Any economics majors on the CNN editorial staff?

An article on CNN today entitled “Oil prices hit all-time high” made me blow my top. Oil prices hit their modern-era all-time high in 1979 when, adjusted to 2007 dollars,  the price per barrel crossed the $100 mark. While today’s $78.23 number is nothing to sneeze at, it’s a far cry from the “all-time high”.

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