$145.33 for a barrel of oil compared to the current $85.62. It does take a while for oil prices to drop though. That model shows years at a time. If you move the sides of the graph to look at only the crash it takes from July of 2008 to March of 2009 to fully crash. Nine full months if you include July.
In July of 2008 A single barrel was $145.29 and then right after that spike in price it began to drop And by the end of december it was at an all time low of $36.51. Im trying to figure out what happened here to make it drop so low so quickly.
Doesn't have anything to do with math but what's always fasinated me about particulary gas and oil prices is the political pressure that causes their changes is stronger than the basic supply and demand factors of an economy. For Instance I know around that time in 2008 a cease fire had been issued over the Gaza Strip. This eased tensions enough that Middle East oil companies could increase they're oil exports. With the cease fire the goverments in that area didn't need excess domestic spending to keep their populations happy. Also would of flooded the market with oil, dropping prices
$145.33 for a barrel of oil compared to the current $85.62. It does take a while for oil prices to drop though. That model shows years at a time. If you move the sides of the graph to look at only the crash it takes from July of 2008 to March of 2009 to fully crash. Nine full months if you include July.
ReplyDeleteIn July of 2008 A single barrel was $145.29 and then right after that spike in price it began to drop And by the end of december it was at an all time low of $36.51. Im trying to figure out what happened here to make it drop so low so quickly.
ReplyDeleteDoesn't have anything to do with math but what's always fasinated me about particulary gas and oil prices is the political pressure that causes their changes is stronger than the basic supply and demand factors of an economy. For Instance I know around that time in 2008 a cease fire had been issued over the Gaza Strip. This eased tensions enough that Middle East oil companies could increase they're oil exports. With the cease fire the goverments in that area didn't need excess domestic spending to keep their populations happy. Also would of flooded the market with oil, dropping prices
ReplyDelete