European Tribune - Comments - Countdown to $100 oil (26)

Countdown to $100 oil (26) - Time to bet again | 21 comments (21 topical, editorial, 0 hidden)

Re: Countdown to $100 oil (26) - Time to bet again (none / 0)

It's all nominal prices.
The difficulty is to choose what inflation index you use to reflate older prices. CPI? Industrial prices? Export price inflation? These bring out pretty different results (I thought I had a graph with each of these, but I can't find it right now). Depending on the index chosen, the 1979 peak was at 60-100 in today's dollars.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Wed Apr 19th, 2006 at 08:10:26 AM EST
[ Parent ]

Re: Countdown to $100 oil (26) - Time to bet again (none / 0)

Thanks! This explains how different people are claiming different current $ prices for the 1970s peak.

The road of excess leads to the palace of wisdom - William Blake

by talos (mihalis at gmail dot com) on Wed Apr 19th, 2006 at 08:17:18 AM EST
[ Parent ]

Re: Countdown to $100 oil (26) - Time to bet again (none / 0)

Note: the inflation-corrected peak wasn't in the seventies, it was April 1980. WTI was then $39.5; if using CPI for inflation correction, then that is equivalent to $97.43 in March 2006 prices.

_{*Lunatic*, n.

One whose delusions are out of fashion.}

by DoDo on Thu Apr 20th, 2006 at 10:51:35 AM EST
[ Parent ]

Countdown to $100 oil (26) - Time to bet again | 21 comments (21 topical, 0 editorial, 0 hidden)

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