US Energy Secretary: Oil Prices Eventually Will Impact Economy

U.S. Energy Secretary Samuel Bodman said Thursday that he’s “surprised” that oil price increases over the last year haven’t had a greater impact on the U.S. economy but said, eventually, sustained high prices will have an economic effect.

“This country doesn’t need four (nuclear power) plants,” he said during a press conference after his speech. “We need 14 or we need 24. To get a general rebirth, if you will, of the nuclear industry in this country will require Yucca Mountain be built.” Bodman said demand for electricity in the U.S. will increase 50% over the next 20-25 years and “the only thing I see meeting that is nuclear power.”

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