G-8 energy chiefs warned soaring oil prices threaten global recession
The world's top energy consumers must act quickly to control soaring oil prices before they trigger a global recession, Japan's energy chief urged colleagues from leading industrialized countries Sunday.
The Group of Eight rich nations met in northern Japan with representatives from China, India and South Korea to discuss oil and gas markets, energy investment, energy security and climate change amid deepening concerns about the world economy. ''The situation regarding energy prices is becoming extremely challenging,'' Akira Amari, Japan's trade and energy minister, warned his counterparts Sunday. ''If left unaddressed, it may well cause a recession in the global economy.'' (AP)
