November 12, 2007 Oil prices have more than quadrupled since 2002 and seem to be heading in only one direction: up. High oil prices affect everyone from a factory worker in China to a farmer in Iowa. Expect to pay more for gas, airline tickets, food and heating.
November 14, 2007 Some environmentalists think steep oil prices might ignite interest in energy-efficient habits and products. But others warn that high prices could also renew interest in more-polluting sources of fuel, such as tar sands and oil shale.
November 14, 2007 The military is the world's single, largest purchaser of oil given the fleet of tanks, planes and ships guzzling about 340,000 barrels a day. But the Defense Department isn't as threatened by high oil prices as it is by oil being in short supply.
November 14, 2007 With a barrel of oil hovering above $90, many of the major oil companies are heading for the Gulf of Mexico. Higher oil revenues mean they can spend more to drill farther out at sea and deeper down.
November 13, 2007 Oil at $100 a barrel means countries with abundant oil reserves are sitting on a lot of wealth. But how much these countries can earn from this oil depends on how much control they have over it.
November 12, 2007 What's causing record-high oil prices? Tension in the Middle East adds a "security premium" to every barrel of oil, says one oil expert. But oil prices would be high even without that premium because of growing worldwide demand in places like China and India.
November 12, 2007 For most of the summer, consumers in America were insulated from the soaring cost of crude oil. In the past few weeks, however, the protective "air pocket" has burst and gas prices are quickly rising.
November 12, 2007 Oil prices are soaring to levels never anticipated – nearly $100 a barrel. The price of oil affects just about everything that is made, transported, eaten and sold in the United States. But the cost hasn't had the impact on the economy many analysts expected.
October 31, 2007 Higher oil prices mean you'll pay more for gasoline, heating oil, airline tickets, food and other goods. But many experts say the U.S. economy is better positioned to weather an oil shock today than it was in the 1970s and '80s.