Former Fed Chief Greenspan Warns of Energy Crisis

Washington, DC [Knight Ridder Newspapers] Rising energy prices are pushing up inflation and increasingly threatening the U.S. economy, former Federal Reserve Chairman Alan Greenspan testified Wednesday. He called for speedily developing alternative energy sources such as ethanol and liquefied natural gas. In his first appearance on Capitol Hill since he ended his nearly 19-year Fed tenure Jan. 31, Greenspan testified before the Senate Foreign Relations Committee that America had better reduce its dependence on foreign oil or suffer damaging economic consequences.

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