Not much to smile about, but it is an excellent lesson…
Is $100 Oil as Lethal as It Looks?
A terrific piece that puts the record increase in oil prices in a broader economic perspective. Coy is correct to emphasize that a housing downturn would be a much more serious problem for the US economy than oil at a $100 a barrel. He cites one survey that says for most American drivers, the rising cost of oil isn’t a problem until price at the pump hits $3.50 a gallon. Coy also notes that [...]
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