Influx

This graph from WTRG Economics, shows the history of crude oil prices since 1947 and shows our current situation in context.

The knock on impact of this in obviously considerable with most industries finding little place to to hide from the impact and effects.The significance of this cannot be under-estimated especially as forecasts suggest the price is unlikely to come down.

With the recent report from the OECD that food prices are also likely to stay high for at least 10 more years, shows that previously “cheap” essentials for life are fast becoming luxuries.

Posted by Ed Cotton