Harnessing American Resources to Create Jobs and Address Rising Gasoline Prices: Impacts on Seniors, Working Families and Memorial Day Vacations |
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| Author:
| U.S. House of Representatives, Committee On Un-American Activities |
| ISBN: | 978-1-4776-7836-7 |
| Publication Date: | Jun 2012 |
| Publisher: | CreateSpace Independent Publishing Platform
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| Book Format: | Paperback |
| List Price: | USD $14.95 |
Book Description:
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Economists have a general rule of thumb that each $10 increase in the price of a barrel of oil reduces the growth rate of the economy by 0.2 to 0.3 percentage points. A recent UC San Diego analysis concluded that "all but one of the 11 postwar recessions were associated with an increase in the price of oil." If American consumers have to dip deeper into their wallets to pay for gas, we could be in for a double-dip recession. American families and businesses want real solutions not...
More DescriptionEconomists have a general rule of thumb that each $10 increase in the price of a barrel of oil reduces the growth rate of the economy by 0.2 to 0.3 percentage points. A recent UC San Diego analysis concluded that "all but one of the 11 postwar recessions were associated with an increase in the price of oil." If American consumers have to dip deeper into their wallets to pay for gas, we could be in for a double-dip recession. American families and businesses want real solutions not bumper sticker slogans. They want lower prices, more choices, and a reduced dependence on foreign oil.