The U.S. Economy is as Vulnerable as Ever to an Oil-Shock - 2005-03-12
With oil prices trading above $50 per barrel, forming a base upon which future price increases will likely be built, there is no shortage of Pollyannas willing to dismiss the toll higher oil prices will exact on the U.S. economy.
The most recent of these is The Wall Street Journal columnist Thaddeus Herrick, who in his March 8th article entitled "Retooling Keeps Economy Growing despite Steep Increases in Oil Prices" suggests that even sustained oil prices of $70 per barrel would not push the U.S. economy into recession.
Read the full story at HoweStreet.com 
