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Oil: Inflation adjusted

Posted By Barry Ritholtz On August 18, 2004 @ 6:37 am In Finance | Comments Disabled

Here’s a terrific chart from our friends over at Chart of the Day [1].

oil_infl_adj_20040818

When you adjust the price of oil (and thus, gasoline) for inflation, relative to the past its merely more expensive than it was — but not outrageously so. Indeed, energy now consumes about 2-3% of GDP, down from 15% (if memory serves me) 30 years ago.


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[1] Chart of the Day: http://www.chartoftheday.com/

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