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PaulS's picture

another recession looming?

"Oil hit an 18-month high of $86.70 a barrel in New York yesterday, adding to expectations that petrol prices will today pass the record levels of the summer of 2008.

Crude oil for May delivery was at its highest level since the peak of the financial crisis in October 2008 as a raft of statistics boosted confidence in the American economy. The price has been rising steadily since early February, when it stood at about $72, amid hopes that strong economic data from Asia and signs of recovery in the United States would trigger demand."

What a surprise!
Slight recovery uses more energy needs more oil but oil is depleting so price increases. The only question is at what point does that increase kill the recovery off.

Ever wondered how we are going to repay the national debt without a recovery? Probably impossible. Hang on to your hats or better still, get a wind turbine!
Another stock market crash looming. I wonder how the world financial system will survive this time.

full article here: http://business.timesonline.co.uk/tol/business/industry_sectors/natural_...