"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.
 
 
 
-"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.
 
 
 
"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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