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When oil prices spike, where does the money go?

  • Written by Matthew E. Oliver, Associate Professor of Economics, Georgia Institute of Technology
When oil prices spike, where does the money go?The oil industry is all about the Benjamins.Diy / iStock / Getty Images Plus

The market for oil is global, which is why events like the war in Iran affect oil prices – and prices of the wide range of products made from oil – literally everywhere. Federal data shows that the price at the primary crude oil hub in the U.S. was US$66 a...

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