CNN Business: “Gas is rapidly approaching $6 in one state”
By datatrekresearch in IN THE NEWS
Excerpt from CNN Business quoting DataTrek co-founder Nick Colas:
.... "The good news is that energy prices are not close to levels where they would pose an immediate risk to the US economy.
“History says we are nowhere near having to worry about rising oil prices tipping the US economy into a recession,” Nicholas Colas, co-founder of DataTrek Research, wrote in a note on Tuesday.
Colas said history shows oil prices must double in a year or less before a recession is inevitable. That would mean oil prices would need to spike all the way to $140, a level that not even the biggest oil bulls are calling for"....
Full article here on CNN Business.
