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: Was It Just an Oil Bubble?
Posted on October 13, 2008
Crude oil futures rebounded Monday from their 13-month low and went above $81 on hopes that European action will stabilize the economy, even as Goldman Sachs slashes its forecasts for oil from $115 to $70 a barrel by the end of the year, Bloomberg reports. Meanwhile, Chinese crude-oil imports reach a record level in September thanks to lowish prices, also in Bloomberg.So is crudes recent drop the end of the oil bubble? asks Market Beat. It could just be a temporary reprieve in a relentless upward trend, says R-Squared. Some analysts believe oil prices have already overshot on the downside, in ...
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