Energy prices fall on gloomy consumer sentiment

Energy prices plunged on Friday after the Reuters/University of Michigan index of consumer sentiment fell sharply in the first period of August. The index gave signals to traders that consumers will be tight on spending. Oil futures fell $1.81 to $68.71 per barrel in the New York Mercantile Exchange.

DOE deploys $119 Million more for clean energy projects

The U.S. Department of Energy continued to deploy funds from the stimulus package for energy efficiency and renewable energy projects. On Friday the agency's head Steven Chu announced $119 million for Alabama, American Samoa, the District of Columbia , Illinois, Maryland, North Dakota and Wyoming.

Senate's climate bill to give permits for free

The climate bill being written in the U.S. Senate will give away a substantial number of pollution permits worth billions of dollars for free to companies instead of selling them, a key Democratic senator was reported as saying, according to Reuters.