Putting oil prices in perspective

Many pundits (when they can tear themselves away from the primaries for long enough) express complete horror and dismay at the fact that last month oil prices reached $100 per barrel.

However, that still means that it’s cheaper to get half a pound of oil from halfway around the world than it is to mail a 1-ounce letter across the street.

3 thoughts on “Putting oil prices in perspective

    • Soitanly.

      A barrel is a unit of volume, and the weight of oil per unit volume can change with temperature, but a good average is around 150kg, or 330 pounds. So a pound of oil at $100 a barrel should be about 30 cents–so I would have gotten away with saying a full pound, actually!

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