Questions about the point where rising oil prices start to hit demand and production, and when gasoline prices impact corporate profits.
Host
Jim Bianco
Price pressure is starting now, especially in Asia where $170/barrel is causing rationing. The US is insulated from physical shortages but not from global price shocks.
Notes current US gasoline price of $3.91/gallon approaching $4, which will be psychologically difficult for consumers.
Host
Jim Bianco
The economic impact is already present. The duration depends on when the 'blockage' in the global oil circulatory system clears.