Will the economic crisis affect the environment?

How will the economic crisis affect the environment? I don’t know. But we have several speculations:

On the “positive” side:

1. Falling oil prices will decrease the need for drilling in Alaska.

2. A global slowdown will decrease consumption rates for all products, including paper and wood, and therefore may lead to a slightly slower rate of deforestation.

But on the other side:

3. Public concern as well as federal funds will now be diverted from other sources to handle the financial crisis, and this include less attention and funds to global warming and other environmental causes.

Is any of this actually going to happen? Time will tell.