City mayors and state and local lawmakers are calling for a temporary pause in ocean-floor work after an eighth dead whale washed ashore in New Jersey this week, reigniting the debate about the impact of offshore wind-farm development on marine life. The mayors are calling for an immediate halt to plans to build dozens of…
European Central Bank Raises Rates by a Half Percent, Vows Another Large Increase in March
February 2, 2023
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Business & Marketseconomic policieseconomyenergyEuropeEuropean Central Bankinflationinterest ratesMarketsrecessionRussia-Ukraine WarUKWorld
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The European Central Bank raised interest rates for the fifth consecutive time at its first meeting this year. The hawkish move in Europe is in contrast to the U.S. Federal Reserve, which slowed down its benchmark policy rate increase on Feb. 1, with a quarter-point hike. Central bank policymakers in Frankfurt vowed to continuing hiking policy…
Here’s Why Few Gas Stations Have EV Chargers
Americans are accustomed to refueling vehicles at any of the 128,000 convenience store gas stations around the country. A pit stop may include a bathroom break, snack, and in pre-GPS days, an employee who could offer directions. But charging an electric vehicle (EV) is a completely different experience. Charging stations are often unmanned and found…
Shell 2022 Profit More Than Doubles to Record $40 Billion
LONDON—Shell delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices allowed it to hand shareholders unprecedented returns. The British company’s record earnings, which more than doubled from a year earlier, mirror those reported by U.S. rivals earlier this week…
Oil Steady as Dollar Slumps and Russian Oil Products Ban Looms
February 2, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were steady on Thursday after tumbling in the previous session as a weaker dollar boosted sentiment, though looming sanctions on Russian oil products added uncertainty over supply. Brent crude futures fell 10 cents, or 0.1 percent, to $82.74 a barrel by 0937 GMT while West Texas Intermediate (WTI) U.S. crude futures advanced 1…
Global Stocks Rise After Fed Sees Inflation Improving
February 2, 2023
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BEIJING—Global stock markets and Wall Street futures rose Thursday after the Federal Reserve said the U.S. economy is moving toward lower inflation but more interest rate hikes are planned. London and Frankfurt opened higher. Shanghai and Tokyo advanced. Oil prices rose. Wall Street’s benchmark S&P 500 index rose after the Fed increased its key lending…
Bipartisan Bill Introduced to Protect US Strategic Petroleum Reserve
February 1, 2023
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Business & MarketscongressenergyNational SecurityPolicies & ImpactsPoliticsSen. Joe ManchinSen. Ted Cruz (R-Texas)Strategic Petroleum ReserveUSUS News
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Chairman of the U.S. Senate Committee on Energy & Natural Resources Sen. Joe Manchin (D-W.Va.), in a bipartisan effort led with Sen. Ted Cruz (R-Texas), on Wednesday introduced legislation to prohibit the Biden administration selling crude oil from the U.S. Strategic Petroleum Reserve (SPR) to China or any company controlled by China’s ruling Chinese Communist Party…
Japan Warns NSW Coal Reservation Scheme Could Undermine Relationship between Two Countries
February 1, 2023
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Japan has warned that its relationship with Australia could be jeopardised as a coal reservation scheme by the New South Wales (NSW) government risks cutting coal exports to the country. According to The Australian, Japanese Consul-General Tokuda Shuichi had written a letter to the NSW government to express the concerns of Japanese companies about the…
New DOL Rule Allows Retirement Money to Finance ESG Agenda
February 1, 2023
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Business & Marketseconomic policieseconomyenergyERISAESGInvestmentpension fundspersonal financeU.S. Department of LaborUS
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U.S. lawmakers are fighting back against a new Biden administration rule that allows retirement money to be invested according to environmental, social, and governance (ESG) criteria. Every GOP senator, plus West Virginia Democrat Joe Manchin, signed on to a disapproval resolution this week in protest of a Department of Labor (DOL) directive which went into…
Gallup Poll: Americans Say Government Is the Number One Problem Today
February 1, 2023
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big governmentBusiness & MarketsBusinesses in COVID-19Defeating "Big Government Socialism:"economic policieseconomyenergyindustrial policymistrust of governmentPoliticsSocial IssuesUS
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According to a recent Gallup poll, Americans say that government is their number one problem, beating out inflation for the top spot. In response to the question: “what do you think is the most important problem facing the country today?” 21 percent of Americans answered “Government,” up from 15 percent last year. According to Gallup’s…
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