Adding Fuel to the Fire: Rise in Oil Prices Hits Many Sectors

If you think the high cost of oil is hurting you only at the pump and in the airline stocks in your portfolio, think again.

Oil prices hit a 10-year high of $38 a barrel Wednesday, prompting Vice President Al Gore to urge President Clinton to release emergency stockpiles to ease prices. High oil costs hurt airlines and other transportation companies. But the resulting increase in energy costs is also pinching profits in a host of other industries -- from semiconductor-equipment makers who use fuel to make plastic components to energy-intensive industrial concerns such as DuPont (DD Quote) and Alcoa(AA Quote), economists and Wall Street watchers say.

While prices have retreated a bit, the sustained high levels are having a broad impact in many industries, which may result in some unexpected energy-related casualties among your stock holdings. ...