German Economics and Labor Minister Wolfgang Clement again rang the alarm bells about high oil prices Tuesday. In the text of a speech for delivery at an automotive conference in Dresden, Clement said that oil prices are taking their toll on the economy - crude oil futures have been trading around $60 a barrel recently. "We regard with great concern the development of oil prices and therefore consumer and particularly gasoline prices," Clement said in the text of the speech. "The reasons are known - a surge in demand from countries such as China, India, insufficient refinery capacities in the U.S., political uncertainties and, as a consequence thereof, resulting speculation."