Daily Poll: What's the connection between oil prices and recession?

Wall Street's main indexes keep falling. The $Nasdaq Composite Index (.IXIC.US)$ confirmed it was in a bear market, as the prospect of a ban on oil imports from Russia sent crude prices soaring and fueled concerns about rising inflation.

Jim Bianco, President of Bianco Research, recently argued that "every 50% rise in oil's price has led to a recession." 
That's a worrisome omen indeed since oil's price over the past year has more than doubled.