High Oil Prices Will Fracture the World and End Globalization - US News

High Oil Prices Will Fracture the World and End Globalization - US News



Here is an interesting article where the author states high oil prices will make shipping all over the world to save labor costs less appealing. Certainly that is a result that the greedy speculators in oil have not considered. Perhaps they are pushing the price of oil up until this phenomenon actually takes place.



As this takes place, and manufacturing returns to the more developed home nations, oi prices may back off. We will see. Certainly they are too high now, and it is a direct result of hoarding of the actual commodity as well as of the contracts in oil. 



There is no question that besides housing, commodity inflation has been the most influential in the destruction of the middle class in America, where reports say less than half of Americans say they are middle class.

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