Oil eased off four-month highs on Monday as doubts over oil producers reaching a meaningful output cut deal brought some speculators to unwind bullish bets. Global benchmark Brent crude futures LCOc1 were down 23 cents at $51.70 a barrel at 0848 GMT, more than 2 percent lower than the four-month high reached on Friday.
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Despite, deluges in the South, droughts in the West and fires throughout national forests this year, the words “climate” and “change” have seldom been uttered together on the campaign trail. Fifteen of the 16 hottest years on record have occurred since 2000. Yet Donald Trump has claimed that global warming is a Chinese hoax designed to thwart American businesses (he also denied saying so at the first debate between the candidates, on September 26th).
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The Paris climate change agreement to curb rising global temperatures moved closer to coming into force on Sunday, after India, the world’s fourth-largest emitter of greenhouse gases, formally signed on to the pact.
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UK Prime Minister Theresa May’s commitment to tackling climate change faces a stiff test as energy companies launch a lobbying drive ahead of the Autumn Statement to protect a contentious carbon tax blamed for hurting the steel industry and other power-hungry businesses.
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