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1980 was an artificial spike in the price of oil, so that chart is cooked to confuse the issue. Within a few years the price had fallen to $10 per barrel, sending oil-focused Texas into recession.
As I recall, Oil wasn't even traded as a commodity until the mid 80's, keeping the speculator's out of the market entirely.
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72 914 2056: 74 9146 2.2: 76 914 2.0
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