Matt,
Gotcha - I reread your posts with that in mind, and see what you mean
Quote:
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Another ecomodder agreed in this thread that OPEC is only trying to stabilize barrel price and I responded that $2.50-3.50 a gallon is disturbing if that's what stable means.
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$2.50+ is likely where "stable" is (whatever stable means)... Only recently (past few years) has the actual inflation adjusted value gone up significantly. At today's prices ($2.668 - not reflected in the plot below), adjusted to 1979 dollars - that's $0.84 cents per gallon.... Which is only 20 cents (1979 $) higher than what we paid for about 15 years (1986ish through 2003). {20 cents is worth 63 cents in 2008}
Why did it go up the past three years - only to almost completely return to status quo? Interpret at will