what was the value of oil in 1945?

Answer 1

From "OPEC and the High Price of Oil", a joint economic committee study by the Joint Economic Committee of the US Congress (chaired by Jim Saxton, R-NJ):

"The price of oil used to be low and stable. The price per barrel fluctuated over months, not years and typically by cents or ten cents, not tens of dollars, notwithstanding increasing oil consumption, threatening political events and severe weather conditions. From the end of World War II until the oil embargo of 1973, Arabian Light crude oil sold for less than $2.50 (about $10 in 2004 dollars) per barrel in Ras Tanura, the Saudi Arabian Persian Gulf oil terminal. Then came the oil embargo; the price shot up and started to gyrate. Figure 7 shows the history."

Figure 7 is on page 8 of the linked PDF, and shows the price around $10/barrel in 2004 dollars until '73, when it shot up to about $45/barrel, and $80 in the early 80's with the Iran-Iraq war.

Answer 2

"Beginning in the nineteenth century with the Rockefeller monopoly, persons of wealth and political power decided that the energy of choice for the world would be oil (not coal)--just as the drugs of choice would be alcohol and tobacco. They set out to control the world's oil reserves."

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