Environmental Capital provides daily news and analysis of the business of the environment. It tracks how growing green concern, particularly over climate change, is roiling established industries and spurring new ones – and how that shift is affecting investors, consumers and the planet.
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Oil Squeeze? Blame Yourself
Posted on September 03, 2008
The Journal's Russell Gold reports:When it comes to the price of crude oil and gasoline, who is in the drivers seat?One common answer is no one. The global oil market is so big and complex that no single factor can really impact prices. Others point fingers at the suppliers: Big Oil and OPEC. More recently, the U.S. Congress has zeroed in on the financial markets, in particular institutional investors who have poured money into the commodity futures market.All of this plays a role: the availability of supply, financial market interest in commodities, and dont forget the strength of the U.S. do...
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