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Article: Soaring oil prices hurting economy.(The Dallas Morning News)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- September 28, 2004
- Author:
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Angela Shah
DALLAS _ Airlines bleed as precious resources are diverted to pay for jet fuel. The world's largest retailer has said its number one challenge is high energy prices. And economists say the added stress will mean continued lackluster job growth.
Even if oil doesn't close above the psychologically important price of $50 a barrel Tuesday, it's already pumping life out of a middling economic expansion.
"Higher energy prices create a lot of uncertainty," said Stephen Brown, director of energy economics at the Federal Reserve Bank of Dallas. "Firms aren't sure what they want to do."
As the price of West Texas Intermediate ...