This article here talks about how oil prices are increasing and the dollar is decreasing and the Dow lost 361 points. Many are worried that the signs point to lethal prices for the American economy, but some feel that $100 oil will not be as detrimental to the economy because America isn't as dependent on oil as much as it has been in year's past. However, they do feel that the high oil price when combined with a credit crunch will prove painful.
What do you think? Are we as oil dependent as we have been in the past, or can we overcome prices at the pump amidst credit crunch, stock market, and dropping dollar issues?