Most Active Stories
- Historic Hoosier Toboggan Run Opens for the Season
- New Bravas Restaurant Offers Unique, Gourmet Burgers to Fort Wayne
- Musical Variety is the Spice of Life this Month for Fernando Tarango
- What to Expect from the Indiana General Assembly in 2015
- Holiday Home Tour Promises a Nostalgic Glimpse of Fort Wayne's Past
Wed August 29, 2012
G-7 Nations Want Oil Production Ramped Up
Originally published on Thu August 30, 2012 4:04 am
DAVID GREENE, HOST:
NPR's business news starts with upping the oil output.
(SOUNDBITE OF MUSIC)
GREENE: The group of seven most industrialized nations are urging oil producing countries to ramp up production. In a statement yesterday, the so-called G-7 nations warned of the risks, quote, "posed by elevated oil prices." Demand for gasoline usually starts to wane at the end of the summer but right now gasoline prices are hitting new highs. Oil prices are surging because of tensions with Iran and the ongoing concern about Hurricane Isaac.
The White House says releasing oil from the strategic petroleum reserve remains an option if fuel costs keep climbing. Transcript provided by NPR, Copyright NPR.