Since 1860 on to 1974 the price of oil was very stable at around $2.00 a barrel.
Then the OAPEC oil embargo increased oil prices from around $2.00 to $12.00 a barrel.
From 1974 to 1979 was around $14.00 a barrel.
From 1979 to 1981 the price per barrel increased sharply from $14.00 to $39.00 a barrel.
From 1981 to 1985 price decreases from $39.00 to $28.00 a barrel as world supply goes up.
From 1985 to 1986 the price plunges from $28.00 to $11.00 a barrel..
From 1986 to 1999 the price fluctuates between $11.00 to $18.00 to $14.00 to $20.00
From $20.00 to peak in 1991 of $33.00 with first Gulf War
From 1991 to $18.00 to $20.00 to $16.00 in 1992...
From 1992 at $20.00 to 1994 at $13.00..a barrel
From 1994 at $13.00 to 1997 at $24.00...a barrel.
From 1997 at $24.00 to under $10.00 in 1999 for a barrel..
From 1999 at $10.00 to 2001 at $30.00 a barrel..
From 2001 at $30.00 to 2002 at $16.00 a barrel..
From 2002 at $16.00 to 2003 at $33.00 a barrel..
From 2003 at $33.00 down to $25.00 in 6 months..
From 2004 at $28.00 to 2005 at $60.00 a barrel..a back down to $33.00 a barrel end of 2005.
From 2005 at $33.00 to 2006 at $68.00 a barrel
And in July of 2008 a peak of $147.30 a barrel
(more elaborate post soon)
