8220Got those OPEC Blues Again8221 and 8220Rational Exuberance8221 ?Got those OPEC Blues Again? and ?Rational Exuberance? patronize Since March of 1999, when the price of West Texas Intermediate crude ve draw offable rock oil was at $13 a barrel, we postulate seen a truehearted increase in prices in every(prenominal) phases of the economy. OPEC, the organization that is by and large responsible for setting deed goals in the Middle East, was nether fire to find ship canal to increase prices. OPEC members at this prison term ?pledged to skip back the supply of crude and shake up oil prices higher.? (Business Week, 48) The results were better than most expected: crude oil prices were just about $27 a barrel on November 23, 1999, the highest price since the 1991 disconnectedness War. (Business Week, 48) The demand for oil is outpacing current supply by 2.8 one million million million barrels, causing some in Congress to be seech for simplicity by tapping into the Strategic Petroleum Reserves. (Business Week, 49) The rapid increases in prices welcome had a welcome effect o...If you want to get a full essay, order it on our website: OrderCustomPaper.com
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