2014-oil-price-dropsm“History does not repeat itself, but it does rhyme.” Mark Twain

In 1981 Oil prices hovered near $40 per barrel. US domestic exploration was booming. OPEC flooded the market and dropped the price of oil to $11 per barrel. The cost of production in the US was $17. Today the cost of production is $57. Dj vu all over again.