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Here we present the results of the April 13 ASI E-News survey.
A recent FinancialTimes.com article suggested that the price of oil will soon top $100/barrel in response to growing confidence in global economic recovery. However, experts warn that higher oil prices will actually stifle economic recovery. Will an increase in the price of crude ruin worldwide economic recovery?
“People and businesses adjust according to the external forces affecting their bottom line. Using the price of oil is just an excuse. The price is always relative. It is higher today than, say, the '70s, yet we experienced growth.”
“The global economy is in a real MESS! Look at Iceland, or Greece, and especially look at the U.S. Higher oil prices (translation higher gasoline prices, etc.) will come at a time when inflation is also heating up, with the threat of increasing interest rates, etc. The global economy is in BIG TROUBLE, with no hint of a viable solution anywhere in sight!!”
“Absolutely. We saw tremendous price increases the last time oil went over $100/barrell!”
“`Ruin’ is too strong of a word. It will shave 1% from what global growth might have been at $70/barrel.”