Quote:
Originally posted by CrzyCanuck@Sep 28 2004, 01:57 PM
I thought I read that 50$/ is not the highest is has been when you adjust for inflation.
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Even at $50, oil today has far less of an impact on the global economy than it did in the late 1970's when it was hovering in the $40 area with predictions it was going to $100 a barrel.
I think I've read somewhere that on an inflation adjusted basis, oil would need to be in the $80 a barrel area to have the same "price" it did at its worst moments in the 70's.
Cowperson