By Richard E Walrath

Bad news for Amurka.  Higher oil prices just in time for the winter heating season.  Adjusted for inflation, oil is still cheap.  A barrel of oil that cost $38 in 1980 would now bring $96 – $101 or more today.  But it’s still on its way up.  China is going to be using more, not less.  I think we’ll see $100 oil before the next year is out.

Adjusted for inflation doesn’t mean much to most people.  They understand that inflation means they pay more, but that’s about all they know.