Small Boy Put to Good Use

Small Boy Put to Good Use

Friday, July 07, 2006

Inflation adjusted oil prices

Chart of the Day here provides the graphic and this description:
The price for a barrel of crude oil has just surged above the $75 level. While oil is currently at 24-year highs, it is still significantly below the inflation-adjusted highs of 1980. It is also interesting to note that most oil price spikes were a result of Middle East crises and often preceded or coincided with a US recession.
Let's see 1980, wasn't Jimmy Carter president then?

UPDATE: And, yes, Mr. Clinton was president during some of the lower price periods.

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