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Wasting energy

12 October 2004 By Edward Hadas

The world economy can adjust to oil at $50, or even $80 as the industrial base is ultimately flexible. But the transition would be risky. It would be hard to avoid inflation or recession. But panic is premature. The higher prices oil price may not stick. It would be hard to avoid inflation or recession. But panic is premature. The higher oil price may not stick.

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