Oil Prices Still Significantly Lower than Carter Years

As oil prices spike upwards again, it is important to remember just how bad things got under the watchful eye of the president that Castro loves: Jimmy "the Peanut" Carter.

This chart is from the Chart of the Day, which notes:

One point of interest is that oil is trading near 26-year highs but still below the inflation-adjusted highs of 1980. It is also interesting to note that most oil price spikes were a result of Middle East crises and often preceded or coincided with a US recession.

Cop holding missle launcher

 

Remember this next month when Carter comes out and endorses Edwards for president. Or will it be Hillary? No one can really predict what nonsense will next issue forth from Carter’s mouth.

Posted September 28th, 2007 Filed in Energy