Gas prices at the pump rose over the past week in the wake of higher oil prices, with experts foreseeing more increases as long as oil costs remain elevated. The national average price for regular gas has risen by $0.08 over the past week, from $3.58 a gallon to $3.66 a gallon as of April…
China’s ‘De-dollarization’ Efforts Are Part of a Strategy to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaCompaniesDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
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A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of China’s strategy to gain influence over global…
China’s ‘De-Dollarization’ Efforts Are Part of Strategy to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
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News Analysis A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of the Beijing regime’s strategy to…
China Seeks to Dethrone Dollar to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
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News Analysis A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of the Beijing regime’s strategy to…
White House Slams OPEC. Really?
Commentary Have you ever read a headline that struck you with amazement and caused you to think, “Did they really do that?” That was my reaction when I read the headline in The Wall Street Journal, “U.S. Takes Aim at OPEC for Oil Production Cuts.” Specifically, the White House denounced OPEC+’s announcement of their intention…
Saudi Arabia Rejects White House Criticism of Oil Output Cuts, Says US Asked for Delay Until Midterms
The Saudi Arabian government on Wednesday night rejected White House criticism over a decision by a cartel of key oil-producing countries to cut production of the much-needed resource and confirmed the Biden administration requested it delay until after the U.S. midterm elections. Saudi Foreign Minister Prince Faisal bin Farhan Al Saud also accused the U.S….
LIVE NOW: OPEC+ Weighs Biggest Output Cut Since 2020; UK Makes U-Turn on Tax Cuts Amid Backlash | NTD Business
The U.N. is warning the world’s central banks their efforts to fight inflation by raising interest rates risk plunging the world into recession. The fight against inflation could get even more difficult as OPEC+, against President Joe Biden’s wishes, may cut oil production. The UK reverses its ambitious tax plan. After 10 days of fierce pressure, Britain’s finance…
OPEC+ Weighs Biggest Output Cut Since 2020; UK Makes U-Turn on Tax Cuts Amid Backlash | NTD Business
The U.N. is warning the world’s central banks their efforts to fight inflation by raising interest rates risk plunging the world into recession. The fight against inflation could get even more difficult as OPEC+, against President Joe Biden’s wishes, may cut oil production. The UK reverses its ambitious tax plan. After 10 days of fierce pressure, Britain’s finance…
Massive Jump in Regional Gas Prices Pull Up National Average as Refinery Issues Send Prices Soaring
October 3, 2022
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Business & Marketsclimate change agendaeconomyenergyhigh gas pricesinflationMarketsOil RefineriesOPEC oilUS
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U.S. national average gas prices have risen in the past week, with states such as Washington, Alaska, Oregon, and California seeing prices jump by more than ¢40 a gallon, according to oil analyst Patrick De Haan. “For the second straight week, average #gasprices have risen, the national average is up ¢8.40 per gallon from a…
The Oil Market Is Tighter Than You Think
Commentary In the past three months, oil prices have corrected dramatically as global oil demand has eased and concerns about a Chinese slowdown have added to a possible European recession. The picture of demand growth may be weakening, but the global supply-demand balance remains tight, and years of underinvestment may bring elevated oil prices for…
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