Between 2000 and 2008 the price of oil increased from 30, Microeconomics

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Between 2000 and 2008 the price of oil increased from 30

Question: Between 2000 and 2008, the price of oil increased from $30 per barrel to $140 per barrel, and the price of gasoline in the United States rose from about $1.50 per gallon to more than $4.00 per gallon. Unlike in the 1970s when oil prices spiked, there were no long lines outside gas stations. Why?

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