30 Nov '11, 4pm

Countdown to $100 oil - high energy prices suppressing growth?

RockMan, To be honest I've been surprised that the global economy has not yet sagged under the recent price spike but believe the impact is working its way through the system and that a European recession at least is likely unavoidable now. USA seems to be in better shape, maybe you guys are better at Capitalism - but maybe your cheaper nat gas prices are helping too. Of course the powers at be are doing all they can to avert the disaster of a double dip. You are correct to point out multiple causes for any recession - two successive quarters of negative GDP growth in the UK. It may be argued that I don't have a lot new to say in this post - and that's true, but one reason to keep the series going is to hammer a message home. And it is encouraging for me at least to note now that our Finance Minister recognises high energy prices as an important factor in holding back that...

Full article: http://www.theoildrum.com/node/8645

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