What does $110 per barrel for West Texas Intermediate look like at the retail level here in Metro Detroit? I'll let WXYZ-TV tell the tale.
If anything screws up this current economic recovery, it will be oil. The higher prices are already causing gasoline consumption to decline year over year. In and of itself, that's not a bad thing, as I think the country consumes too much gas, but it's what those high prices could also do to the rest of the economy in the meantime, as outlined in the two video reports above. That said, allow me the following moment of bragging.
I am so glad I moved from Whitmore Lake, where I was 40 miles from work, into my walkable neighborhood in SE Oakland County a year ago. Not only can I walk to three restaurants, two drugstores, four convenience stores, a liquor store, a bar, and credit union in less than five minutes (this has come in really handy when I needed to get something five minutes before closing time), I can also walk to a many more businesses, including a grocery store, hardware store, and my haircutters, in 10 minutes, to one side of downtown in 15 minutes, and to one of my worksites in 25 minutes. My wife is amazed at how much I'll walk given a chance. On top of that, I live only seven miles away from my primary worksite. Finally, the nearest major corner has the cheapest gas in the county. No wonder we renewed our lease.
Now, excuse me while I knock on some wood to evade the evil eye. :-)