Why oil and recessions tend to go together

Experience shows that expensive oil and recessions are like Ross and Rachel in the Friends televisio...

Experience shows that expensive oil and recessions are like Ross and Rachel in the Friends television series: they aren't always a couple but they usually wind up with each other in the end. Earlier in May, the benchmark New York Mercantile Exchange oil contract rose to $41.56 a barrel, beating the previous record of $41.15 set in 1990 when Saddam Hussein's troops occupied Kuwait. Oil prices are at their highest in a decade and a half, as anyone who has recently filled the tank of their car knows. How worried should we be about that? On the historical record, very. The world's financial l...