Looking at the prices of ETFs like XLE and XEG.TO back in 2008, it seems like they've crashed hard by getting cut in half. Does anyone remember the history behind what happen here 14 years ago?
I'm trying to do a bit of google search on the news back in those date ranges and I see some familiar headlines like “soaring oil prices”, “saudis rebuff bush's request to pump more oil”, “crude oil price pass $120 for the first time”,”Obama calls for tapping into strategic oil reserves”
are we heading into a repeat of history where high oil prices causes demand destruction and a recession is causing money demand destruction?
Thanks!
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