Oil is poised to break the century mark, and SmartMoney has a short article that examines the effects it will have on the average American’s budget. A couple of reasons why we haven’t felt more of these effects so far is that the rising cost has largely been eaten by oil refining companies and their gas stations, and because consumers have actually begun to reduce their gas consumption. However, if the price-per-barrel continues to rise, the U.S. faces a cold winter, and the dollar continues its anemic performance, you can look forward to the following consequences:
