Greenspan sees little impact on growth from oil

Former Federal Reserve Chairman Alan Greenspan told the Senate Foreign Relations Committee in Washington that higher oil prices have had "little consequence" for a "more flexible" U.S. economy and probably haven't caused "serious erosion" worldwide.

``The balance of world oil supply and demand has become so precarious that even small acts of sabotage or local insurrection can have a significant impact on oil prices,'' Greenspan told the Senate Foreign Relations Committee in Washington.

``The U

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