Oil Prices and the Economy
Weathering the Storm
September 2008 By Robert Shoup
In my article The Perfect Storm (The Correlator, Winter 2007), I stated that "there are many storms on the horizon in regards to meeting energy demand. If several of these storms converge, they could result in sufficient inflationary pressure on the world economies to trigger a recession. Should enough of these storms collide, they could result in the development of a perfect storm, which could cause a global depression." Unfortunately, the storm has hit.