Thursday, August 11, 2005

Oil surge presents 'headwinds' to US economy

Treasury Secretary John Snow said that record-high oil prices threaten to dent US growth, although the economy has shrugged off their impact so far.

Speaking after the price of a barrel of oil hit 66 dollars in New York for the first time, Snow said such high levels "are extremely unwelcome."

Boy, that's sure tellin' 'em, Mr. Secretary. I like the way this Administration takes no prisoners on these issues.


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