Strangely enough Oil priced in gold is unchanged over 65 years.
Here is the year and the Barrels of Oil one ounce of gold buys:
1947 16.07
1972 16.23
1980 16.44
1990 16.54
1997 17.76
1999 16.85
2010 17.20
Today 16.40
Oil’s not goimg up, the dollar is going down; nothing puzzling here.
You make an excellent point, sir.