High oil prices pose high risk to economic recovery, IEA says

Oil prices are not nearly as high as they had been in the past. Adjusted for inflation we must have been close to USD 200.- already so hovering around USD 100.- at today’s much weaker Dollar is not much of a deal for me. But there is something real, something bad that will hit our economies in far worse ways than we currently expect. It’s the massive levels of debt and the continuous watering down of our currencies plus the ballooning of the financial sectors that will hit us hard. When that bubble pops, high oil prices won’t be much of an issue anymore.

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