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Wages are not being increased to offset the high energy prices due to the global labor market. Historically, companies would index workers' incomes to inflation and provided pay raises when oil prices increased. Imported goods are cheaper and replace American goods or leave U.S. manufacturers no choice but to keep their prices low while having to work with higher fuel prices...
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manufacturers no choice but to keep their prices low while having to work with higher fuel prices.
Even though the Department of Energy does not feel that oil prices are high enough to cause a recession, the consequence of high energy costs cannot go unaddressed.
Oil prices can be compared to a tax on consumption...
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