MH60S

Friday, January 19, 2007

The Inflation-Adjusted Price of Oil

The people at Chart of the Day offer up this chart:



And this comment:
The price for a barrel of crude oil continues to decline and now trades below $51. While the price is nowhere near inexpensive, it has been heading in the right direction. For some perspective, today's chart presents the current trend in the price of one barrel of oil. As the chart illustrates, oil has broken below trend (see green dashed line).
I wonder how much media coverage this will get? Surely just as much as when the price of crude was bumping upwards - right?

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