What is the significance of oil prices on the US economy?

Oil is a commodity and as such has a basic impact on the inflation rate. The CPI (consumer price index) which is what the government uses to measure inflation is at about 3 or 4 %


However ALL comodities are going up and last month the PPI (producer price index) which measures the cost to companies for producing goods went up 1% in one month 12% per year adjusted.


You figure it out, how much behind do you think the CPI is?


But acctually in my humble opinion this is nothing compared to whats about to happen in the next 2 or 3 years.What is the significance of oil prices on the US economy?
Hopefully it is just the kick in the ';gas'; we need to get on the ball with hydrogen production. We can burn hydrogen in our current engines with little modification, just like propane or LNG.What is the significance of oil prices on the US economy?
that this great nation will be collapsing soon!