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Oil and gas companies, which account for 60 percent of U.S. carbon emissions, and about 84 percent of fossil fuel market cap, have fared much better. Publicly traded oil and gas companies have access to only 10 percent of the world’s oil reserves. Readily accessible, inexpensive crude reserves in places like Russia and the Persian Gulf are set aside by governments for their own national oil ... Read News
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Oil Rout Set To End As Demand Trumps China, Greece Woes
Oil’s biggest slump in four years will lose momentum because the plunge in Chinese equities and Greece’s economic crisis won’t dent global demand, according to Morgan Stanley, UBS Group AG and Societe Generale SA. Crude is set for a “modest recovery” after declining 13 percent in the five sessions through Wednesday, Morgan Stanley estimates, while demand will push prices up by year-end ... Read News
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Denbury Resources (DNR) Stock Tumbling With Sliding Oil Prices
NEW YORK (TheStreet) -- Denbury Resources stock is slumping 2.9% to $5.32 on Friday with declining oil prices amid slowing demand, according to the International Energy Agency (IEA), The Wall Street Journal reports. The agency said that crude prices could decline again as the world's supplies from the Middle East, Russia, and the U.S. are at or near highs, the Journal noted. Crude oil (WTI) is ... Read News
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