Bernanke – High Energy Prices to Push Alternatives

High energy prices should spur investment in alternative energy sources and induce conservation over the long term, but they make the economy vulnerable in the near term, Federal Reserve Chairman Ben Bernanke said Wednesday.

“We’re in a difficult period,” Bernanke told the House Financial Services Committee, noting high demand for global supply could keep energy prices high. “And the risk exists if there are significant disruptions of supply then we’ll get additional spikes and movements in energy prices.”

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