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.
Visit WSJ.com: Environmental Capital
Cheap Oil: Crude Dips Below $80; How Low Can It Go?
Posted on October 10, 2008
Bears have taken over the oil patchat least for now.Crude futures dipped below $80 a barrel this morning before rebounding slightly. But crude is still down more than $5 on the day, due to fears oil demand will seize up in the coming economic slowdown.The bears are feeding themselves (AP)Thats prompted the International Energy Agency in Paris to again slash its estimates of the growth in oil demand. The IEA, the energy arm of the rich-country club OECD, figures demand will only grow 0.5% this year and 0.8% next year, well off earlier, rosier forecasts. But despite all the economic gloom, the I...
Original article link
Subscribe to WSJ.com: Environmental Capital