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"There are two
aspects to the oil price increase. One is the magnitude of the increase and
the second is the duration. If you have an oil price increase of about 10
dollars, from 60 dollars to 70 dollars, developing Asia's GDP growth rate
will be shaved off by about 0.6 percentage points."
- Ifzal Ali, chief economist of the Asian
Development Bank discussing the impact of high crude prices.
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-"It's necessary
to fully support the continuation of the IAEA's activities in Iran. I hope
that all the efforts of the international community, in Vienna and in New
York, will be aimed at exactly that."
Russian Foreign Minister Sergei Lavrov
commenting on the ongoing Iranian uranium enrichment stand-off.
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"Time is running
out in this Congress to take action on energy. To be effective in responding
to our current energy crisis, we must be focused, we must be realistic, and
we must be bipartisan. The bill that we are introducing today accomplishes
all three goals, and will help consumers by making them more efficient in
their use of oil and natural gas."
Senator Jeff Bingaman of New Mexico, the
ranking Democrat on the Energy and Natural Resources Committee, discussing
ways that the US can cut it's oil consumption
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