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Reply #63: Oil price could strangle economic recovery hopes [View All]

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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-25-11 08:48 AM
Response to Reply #62
63. Oil price could strangle economic recovery hopes
http://www.reuters.com/article/2011/11/24/us-oil-iea-id...

The high oil price could "strangle" efforts to get the global economy back on its feet and may also hamper Asia's ability to help the West exit its crisis, the International Energy Agency's chief economist said on Thursday.

The IEA's Fatih Birol said the world economy was in a more fragile state now than during the crisis of 2008-2009, when oil prices were lower.

"I believe oil prices are well-positioned today to strangle the economic recovery efforts," he told Reuters on the sidelines of a seminar with the U.N. nuclear agency in Vienna...
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