http://www.investopedia.com/terms/c/capitalism.asp The authors of this article w
ID: 1093363 • Letter: H
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http://www.investopedia.com/terms/c/capitalism.asp
The authors of this article write that 9 out of 10 recessions since WWII have followed a spike in oil prices. The US is increasing its domestic supply of oil. This year, the US will import 41% of its requirements vs 60% in 2005. The US Energy Information Agency maintains that with 20 years the US could become more self-sufficient and import only 14% of its requirements. Though oil is a global commodity, would US supply of 86% of its requirement dramatically reduce the probability of future recessions caused or greatly influence by oil price spikes?
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