Over A Barrel: Oil Supplies

The cold snap strains oil supplies and boosts prices

For consumers who lived through the long gasoline lines and lowered thermostats of the 1970s, this winter has brought back chilling memories. Symptoms of an energy squeeze are breaking out all over. Several airlines have abruptly added a surcharge to their fares to help cover spiraling jet-fuel costs. Trucking companies have begun to pass along the rising cost of diesel oil, which in just one month shot up 30%, to $1.35 per gal. Motorists may soon be affected too: a sharp decline in gasoline inventories is likely to boost prices at the pump by spring.

No one has felt the pinch...