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Could High Gas Prices Cut GDP to 1%? You Bet
Ross Devol, The Atlantic
Rising oil and gasoline prices are once again threatening the U.S. economic recovery. It is no surprise that the root cause is geopolitical turmoil in the Middle East - this time related to Iran's nuclear ambitions and potential disruptions in oil supplyAt this point, it is the threat of Iranian oil supplies being removed from the market that is pushing prices higher. Saber rattling by Iran is contributing to the speculative price spike, perhaps a key strategy to maximize its oil revenue even with weaker volumes. West Texas Intermediate (WTI, the leading benchmark in U.S. oil...
Rising oil and gasoline prices are once again threatening the U.S. economic recovery. It is no surprise that the root cause is geopolitical turmoil in the Middle East - this time related to Iran's nuclear ambitions and potential disruptions in oil supplyAt this point, it is the threat of Iranian oil supplies being removed from the market that is pushing prices higher. Saber rattling by Iran is contributing to the speculative price spike, perhaps a key strategy to maximize its oil revenue even with weaker volumes. West Texas Intermediate (WTI, the leading benchmark in U.S. oil...
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