How can the world economy thrive with today's oil prices?

If oil climbs much higher, I cannot see how we could avoid a nasty episode of "stagflation". Speculators seem to be one of the few entities making money from this global funk! As energy costs climb, inflation takes off, but without any real value being added and subsequently job loss occurs. Then a vicious downward spiral plagues world economies! Supply and demand forces seem to be tainted by usurious investing and the normal cyclical nature of business and economics seems to be off track! Is this an incorrect analysis?

Asked By: screaming monk - 6/26/2008
Best Answer - Chosen by Asker
Perhaps too much investment in cars and factories is what brought on the shortage of oil and the high oil prices... More
Answered By: Nick Z - 6/26/2008
Additional Answers (2)
It can't and won't . the fall has started .
Answered By: Mogollon Dude - 6/26/2008
If a modern economy adopts a nuclear energy program for electrical power generation, there should never be a long term problem. It is really the most rational solution to freeing up resources for use in motor fuel consumption.
Answered By: thomas p - 6/26/2008
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