Oil wager
Two years ago Dave took on my wager that Big Macs would rise in price faster than oil. One fifth of the way into the ten-year term, things are going in his favor:
The current Big Mac price comes from the Economist's Big Mac Index of July 2007. The price of light sweet crude is from 321energy.com.
Here's a chart showing the petroleum surge.
Oil | Big Mac | Ratio | |
1 Dec 2005 | $58.75 | $3.06 | 19.2 |
27 Jan 2006 | $67.35 | $3.15 | 21.4 |
6 Apr 2007 | $64.28 | $3.10 | 20.7 |
1 Dec 2007 | $89.00 | $3.41 | 26.1 |
The current Big Mac price comes from the Economist's Big Mac Index of July 2007. The price of light sweet crude is from 321energy.com.
Here's a chart showing the petroleum surge.