Click here to watch an archived copy of the JEC hearing
The Joint Economic Committee (JEC), chaired by Congresswoman Carolyn B. Maloney, will hold a hearing on Wednesday, May 20, 2009, at 10:00 a.m. in Cannon Office Building Room 210, entitled “Oil and the Economy: The Impact of Rising Global Demand on the U.S. Recovery.” While the global economic downturn has reduced demand for oil in both developed and developing nations, signs of economic recovery have already begun to nudge oil prices higher. The hearing will examine the impact of last year’s oil price shock on the U.S. economy, near term expectations for crude oil prices, and developments in the global supply of crude oil. The hearing will also explore policy options for minimizing the impact of higher oil prices on the economic recovery in the U.S.
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