Oil was alot cheaper back then and made some things less expensive than they are now. In 1984, the price of oil was $28.75 ($62.47 adjusted for inflation) and that was considered high around that time. High oil prices that we are experiencing right now is only going to make things much more difficult and more expensive. The reason why we can afford so many luxuries that our parents couldn't is because of globalization and cheap labour. If oil prices continue to stay high or go higher, it may make things uneconomical to transport over seas and we may not be able to get huge TVs for $500. We may have to build them here!!!
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