The Good News About Costly Oil

Expect prices to slowly come down — and if they don’t, fear not. Even at $75 a barrel, we wouldn’t see a recession in the U.S. Oil prices are surging again, leading to fears that the age of cheap energy is coming to an end. In the mid-1970s and again in the early 1980s, oil prices surged only to drop back. This time, we at Standard & Poor’s expect oil prices to slide gradually to the $30 range over the next two years.

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