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To: Junkyardawg who wrote (19187)	2/21/2000 7:33:00 AM
From: long-gone	Respond to of 63513

Rising Oil Prices Could Threaten World Economy, Richardson Warns NewsMax.com 2-20-00 Skyrocketing petroleum prices are a recipe for a dramatic cutback in world economic growth, according to United States Energy Secretary Bill Richardson. In Mexico for a round of talks with energy officials, Richardson said that oil prices, which have tripled from $10 a barrel to more than $30 a barrel in the past years, could foster inflation, lead to higher interest rates and threaten the world economy as the result of tightened credit. "Our message is that elevated crude prices have the potential to retard the world econony," Richardson told Reuters news agency. Richardson?s plea for stablizing oil prices seems to have found sympathy from his Mexican counterpart, Luis Telez, who says that while he favors stable oil prices he does not believe that they should be allowed to jeopardize global economic growth.(cont) newsmax.com