Page added on June 25, 2008
NEW YORK – Mark Twain once said that
…Back then, the OPEC oil embargo sent crude prices soaring from $3.77 a barrel in May 1973 to above $12 by January 1974. Another price surge came later in the decade following the Iranian revolution, which pushed crude prices from around $14 a barrel in 1978 to above $30 two years later, according to Lehman Brothers.
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