It's stupid. I'm fact, in today's dollars, oil is FASr cheaper, even at $100 than it was 20 years ago.
Am I really supposed to believe that oil at $65 today is the same price as $65 on n 2008? Of course not. $65 oil today is much cheaper than then.
It's always the dollars....
2008 was the first time it hit $100. That's $153 based on official CPI numbers.
WTI has never hit $153.
Yup. While there is certainly a trend higher over the years, we are way below the overall inflation trend. Mostly due to heavy price demand for new exploration and deeper wells. At $40 they won't frack, at $100 they will frack everywhere.
