Does any one else feel that the price of oil is helping to put us in a recession?

It just kinda seems that with the price of oil and gas being so high, the economy is going down. I don't think this is the only reason but just one of the factors!Does any one else feel that the price of oil is helping to put us in a recession?
Yes the price of gas in New York is up to 3.79 a gallon where i live.Does any one else feel that the price of oil is helping to put us in a recession?
Have you been watching CNN or Headline News?
yes i tottally agree with that i actually think that it the main cause
Yes the price of gas being so high has a major rippling effect on the economy. If you take the average person, who has to purchase gas, because the price has increased so much, they are likely to cut back somewhere else. They will cut back on some sort of luxury, not necessity. Example, if gas was getting to the point that I couldn't afford it, I might stop eating out. Now, if a lot of people are like me and stop eating out, servers are going to see a decrease in pay. If their salary goes down, they may stop getting their hair done. and so on, and so on.
yes economy is goin down im sure
It is a big factor pushing the economy down, and you are correct in that it is not the only factor. Oil prices tend to be cyclical, having several years of high prices followed by several years of low prices. It was only about 6 years ago the price was around $25 a barrel.
Yes, I do. It makes shipping everything else more expensive as well. It is a vicious circle.
Yes, the price of oil is helping put America into recession.





It will increase prices and take resources away from other things.





However, the real problem, even more then the oil, is the United States Dollar. The dollar has dropped 1/3rd of its value. So to American consumers things will become 1/3rd dearer to import.





Oil price is the thing that has immediate impact when the United States Dollar drops. Because a barrel of oil is quoted against the USD (ie $USD100/barrel) when the USD becomes weaker, you need more USD's to get the same amount of oil.





Europe, Australia and Japan have not experienced the dramatic fuel price rises the USA has because their currencies have strengthened against the United States Dollars.





So buying more USD's with the same Euros can offset a significant amount of the fuel price rise for Europeans.
Yes, its the problem!!! Our whole economy revolves around it. Oil is in plastics, fertilizers to grow food, clothing...on and on. I dont know when Americans are going to wake up...maybe $5 a gallon, maybe $8 a gallon?? Maybe never as long as they can charge it


Heres another problem- personal debt. It started with cars. First, eveyone bought cars they couldnt afford and stretched the payments out for 5 or 6 years. Then came houses with the ARMs, and interest only loans. Now the reckoning day has arrived and the spoiled people cant cut back and do with out. Try telling some suburban soccer mom to give up her SUV!!
You don't even know the half of it.





Watch Zeitgeist!
Its certainly contributing to it, yes.
no because it's not. the price of oil is making a lot of people a lot of money.
Think of all the crazy technology we have. I am typing to you from probably a long ways away, but yet we cant make cheap cars that dont run on gas? Okay there's hydrogen and a few others, but its not common. I know they're working on it but c'mon.
DUH.





Price of energy (oil) jumps and it ripples thru the economy.





DUH.
Yep!! If everyone bought bicycles, would the price of air go up???? LOL LOL