New York (Platts)--25Jan2001

The US needs to quickly address its growing energy problems because ongoing energy price increases "will undermine economic growth," US Federal Reserve Chairman Alan Greenspan said Thursday. Greenspan, answering questions during an appearance before the Senate Banking Committee, said the US's energy problem, including rising natural gas prices and California's ongoing electricity woes, is "a significant problem that this country has to address" soon and in a comprehensive way. He said the current energy structure appears "inadequate" to keep prices low, and that high energy prices could hamper economic growth.

http://www.platts.com/stories/electricpower4.html

-- kevin (ktross@mailcity.com), January 25, 2001

Answers

Ah, I see the Chairman Greenspan has finally begun reading the posts here on GICC. Welcome, Alan!

(Big Grin.)

(Sorry for the gratuitous observation, but sometimes the comments from our "leaders" seem to be so far behind actual events it is maddening. Greenspan's testimony to Congress is always so dense, even after I re-read it a couple times, that when he says something relatively clear it must mean he thinks it's actually important. )

-- Andre Weltman (aweltman@state.pa.us), January 26, 2001.

Commissar Greenspan is going to get booted out of the Wizard's union if he isn't more alert. Maybe his crystal ball isn't back from the laundry. He also doesn't know we are already in a RECESSION. Doesn't he read GICC?

WRK, Sedona

-- Warren Ketler (wrkttl@earthlink.net), January 26, 2001.