High Oil Prices & Recession

High Oil Prices & Recession

The most remarkable thing is the capacity of the US economy to absorb record-tops oil price without going inflationary. It is because oil consumption in the United States is not much higher today than it took place in the Seventies. It is not simply a question of effectiveness; it is also a reward for deindustrialization. By the shift of an industrialist to technological/service-have based the economy? the United States isolated itself from inflation product-control. (Bupp 2005)

The key with the US economy Is the service sector - which comprises all the data processing specialists ...