Will the Economy Skid on Oil?
A year ago, the price of oil was less than $20 per barrel. At the start of 2003, it was more than $30, a two-year high, fueled by the strike in Venezuela and worries over how possible U.S. military action in Iraq will affect the flow of oil from the Middle East. Just how much should we worry about higher oil prices and their potential impact on the economic recovery?
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