It took oil 23 years to exceed its nominal peak

Are you waiting for oil to bounce back to its peak of 2008?  You could be waiting a long time. In the below chart, I juxtaposed the price of oil from May 2004-Jan 2016 (in black, top section of chart) above the price of oil from Jan 1977-May 2004 (in gray, bottom section of chart).Continue reading “It took oil 23 years to exceed its nominal peak”