Oil Spikes and Unemployment

Oil Spikes and Unemployment

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Did you know the four highest U.S. unemployment rate spikes from 1950-2010 were immediately preceded by the four highest spikes in oil prices? The graph below suggests that long-term energy policy should be supply focused. More steady supply from the U.S. means lower prices and less volatility. To consumers, today’s near historical low oil prices are a stark example of the what happens when the U.S. increases its standing in world oil production. Click the graph to take a closer look.

oil vs unemployment

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