Energy Secretary Steven Chu said on Thursday high oil prices posed a threat to the global economy. “The oil producer countries and the oil consuming countries are concerned because it does have an impact on a very fragile economic recovery. There is great concern,” Chu told a news conference while attending a clean energy conference. Get the full story »
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Obama energy plan: Cut oil imports by a third
President Obama will focus on energy security amid high gasoline prices. (Reuters/Mike Blake)
President Barack Obama set an ambitious goal Wednesday to cut U.S. oil imports by a third over 10 years, focusing on a source of anxiety for Americans as high gasoline prices threaten economic recovery.
Obama outlined his strategy in a speech after spending days explaining U.S.-led military action in Libya, where fighting, accompanied by unrest elsewhere in the Arab world, has helped push U.S. gasoline prices toward $4 a gallon. Get the full story »
