Word: petrochemicalsâ
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...runaway price rises will fan inflation in the U.S., Western Europe and Japan. Affected are not only the price of gasoline and heating oil but also the cost of thousands of products made from petrochemicals???goods ranging from fertilizers and laundry detergents to panty hose and phonograph records. Oil price hikes will bear on apartment rents and the price of food brought to stores by gasoline-burning trucks. The price boosts act as a kind of gigantic tax, siphoning from the pockets of consumers money that would otherwise be used to buy non-oil goods and services, thus depressing production...
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