Demonstrations have erupted in a number of countries as a response to the spike in oil prices that began after Russia launched a military invasion of Ukraine on Feb. 24. Crude oil hit a historic market high on March 7 when it reached $130 per barrel, which represented the most inflated figure since 2008. The…
Delta Airlines CEO Warns Domestic Fare Prices to Increase up to 10 Percent as Oil Prices Soar
Delta Airlines CEO Ed Bastian has warned that airfares for domestic flights in the United States could increase by 5 percent to 10 percent amid a spike in oil prices. Oil prices—already soaring in the United States—have been further exacerbated following Russia’s invasion of Ukraine and are now at 14-year highs. Bastian told the BBC in an interview published…
US Treasury Yields Push to New Highs as Fed Looks Set to Hike Rates
March 17, 2022
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LONDON—U.S. five and 10-year Treasury yields rose to their highest levels in almost three years on Tuesday, ahead of a widely-anticipated rate hike from the Federal Reserve. Five-year Treasury yields rose to as high as 2.149 percent, their highest since May 2019, while 10-year yields rose to 2.204 percent and were last up 2 bps…
US Energy Policies Created Financially Favorable Conditions for Russia’s Invasion of Ukraine: Rick Santorum
March 16, 2022
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Business & Economyeconomic policieseconomyEuropeExecutive Branchinvasion of ukranieKeystone PipelineMarketsoil pricesoil productionPolicies & ImpactsPoliticsRussiaRussia-Ukraine WarRussian oilUSWorld
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Weaknesses of the Biden administration’s energy policies became one of the decisive factors that prompted Russian President Vladimir Putin to invade Ukraine, said Rick Santorum, a former U.S. senator from Pennsylvania. War needs to be financed, and Russia relies on the revenue from the energy sector to fund its military and continue to feed its…
Dollar Firms as Oil Prices Moderate, Taking Momentum From Euro
March 16, 2022
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NEW YORK—The U.S. dollar index recovered after falling on Tuesday as volatile oil prices impacted the euro and markets grappled with the significance of talks between Russia and Ukraine and indications that COVID-19 lockdowns will crimp economic growth in China. The dollar index against major currencies was up less than 0.1 percent in the New…
Current Policies Inhibiting America’s Ability to Become Energy Independent: Jason Isaac
March 13, 2022
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The Biden administration has taken a “whole-government approach against the fossil fuel industry” making the nation less equipped to becoming energy independent, Jason Isaac from the Texas Public Policy Foundation told NTD’s “Capitol Report” on March 11. While the Environmental Protection Agency (EPA) is “standing on the accelerator to zero emissions,” the Biden administration is “colluding…
Unleash One-Two Punch of American Energy Power on Putin, Gas Prices
Commentary The entire civilized world is united against Russian President Vladimir Putin’s escalating aggression. We stand in solidarity with the people of Ukraine and support their brave defense of their democracy. I am also concerned for my constituents, who are grappling with record high gas prices. The national average price of gas has reached an all-time…
Brent Crude Hits $139 Per Barrel Following Challenges in Iran Deal and Potential Russian Oil Ban
March 7, 2022
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Brent crude oil prices breached $139 per barrel in early trade on March 7 due to the possibility of a ban on Russian oil exports as well as delays in a U.S.–Iran deal, which has been further complicated by the war in Ukraine. As it touched $139.13 a barrel, Brent crude prices broke through the…
UK, EU Gasoline Prices Spike to Record High Amid Russia’s Destabilization of Ukraine
February 23, 2022
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Gasoline prices in the UK and the EU have risen to new highs as the Russia-Ukraine crisis continues to hit oil prices, threatening to further push up heating bills in Europe. Most Five Eyes countries, several European nations, and Japan on Feb. 22 hit Russia with new sanctions for ordering troops into two separatist regions of…
Psaki Outlines White House Measures to Rein in Oil Prices
White House press secretary Jen Psaki on Tuesday outlined three steps that President Joe Biden is taking to address rising gas prices. This comes as consumers deal with increased costs at the pump. A year ago regular gas prices averaged $2.469 per gallon, while Americans were shelling out $3.469 as of Wednesday. Psaki said at…
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