One year ago today the oil price was $147 per barrel. Oh, what a different world it was then pre-Lehman bankruptcy and the meltdown of September to October.
Today the price of oil hovers around $62, a huge discount to last year, but nonetheless 100% up since the lows earlier in the year of $31 dollars.
These are indeed the ups and downs of the Assyrian Empire.
So in an extra special competition I want you to guess predict the price of Oil a year from today.
Anyone who gets it right (rounded down to the nearest whole dollar) wins that amount of Money from me this time next year.
So what do you think, deflation, hyperinflation or more of the same?
(Answers in the comments, competition entry closes midnight 8/7/09)