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Bernanke warns on oil price ‘threat’
AFP – US Federal Reserve Chairman Ben Bernanke speaks during a hearing of the Senate Banking, Housing and Urban … WASHINGTON (AFP) – Federal Reserve chairman Ben Bernanke on Tuesday warned a “sustained” rise in oil prices could threaten US growth and spark dangerous price rises, as he eyed turmoil in Libya.
Bernanke told Congress he believed unrest in the oil-rich Middle East would result in “temporary” and “modest” increase in US prices, but acknowledged greater risks remain.
“The most likely outcome is that the recent rise in commodity prices will lead to Read more…
Global warming means more snowstorms: scientists
Climate change is not only making the planet warmer, it is also making snowstorms stronger and more frequent, US scientists said on Tuesday.
Workers remove snow from a runway at O’Hare International Airport on February 3, in Chicago, Illinois. Climate change is not only making the planet warmer, it is also making snowstorms stronger and more frequent, US scientists said on Tuesday.
“Heavy snowstorms are not inconsistent with a warming planet,” said scientist Jeff Masters, as part of a conference call with reporters and colleagues convened by the Union of Concern Scientists.
“In fact, as the Earth gets warmer and more moisture gets absorbed into the atmosphere, we are steadily loading the dice in favor of more extreme storms in all seasons, capable of causing greater impacts on society.”
Masters said that the northeastern United States has been coated in heavy snowfall from Read more…
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