EcoPulse survey:Majority of US consumers stop buying products from polluting company

U.S. consumers may not agree on what (or who) is causing global warming, but nearly three-quarters say they would stop buying products from a known corporate polluter, according to a new Eco Pulse survey.When consumers were asked what they would do if a company had received a government fine for failing emissions standards or for polluting a nearby river, 44% said they would likely stop buying products from that company - and 28% said they would not only stop buying but also encourage their friends to do the same. Just 28% said they would likely keep buying that company's products anyway.

"How much these stats play out in reality has a great deal to do with the level of negative media coverage associated with a corporate environmental slip-up," says Suzanne Shelton of the Shelton Group, which conducts the annual Eco Pulse survey. "Nonetheless, companies should take note that - given today's public standards - they stand to risk a great deal with their customer base if they encounter an environmental performance crisis."

Climate change proved a polarizing issue among consumers, with 57% of survey respondents agreeing that global warming is a made-made phenomenon and 43% either disagreeing or saying they weren't sure.

The survey also exposed a divide among consumers in terms of what they think makes a company green. When asked to identify the standard by which they judge a company to be green, 69% chose "a company that uses renewable energy, has zero waste in their manufacturing process and produces green products," while 52% said any company that recycles can be considered green.

In addition, just because a company makes a green product doesn't mean it will be perceived as green if its manufacturing plants are not. Only 4% of respondents chose as green "a company that has manufacturing plants contaminated with chemical waste, but manufactures wind turbines to produce green power."

Link Eco pulse

Oil prices ease on US crude report

Oil prices levelled off in Asian trade on Thursday after dropping almost $2.50 in New York following news of an increase in US crude stockpiles, dealers said. New York's main oil futures contract, light sweet crude for August delivery, dipped 20 cents to $134.35 a barrel. It lost $2.45 to 134.55 on Wednesday at the New York Mercantile Exchange. After five consecutive weeks of decline, US domestic crude stockpiles climbed by 800,000 barrels to 301.8 million, the US Department of Energy said. The consensus forecast was for a drop of 1.1 million barrels. But analysts said there were still concerns about crude supplies which were supporting prices. "The (US) report was bearish. However, pricing only pulled back moderately... simply because of supply-side concerns," said Victor Shum of Purvin and Gertz energy consultancy in Singapore. Brent North Sea crude for August fell 25 cents to $134.08 a barrel after sliding $2.13 to settle at 134.33 yesterday in London. Oil prices have almost doubled over the past year, and hit record highs of close to $140 last week. Shum said the market can expect continued choppiness on a high price level. "The bullish trend in oil remains intact," he said. Among the main concerns are unrest in major African producer Nigeria, and tensions between Israel and the world's fourth-largest oil producer Iran. Anglo-Dutch oil giant Shell said on Tuesday it had resumed operations in a Nigerian oilfield that had been halted after an attack by militants last week cut output by 200,000 barrels a day.
Link Times of India

No magic wand to curb oil prices overnight: US

Amidst soaring oil prices posing a threat to the world economy, the United States has said there is "no magic wand" to solve the problem overnight. "There's no magic wand. It's not going to be a problem that we solve overnight. I don't think anybody anticipated that this (Jeddah) conference was going to have an immediate impact on price or on the stock market," the White House Press Secretary Dana Perino said at her press briefing. Perino was asked to comment on the recently concluded Ministerial conference in Saudi Arabia's Jeddah where in spite of a pledge of upping production there has been no let up in the prices of oil. "What we need to do is take a longer-term view, make sure that we are sending a signal to the market that we want to increase supply here in our own country, as well as continuing on our conservation efforts to decrease demand so that we can get this balance back in place. "The important thing to do in regards to the long-term planning is to send a signal to the markets so that they know that this time the government of the United States is serious," she said. "For several of the energy debates over the past decades the answer has been, No, let's just continue to get more oil from overseas and not focus on the conservation efforts. "But we've had over the past several years a concentrated effort to both bring down demand here in our own country by fuel economy, by lighting efficiencies and other things that we've done, even in the federal government, but in addition to that, looking for ways that we can increase domestic production here in our own country," she maintained.

Link PTI