Putting Oil Prices inward Perspective

Given the huge spend upwards inwards petroleum prices over the yesteryear year, I idea it powerfulness endure useful to position the electrical current toll inwards to a greater extent than or less historical perspective. Below is the toll of petroleum relative to wages. Roughly, the graph shows the reveal of hours a production worker needs to travel to brand plenty to purchase i barrel of unsmooth oil. What is near hitting to me how picayune long-term tendency at that spot is (despite neat volatility) too that the electrical current marker is rattling much normal yesteryear historical standards.

Click on graphic to enlarge.

Sumber http://gregmankiw.blogspot.com/