The consequences of higher oil prices.

This is an interesting discussion of the impact of higher oil prices from the newspaper of record in the heart of car country, the Los Angeles Times.

While I don't feel sorry for Ms. Carver and her Palmdale to Commerce commute (that was a bad idea even with cheap gas), lots of other assumptions from a world of cheap oil are going to be turned on their heads. India and China's stock markets have both been clobbered this year as being oil short (and generally food and resource tight) and manufacturing, export, and remote service long maybe doesn't look so good. Russia and Brazil, on the other hand, are holding up pretty well. As, until recently, was the US.

Los Angeles Times: Envisioning a world of $200-a-barrel oil.