{"id":37336,"date":"2018-09-04T07:38:27","date_gmt":"2018-09-04T12:38:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37336"},"modified":"2018-09-04T07:38:27","modified_gmt":"2018-09-04T12:38:27","slug":"oil-prices-have-been-rising-and-4-a-gallon-gasoline-would-put-enormous-stress-on-the-u-s-economy","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37336","title":{"rendered":"Oil Prices Have Been Rising And $4 A Gallon Gasoline Would Put Enormous Stress On The U.S. Economy"},"content":{"rendered":"
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Oil Prices Have Been Rising And $4 A Gallon Gasoline Would Put Enormous Stress On The U.S. Economy<\/a><\/h3>\n<\/header>\n
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\"\"<\/a>Thanks to increasing demand and upcoming U.S. sanctions against Iran, oil prices have been rising and some analysts are forecasting that they will surge even higher in the months ahead.\u00a0 Unfortunately, that would be very bad news for the U.S. economy at a time when concerns about a major economic downturn<\/a> have already been percolating.\u00a0 In recent years, extremely low gasoline prices have been one of the factors that have contributed to a period of relative economic stability in the United States.\u00a0 Because our country is so spread out, we import such a high percentage of our goods, and we are so dependent on foreign oil, our economy is particularly vulnerable to gasoline price shocks.\u00a0 Anyone that lived in the U.S. during the early 1970s can attest to that.\u00a0 If the average price of gasoline rises to $4 a gallon by the end of 2018 that will be really bad news, and if the average price of gasoline were to hit $5 a gallon that would be catastrophic for the economy.<\/p>\n

Very early on Tuesday, the price of U.S. oil surged past $70 a barrel in anticipation of the approaching hurricane along the Gulf Coast.\u00a0 The following comes from Fox Business<\/a>\u2026<\/p>\n

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U.S. oil prices rose on Tuesday, breaking past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane.<\/p>\n

U.S. West Texas Intermediate (WTI) crude futures were at $70.05 per barrel at 0353 GMT, up 25 cents, or 0.4 percent from their last settlement.<\/p>\n<\/blockquote>\n

If we stay at about $70 a gallon, that isn\u2019t going to be much of a problem.<\/p>\n

But some analysts are now speaking of \u201can impending supply crunch\u201d, and that is a very troubling sign.\u00a0 For example, just check out what Stephen Brennock is saying<\/a>\u2026<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil Prices Have Been Rising And $4 A Gallon Gasoline Would Put Enormous Stress On The U.S. Economy Thanks to increasing demand and upcoming U.S. sanctions against Iran, oil prices have been rising and some analysts are forecasting that they will surge even higher in the months ahead.\u00a0 Unfortunately, that would be very bad news […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[181,2310,246,6061,312,5595,366,2240,383,4901,592,594,1264,1138,753,7452,10944,8791,10945],"class_list":["post-37336","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-crisis","tag-depression","tag-economy","tag-financial","tag-financial-crisis","tag-gasoline-prices","tag-global-economy","tag-global-financial-crisis","tag-great-depression","tag-michael-snyder","tag-oil-price","tag-oil-prices","tag-recession","tag-stock-market","tag-stocks","tag-the-economic-collapse-blog","tag-the-price-of-oil","tag-the-u-s-economy","tag-u-s-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37336"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37336\/revisions"}],"predecessor-version":[{"id":37337,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37336\/revisions\/37337"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}