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Sri Lanka Cabinet Offers To Resign As Out-Of-Control Inflation Sparks Widespread Social Unrest
Sri Lanka Cabinet Offers To Resign As Out-Of-Control Inflation Sparks Widespread Social Unrest Update (1535ET): Bloomberg reports that Sri Lanka’s cabinet has submitted its resignation, a ruling party member said, amid rising public anger about the government’s economic policies that have led to soaring living costs and a foreign exchange crisis. “We gave resignations to the Prime Minister […]
Gazprom Halts Gas Shipments To Europe Via Critical Pipeline
Gazprom Halts Gas Shipments To Europe Via Critical Pipeline After European nations imported the most gas from Russian sources yesterday in months, scrambling to stock up on supplies as Russian President Vladimir Putin’s deadline to either pay for gas in rubles (or be cut off) came and went, Russian gas giant Gazprom has officially halted all deliveries to […]
“Fertilizer Is Out Of Control” – US Farmers Ditch Corn For Soy To Save On Costs
“Fertilizer Is Out Of Control” – US Farmers Ditch Corn For Soy To Save On Costs Fertilizer prices are at record highs following Russia’s invasion of Ukraine puts massive pressure on American farmers to transition to crops that need less fertilizer. A Bloomberg survey found that farmers will plant 2 million more acres of soybeans and about […]
Germany Scrambles To Ration Gas After Refusing To Make Payments In Rubles
Germany Scrambles To Ration Gas After Refusing To Make Payments In Rubles Now that Moscow has doubled down on its demands that its European “partners” pay for its oil and gas in rubles instead of euros (which, as the bloc already demonstrated, can be easily confiscated in the name of “sanctions”), the German government is digging […]
Unsafe Water Kills More People Than Disasters And Conflicts
Unsafe Water Kills More People Than Disasters And Conflicts Fewer people around the world lack access to basic drinking water services than when the data was last published in 2015. Yet, as Statista’s Katharina Buchholz explains below, several countries, especially in Africa, still have a way to go to provide their citizens with safe drinking water. You will […]
Kremlin Threatens To Halt Supplies As G7 Ministers Reject “Unacceptable” Demand To Pay For Gas In Rubles
Kremlin Threatens To Halt Supplies As G7 Ministers Reject “Unacceptable” Demand To Pay For Gas In Rubles Update(9:01ET): Russia on Monday has issued a firm and unyielding response to G-7 ministers who had dismissed as “unacceptable” its plan to only accept ruble payments for Russian gas going to “unfriendly” nations. Earlier Monday German Economy Minister Robert Habeck […]
Demand Destruction Has Begun
Demand Destruction Has Begun One month ago, Brent jumped above $100/bbl for the first time in eight years as Russia executed a full-scale invasion of Ukraine, and it became clear that western governments would impose sanctions. The oil market has been in triple digits for practically the entire time since. And, after a month of […]
“Stock-Outs” Begin: Austrian Energy Giant Limits Diesel Spot Sales Until Further Notice
“Stock-Outs” Begin: Austrian Energy Giant Limits Diesel Spot Sales Until Further Notice Earlier this week, we quoted the heads of some of the world’s biggest independent energy trades, who spoke at the FT Commodities Global Summit in Lausanne, Switzerland and unveiled a dire forecast for the diesel market: “The thing that everybody’s concerned about will be diesel […]
First Look At Tornado Damage In New Orleans; 1000s Without Power
First Look At Tornado Damage In New Orleans; 1000s Without Power As the sun comes up Wednesday morning in New Orleans, many folks are waking up to vast amounts of destruction after a tornado touched down on Tuesday night. Local news WDSU reports a tornado ripped through parts of St. Bernard Parish, which borders New Orleans to […]
Largest California Refinery Hit With Strike Amid Record-High Gas Prices
Largest California Refinery Hit With Strike Amid Record-High Gas Prices Hundreds of Chevron Corp. refinery workers in the San Francisco Bay Area went on strike Monday following a breakdown in talks between the oil major and the United Steelworkers (USW) union on a contract agreement. At least 500 workers at a gasoline, diesel, jet fuel, […]
“Gas Stations Will Run Dry”: Catastrophic Scenario For Diesel Emerging According To World’s Biggest Energy Traders
“Gas Stations Will Run Dry”: Catastrophic Scenario For Diesel Emerging According To World’s Biggest Energy Traders While the world has been obsessively focused on crude oil and gasoline in recent weeks, we instead alerted readers to a far more dire scenario playing out in diesel, a source of energy which is absolutely critical in keeping […]
WEF Issues Ominous Warning Over Coming Food Crisis, Recommends ‘More Sustainable Diets’
WEF Issues Ominous Warning Over Coming Food Crisis, Recommends ‘More Sustainable Diets’ Did you see the ratio Bloomberg just earned for a tweet which recommends getting used to lentils instead of meat, switching to public transportation, and avoiding buying things in bulk? The piece, written by economist Teresa Ghilarducci, recommends that families earning under $300,000 per year consider switching to […]
NOAA Warns US Megadrought Will Persist; May Impact Food Supply Chains
NOAA Warns US Megadrought Will Persist; May Impact Food Supply Chains Abnormally dry to exceptional drought conditions are expected to persist across 60% of the continental U.S. as spring in the Northern Hemisphere begins. Forecasters expect little to no rain for certain parts of the western U.S. through June. From April to June, above-average temperatures […]
Food Supply Chains “Falling Apart” In Ukraine As “Imminent Famine” Risks Plague The World
Food Supply Chains “Falling Apart” In Ukraine As “Imminent Famine” Risks Plague The World On Friday, Jakob Kern, an emergency coordinator at the United Nations (UN) World Food Programme (WFP), warned Ukraine’s food supply chains were collapsing as Russia bombed key infrastructures such as roads, bridges, and trains. “The country’s food supply chain is falling apart. Movements of […]
World Economy Braces For Supply Chain Chaos As COVID Closes China
World Economy Braces For Supply Chain Chaos As COVID Closes China The global economy is in disarray as the war in Ukraine unleashed a commodity shock with increasing risks of stagflation. Adding to the turmoil is an outbreak of COVID-19 in China that may unleash another supply chain crisis. News from China over the last day […]
