Since peak is right now, we’re ~14.5X per capita income.
Correcting to historical multiplier (7-9) adjusted for 5% inflation will put it at even to 20% below current prices come 2016. An average multiplier of 8 puts it almost exactly at 10% below current prices.
If inflation is 4%, it’ll be more like 8% to 28% below current prices.
And at a 3% it’s more like 17-35% below current prices.
Those are nominal prices too. So a $500K today in the best case is $500K in 2016. However at 5% annual inflation, your $3/gallon gas will be $5/gallon.
