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Green Ink: Crude Adjustment for the Economy

Posted on July 02, 2008

Crude oil jumped to a new record above $143 on fears the Iranian nuclear disupte could disrupt production, Bloomberg reports. More than supply-and-demand, the oil market keeps an eye on interest rates these days, especially in the U.S. and Europe, reports the WSJ (sub reqd.). So is there any relief in sight? asks Barrons. There should be, if past cycles are any judge, say some economists.High oil prices are forcing a rethink of the entire just-in-time U.S. economy, the WSJ (sub reqd.) notes; The whole economy is shellshocked like a guy who bought an SUV when gas was at $2 a gallon, the paper s...

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