Oil Is Around $91 A Barrel, Here’s How It Effects Us

Posted By on December 23, 2010

The recent jump in crude to around the $91 area has wiped out virtually the entire benefit from the just passed payroll tax “stimulus”.  That’s just oil mind you, we haven’t even talked about the food inflation yet.
 
For every cent rise in gasoline,  the country loses $600 million in consumer buying power…….
 
And ….Every $1 rise in oil will reduce U.S. GDP by $100 billion!

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