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Rendering The Old World Obsolete OTTAWA - The bad news is it's much worse than you think. Oil, that is. Yes, we all gasp and weep at the pumps. But that's just a little taste of what record-high oil prices will inflict in the coming months and years. Oil is a component in almost everything we consume -- from food to plastics -- and so the pain in the gas tank will slowly radiate into every aspect of our economic lives.

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Rendering The Old World Obsolete

OTTAWA - The bad news is it's much worse than you think. Oil, that is.

Yes, we all gasp and weep at the pumps. But that's just a little taste of what record-high oil prices will inflict in the coming months and years. Oil is a component in almost everything we consume -- from food to plastics -- and so the pain in the gas tank will slowly radiate into every aspect of our economic lives.