WSJ.com: Oil’s Rapid Rise Stirs Talk of $200 a Barrel This Year
Oil’s Rapid Rise Stirs Talk of $200 a Barrel This Year - WSJ.com
In the U.S., $200 crude would push the price of gasoline to well over $6 a gallon, causing commuters to alter their driving habits more sharply than they have already, while putting extreme strains on large sectors of the U.S. economy. In Europe, it would stir more political unrest and increase the clamor to cut the continent’s stiff petrol taxes. In Asia, governments would be under pressure to cut fuel subsidies and risk a popular backlash.
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