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Oil price surge unlikely to repeat past oil shocks
Washington notes oil hovers above 66 dollars a barrel with gas near 3 dollars a gallon. Economists say this demand-driven spike is less likely to trigger recession, as growth remains solid and consumer spending only modestly shrinks. GDP growth is seen around 3.7 percent this year, below 4.2 percent prior.
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Washington
Middle East
David Wyss
Standard & Poor’s
New York
AP Aol
Wing
Energy Department
Merrill-Lynch
Freddie Mac
Federal Reserve
Alan Greenspan
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