In terms of 1972 money, oil prices averaged about six dollars a barrel between 1987 and 2000. Last October they reached $40. They are now around $50 a barrel which means that they are beginning to climb back into the territory which caused the global economy to crash in 1979/80.

Landowners & Cement Producers Gain, Homebuyers & Taxpayers Suffer. By Richard Douthwaite