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US economy 'in danger zone with oil price'

uploaded by Tom van B August 2, 2007 at 07:02 pm
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US economy 'in danger zone with oil price' by Tom van B

Here in New Zealand we will be facing record petrol prices at the pump as our dollar slowly returns to it's 60 cents level against the US dollar. Hold on tight!

"We're in a. . . danger zone right now, so that's why I hope that both Opec and non-Opec nations will look carefully at the facts," Bodman told reporters.

It was one of the strongest warnings from a Bush administration official to date on the impact of high crude oil and gasoline prices, which are already starting to take their toll on US consumer spending.

US crude oil futures on Wednesday hit a record intraday high of $US78.77 a barrel, surpassing the previous peak of $US78.40 set in July 2006. The benchmark US oil contract settled up 33 cents at $US76.86 on Thursday.

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NP! ID: 582568

Title: US economy 'in danger zone with oil price'

File Size: 358 × 263 – 23.08 KB

Created: Thu, 08/02/2007 - 7:02pm

Modified: Thu, 08/02/2007 - 7:02pm

File Type: image (jpeg)

Licence: Public Domain

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Tom van B

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