Amazing Oil Brings Higher Costs to Many Things

According to the American Petroleum Institute (API), we're all to be amazed at how wonderful oil is to our modern life.

"It's amazing how many things get their start from a barrel of oil. Everyday things like the gasoline you use to drive and the comfy synthetic fabrics you wear year round."

Yep. It's amazing all right. We're dependent upon a high cost, polluting, limited commodity from a non-renewable source, often bought from hostile countries, that affects how we live, shop and eat.

Media stories have already started to warn of the impending cost impacts of higher priced oil (here, here and here). And former CIA Director James Woolsey warns that foreign oil is a risk to our national security.

Here is a partial list of just some of the amazing things we get from a barrel of oil. So don't be too surprised if these item dramatically increase in price now that a barrel of oil has nearly doubled in cost in the past year to $100.

Antihistamines Antiseptics Artificial Hearts Aspirin Audiocassettes Baby Strollers Balloons Bandages Blenders Cameras Candles CD Players Clothing Compact Discs Computers Containers Crayons Credit Cards Dentures Deodorant Diapers Digital Clocks Dinnerware DVDs Dyes Eyeglass Frames

Fertilizers Food Preservatives Food Storage Bags Footballs Foul Weather Gear Furniture Garbage Bags Glue Golf Balls Hair Dryers Hang Glider Heart Valve Replacements House Paint Infant Seats Ink Insecticides Life Jackets Lipstick Luggage Medical Equipment Nylon Rope Pacemakers Pantyhose Patio Screens Perfumes Photographic Film

Photographs Piano Keys Roller Blade Roofing Safety Glass Shampoo Shaving Cream Shower Curtains Slippers Soft Contact Lenses Sunglasses Surfboards Surgical Equipment Syringes Telephones Tents Toothpaste Toys Umbrellas Vitamin Capsules

Sadly, many experts expect that the cost of crude oil will continue to rise this year to even greater price heights.

Will 2008 bring us $125, $150, or even $200+ a barrel oil? Only time will tell.

READ MORE

• Crude Oil Breaks the $100 Mark
• Oil Squeezes the Less Affluent
  
• Inflation Surges Due to Fuel Prices
• Gasoline Prices Rise and So Does Everything Else
• Oil Prices Expected to Ripple Through Economy

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