The Australian Labor government has said consumers would see energy bills eventually decrease as its gas and coal price caps take effect. This is despite reports indicating that many households will face steep price hikes in February. As gas companies and energy experts are speaking up about the negative impact of the $12 (US$8.27) per…
Australian Government Says Energy Bills Will Drop Despite Sharp Price Rises from Retailers
IEA Says Predicting Oil Demand to Hit Record High This Year on China’s Reopening
January 18, 2023
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Business & MarketsChinaChina Business & Economychinese lockdownseconomyenergyEuropeGold and CommoditiesIEAMarketsoil consumptionoil demandrecessionRussia-Ukraine WarUKUSWorld
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The International Energy Agency (IEA) says it predicts that demand for oil could reach record levels this year, given mainland China’s reopening of its economy. Demand for crude fell in the second half of 2022, as China’s ruling Chinese Communist Party (CCP) maintained its “zero-COVID” policy stance. The combination of mild weather and weaker industrial…
World Economic Forum Wants You to Trust Them
January 18, 2023
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Anti-trust lawsBig Mediablocking social mediaBusiness & MarketsDavos Agendaeconomic policiesenergyESGinflationInternationalWorldWorld Economic Forum (WEF)
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One of the central themes of the World Economic Forum summit this week is “restoring trust”; this initiative comes at a moment when progressive corporate organizations such as the WEF are being scrutinized for violating U.S. antitrust laws. A WEF panel discussion called “Disrupting Distrust” featured speakers from Mastercard, the United Way, and Consumers International,…
In Davos, World Economic Forum Reflects on Loss of Trust
January 18, 2023
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Anti-trust lawsBig Mediablocking social mediaBusiness & MarketsDavos Agendaeconomic policiesenergyESGinflationInternationalWorldWorld Economic Forum (WEF)
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One of the central themes of the World Economic Forum summit this week is “restoring trust”; this initiative comes at a moment when progressive corporate organizations such as the WEF are being scrutinized for violating U.S. antitrust laws. A WEF panel discussion called “Disrupting Distrust” featured speakers from Mastercard, the United Way, and Consumers International,…
Russia Posts Record Current Account Surplus of $227 Billion in 2022
January 18, 2023
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Russia’s current account surplus hit a record high in 2022, the central bank said on Tuesday, as a fall in imports and robust oil and gas exports kept foreign money flowing in despite Western efforts to isolate the Russian economy. Russia’s current account—a measure of the difference between all money coming into a country through…
Oil Prices Gain Around 1 Percent on Optimism Over China’s Recovery
January 18, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Wednesday to their highest since early December on optimism that the lifting of China’s strict COVID-19 curbs will lead to a fuel demand recovery in the world’s top oil importer. Brent crude futures were up $1.21, or 1.41 percent, to $87.13 a barrel by 0942 GMT, while U.S. West Texas Intermediate…
World Shares Mixed, Yen Falls After BOJ Keeps Policy Intact
January 18, 2023
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BANGKOK—World shares were mixed Wednesday, with Tokyo gaining more than 2 percent after Japan’s central bank kept its lax monetary policy unchanged, dispelling speculation it would yield to pressure to tighten credit to counter rising inflation. Germany’s DAX lost 0.1 percent to 15,170.03 and the CAC 40 in Paris was down less than 2 points,…
Optimising Renewable Power: University Develops Map of Australia’s Renewable Potential
January 17, 2023
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To optimize renewable power by bridging the gap in knowledge between renewable companies and landowners, the Australian National University (ANU) has developed maps of Australia that identify places with wind and solar potential. In an email to The Epoch Times, Prof. Andrew Blakers, from the ANU College of Engineering, Computing and Cybernetics, said that the heat maps…
Saudi Arabia Considers Global Trade in Non-Dollar Currencies
Saudi Arabia, the world’s largest crude oil exporter, is considering trading in currencies other than the U.S. dollar, a kingdom official revealed. Mohammed Al-Jadaan, a Saudi minister of finance, told Bloomberg TV in Davos, Switzerland, on Tuesday that officials are open to potentially utilizing other currencies as the energy juggernaut bolsters relations with its strategic…
Britishvolt, Key to UK’s Electric Car Ambitions, Falls Into Administration
January 17, 2023
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Britishvolt, an electric car battery company once praised by former Prime Minister Boris Johnson, has fallen into administration and made the majority of its 300 staff redundant. The company had been promising to build a £3.8 billion gigafactory producing batteries for electric cars in Blyth, Northumberland. But the project ran into serious difficulties months ago…
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