Word: impaction
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...China goes, so goes much of Asia, because the mainland's booming demand is critical for regional industries as diverse as Malaysian palm oil, Korean steel and Japanese high-definition TVs. Optimists point out that the impact of the oil-price spike may be softened by the fact that coal, not oil, generates most of China's electricity, somewhat shielding its factories from the effect of rising oil prices. The government also limits the impact of rising fuel costs by dictating the price of gasoline and diesel at the wholesale level each month. Wholesale gas prices in China are currently...
...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 clear, at least anecdotally, that the oil virus is finally beginning to have an impact on spending by U.S. consumers, who drive much of the world's demand. Wal-Mart, for example, has warned that its profits are already getting hit by high gasoline prices. And the retail giant...
...plans to levy steep taxes on gas-guzzling cars and SUVs. The new taxes could add as much as 27% to sticker prices. As one of the world's growing gas hogs, China's conservation efforts matter enormously. But it will take time for such measures to have much impact?and until they do, China's neighbors may simply have to get used to oil at almost $70 a barrel. It's a painful prospect...
...longer oil prices continue to climb, the greater the inflationary pressures will become. Rodrigo de Rato, the IMF's managing director, said last week that if high oil prices persist, "the impact on Asian growth will be considerable." Degussa's Wagner also warns that his forecast of continued profit growth depends on the stabilizing of raw-material prices. "There's tremendous uncertainty," says Deutsche Bank's Wall. For the moment, though, Europe's business executives, policymakers and central bankers are sitting tight, hoping their luck isn't about to change...
...Orleans Hurricane Impact Study Area