Energy Costs Trickle Through World Economy
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There's nothing like a trip to the gas station to raise one's awareness of energy prices. Yet it doesn't require filling up the tank &#151; or opening a utility bill, for that matter &#151; to feel the bite of rising fuel costs.
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Record prices boost the cost of heating oil, unnerve the stock markets, and clip GDP growth.
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The planet isn't the only thing heating up because of climate change. Some renewable-energy stocks have been pretty hot, too.
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The soaring cost of oil hits global economic growth, although recovery is not a distant prospect, according to the OECD.
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While the surge in world oil prices has been a godsend for African exporters, it has placed an extra burden on other economies on the world's poorest continent, whose governments have passed on the cost increase to petrol pump users.
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WASHINGTON -- The U.S. economy has been battered by a bigger-than-expected slump in housing but will keep growing next year as consumers get relief from soaring energy costs.
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For quite sometime now, global economy has been under a lot of pressure. The war in Iraq, the US current account deficit and resulting falling dollar, oil deficit have all contributed to a slowdown in the global economy.
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Business & money: British economy faces rising costs of food and increasing energy prices amid slowing growth
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The US current account deficit widens, showing the world's largest economy is still having to foot a huge energy import bill.
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Some of the biggest Western oil   companies are urging consumers to use less energy to bring down   prices and slow rising global demand.
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Nuclear power, despite controversy over safety, pollution and cost factors, is rapidly gathering steam in a race to guarantee energy as emerging economies compete for fuel and particularly oil.
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Get ready for new-home prices and remodeling costs to jump even higher because of unexpected continuing demand in America, also because of the construction explosion in China, record worldwide oil prices and, now, a triple play of devastating hurricanes.
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Electricity shortages and gas supply problems predicted to push bills up.
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SAN FRANCISCO, May 24 (OneWorld) - Solar power is the fastest growing source of energy in the world and likely will become much more affordable in the next few years, according to a new report out this week.
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Governments around the region are warning that rising oil prices have started to hurt their economies.
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The main challengers to U.S. economic power &#151; Brazil, Russia, India and China &#151; have overtaken the United States in dominating the global energy industry, according to a new study by Goldman Sachs.
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Global oil prices boomed on Wednesday, spreading fear that energy prices will restrain economic activity, as traders worried about a heating oil supply crunch in the American winter.