The crude oil price continues to fall, but still stood near the level of 70 dollars per barrel. This is happening against a background of very sharp movements in the 3-4% upward and downward direction. During the exchange session in New York yesterday, the price of black gold fell 2.1 percent to 68.75 dollars, while during the session to losing more than 4 percent of its value. This morning, however, quotations with advancing 0.64 percent to 69.39 dollar after early night again were over the threshold of $ 70 a barrel. The main reason for the sharp drop in the price of black gold during yesterday’s trading session was a sharp setback for the euro against the dollar. This limited interest in investing in raw materials and pushed down their prices. The reason for the deletion of the losses in oil prices gave the report of the American Petroleum Institute gasoline stocks, which last week rose unexpectedly to 3.19 million bbl. This gave the effect of speculation that demand for fuel is increasing, supporting quotations.
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70% of companies with revenue of $ 1 billion or more plan to increase spending on initiatives related to climate change in the next two years, according to global study commissioned by Ernst & Young and said. Nearly half of 300 directors of companies surveyed said that their investments related to climate change will vary from 0.5% to over 5% of their revenues by 2012. 82% of respondents indicated that they plan to invest in energy efficiency over the next 12 months, while 92 percent believe that energy costs will be an important factor during this period. The heads of companies commit to taking action, although said that complying with different regulations in different countries will be a challenge. The fact that 70% of company bosses are planning to spend more for programs related to climate change is “one of the amazing discoveries, the study indicates Melanie Steiner of Ernst & Young. Despite regulatory uncertainty on climate change “companies really take action because they see that this is a business issue and opportunity to generate new revenue,” said Steiner. While action to tackle the consequences of climate change in the past been a question in the field of public relations today are able to make money through new services and products, savings through better efficiency and reducing the risk, she adds.
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