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 Spike: Will a Financial Bailout Push Crude Back Up?
Posted on October 01, 2008
Congress might bail out more than just Wall Streetit could bail out OPEC, as well, keeping oil prices high and climbing into next year.Man the pumps (AP)Despite all the market turmoil and fears of the biggest bang since the Great Depression, crude oil has stubbornly stuck around $100 a barrel. Its most recent rebound came amid fresh hopes Congress would cobble together a bailout package, after earlier pessimism that the U.S. rescue package would be too little to save the economy.But one school of thought says that any sort of financial rescue package will shore up the worlds biggest economyand...
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