Here we are...
I'll admit, I've been feeling a lot of anxiety lately.
It's only April and the lowest grade of gasoline is already in the $2.60ish range. Just think how much higher it could get come Labor Day.
Maybe I'm viewing things too simplistically, but think of it this way:
As the price of oil rises (because the growth in demand is outpacing any growth in production), the price of everything rises, including transportation fuel, food, and countless petroleum-based products. As things become more expensive, people have less money to save and invest. This hurts U.S. companies who also have to pay more for supplies just like everyone else. More companies struggle to survive and more fail. This means higher unemployment, so there are fewer people who can afford to pay the higher prices for everything.
And it goes on and on...
It's only April and the lowest grade of gasoline is already in the $2.60ish range. Just think how much higher it could get come Labor Day.
Maybe I'm viewing things too simplistically, but think of it this way:
As the price of oil rises (because the growth in demand is outpacing any growth in production), the price of everything rises, including transportation fuel, food, and countless petroleum-based products. As things become more expensive, people have less money to save and invest. This hurts U.S. companies who also have to pay more for supplies just like everyone else. More companies struggle to survive and more fail. This means higher unemployment, so there are fewer people who can afford to pay the higher prices for everything.
And it goes on and on...
posted by Utah Peaknik at 2:22 PM
1 Comments:
Great blog. You have been linked.
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