Rising Oil Prices Worry Finance Ministers

[NVMojo]

This is a big deal ...

WASHINGTON (AP) -

Finance officials from the world's leading industrial powers expressed concern Friday about zooming oil prices and vowed to take action to prevent the global economy from getting knocked off course.

The pledge by finance ministers and central bank presidents from the Group of Seven countries comes on the same day that oil prices in the United States shot up to a new record high of $75.17 a barrel.

Even though the world economy is now in good shape, "risks remain from oil market developments, global imbalances and growing protectionism," the finance officials said in a joint statement released after a closed-door meeting.

The United States, Japan, Germany, France, Britain, Italy and Canada make up the group.

more...

http://www.lasvegassun.com/sunbin/stories/invest-corp/2006/apr/21/042107850.html

[ClintonTyree]

1. If Bush would just shut his stupid mouth....

and stop invading sovereign countries there wouldn't BE a crisis right now. Worst pResident EVER! :grr:

[NEOBuckeye]

2. If we had only listened to President Carter...

Oil and energy availability would not even be an issue now for the United States. With a 25 year running head start, we could have totally weaned ourselves from oil, and converted to natural, renewable sources by now.

But of course, we like doing things the hard way. And boy, is the imminent energy crisis going to be HARD.