{"id":494165,"date":"2010-03-31T13:22:00","date_gmt":"2010-03-31T17:22:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:416846"},"modified":"2010-03-31T13:22:00","modified_gmt":"2010-03-31T17:22:00","slug":"barrel-of-oil-worth-22-big-macs","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/494165","title":{"rendered":"Barrel of oil worth 22 Big Macs"},"content":{"rendered":"<p><a href=\"http:\/\/network.nationalpost.com\/NP\/blogs\/tradingdesk\/bigmac.jpg\"><img decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/blogs\/tradingdesk\/bigmac.jpg\" align=\"left\" border=\"0\" hspace=\"5\" alt=\"\" \/><\/a>Trying to see the path of oil prices over the course of several years is more complicated than you think. Currency fluctuations can hide patterns; so can inflation. <\/p>\n<p>Gregor Macdonald, an oil analyst, suggests that what we need is a fundamental unit of valuation and he has a brilliant suggestion: <a href=\"http:\/\/gregor.us\/oil\/oil-in-big-macs-decade-edition\/\" >Why not use Big Macs?<\/a> If you assume that the trademark burger represents a diversified basket of agricultural goods, expressing oil prices in terms of Big Macs shows you how oil has fared in terms of the real prices of other key commodities.<\/p>\n<p>Macdonald calculates that a barrel of oil was worth 10 to 12 Big Macs back in the 2000 to 2003 period. Since 2004, though, oil has soared. It reached a peak of nearly 28 Big Macs in 2008 and, even in the middle of a global recession stayed close to 20 Big Macs. It is now around 22 Big Macs. <br \/>&nbsp;<br \/>Macdonald suggests that oil prices have reached a permanently high new plateau. We used to live in an era of 10 Big Macs oil; now we live in an era of 20 Big Macs oil. <\/p>\n<p><i>Freelance business journalist<b> Ian McGugan<\/b> blogs for the Financial Post<\/i> <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=416846\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trying to see the path of oil prices over the course of several years is more complicated than you think. Currency fluctuations can hide patterns; so can inflation. Gregor Macdonald, an oil analyst, suggests that what we need is a fundamental unit of valuation and he has a brilliant suggestion: Why not use Big Macs? [&hellip;]<\/p>\n","protected":false},"author":4059,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,7],"tags":[],"class_list":["post-494165","post","type-post","status-publish","format-standard","hentry","category-energy","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/494165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4059"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=494165"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/494165\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=494165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=494165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=494165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}