Even costlier oil would help U.S

The price of internationally traded oil rose to an all-time high recently, exceeding $57 a barrel before dropping slightly.

The record price was bad news for the American consumer, for whom the price of gasoline has risen, with some brands in some places selling for more than $3 a gallon. It is bad news as well for the American economy, threatening a slowdown that could cost jobs, since high oil prices retard economic growth.