In the Inflationary Obama World, Oil Is Very Expensive

from Daily Pundit by Bill Quick:

In the Inflationary Obama World, Oil Is Very Expensive:
Guest Post: What Peak Oil? | ZeroHedge

Priced in gold, oil is still very cheap — almost as cheap as it has ever been:

In the inflation-adjusted real world, however, it is not.

The track record for Malthusians and Peak Oilers certainly have been miserable. I see no reason for it to have suddenly improved just as demand for oil has dropped due to depression.