Leeb – Oil Above $60/Barrel: Still Cheaper than a Cup of Coffee

Crude oil prices are once again above $60 a barrel and local television newscasts have returned to that old chestnut, consumers grousing about the high cost of gasoline, to fill airtime. Never mind the fact that despite the great lengths we go to extract, transport and refine it, ounce-for-ounce petrol is still far cheaper than a cup of coffee or bottled water.

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The financial crisis and subsequent economic contraction has pushed peak oil