Christian Science Monitor Outlines How $100 Crude Oil Could Impact You

The newspaper says higher energy prices are beginning to affect how Americans live.

March 23, 2011

BOSTON - With the cost of crude oil hovering around $100 per barrel and pump prices topping $4 in some areas, Americans are growing increasingly concerned about how high energy prices are affecting their lives. The Christian Science Monitor recently listed eight ways that higher energy costs are impacting consumers.

1. More crowded and costly airplane travel. Both domestic and international travel will be significantly higher this year. Experts predict flights will stay packed.

2. Driving local. Rising pump prices have impacted driving behavior already. "People will do more to save a penny a gallon as the price is rising," said Jeff Lenard, NACS spokesman. "I know; I do it myself."

Families will likely take fewer trips and scrimp when they arrive at their destinations, too. "They might stay at a cheaper hotel or use cheaper restaurants," said Troy Green, AAA spokesman. "Or, instead of driving from New York to Washington, D.C., they might go to Philadelphia instead."

3. Rising food costs. Meat and poultry are increasing in costs, which is because of the higher demand for corn. Also, it costs more to truck produce and products to market.

4. Car purchases. Hybrid car sales might continue, but higher pump prices will adversely impact car buying.

5. The end of free shipping from online retailers. Major shippers routinely tack on fuel surcharges, which could curtail offers of free shipping from e-retailers.

6. Renewable energy. Corn ethanol has a higher demand, but wind and solar power not so much.

7. Increased friction in the political arena. High oil prices are causing political infighting as lawmakers and lobbyists try to come up with workable plans to curtail climbing energy costs.

8. Global economy that??s softening. The global economy impacts the U.S. economy and oil prices are part of that mix. "If you look at the concern about uprisings in the Middle East and spreading into the Persian Gulf, and if Libyan exports are out for an extended period of time, $100 a barrel looks sustainable," said Sarah Emerson, president of Energy Security Analysis Inc.
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