$200 Oil: Should We Be Alarmed?
Do you think we should be alarmed as the price of oil rises above $120 (Brent), possibly on its way to $200 or higher? Will it wreak havoc on our economy?
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Yes, we should be alarmed. Not only will this impact our daily driving habits, but also the cost of food and goods. As oil nears higher prices, food will increase due to the cost of transportation. Goods as well, due to the cost of transportation. Energy cost will increase, due to the increase in fuel, and the increase of maintaining gas for their fleet of service vehicles. Taxis, bus routes, air flights will all see an increase in price.
$200/oil will translate into roughly $9 or higher/gal of gas, and potentially more as they raise the price to attempt to put a curb to hoarding and panic buying of fuel.
Yes, we absolutely should be. Crude oil pricing will be the key factor which will drive the country into a phase of hyper-inflation. More than 70% of all freight in this country moves by diesel truck over the interstate highways. Diesel fuel prices have risen at a steeper rate than that of gasoline. That additional cost will be passed on to shippers by the trucking industry at a rate that will lag the market price of fuel. Retailers will see higher item prices which will cover the cost to the manufacturer/shipper and of course the guy at the bottom of the stack as usual is the consumer who will inevitably suffer the price. Crude oil has made so many rich and eventually it will make far more poor. WB
though it will hurt the economy, it might also force people to live cleaner, less polluting lives. it may also cause the use of greener energy. i hope the price of fuel skyrockets because i'm sick of how dependant we have become on it. no country compares to the U.S. dependancy on fuel, but Canadians are bad enough as it is.
Of course. We should have been drilling like crazy 10 years ago. If we had, this would not be happening. However, it's never too late to start.
As to "forcing people to live cleaner lives", that's pure rot. Economic recession always brings on MUCH more pollution, as people seek the cheap and dirty ways to get stuff done.
by joshhunt83 7 years ago
At what price would you stop buying fuel for your car?
by Susan Keeping 6 years ago
Does politics really influence gas prices?It seems many people want to blame their country's politicians for high gas prices, in particular Barak Obama even though gas prices were higher at points in the 80s. Can politicians really do something about prices?
by Suzanne Levac 7 years ago
I just heard that it is very probable that the gas will go up to $5.00 a gallon in the near...future in the United States; do you think it will happen? And why is it going up that much?
by scottie g 5 years ago
Do you think real estate prices in your market will be higher or lower in 1 year?Please include your area of the country or closest major city
by Lgali 9 years ago
Oil Prices Going up Means Economy is Doing Good..
by karl 5 years ago
How do oil prices affect you?My transport costs have risen by £47 ($77.99) over the last 6 months this has put a strain on my personal budget how does it affect you?
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