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August 25, 1996 | JAMES FLANIGAN
Oil prices jumped to high levels last week--to more than $22 a barrel, $5 more than a year ago--persuading some that the spiraling energy costs of the 1970s were coming back. "Your Key Word: Oil" headlined Grant's Interest Rate Observer, a financial newsletter that has long predicted a return of inflation. Arguing for rising prices, some experts say, are skimpy U.S. inventories of heating oil and gasoline, growing world oil and natural gas consumption--and extravagant U.S.
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BUSINESS
August 25, 1996 | JAMES FLANIGAN
Oil prices jumped to high levels last week--to more than $22 a barrel, $5 more than a year ago--persuading some that the spiraling energy costs of the 1970s were coming back. "Your Key Word: Oil" headlined Grant's Interest Rate Observer, a financial newsletter that has long predicted a return of inflation. Arguing for rising prices, some experts say, are skimpy U.S. inventories of heating oil and gasoline, growing world oil and natural gas consumption--and extravagant U.S.
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