Tuesday, Dec 06, 2011
DOHA (Dow Jones)--The health of the U.S. economy is threatened by high oil prices and the rest of the world should be concerned about the consequences if it does suffer damage, said BL PLC (BP) Chief Executive Robert Dudley Tuesday.
The current oil price, which is around $100 a barrel for U.S. crude benchmark West Texas Intermediate, is "walking a fine line" alongside real economic damage, Dudley said at the World Petroleum Congress in Doha, Qatar.
The U.S. is hit hardest by increases in oil prices because it has a smaller tax buffer between the cost of crude oil and the cost of road fuels at the pump, he said.
By James Herron, james.herron@dowjones.com, +44 207 842 9317
Copyright (c) 2011 Dow Jones & Company, Inc.
(END) Dow Jones Newswires
06-12-11 0642GMT
