21-Nov-2008 2:50 PM
Oil back below USD50 per barrel, is bio-fuel dead?
Analysis
Oil prices are now trading at levels not seen since May 2005, threatening the bio-fuel sector, as the economic news out of the world's biggest economy goes from bad to worse. The Conference Board reports the US Leading Economic Index decreased 0.8% in Oct-08 and stated the economy "is unlikely to improve soon, and economic activity may contract further in the near term".
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