Iraq was 1% of global oil production prior to Bush-Cheney Iraq War II.
Why did global oil prices change so much post 2003?
2000s energy crisis / disaster https://en.wikipedia.org/wiki/2000s_energy_crisis
> End of the crisis:
> By the beginning of September 2008, prices had fallen to $110. OPEC [...]
World oil market chronology from 2003 https://en.wikipedia.org/wiki/World_oil_market_chronology_fr...
> From the mid-1980s to September 2003: under $25/barrel.
1998: $10 2004: $40-$60. A series of events led the price to 2005: $60 2006: $75 2007: $60-$99 2008: $141.75
How did costs change over that time given efficiency growth year over year
Renewables are more lucrative with higher gas prices.
High gas prices typically lead to consumer price inflation and then prices never go back down.
Iraq was 1% of global oil production prior to Bush-Cheney Iraq War II.
Why did global oil prices change so much post 2003?
2000s energy crisis / disaster https://en.wikipedia.org/wiki/2000s_energy_crisis
> End of the crisis:
> By the beginning of September 2008, prices had fallen to $110. OPEC [...]
World oil market chronology from 2003 https://en.wikipedia.org/wiki/World_oil_market_chronology_fr...
> From the mid-1980s to September 2003: under $25/barrel.
14x higher price in 10 yearsHow did costs change over that time given efficiency growth year over year
Renewables are more lucrative with higher gas prices.
High gas prices typically lead to consumer price inflation and then prices never go back down.