.
If you take into inflation, oil circa 1980 was at about $94 a barrell.
Mid August 2004 there was Hurricane Ivan, increased activity against Arabs by Israeli's, and bombing campaigns by US in Iraq.
In Feburary of this year, Korea said it had nukes, SA held its first ever elections for municipal authorities, Kyoto Protocol went into effect without
March Kyrgyzstan's president was overthrown, though negligible in oil it's pipe line's are used to pay off debts to Kazakhastan which has an
estimated 26billion barrels of oil in reserves.
May, increased insurgent activities in Iraq.
July, bombings in London and start of Hurrican season.