The idea of $100 per barrel oil (and the attendent increase in energy costs) has represented a major psychological threshold.
Now, word out is that futures traders are selling $200 per barrel options for late '08.
That would equate to roughly $4.50 to $5.50 per gallon (depending on a variety of factors) as well as a 25% plus increase in many heating/cooling costs.
Electric golf carts for the masses, anyone?
