[SoothSayer]

I came across this paper from 2004

[align=center]ANALYSIS OF THE IMPACT OF HIGH OIL PRICES ON THE GLOBAL ECONOMY

Fatih Birol
Chief Economist and Head of Economic Analysis Division
International Energy Agency[/align]

Whilst a bit dated, it does contain some interesting ideas which may still be applicable today. Link_to_PDF

[ypct_george]

Interesting --

Currencies would adjust to changes in trade balances. Higher oil prices would lead to a rise in the value of the US dollar, ...

-- another thing that suggests high oil prices are good for US rich. See my post.

George