Fuel fears have US over a barrel | theage.com.au - 0 views
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Energy Net on 23 Jun 08REFINED, distilled and then burnt, petrol's explosive power propels the world's largest economy. But its soaring price is punching holes in the US engine - and the rest of US are anything but immune. The globe's thirstiest energy consumer is reeling from high petrol prices, with a barrel of oil hitting $US137 ($145) on Thursday's markets. Even if there is still division about whether the high point of global production - "peak oil" - has been reached, most analysts agree that cheap oil is finished.