Soaring gasoline and oil prices are encouraging many to seek out alternative fuel sources. One such means is ethanol, a clean-burning, high-octane fuel produced from crops such as corn. On April 25, 2006 President Bush announced a four-part plan to confront rising energy prices.
Fears of inflation and large U.S. budget deficits drove the dollar on Wednesday to its weakest level since August 2008 and helped push oil prices to their highest in more than a year.
Crude oil prices climbed to $77.58 a barrel Thursday, driven by the weakening of the U.S. dollar and rising optimism about prospects for a global economic recovery.