Economies around the globe are in turmoil. High demand, market pressures—and the conflict in eastern Europe and its consequent political instability—are driving gas and oil prices higher, and countless industries are feeling the pain.
Last week oil reached $130 a barrel and may go even higher (although the price came down a bit as the week began). The worst-case forecast has been raised to $240 a barrel, and the high prices could lead to a global recession as soon as this year.