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The Year in Research
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Jun 10 2008 12:00am EDT
Chart of the Day: Oil Facts
Despite the recent surge in crude, the annual change in oil prices -- while high by historical standards -- has yet to break records:
On the other hand, the inflation adjusted-price of oil has hit an all-time high (hat tip: Econbrowser):
Since its relative price changes (both relative to other goods and past history) that impact growth rather than absolute ones, this may partly explain why the economy, at least through 2007, has been relatively resilient in the face of soaring energy prices.
