Qatar says oil prices should top 100 dollars

This is a very insightful article into the economic mind of a Middle Eastern oilman - - not so much as to the target for oil, but that he has given us two coefficients by which we can plot a standard by which they measure our dollars' worth in relationship to commodities......such as GOLD. Figuring that Abdullah Al-Attiyah says oil should be over $100 right now, and with a $21 benchmark 1972 price (chart). We used Tom's Inflation Calculator to come up with a price of $104.52. The first chart tells us that to achieve an inflation-adjusted oil price from 1980, we should commensurately have a gold price of over $1,600. That would barely give us a return to an average Gold/Oil Ratio of 16, about average for the number of barrels that can be purchased for an ounce of gold (2nd chart). But these charts are two years old, so figure your own projections on Tom's Calculator. Right now we're at a Ratio of 9.25 ($740/$80). (article)