U.S. Economy ‘Up to Challenge’ of High Fuel Prices, Fed Chairman Says

Short-term energy prices are likely to remain volatile and high, but market forces will respond with incentives for production and use of new, energy-saving technologies, Federal Reserve Chairman Ben Bernanke said yesterday.
“The days of persistently cheap oil and natural gas are likely behind us,” Bernanke told the Economic Club of Chicago. “The good news is that, in the longer run, we have options.”

rigzone