Open shift to the Euro would further lock-in higher oil prices

The US economy attained it highest-ever postwar annual growth of real GDP, achieving what today would be the impossible all-year rate of 7.5%, in the Reagan re-election year of 1984.

At the time, in dollars of 2004 corrected for inflation and purchasing power parity, the oil price range for daily traded volume crudes was about US$55-68/barrel.

Today, with oil prices that show extreme volatility –