Hacker News Reader

Oil prices are VERY VOLATILE in the last 50 years the number of times the price of oil has either halved or doubled with a year is not uncommon. It has occurred at least a dozen times.

And more importantly, oil prices are less important to the economy than most people believe.

TL: DR - Oil prices are not that important

View on HN

"And more importantly, oil prices are less important to the economy than most people believe."

ROTFL

https://oilvoice.com/Opinion/24972/Our-Finite-World-Why-We-G...

So, it's a coincidence that oil prices peaked during the 2008 crisis?

Once the housing crash occurred, demand plummeted and the price of crude dropped. So yes?

I remember a high school policy debate in early 2009 when my opponent prepared an argument that horrible things would happen if the price of oil dropped.

Fortunately for me, they hadn’t read the newspaper lately.

It was a lot of fun to quote the collapsed oil price from a newspaper I found lying around and then relax the rest of the debate.

You're proving my point that they are tied ?

Correlation does not equal causation.

You don't think that steeply increasing gasoline prices, and the resulting squeezing of discretionary (and not so) income could have popped the US housing bubble ?

https://www.energy.gov/eere/vehicles/fact-915-march-7-2016-a...

Reply on news.ycombinator.com