Near record high crude oil prices have put the US economy in the ‘danger zone’ and the world’s producers must boost supply to prevent shortages, US Energy Secretary Sam Bodman has said. Oil up as Opec says no output hike Sustained US crude oil prices near the $US80 ($NZ105.79) level could harm the US economy, and both Opec and non-Opec producers should ‘look at what the facts are,’ Bodman told reporters. ‘We’re in a. . . danger zone right now, so that’s why I hope that both Opec and non-Opec nations will look carefully at the facts,’ Bodman told reporters. It was one of the strongest warnings from a Bush administration official to date on the impact of high crude oil and gasoline prices, which are already starting to take their toll on US consumer spending. US crude oil futures on Wednesday hit a record intraday high of $US78.77 a barrel, surpassing the previous peak of $US78.40 set in July 2006. The benchmark US oil contract settled up 33 cents at $US76.86 on Thursday. Bodman said that so far high oil prices have only had a ‘modest’ impact on the US economy. But Bodman […]