Friday, August 12, 2005

Oil a Bargain Compared to 1980

Outside the Beltway reminds us that current oil prices have not yet reached the level of past records. It is only nominal (before adjusting for inflation) dollars that are at a record. In 1980 oil was$40/barrel which would be $94.20/barrel today. We still have a way to go. Stop whining.

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