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: Oil Falls Again, and Gazprom Visits Alaska

Posted on October 15, 2008

The latest rescue financial rescue plan wasnt enough to offset oil-market pessimism, with crude oil futures dropping to $77 Wednesday, Bloomberg reports. Fears the economic slowdown will be prolonged weigh heavily, analysts say: The global bearish sentiment is dominating. Expect OPEC to cut oil production by 1 million barrels per day, says PFC Energy, which figures $90 oil is OPECs comfort zone, also in Bloomberg.Falling oil means falling gasoline prices, which touched $3.16 in the U.S. amidst waning demand, the WaPo reports. Dont get your hopes up, says T. Boone Pickens in the Chicago Sun-...

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