Diesel prices have spiraled out of control in energy markets this year. A gallon of diesel on average costs $5.554, up 75 percent from a year ago and just short of the record high of $5.58 that was posted last week, according to AAA. Prices are trending higher in the U.S. Northeast. In New York, the average…
Saudi Arabia Signals Backing for Russia in OPEC+
May 23, 2022
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Saudi Arabia has signaled its support for Russia as a continued member of the OPEC+ oil cartel, which comes amid ongoing Western pressure to sanction and isolate Moscow over the Ukraine invasion. Prince Abdulaziz bin Salman, the energy minister of Saudi Arabia, told the Financial Times in an interview published on May 22 that he sees…
Oil Firms on Tight Supply as US Driving Season Looms
LONDON—Oil prices gained on Monday with U.S. fuel demand, tight supply, and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown that fuelled worries about a sharp slowdown in growth. Brent crude futures rose $1.12 or 1 percent to $113.67 a barrel at 0912 GMT, while U.S….
World Shares Mixed as Wall Street Hovers Near Bear Market
World shares were mixed in cautious trading Monday after Wall Street dipped once again to the edge of a bear market. Benchmarks rose in Frankfurt, London, and Tokyo and fell in Paris and Hong Kong. U.S. futures and oil prices rose. Investors were awaiting minutes from the latest policy setting meeting of the Federal Reserve…
Big Cities’ Climate Lawsuits Against Big Oil Scrutinized
May 20, 2022
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Business & EconomyclimatecommoditiesCompaniescongressDemocratseconomic policieseconomyEnvironmentEPAExecutive BranchJudiciarylawsuitsMarketsOilPolicies & ImpactsPoliticsRepublicansScienceUSUS News
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A recent wave of government climate change lawsuits against oil and gas firms may prove deeply harmful, actually inhibiting the growth of new, greener technologies by diverting resources that would otherwise fuel innovation, according to a May 16 issue brief from the Pacific Research Institute (PRI). “There are many serious adverse consequences from state and…
House Passes Fuel Price-Gouging Bill
May 19, 2022
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Business & EconomycommoditiescongressDemocratseconomic policieseconomyEnvironmentExecutive BranchgasolinehouseinflationMarketsPolicies & ImpactsPoliticsprice-gougingRepublicansScienceUSUS FeaturesUS News
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The House of Representatives passed the Consumer Fuel Price Gouging Prevention Act, by a vote of 217-207 on May 19, taking the country closer to greater government involvement in energy markets as gasoline prices soar to new heights. The bill, H.R. 7688, would let President Joe Biden declare an “energy emergency.” Such an emergency would…
House Passes Fuel Price-Gouging Measure
May 19, 2022
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Business & EconomycommoditiescongressDemocratseconomic policieseconomyEnvironmentExecutive BranchgasolinehouseinflationMarketsPolicies & ImpactsPoliticsprice-gougingRepublicansScienceUSUS FeaturesUS News
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The House of Representatives passed the Consumer Fuel Price Gouging Prevention Act by a vote of 217–207 on May 19, moving the country closer to greater government involvement in energy markets as gasoline prices soar to new heights. The legislation, H.R. 7688, would allow President Joe Biden to declare an “energy emergency.” Such an emergency…
Gas Prices Expected to Surpass $6 per Gallon Nationwide by August: JPMorgan Analysts
The average price for a gallon of regular gas nationwide is expected to exceed $6 by the end of summer 2022, after surpassing $4 per gallon in all 50 states on May 17. Prices could surge another 37 percent by August to an estimated national average of $6.20 per gallon, according to a note from JPMorgan analysts…
‘ESG Is a Scam’: New GOP Voter Elon Musk
May 18, 2022
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Big Tech, Censorship, and SocialismBusiness & EconomycommoditiesCompaniescryptocurrencyeconomyElon MuskESGFeatured TopicsGOPInvestmentMarketsMedia & Big TechPoliticsRepublicansteslaUSUS FeaturesUS NewsWorld
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Elon Musk called the environmental, social, and governance (ESG) scoring “a scam” in a series of Tweets on May 18, citing S&P Global’s inclusion of ExxonMobil Corporation in its ESG Index while his own electric car company, Tesla Motors, was removed. “Exxon is rated top ten best in world for environment, social & governance (ESG)…
Elon Musk Calls ESG ‘A Scam’ After S&P Index Drops Tesla
May 18, 2022
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Big Tech, Censorship, and SocialismBusiness & EconomycommoditiesCompaniescryptocurrencyeconomyElon MuskESGFeatured TopicsGOPInvestmentMarketsMedia & Big TechPoliticsRepublicansteslaUSUS FeaturesUS NewsWorld
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Elon Musk called the environmental, social, and governance (ESG) scoring “a scam” in a series of Tweets on May 18, citing S&P Global’s inclusion of ExxonMobil Corporation in its ESG Index while his own electric car company, Tesla Motors, was removed. “Exxon is rated top ten best in world for environment, social & governance (ESG)…
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