US energy costs pose recession risk - Abraham
-
20/03/2001
U.S. Energy Secretary Spencer Abraham on Monday said high energy prices were having a negative effect on the U.S. economy and linked the rising costs to the possibility of a recession. "This nation's last three recessions have all been tied to rising energy prices - and there is strong evidence that the latest crisis is already having a negative effect," Abraham said in a speech to the U.S. Chamber of Commerce.