The price of oil would spike until it forced severe demand destruction.
The effect of such an oil spike would be to line the pockets of OPEC nations (and U.S. wildcatters and Russian potentates) with greenbacks while applying a brake to any nascent growth in the world economy.
Husky doubled its earnings last year as a result of the oil price spike.
Some think the oil-price spike of 2008 was partly caused by China stockpiling diesel and other fuels in advance of the Olympics.
The price of gas, the spike in the price of gas is related to the spike in the global oil market.
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And that could be just what investors need to calm jitters that the oil price spike and the collapse of the U.S. housing market will bite tech.
The President is making these decisions based on the best interests of the country and the best interests of our economy, and the best interests of middle-class families that are weathering the storm of a spike in oil and gas prices.
WHITEHOUSE: Press Briefing by Deputy Press Secretary Josh Earnest
Federal regulators on Thursday rescinded drilling permits issued a day earlier to companies for new oil and gas wells in the Gulf of Mexico, prompting market confusion and a spike in oil prices.
Mr Gore has already come out fighting, blaming the price spike on the Big Oil pals of his rival.
Another spike in the price of oil that would spur subsidized green projects but we're not holding our breath.
Then, too, a spike in the price of oil coincided with a fear that natural limits to supply were close.
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And he understood that when he was running for President back in 2008 when there was a spike in the price of oil.
Indeed the collapse of oil prices, one of the few reasons around for economic cheer, may be setting the stage for another spike.
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The first camp worries that the lofty bill for a barrel of oil is damaging the world economy and a further price spike could destroy demand.
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The United States still needs to ensure the free flow of oil, because a stop in production will cause prices to spike on global markets, affecting the entire planet.
Last year, VIX jumped up in the aftermath of the Deepwater Horizon oil spill, but its largest single-day spike was 24%.
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Still, while rising demand for oil should be a cause of concern long-term, economists say the current spike in U.S. gas prices is just that--a spike caused by unusually tight supply.
In February the Juba government cut off the oil in protest at high transit fees, depriving both countries of revenue they desperately need and helping to cause a global oil-price spike.
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The British government thinks that even if such an attack went as well as possible, with little retaliation by Iran, oil prices would spike, destroying the world economy and Mr Obama's chance of re-election.
Or the odd shape of the oil-futures price curve, which suggests the market thinks the price could spike later this year, then fall and return to today's prices by 2012.
In the early days of the oil industry, a New England snowstorm or a washed-out Texas rail bed could lead to a spike in prices or even shortages for entire regions of the country.
And the fact of the matter is, is that if they even approach the amount of car ownership that we have, oil will run out very quickly and on the way, prices will just spike up naturally, no matter what we do.
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