Oil price jumps no help for renewables-U.S.
PARIS, Oct 14 (Reuters) - Sharp rises in oil and gas prices are a danger for the global economy and do no necessarily foster the development of renewable energies, the U.S. energy secretary said on Wednesday.
"Spiking prices in oil and gas are very counter-productive because they can set off recessions... What we want are stable prices in oil and gas," Steven Chu told reporters on the sidelines of the International Energy Agency's ministerial meeting.
"The renewables can be encouraged in a number of ways but to wish that certain fossil fuels prices jump up is I think not correct."
Oil prices surged to a 2009 high above $75 a barrel earlier on Wednesday. (Reporting by Marie Maitre and Muriel Boselli)
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