Wednesday, Nov 18, 2009

Energy prices don't need to rise that much before a fragile consumer-led economy could face another

Cnn: Forget $100 oil $80 oil is a problem

This year's runup pales in comparison to the one that peaked last summer above $145 a barrel. Even so, some researchers warn we could once again be approaching the point at which rising energy costs will squeeze consumers.
That could complicate recovery in an economy that, despite the tumult of the past two years, remains as consumer-driven as ever.
"If you had to ask me what is the safe driving speed, I'd say $80 a barrel," said Steven Kopits, managing director at energy market forecaster Douglas-Westwood in New York. "We have bigger problems right now, but we shouldn't forget we're still vulnerable to rising oil prices."

Posted by mark @ 01:08 PM (846 views)
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3 Comments

1. alan said...

No surprise, the dollar is buying less, and there are stories of oil stockpiling.

Gold has been over $1145 for the last couple of hours....and my spam box is full of offers to buy my broken gold watch chain and coins.

Maybe we should invest in assets while there is still time........err.....I know........ lets buy a house!

Wednesday, November 18, 2009 01:34PM Report Comment
 

2. mark said...

Viagra is probably a better investment, after gordons lot have finished with this country no-one will be in a fit state without it..lol

Wednesday, November 18, 2009 02:03PM Report Comment
 

3. Rich Kightley said...

I can't wait for the Hedge Funds and speculators to be wiped out by another "flush" of natures waste disposal unit!

House=pile of clay bricks tied together by a roof with clay tiles on it for shelter=£200,000? No way and its.."flush".

Petrol=$100 a barrel in a massive depression. Didn't you do Maths? Those 6 supertankers waiting of our coast for the price to rise can stay there...plenty of water to.. "flush!"

Gold= price will rocket until the music stops and for those left holding it, its...Flush! Down the tubes.

The rich, banks, the hedge fund men are all coming down towards my wealth level of £0.00. Most gratifying! I do a REAL job in I.T..

Wednesday, November 18, 2009 11:53PM Report Comment
 

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