When looking at US Bond Yields and the price of Oil, remember that crude oil didn't become a freely traded market until the early 1980s. The price of oil going up through the 1950s through 1970s was the US government changing the fixed price of Oil.
When looking at US Bond Yields and the price of Oil, remember that crude oil didn't become a freely traded market until the early 1980s. The price of oil going up through the 1950s through 1970s was the US government changing the fixed price of Oil.
yes correct. My understanding was that crude oil price was fixed, but refined wasn't. So in the 1960s, US refiners made fortunes, but drillers not so much. So OPEC was also trying to rectify this imbalance too. I have tried to find official data on this - but have failed so far.
My understanding is that price of the products were fixed too, until the late 1970s. That is why heating oil futures started trading before crude oil futures. "The Act also extended price controls for refined products." Link here https://www.journals.uchicago.edu/doi/full/10.1086/675589 Dr. Bob Murphy also has an article with examples of how oil traders were gaming the price rules to make money https://www.instituteforenergyresearch.org/regulation/crazy-crude-oil-price-controls-1970s/ I think Dr. Murphy would be the one to contract for any price history of regulated prices of petroleum products.
When looking at US Bond Yields and the price of Oil, remember that crude oil didn't become a freely traded market until the early 1980s. The price of oil going up through the 1950s through 1970s was the US government changing the fixed price of Oil.
yes correct. My understanding was that crude oil price was fixed, but refined wasn't. So in the 1960s, US refiners made fortunes, but drillers not so much. So OPEC was also trying to rectify this imbalance too. I have tried to find official data on this - but have failed so far.
My understanding is that price of the products were fixed too, until the late 1970s. That is why heating oil futures started trading before crude oil futures. "The Act also extended price controls for refined products." Link here https://www.journals.uchicago.edu/doi/full/10.1086/675589 Dr. Bob Murphy also has an article with examples of how oil traders were gaming the price rules to make money https://www.instituteforenergyresearch.org/regulation/crazy-crude-oil-price-controls-1970s/ I think Dr. Murphy would be the one to contract for any price history of regulated prices of petroleum products.