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Oil Has a Reality Check for Those Elated by the Climate Deal

  • Fossil-fuels are cheap, complicating greenhouse-gas fight
  • IEA says $800 billion in energy savings at risk by 2040
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Oil Producers Turn to Banks Amid a Pricing Rout

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For anyone elated by the climate-change accord in Paris, the commodity markets have a reality check for you.

World leaders may have vowed to wean the world from fossil fuels, but prices for oil, coal and natural gas are at their lowest in years. Crude, which touched an 11-year low Monday, will probably decline even more with the U.S. ending its 40-year ban on oil exports.