Originally Posted by
tone
Maybe I watch too much tv, but I think if it goes above $150 a barrel, we'll have more to worry about than our airline jobs, we may be rioting for blankets and firewood for our families

I dunno. The economy has been incredibly resilient towards oil prices. In 2002, when a barrel of oil still went for about $22, any economist would have probably said that there would be chaos if the price of oil increased 5 fold in 5 years. Well, here we are, things are relatively normal still. One thing that I don't totally understand is that when oil was trading at $22 and below, fuel was about $1.15/gallon, but oil has increased in cost by almost 5 times, but fuel has only increased by 3 times, but now is when Exxon is making record profits, not back then. Hmmm??