Topic: Edward Yardeni
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In recent weeks, the price of a barrel of oil has stayed at about $100 a barrel, and gasoline prices have been edging closer to $4 a gallon. The costs are apparently due to events half a world away, in the Middle East. Even though plenty of oil is around, there is fear of further disruptions, and consumers, business people, and politicians have all been making adjustments. Here are eight ways that higher energy prices are starting to affect America.
German Chancellor Angela Merkel Merkel pushed to get the German parliament to approve last month's nearly $1 trillion bailout for Greece. Some economists argue that it would have been cheaper to let Greece default and then bailout European bank bondholders.
Oil-pipeline routes, market leverage make struggle a 'battle for energy.'