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Pain at the Pump24:42
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photoOil prices continue to surge to record levels, forcing gasoline costs to $3 per gallon and more in some parts of the country. Analysts at Goldman Sachs have said that oil markets have reached a "super spike" level, and some say that the price of a barrel could top $100 within the next year.

These numbers have analysts and economists making dire predictions about the effect oil prices will have on the American economy and Americans' daily lives.

Hear a conversation about oil and gasoline prices: how high they will go, and how they will change the way you live your life.

Guests:

Vijay Vaitheeswaran, global environment and energy correspondent for The Economist magazine.;

John Kilduff, senior vice president at the energy risk management group at FIMAT.;

Michael Mandel, chief economist at BusinessWeek.;

Jack Beatty, On Point news analyst.

This program aired on August 16, 2005.

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