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Introduction

Another month, another record high for oil. The West Texas Intermediate (WTI) crude oil futures contract on the New York Mercantile Exchange broke above $140 a barrel on June 26. Ten months ago, on August 22, 2007, WTI crude oil was trading at $67.85.

Back then, there were plenty of grumbles and complaints about rising energy costs. Now, concerns have been cranked up several gears. Politicians on

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