News Analysis Energy prices are soaring everywhere, prompting governments to consider support measures to mitigate the financial strain put on consumers’ wallets. But these costly policy tools could add to inflationary pressures and hinder central banks’ tightening efforts, says one market analyst. Federal and state governments are still exploring various mechanisms that could be employed…
Government Support to Cushion High Gas Prices Could Add to Inflation Pressures
Gas Prices Edge Down as Washington Announces Release From Oil Reserves Again, ‘Band-Aid’ Solution Claims Analyst
Gas prices in the United States edged down in the recent week as stocks increased, demand decreased, and the Biden administration announced an “unprecedented” release of oil from the country’s strategic reserves. The price of regular gas averaged $4.18 as of April 4, down 1.3 percent from a week ago when prices were averaging $4.24,…
Ontario to Introduce Legislation to Cut Gas, Fuel Taxes
The Ontario government is introducing legislation to cut gas and fuel taxes this summer, bringing some relief for residents amid rising fuel prices. If passed, it would introduce a temporary six-month tax cut, reducing the gas tax by 5.7 cents per litre and fuel tax by 5.3 cents per litre, effective from July 1 to Dec….
Chicago Distributing $12.5 Million in Transportation Relief for Low-Income Residents as Gas Prices Soar
Chicago is planning to distribute $12.5 million in transportation relief for low-income residents in an effort to combat increasing gas prices in the state, Mayor Lori Lightfoot announced on March 31. The announcement of the program, called Chicago Moves, comes as gas prices continue to soar across the United States leaving Americans forking out more at the pump….
Capitol Report (March 31): Hunter Biden’s deal with CCP backed energy firm
March 31, 2022
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Capitol ReportChinaChinese Communist PartyDonald TrumpFederal Election Commissiongas pricesHunter Bidenillegal immigrantsinsulinJoe BidenNews VideosUSUS News
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In a bid to ease the burden of rising gas prices, President Joe Biden announced the biggest ever release of U.S. emergency oil reserves. What will the long-term impacts be and will it lower gas costs in the near future? The top U.S. trade negotiator is saying to turn the page on the old playbook, as…
Sen. Paul Suggests Probe on Potential Russian Collusion With US ‘Green Alarmists’
March 30, 2022
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Business & Economyeconomic policieseconomyenergyEuropeExecutive Branchgas pricesPoliticsRand PaulRepublicansRussiaUSUS NewsWorld
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In the wake of soaring gas prices and Western sanctions on Russia, Sen. Rand Paul (R-Ky.) suggests it might be worth investigating whether the Russian government is backing “green alarmists” who advocate against projects that could boost energy production in the United States. During an appearance on Newsmax TV, Paul was asked about a theory…
Ukraine Crisis Likely to Slow Global Economic Growth, Yellen Says
March 27, 2022
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Business & Economycommoditieseconomic policieseconomygas pricesinflationJanet YellenMarketsRussia-Ukraine crisis
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WASHINGTON—The Russia–Ukraine crisis is driving up commodities prices and is likely to reduce prospects for global growth in the coming year, U.S. Treasury Secretary Janet Yellen warned on Friday. Ukraine is a major global supplier of wheat and corn, and prices have surged since Russia invaded its Eastern European neighbor last month. “We are seeing…
Shutting Down Canadian Pipeline Would Cost US Consumers $23.7 Billion More in Fuel Costs: Report
March 26, 2022
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anti-pipelineCanada oil importseconomyEnbridge Line 5Environmentgas pipelinegas pricesGreat LakesIndianainflationLocal NewsMichiganOhioOntarioPolicies & ImpactsPoliticsRegional-Local NewsScienceUSUS NewsWisconsin
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A recently published analysis by a consumer advocacy nonprofit maintains that shutting down a 4.5-mile section of a nearly 70-year-old pipeline that spans the Great Lakes from Wisconsin to Ontario would impose $23.7 billion in higher fuel costs for families and businesses in Indiana, Michigan, Ohio, and Pennsylvania. Consumer Energy Alliance’s (CEA) 14-page report estimates…
Shutting Canadian Pipeline Would Cost US Consumers $23.7 Billion More in Fuel Costs: Report
March 26, 2022
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anti-pipelineCanada oil importseconomyEnbridge Line 5Environmentgas pipelinegas pricesGreat LakesIndianainflationLocal NewsMichiganOhioOntarioPolicies & ImpactsPoliticsRegional-Local NewsScienceUSUS NewsWisconsin
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A recently published analysis by a consumer advocacy nonprofit maintains that shutting a 4.5-mile section of a nearly 70-year-old pipeline that spans the Great Lakes from Wisconsin to Ontario would impose $23.7 billion in higher fuel costs on families and businesses in Indiana, Michigan, Ohio, and Pennsylvania. Consumer Energy Alliance’s (CEA) 14-page report estimates that…
BC Drivers to Get $110 Rebate Amid Record-High Gas Prices
British Columbia’s public auto insurer will be giving drivers a one-time rebate to ease some pressure as gas prices hit a record high, Premier John Horgan announced March 25. Motorists will receive a $110 gas rebate if they had a basic auto insurance plan with the Insurance Corporation of British Columbia (ICBC) in February, while commercial…
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