Oil Prices Could Put Consumers Over a Barrel

This week’s surge in oil prices to record highs could hurt the economy more than other increases in recent years because consumers no longer have the cushion of low interest rates to help ease the pain.

Economic growth has proved hardy in the face of rising energy prices. But that could change, assuming the latest price spike sticks, because the countervailing boost from cheap money and its sidekick, a surging housing market, has faded, analysts said.
MSNBC