"Todd Fatheree" wrote in message
...
"George" George@least wrote in message
...

"Todd Fatheree" wrote in message
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As an aside, here's something interesting I found. On an
inflation-adjusted
basis (2005 dollars), the price of crude oil peaked in the early 80s at
$84.29/bbl. In fact, from the late 70s through the early 80's, crude
oil
cost more than it does now. Of course, you'll never hear that in a
newscast, because it suits their purpose to report "record oil prices".
Here's another one...in the early 70's, crude oil traded at (again in
2005
dollars) $9.03/bbl.


Lies, damned lies, and statistics again.

Profit margins?

Low-cost Chinese goods distort the CPI, then you go ahead and do it
again.

If you'd like to give us the real figures, I'm all ears.

The cost was X dollars per barrel. Dollar was a dollar. Adjustments are a
fantasy based on conditions which did not pertain at the time. Of course,
liars do figure ... when the outcome suits 'em.

Now the cost of a barrel of oil adjusted for 1897 dollars was ...
meaningless!
..