$200 Bucks A Barrel Would Alter Life For More Than A Few Of Us
No more vacations as Americans discover 'staycations' or staying at home. People who commute long distances to work might find it more cost effective to just quit their jobs, or retire earlier. Businesses would close in droves, as consumers find they have no extra money to buy anything except the very basics.
That's just a taste of life on $200 bucks a barrel. Not gonna happen, you say?
Oil closed at $140 dollars a barrel on Friday, and it only took a six months to get there from the once magic-$100 a barrel mark which was achieved on January 2 of this year. Analysts believe that $200 a barrel is not unrealistic, and maybe very likely. That would translate to $7 dollars a gallon for gasoline, and a whopping change in most American's lifestyle. Writer Martin Zimmerman, lays out this cheery scenario in this LA Times piece.




















































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