High Oil Prices: has it become a perfect boomerang for producers?

[hemanthaa@mail.com + 64]

Not only does the unending upward march of the price of crude oil cast a shadow over the billions of consumers, but also shows the signs of becoming a potential boomerang for the producers - as the time wears on.

The steps taken by two major Middle Eastern oil producers, the UAE and Saudi Arabia, in helping the beleaguered families in their own backyard show that the inflationary pressure is on the home turf too - finally. The two countries are going to release billions of dollars to help the families hard hit due to high cost of living - triggered off by none other that high commodity prices!

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[Blueballs65 0]

If American people think they are currently paying to much at the pump, they got another thing coming. It will only become worse, within the next 10-12 months gas prices at the pumps will reach an all time high of $13-$15.00 per gallon!!! Public Transportation will experience a great increase of people using because they simply can't afford the increase.