Only six weeks ago, The New York Times tried to minimize its "relentless rise in recent years", noting that "oil prices rose to an all-time record during the day... then pulled back to close below the record." That is how they tell the bad news to the American public: Make it sound pretty bad, but then get that warm, cozy feeling that soon all will be all right. Except, this time it will not. Six weeks ago! What a difference a month and a half makes. Now oil is at $117 a barrel. Who would have guessed. Note the "...Then Recede" in the New York Times headline, six weeks ago. Sorry, editors. It did not really recede, you just made that up. You lied. NYT: Oil Prices Pass Record Set in ’80s, but Then Recede The day’s highest trade, of $103.95 a barrel on the New York Mercantile Exchange, broke the record set in April 1980 during the second oil shock. That price, $39.50 a barrel, equals $103.76 in today’s money when adjusted for inflation. Oil closed Monday a...