Skip to Main Content
November 08, 2010
Brattle Principal Gary Taylor Interviewed on National Public Radio Regarding the Future of Oil Prices

Gary Taylor, a principal in Brattle’s Cambridge, MA office, was interviewed for a segment that ran on National Public Radio (NPR) on November 8, 2010 about how the sharp rise in oil prices could hinder economic recovery. Crude oil futures are approaching $90 a barrel on the New York Mercantile Exchange, compared with less than $32 per barrel back in January 2009. This has resulted in higher gas prices, damaging the bottom line for many gas station owners. In addition, the Federal Reserve last week said it will buy $600 billion in government bonds to boost the economy, which will push the price of oil up even higher. According to Mr. Taylor, oil futures appear to be settling in around $85 to $90 a barrel, but that's only because traders don't know where prices are really headed. "If the higher prices do stick around, that could hinder a fragile economic recovery. A $10 increase in the price of oil is like a $200 million tax on the economy a day," he said during the segment. For more information, please visit the NPR website.