Word: consumerized
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Even with all the damage, the real squeeze on the consumer's wallet may not be felt until winter when natural gas prices are certain to be higher, since U.S. utilities rely on natural gas for 16-18 percent of their fuel for electricity generation. Then there's oil. After...
For the most part, globalization is a blessing for the world economy. But for a world that relies too much on U.S. consumption, it faces grave risk if that growth engine gets derailed. Such is the case with the energy shock of 2005. If the over-extended American consumer gets...
More pressing for China and the region: the impact of oil on the world's most powerful economy, the U.S. Like China, America has absorbed the rising price of crude with surprising ease so far. But $70, if that's where prices stick, is a different story. It's already...
Now multiply that scenario across the thousands of European businesses dependent on crude oil, which hit a record $68 per bbl. last week and is up over 40% in the past six months. The result should be an inflationary spiral like the one that followed the oil shock of the...
Not everyone is so relaxed. "We are running dangerously short of oxygen," warns Roger King, chief executive of Britain's Road Haulage Association, which is lobbying the government for a fuel-tax break for truckers. European motorists and airline passengers are also feeling the effect. Moreover, at least some economies...