Commodity Prices in the Early 1970s

I was always under the impression that the creation of OPEC was the root cause of crazy commodity prices in the 1970s, but when I went back to look at the charts it appears not to be the case... obviously dollar devaluation was the most important thing to understand back then.

I was inspired to look back at prices after reading Paul Erdman's mystery, "The Billion Dollar Sure Thing," which is one of the many Edgar Award winners I've been plowing through lately.

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