Riyadh, we have a problem

It's getting ugly out there following the surge of oil to $139 a barrel. It seems that the Saudis may be beginning to perceive that there's a problem in the world oil market. Saudi Arabia is calling for a summit to discuss the matter. Fuel strikes have erupted in Spain, and fishermen suspending work in France. And the effect it is having on U.S. households is striking, especially in places like Wilcox County, Ala., where the cost of gasoline is eating up 16 percent of household income. Some economists are now beginning to worry about it's effects on the wider economy. A little late in the game there guys. And while the oil market is a tangled and complicated skein, expect things to get uglier before they get bad or even any good.