
149. Superabundance with Gale Pooley
The Bitcoin Standard Podcast
What Happened to the Oil Price in 73?
In 1970, the price of a barrel of oil was $3. In 1973, it dropped to $12 after Nixon went off the gold standard. "I'd look to 71 as being a leading cause of the 73 oil crisis," he says. If Nixon had really gone back to a proper gold standard, people today would be paying $4.25 for a Barrel of Oil.
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