BERLIN—Germany’s economy shrank by 0.2 percent in the fourth quarter compared with the previous three-month period, official figures showed Monday. The performance by Europe’s biggest economy was worse than expected. Gross domestic product shrank for the first time since the first quarter of 2021 largely because of a decline in consumer spending, which had supported…
German Economy Shrank 0.2 Percent in 4th Quarter, Worse Than Expected
Britishvolt Was ‘Highly Risky Project’ and Government Should Walk Away From It: Energy Expert
January 30, 2023
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Britain should give up on plans for gigafactories making batteries for electric cars and accept that it cannot compete with countries with lower labour costs, according to an energy expert. Britishvolt, a start-up that planned to build a huge factory in Blyth, Northumberland, went into administration earlier this month owing £100 million to creditors. Andy…
CCP Policies Create ‘Artificial’ Energy Crisis as Chinese Citizens Lack Winter Heating
China is going through an energy crisis as residents in several regions struggle to secure enough natural gas for heating during the winter season as government restrictions and a lack of funds curtail supplies. The shortage of natural gas is concentrated in rural and low-tier cities in northern China, where residents have been left in…
Oil Steadies as Rate Hikes Loom, Russian Flows Stay Strong
January 30, 2023
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LONDON—Oil steadied on Monday as looming interest rate hikes by major central banks and signs of strong Russian exports balanced rising Middle East tension over a drone attack in Iran and hopes of higher Chinese demand. Investors expect the Federal Reserve to raise rates by 25 basis points on Wednesday, followed the day after by…
Shares Shaky as Rate-Hike Week Looms
January 30, 2023
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SYDNEY/LONDON—Shares slipped on Monday at the start of an agenda-setting week for markets in which likely interest rate hikes in Europe and the United States, as well as U.S. jobs and wage data, will give markets a fresh update on the battle against inflation. Investors expect the Federal Reserve will raise rates by 25 basis…
Fuel Costs of Electric Vehicles Overtake Gas-Powered Cars: Study
January 28, 2023
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The cost to fuel electric vehicles in the United States is higher than gas-powered cars for the first time in 18 months, a consulting company said. “In Q4 2022, typical mid-priced ICE (Internal Combustion Engine) car drivers paid about $11.29 to fuel their vehicles for 100 miles of driving. That cost was around $0.31 cheaper…
World Economic Forum ‘Risk Management’ Report Takes Aim at Energy and Food
January 28, 2023
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Business & Marketsclimate change agendaDavos Agendaeconomic policieseconomyenergyenergy transition energy crisisesg agendafood crisisinflationSEC - U.S. Securities and Exchange CommissionUSUS NewsWorld Economic Forum (WEF)
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The climate and social justice movement is seeking to rebrand itself from a progressive ideology to a prudent tool for risk management. This not only allows it to frame its bleak vision of the future as a safety measure; it also allows its corporate and Wall Street adherents to claim they are not pursuing a…
Expanding Convenience Stores Bet on a Future with Gas Powered Vehicles
Despite government regulations pushing a future filled with electric vehicles (EVs), some large convenience store chains still see gas in the future. Pennsylvania-based Rutter’s plans to build 50 new gas station/convenience stores over the next five years in Pennsylvania, Maryland, Virginia, West Virginia, and Delaware, the company announced this week. Rutter’s currently has 84 locations….
Against Biden Admin Wishes, House Votes to Limit Strategic Petroleum Reserve Release
January 27, 2023
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After a lengthy debate over numerous amendments, and despite the Biden administration’s promise of a veto, the Republican-controlled House of Representatives passed a bill on Jan. 27 limiting the Biden administration’s ability to draw from the nation’s oil stockpile. First introduced on Jan. 26, the Strategic Production Response Act passed 221–201. The measure is unlikely to clear…
Oil Prices Firm on Upbeat US Economic Data
January 27, 2023
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LONDON—Oil prices rose for a second session on Friday, buoyed by stronger-than-expected U.S. economic growth, strong middle distillate refining margins, and hopes of a rapid recovery in Chinese demand. Brent futures gained $1.15, or 1.3 percent, to $88.62 a barrel by 0930 GMT. U.S. crude also rose by 1.3 percent, gaining $1.01 to $82.02. Both…
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