World economy jeopardised by soaring oil prices

---

ROME, Nov 12 (Xinhua): Italian Prime Minister Romano Prodi warned here yesterday that world economy is being jeopardised by soaring oil prices.
"The price of crude oil has been doubled in 2007. The world economy is being jeopardised by high oil prices," Prodi said when addressing the opening ceremony of World Energy Congress, which was kicked off here in Rome.
Recently, the price of crude oil soared and once closely hit the bench mark of 100 US dollars per barrel, which has sent an alarming warning to the international economy, and led to widespread debate on energy.
The Italian prime minister said the high oil price has brought "great difficulty" to some countries, businesses and people's life as well.
Prodi also noted that the soaring oil prices are relevant to the speculations of financial market, and instability of financial market also fuel up the growing prices of crude oil.
He also attributed the soaring energy prices to lower investment by energy businesses, like power generation, electricity and gas companies.