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[ot] Crude Oil about 1/2 of what it was in 1980

[ot] Crude Oil about 1/2 of what it was in 1980 - Physics Forum

[ot] Crude Oil about 1/2 of what it was in 1980 - Physics Forum. Discuss and ask physics questions, kinematics and other physics problems.


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Old 05-14-2004, 09:53 PM
Everything Jute !
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Default [ot] Crude Oil about 1/2 of what it was in 1980



Allowing for inflation, prices are about half those during the oil price
shock that followed the 1979 Iranian revolution. Crude averaged $78 a
barrel during 1980 when adjusted for inflation to 2002 prices, according
to oil major BP (BP.L: Quote, Profile, Research) . Crude in money of the
day averaged $35.69 a barrel in 1980, BP said.

"Apparently $40 crude isn't such a big deal after all, because no one
seems to care in terms of consumption," said Katherine Spector, analyst
at JP Morgan in New York.

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Old 05-14-2004, 10:34 PM
T. Relyea
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Default [ot] Crude Oil about 1/2 of what it was in 1980

Everything Jute ! wrote:


They can paint it any way they want, but the oil companies are gouging the
public at the pumps.

Todd
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