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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Green Ink: Oils Down Again, and Venezuelas Hurting
Posted on October 10, 2008
Crude oil futures hit a one-year low Friday after tumbling to $81 on fears of rapidly falling global demand. Thats prompted the International Energy Agency to slash again its global oil demand forecast by 0.5%, both in Bloomberg.Lower oil prices are squeezing oil-producing countries to different degrees. Venezuela needs $95 oil for budget stability, while Saudi Arabia can live with $55 oil, highlighting internal differences within OPEC, in the WSJ. Luckily for Iran, it can still exploit regional price differences in natural gas, also in the WSJ. Chesapeake isnt so lucky: The U.S. gas producer ...
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