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.
With the price of energy soaring – oil passed $100 per barrel on Tuesday – long-haul truckers are hurting, but hybrid manufacturers are smiling. Californians feel the pinch at the pump while Midwesterners, closer to large fuel inventories, wonder what all the fuss is about. With gasoline now at $3.37 per gallon – 20 cents higher than last week, and rising daily – who is profiting from higher prices and who is not?
Darth Vader VW Passat commercial got the most Super Bowl buzz. Eminem generated the most sales inquiries, auto website says.
Foreclosures have been huge in cities that rode the real estate bubble in the West and in Florida. But the fastest rise in foreclosures is taking place primarily in far less frothy metropolitan areas of the Southeast, according to a new report by RealtyTrac. North Carolina alone was home to four of the Top 10 fastest-rising foreclosure metros last year. While their foreclosure rates are still quite low compared with most places, these metros and their plight illustrate how the poor economy is driving the housing crisis now.
Taco Bell meat has too little beef to be called beef, a lawsuit charges. 'Absolutely wrong,' the fast-food chain says of the suit.
The cost of a new car or airfare is expensive this holiday season. But consumers can get a good deal on flat-screen TVs.
Medical marijuana patient Roger Lingle sniffs a starter plant he bought at the Canna Pi medical marijuana dispensary in Seattle, Washington, Nov. 20, 2012. Washington State's Initiative 502, that was approved by voters in the Nov. 6, 2012 general election, legalized marijuana in Washington State, effective Dec. 6, 2012. Marijuana remains illegal at the federal level.
Home prices edged higher at the height of the summer home-buying season, but analysts see a dropoff in the fall.
Unemployment lasts longer than ever before, home values keep declining, foreclosures abound and people are growing poorer. This is the rebound?
Foreclosures are being managed by banks like a pipeline, says RealtyTrac, which has implications for homeowners and home buyers.