Here's An Annotated Chart Of Oil Prices Since The Lincoln Presidency

Today, BP released its statistical energy review for 2014.

Among the highlights:

  • Energy consumption accelerated despite sluggish economic growth
  • Coal was the world’s fastest-growing energy source, thanks to China and India
  • Average oil prices exceeded $US100 per barrel for a third consecutive year, despite massive supply growth in the US.

But our favourite chart is here: It shows the price of oil every year since Abraham Lincoln became president. It’s annotated with major oil shock events — though the first major event cited, the oil gusher in Titusville, Pennsylvania is slightly misleading. That in itself did not cause markets to surge, but rather a host of factors including the Civil War and the changing face of transport in America.

Check it out:

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