WASHINGTON (Reuters) - The rising cost of oil could damage the world economy just as it begins to rebound, U.S. Energy Secretary Steven Chu said on Tuesday.
"Even $80 is making me nervous," he told the Reuters Washington Summit.
Chu said a sharp upswing in oil prices could hinder a global economic recovery. He pointed out that last year's oil price spike was a "disaster" for the world economy.
"They have been inching up recently and it's a little bit concerning." - Chu
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