NEW YORK (CNN/Money) - Oil prices soaring in the wake of the terrorist carnage in Saudi Arabia over the weekend are just another sign of how vulnerable we are to the geopolitics of petroleum and the madness of assassins.

Yes it's true that we are less energy dependent here in the United States because of technology, regulations that force us to be, and a desire by companies and families to save money.

But to say we are less dependent isn't to say much.

We still consume oil like there was no tomorrow when we might have to face up to the fact that there's only so much of it in the ground, Number One, and there's tight refining capacity, Number Two.

One big question now is how does it affect the U.S. economy this year? Oil above 40 bucks a barrel is probably not crippling and may not even be much of an issue because the economy is firing on all cylinders.

What about oil at $45 a barrel? Experts say that is a problem and though we're not there yet it's a dark cloud that looms just over the terrorist horizon.  

Kathleen Hays anchors CNN Money Morning and The FlipSide, airing Monday to Friday on CNNfn. As part of CNN's Business News team, she also contributes to Lou Dobbs Tonight.