While it may seem a little extreme, at this moment in time it seems as though the price of oil is out of control and pushing the cost of living higher and higher. How have we arrived at a situation where one element of the food and transport chain can affect our lives so much?

As the price of oil continues to push higher and higher it is becoming more and more evident how much we actually depend upon the black gold. Not only are we seeing the cost of transport itself continue to spiral higher but we are also seeing a massive impact upon the cost of our everyday food and goods.

Many people seem to forget that oil (and its numerous offshoots) is a major component of the food chain, ensuring that ingredients and the end product can be transported from A to B. All increases in the food chain will impact upon the consumer at the end, as we are experiencing now!

If you cast your mind back to the early 1980s there was talk of an oil glut and the price fell to under $10 a barrel on more than one occasion. The oil companies were running scared, the consumers loved it and it seemed as though it would last for ever. If only!

The onset of the war against terror has seen the price of oil reach levels which have never been seen before. However, the most alarming point at the moment is the fact that the oil price shows no sign of weakening in the short term. To make matters worse the UK authorities are actually increasing their tax take on the purchase of petrol at the pumps adding yet more cost to the UK driver.

With no chance of finding an alternative in the near future, it seems that our lives will be dictated by the price of oil for some time to come yet!