"Slower [economic] growth means that energy prices are likely to be dampened" and a slowing economy will "drain liquidity from some of the speculative and investment money in the marketplace."
Wachovia economist Jason Schenker said in a conference call with investors Tuesday. Schenker said that US energy markets are potentially at risk of a sharp downturn in prices if the current concerns over subprime mortgage rates spread to other areas of the economy.

"Damage from the earthquake appears to be limited to those sections of the plant that would not affect the reactor or systems related to reactor safety."
UN International Atomic Energy Agency chief Mohamed ElBaradei said in a statement in reference to an earthquake-hit nuclear power plant in Japan. Japan Wednesday welcomed a report by the UN nuclear agency which confirmed that the plant did not pose a threat to public health. Japan invited the six- expert team last week to inspect the world's largest nuclear plant, Kashiwazaki-Kariwa, which leaked a small amount of radiation after the July 16 tremor.

Updated: August 15, 2007