How the New Oil Crisis Affects You
by Sean Brodrick 06-11-08
In ancient times, when mapmakers came to uncharted territory, they would scrawl: "Here There Be Dragons."
Flash-forward to the 21st Century; oil markets went into uncharted territory on the charts last week. Friday's dramatic spike up was the biggest one-day move EVER. Morgan Stanley now predicts that oil prices could hit $150 per barrel by the 4th of July.
The dragons are coming to dinner. Are Americans on the menu? More specifically, are you? Today, I'll answer those questions and more.