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A recession indicator with a perfect record has been flashing red for 20 months. It may not be wrong yet.
A recession indicator with a perfect record has been flashing red for 20 months. It may not be wrong yet. Yuichiro Chino/Getty Images A recession indicator with a flawless record has been flashing red for 20 months. The economist behind the inverted yield curve says it’s too soon to declare it’s wrong this time. Campbell […]
America’s plastic catastrophe
America’s plastic catastrophe China stopped taking our plastic waste. Now we’re drowning in it. Americans produce 40 million tons of plastic waste each year. And it has to go somewhere. Carl Godfrey for BI America has long had a plastic problem. It’s an urgent question — what do we do with the 40 million tons of […]
Oil prices aren’t the Fed’s biggest problem right now — American demand is, says an economist
Oil prices aren’t the Fed’s biggest problem right now — American demand is, says an economist Inflation could see a resurgence in 2025, BlackRock strategists warned. Jonathan Kitchen/Getty Images “I think what’s difficult for the Fed currently is actually the part of CPI that is being driven by demand, rather than the supply issues or the […]
Drivers could see gas prices surge to nearly $7 a gallon in some US states as refinery issues bite supply and Chinese demand bounces back, GasBuddy says
Drivers could see gas prices surge to nearly $7 a gallon in some US states as refinery issues bite supply and Chinese demand bounces back, GasBuddy says Gas prices could top $4 a gallon in most major US states next year, GasBuddy says. (Photo by Steve Pfost/Newsday RM via Getty Images) Gas prices could surge toward […]
Crude oil could hit $125 a barrel as Russia’s reaction to a US-led price cap threatens to squeeze supply, UBS says
Crude oil could hit $125 a barrel as Russia’s reaction to a US-led price cap threatens to squeeze supply, UBS says Oil prices are ticking upwards again after falling for the past three to four months. George Frey/Getty Images UBS expects oil will hit $125 a barrel if Russia reacts to a planned G7 oil price […]
Germans told to stop whining, wear 2 sweaters and have candles and flashlights ready in case of blackouts this winter
Germans told to stop whining, wear 2 sweaters and have candles and flashlights ready in case of blackouts this winter Wolfgang Schäuble, former president of the German parliament, told Bild-TV that people should wear two sweaters this winter amid the energy crisis. Sean Gallup/Getty Images German politician Wolfgang Schäuble said on Bild-TV people should stop whining […]
Get ready for blackouts from London to LA, as the global energy crisis overwhelms grids and sends energy prices skyrocketing
Get ready for blackouts from London to LA, as the global energy crisis overwhelms grids and sends energy prices skyrocketing Part of Manhattan without power, seen from East River Houses. Jonathan Percy/EyeEm/Getty Images Climate change and soaring energy prices could make widespread blackouts more common, even in wealthy nations. Californians narrowly averted statewide blackouts, and Britons […]
A potential ‘black swan’ for US oil prices is being overlooked: unreliable electricity grids
A potential ‘black swan’ for US oil prices is being overlooked: unreliable electricity grids Failing power grids and electricity shortages across the US could throw the oil market into chaos. Photo by: Planet One Images/UCG/Universal Images Group via Getty Images Failing US power grids could be the next vulnerability in the supply chain for oil, energy […]
Entire industries in Germany could collapse due to Russian natural-gas supply cuts: union head
Entire industries in Germany could collapse due to Russian natural-gas supply cuts: union head Germany’s Economic Minister Robert Habeck speaks to press in Dusseldorf, Germany. Roberto Pfeil – Pool/Getty Images Germany’s top union official said entire industries could collapse due to Russia’s natural-gas cuts. Europe’s largest economy is heavily reliant on natural gas piped in from […]
Oil markets are pricing in long-term supply deficits and OPEC+ will face historic lows in spare capacity, warns IEA
Oil markets are pricing in long-term supply deficits and OPEC+ will face historic lows in spare capacity, warns IEA IEA Executive Director Fatih Birol. Anadolu Agency/Getty Images The IEA issued a warning for global oil markets Wednesday, saying supply challenges will persist. Three million barrels per day of Russian crude will disappear as sanctions set in, […]
Inflation and soaring gas prices have forced a North Carolina logging company to shut down after 37 years in business
Inflation and soaring gas prices have forced a North Carolina logging company to shut down after 37 years in business As of Monday, gasoline cost $4.491 per gallon, per the US Energy Information Administration.Johner Images/Getty Images A logging business in North Carolina is shutting down over accelerating inflation and soaring gas prices. “I haven’t talked to a logger in the […]
Saudi Arabia warns that the world is running out of energy capacity: ‘I have never seen these things’
Saudi Arabia warns that the world is running out of energy capacity: ‘I have never seen these things’ The EU is planning a complete ban on Russian oil imports. iznashih/Getty Images Saudi Oil Minister Prince Abdulaziz bin Salman warned Tuesday that the world is “running out of energy capacity at all levels.” “I am a dinosaur, […]
China and Russia are working on homegrown alternatives to the SWIFT payment system. Here’s what they would mean for the US dollar.
China and Russia are working on homegrown alternatives to the SWIFT payment system. Here’s what they would mean for the US dollar. Russian President Vladimir Putin and Chinese President Xi Jinping. Getty Images Some Russian banks have been banned from SWIFT, a cross-border messaging service for banks. India was reportedly considering a Russian proposal to use […]
Sand for fracking is now 3 times as expensive as it was last year, and it’s one of several reasons US oil production isn’t increasing
Sand for fracking is now 3 times as expensive as it was last year, and it’s one of several reasons US oil production isn’t increasing A hydraulic fracturing manager holds a mixture of sand and water which is pumped down the pipes at a shale gas site in the UK. Peter Powell/Reuters Russia’s invasion of Ukraine […]