How high will oil have to go before triggering a global recession? In a recent survey of U.S. Oil and Gas industry leaders--more than half of respondents said the industry can withstand oil prices of up to $90 a barrel. But not everyone sees it that way.
On “Morning Call” CNBC’s Liz Claman took a closer look at that issue with John Kilduff with Fimat USA and Jay Bryson, Global Economist at Wachovia Corporation.
Bryson says when oil prices go up you have to look at why. In the past it’s been supply issues but more recently it hasn’t been about tight supply - it’s about increased demand. Healthy economies around the world are requiring more and more energy.