00:00Why is oil at $100 a barrel so bad for the global economy?
00:06The more that we spend on energy, the less that we spend on something else.
00:10You spend on the gas bill at the pump station, you have less money for the restaurants.
00:15And also, it's bad because it starts increasing inflation.
00:18What do you mean by that? How does that happen?
00:20So, first of all, the price of gasoline and diesel themselves become more expensive.
00:25That feeds into inflation. That's just a price that is going higher.
00:29But the bigger impact, the more potentially damaging for inflation,
00:35is that everything else needs to be repriced at a higher level because everything gets transported.
00:41Our fares, public transport, private transport, a taxi, an Uber that you take.
00:46The Uber driver is spending more money into gasoline, so their fares need to go up.
00:53Jet fuel goes higher. Every airline in the world increases their fares.
00:57Our holidays became more expensive.
00:59But also think about the supermarket.
01:01If the cost of transportation of groceries go up, that big truck that is supplying the supermarket,
01:06that means that at some point, the grocery costs have to go higher.
01:10We're going to have to most.
01:11We're getting more money into a уル
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