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Climate Talks End In Copenhagen Accord; Countries Settle On Non- Binding 2 ÂșC Warming Limit

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In the end, 188 countries voted in favor of the motion, with Cuba, Bolivia, Sudan, and Venezuela voting against it. Developed countries would reach agreement with emerging economies such as Brazil, China, and India as to whether or not emerging economies should set emissions reduction targets.

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Strong Dollar Could Cap Oil Prices

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Argentina, Brazil, Turkey and South Africa have seen significant depreciations in their currencies this year. Because China is a voracious consumer of commodities, including crude oil, the compounding effect of a slowdown in the Chinese economy and a weaker yuan creates new headwinds for the oil market.