High gas prices suggest the U.S. is close to a recession, Joe Petrowski told CNBC.
"Energy prices as they approach 17 percent of (gross domestic product) is a wall," the CEO of Cumberland Gulf Group, said Wednesday. "Not only do we have high gasoline prices, whether it’s $4 or $4.10 [a gallon], there’s no question for the growing economy it would be better to have energy prices 12 percent to 13 percent of GDP."