
Fueled by strong demand, worries about supplies and the eroding purchasing power of the dollar, crude oil prices continued to close in on the $100 a barrel mark Wednesday — up $35 in just the past six months.
With oil prices advancing so rapidly, the immediate unknown is where they will stop before taking a breather. But the longer-term question may be even tougher to answer: How high can oil prices go before the higher cost of energy tips the U.S. economy into recession?
Yeah, and it "threatened" my wallet today when I gassed up....
Seems like the days of cheap energy are well and truely over!
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