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. The Journal's Keith Johnson, who spent the past decade reporting from Europe, increasingly on energy issues, is the lead writer. The Journal’s Jeffrey Ball, who has covered the auto and oil industries and now covers the business of the environment, is the blog’s editor and a contributor. Environmental Capital also includes contributions from others at the Journal, WSJ.com, and Dow Jones Newswires.
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Oil Prices: A Year After a Record $145, Gloom Prevails
Posted on July 02, 2009
Friday is the one-year anniversary of crude oils record close of $145 a barrel. But commodity traders were in no mood for a party.Associated PressNo anniversary party for him.Oil prices dropped more than $2 a barrel to below $67 in trading in New York Thursday, beaten down by dismal economic news and word that the Organization of Petroleum Exporting Countries discipline is shaky. First news out of the U.S., the worlds largest consumer of crude oil: the unemployment rate is up to 9.5%, the highest since Ronald Reagans first term in office; and the federal government reported payrolls tumbled. O...
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