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Oil Fears Could Be More Devastating Than Oil Prices

The fear of even higher oil prices is more of a threat to the economy today than oil prices at their current levels, says Morningstar's Bob Johnson.

Jason Stipp: I'm Jason Stipp for Morningstar.

As the price at the gas pump continues to creep higher, and turmoil in the Middle East continues to dominate news headlines, I'm checking in with Morningstar's Bob Johnson, director of economic analysis, for his take on the effect of oil prices on the economy.