Higher Oil Prices? It’s Worse Than You Think

The daily numbers from the oil markets are bad enough: On Monday, June 13, benchmark light sweet crude broke $55 a barrel on the New York Mercantile Exchange for the first time since April.

But there’s worse news for the economy and for any consumer who heats a house or drives a car: Under the surface, the news about long-term trends for oil prices looks even worse. For the next three to five years, the trend is toward higher prices with even greater peaks and valleys.
MSN Money