Higher Oil Prices Would Hamper Global Economy

Just as the U.S. and global economies are finally strengthening, they face a new danger: Rocketing oil prices, which topped $100 a barrel Wednesday.

The U.S. economy can likely absorb $100 oil and keep expanding, even though gasoline prices would rise further and growth would slow. But it would hurt.

Read Associated Press article at NPR: http://www.npr.org/templates/story/story.php?storyId=134005409

Tagged as: economic downturn, global economy, Inflation, Oil prices, Recession, rising oil prices, Unemployment, US economic recovery, US economy