Pricey oil bringing revolution in lifestyle, writer says

Say goodbye to winter trips and millions of cars, Jeff Rubin warns

…In a nutshell, Rubin says oil prices –already nudging up against the $70 level–are inexorably heading back to triple-digit territory, once recovery takes hold.

And as oil prices soar, prices for gasoline, diesel, jet fuel and bunker fuel will too.

That will push transportation costs for everything — from our daily commute, to the food we eat, to airline fares, to the mountains of Chinese-made goods we buy at Walmart–through the roof.

In other words, what consumers witnessed last summer, when local pump prices soared past$1.30 Cdn a litre, was just a warm-up act for what lies ahead, he says.

And that will lead to profound changes in the way the entire global economy works.

Put simply, Rubin says the era of global trade, like the era of cheap oil, is ending.

Edmonton Journal