European energy companies are requesting at least 1.5 trillion euros in government liquidity to cover their margin calls following Russia’s cut-off of gas supplies to Europe which caused costs to soar, according to Norway’s utility firm Equinor. Firms in Britain were not included in the Norwegian power company’s estimates. Several EU nations are already providing…
European Power Companies Demand Subsidies as Russian Gas Is Cut Off From Most of Europe
September 7, 2022
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Business & Marketseconomic policieseconomyenergyenergy crisisEuropeGazpromGermanyinflationmargin callsMarketsRussia-Ukraine WarWorld
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Capitol Report (Sept. 6): WH Defends Attacks on ‘MAGA Republicans’; County Commissioner Removed Over J6
September 6, 2022
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CaliforniaCapitol ReportDOJDonald Trumpenergy crisisEpochTVEuropeJanuary 6thJoe Bidenmaga republicansminimum wageNew Mexicopro-unionSenatespecial masterUSUS News
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Which group of people does Biden consider MAGA Republicans? The White House gives an answer while trying to defend the president’s recent remarks that many criticize as divisive. The Senate is back in session, and funding the government is now a top priority. How much new spending has the White House requested? And will Democrats…
Europe Bracing for Recession as People Struggle With Increasingly High Cost of Living
Europe is showing signs of heading into a recession as multiple economic surveys show the region’s services and manufacturing sectors slowing down while a large number of the continent’s citizens are struggling to cope with rising prices. The S&P Global Eurozone Composite Output Index fell to an 18-month low in August at 48.9, according to…
Europe’s Folly Leaves It Facing a Destabilizing Energy Crisis
Commentary Russian expansionism is a reality, and the dimensions of Europe’s looming energy crisis are broader and deeper than European Union leaders anticipated when the Ukrainian invasion began in February. Natural gas prices are now nearly 10 times higher than their prior 10-year average. Coincidentally, they’re also about 10 times costlier than in the United States. “This…
Europe’s Power Price Breaks €1,000 for First Time, Costs Up 1,000 Percent From Last Year
August 29, 2022
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Business & Marketseconomic policieseconomyenergyenergy crisisEuropeFranceGermanyMarketsRussia-Ukraine WarRussian sanctionsWorld
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German energy prices, the European benchmark, hit €1,000 per megawatt-hour (MWh) for the first time on Aug. 29, after reaching €850 on Aug. 26, as the region’s energy crisis intensifies owing to a lack of Russian natural gas supplies as result of the sanctions against Russia. Energy costs in Europe have soared 1,000 percent from…
Is the Food and Energy Crisis Fueling the Recession?
News Analysis If more households are spending on food and energy, will they modify their consumption patterns? With consumer demand gradually weakening and business activity slowing down, the consequences of surging food and energy inflation might be weighing on the broader economy. But what are the data showing and how are higher food and energy…
Markets Fear Food and Energy Crisis Fueling Recession
News Analysis If more households are spending on food and energy, will they modify their consumption patterns? With consumer demand gradually weakening and business activity slowing down, the consequences of surging food and energy inflation might be weighing on the broader economy. But what are the data showing and how are higher food and energy…
How Food and Energy Crises Contribute to Economic Downturn
News Analysis If more households are spending on food and energy, will they modify their consumption patterns? With consumer demand gradually weakening and business activity slowing down, the consequences of surging food and energy inflation might be weighing on the broader economy. But what are the data showing and how are higher food and energy…
US Gasoline Prices Are Expected to Jump Again, Says Bank of America
Despite gas prices falling to their lowest levels in weeks this month, Americans likely will face another spike at the pump toward the end of 2022, due to resiliently high demand, as global oil supplies continue to fall, warned Bank of America (BofA) economists. U.S. gasoline prices have fallen to $3.90 a gallon in the…
China’s Electricity Crisis Worsens as More Factories Suspend Operations During a Lingering Heatwave
August 18, 2022
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Business & MarketsCCP VirusChinaChina Business & EconomyChinese RegimeCompanieseconomic policieseconomyenergyenergy crisisMarkets
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China’s power crisis has worsened as more factories shutter while an extreme heatwave spreads across southwestern China, according to a report from Nikkei Asia on Aug. 17. The municipal authorities in Chongqing ordered all factories, including foreign-owned factories, to suspend operations through Aug. 24, in order to conserve power as the heatwave causes a surge…
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