Steven Hansen submits:Is this round two of the price of oil vs. the Dow Industrials? Will the effects on the Dow of the 1973 Oil Crisis repeat itself? There are several similarities and differences. One similarity, which got me thinking, was that the percentage increase in oil prices was similar to today – albeit it happened slower this time.
The chart below compares the 1973 Dow Industrials with the price per barrel of oil. The charts begin with oil and the Dow Industrials with relative values of one.
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