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Inflation adjusted oil prices - well past the all-time high

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gristy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-06-08 10:18 AM
Original message
Inflation adjusted oil prices - well past the all-time high
Edited on Tue May-06-08 10:28 AM by gristy
The economy cannot weather these prices in the long term, or even support them. The only way out that I can see a major recession/depression until oil consumption is reduced enough that the price of oil can drop.

Click on the link to see the graph:
http://www.inflationdata.com/inflation/images/charts/Oil/Inflation_Adj_Oil_Prices_Chart.htm

Unsurprisingly, this is not particularly big news in the MSM:
http://news.google.com/news?hl=en&um=1&tab=wn&q=inflation-adjusted+oil+price&btnG=Search+News

Seems like not too long ago when prices were in the $40-$80 range they were saying things like "when adjusted for inflation, oil prices aren't all that high".

Well now they are.
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Tippy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-06-08 10:22 AM
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1. I forsee a Depression on the horizon.....n/t
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bdamomma Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-06-08 10:25 AM
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2. that flushing sound I hear is the US swirling down.
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Strelnikov_ Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-06-08 10:57 AM
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3. That's just so January n/t
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