Crude Oil prices have jumped to about $115 per barrel last week, and about $125 per barrel this week.
But there is way more than enough crude oil to meet current consumption needs, all experts agree, so why the jumps?
China, India, and others needing more now, and even more soon,
Venezuela-Chavez rattling swords (and acting less and less like a man of the common people),
Tensions with Iran and everybody else.
And gas prices are jumping just as fast or faster, because even with enough crude oil supplies, there is not enough capacity in not enough refineries around the world to get enough gas to us big users.
So we pay more.
And truckers and rail lines and shippers pay more to move everything that moves from producers to consumers.
Such as sweaters, luggage, forks, earplugs, furniture, cat litter, paper, pens, and food.
And pretty much everything else.
So since it is costing the transporters a lot more, it will soon cost everyone a lot more as those costs get passed on. (Those costs have to get passed on or there will be no more transporting of goods to us or anybody else.)
Prices have gone up on fuel for everyone, so we are spending more on that, but that is soon going to cause prices to go up on almost everything else.
Except houses, on which prices are still going down.
See, since the price of everything but houses is going up, and house prices are going down...
IT WILL ALL EVEN OUT !!!
What a relief.