Economic Malaise Grows as Oil and Gas Continue to Rise

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Global financial markets were still in shock when they opened today after Friday's huge jump in oil prices and the big Wall Street decline. Yesterday, the average price of gasoline in the US hit $4 a gallon. The big fear is a "vicious cycle," according to Tom Petruno, financial writer and columnist at the Los Angeles Times.

Credits

Guest:
Tom Petruno - Business Reporter, Los Angeles Times

Host:
Warren Olney

Producers:
Christian Bordal, Karen Radziner, Katie Cooper