Are higher oil prices just inflation catching up with us?

Are higher oil prices just inflation catching up with us? The link shows a graph of the oil price adjusted for inflationinflationdata.com... l/Historical_Oil_Prices_Chart.htm

As you can see adjusted monthly average oil price for december 1979 is over $100 dollars a barrel. What do you guys think should we still be concerned?

We should always be concerned. Inflation or no, we are addicted to a foriegn resource that sends us to war often.

I doubt its inflation catching up. Its all about control.

Er... correct me if I'm wrong, but wasn't 1979 the tail end of the last really big oil shock?

doesn't matter oil ain't going to run out any time soon. oil price is plummeting at the moment. It's down around $60 USD a barrel. So you all can keep funding putin and his gang with all your hummers and ferraries. Of course I am yet to reach the legal driving age but when i do i aint driving no smart car and i won't be rushing to install windmills and solar panels either.

There's really no need to panick and the only danger is that opec decides to play hardball but even then if prices go so high that no one can afford oil they won't make a profit. oil isn't going to run out for many generations and by the time it does we will have probably destroyed ourselves some other way.