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The "running out of oil" myth, and the inside story on illegal immigration
Renew America ^
| September 4, 2006
| Wes Vernon
Posted on 09/05/2006 7:05:37 AM PDT by seasoned traditionalist
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To: raybbr
Go here. From 1976 to 2004 the price index averages to 3.32. I don't think the last two years could have skewed the index much.If you follow the link from the NASA site to the BLS data tables, you find that they calculate the inflation rate in 1976 at 5.8%. I don't know how CPI inflation might differ from other methods of calculating inflation, but something is amiss in the numbers.
61
posted on
09/06/2006 5:19:15 AM PDT
by
The_Victor
(If all I want is a warm feeling, I should just wet my pants.)
To: raybbr
I don't know how CPI inflation might differ from other methods of calculating inflation, I found it. CPI numbers distincly leave out the price of oil when calculating inflation. I think that would make all of the CPI based inflation calculators invalid for calculating the price of oil.
You'll have to go to the link, I can't reproduce the chart in a hot link but inflation adjust price for a barrel of oil at it's peak in Dec 1979 was $100.52.
Inflation adjusted oil prices ($ per barrel)
62
posted on
09/06/2006 5:41:53 AM PDT
by
The_Victor
(If all I want is a warm feeling, I should just wet my pants.)
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