This time again it is over $100 per barrel for few days and much of the economy is weak. This time there is no blame on the commodities market or high oil consuming nations and people hardly even talk about it. Looks like high oil prices have now become part of life. Oil prices started soaring again with some positive results out of the economy. Yes if the economy goes back into recession, oil prices will drop again. But the drop will be temporary. If the economy starts performing at full throttle than the prices would once again soar high. It is difficult to imagine as to what prices we would see on oil if the economy performs at full potential.
It is acceptable for the oil prices to move with the economic boom and bust… but do the current economic condition justify $100 per barrel?
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