Oil Prices Again Threaten Construction Activity
Abstract:
The price of crude oil has been labeled overpriced in economic models for several years with quick, substantial declines predicted. However, the price of crude oil keeps rising and is now over $90/bbl. for the high quality blends that serve as industry price benchmarks. How does this happen? How long can it continue? And could it derail the expected improvement in economic growth and the accompanying rise in demand for building space and facilities?
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The price of crude oil has been labeled overpriced in economic models for several years with quick, substantial declines predicted. However, the price of crude oil keeps rising and is now over $90/bbl. for the high quality blends that serve as industry price benchmarks. How does this happen? How long can it continue? And could it derail the expected improvement in economic growth and the accompanying rise in demand for building space and facilities?