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	<title>Sightline InstituteOil Addiction and Recession - Sightline Institute</title>
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		<title>Oil Addiction and Recession</title>
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		<pubDate>Mon, 13 Oct 2008 20:27:42 +0000</pubDate>
		<description><![CDATA[Vulnerability to oil prices helped cause this collapse. | Poorly regulated real-estate lending wasn&#8217;t the only cause of the economic meltdown now gripping the industrial economies. Oil addiction also contributed. The extraordinary rise in oil prices since 2003 has sucked hundreds of billions of dollars out of the US economy (and the Cascadian economy). High oil prices have been a contributing cause of most recessions: Since 1948, &#8220;all large oil price increases but two have been followed by recessions,&#8221;...]]></description>
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