How does this oil crisis compare to 1979?

New Oil Crisis: 1979 In Spades
Dan Ackman, 08.20.04, 8:40 AM ET

NEW YORK – With crude oil prices nearing $49 a barrel and rising, the real (adjusted for inflation) price of oil is still not as high as it was in the early 1980s. But it’s getting close, and, in some ways, the situation is a lot worse.

Forbes.com