Ian Verrender

And in the past, as technology has improved, instead of people just being laid off as a result of that, they've actually produced a lot more.

They've produced higher-end goods.

There's been an ever-expanding array of goods and services that they have done.

Then a lot of those people, once you had manufacturing, get down to the point where there's not a lot of people employed.

And it's service industry.

So I don't know, maybe service industries can continue to

expand.

But a lot of those services that we produce, the high end services, things like accounting, things like architecture, things like all of those university educated jobs that resolve around providing services to other people.

Well, they're all going to be taken up as well.

So where do we go from here?

Catch you later.

I'm Carrington Clarke.

And I'm the ABC's Chief Business Correspondent, Ian Verinder.

I think it's one of the key factors that would be influencing him.

More importantly, I don't think it's just the price of West Texas Intermediate.

It's the price at the bowser for American consumers.

Prices have doubled, I think.

They call it gas prices, we call it petrol, and it's continuing to rise.

But yeah, that $100 a barrel benchmark price for West Texas Intermediate, well,

You know, it's great for all producers, but it's not very good for anybody else.