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Impact of higher oil, product prices on US economy deepens

04/21/2008
There are growing indications that high gasoline and diesel fuel prices are having an increasingly adverse impact on the general US economy, and federal lawmakers have started to respond.US Sens. Maria Cantwell (D-Wash.) and Olympia J. Snowe (R-Me.) urged the Federal Trade Commission on Apr. 8 to use new regulatory authority it received as part of the 2007 Energy Independence and Security Act to prevent oil market manipulation. Two days later, House Republicans used floor debate on a beach protection bill to charge Democrats with not taking meaningful action in response to high gasoline and diesel prices.Government statistics suggested that energy prices climbed more quickly in March. Who...
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