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EU Considers Massive 100 Billion Euro Energy Relief Fund For Companies
EU Considers Massive 100 Billion Euro Energy Relief Fund For Companies Europe faces an unprecedented energy crisis that requires extraordinary policy action, such as a possible 100 billion in relief funds to businesses hit the hardest by soaring energy prices. Bloomberg cites MF daily that said the European Union on Wednesday is considering a massive 100 […]
Oil Executives: Higher Energy Prices Are Here To Stay
Oil Executives: Higher Energy Prices Are Here To Stay Big oil executives expect that higher energy prices are here to stay. Underinvestment in new production is seen as one of the driving factors behind higher energy prices in the mid-term. Low global inventories and limited spare production capacity are driving crude prices in the short […]
European Energy Prices Soar As Western Media Hypes Imminent Russian Invasion Of Ukraine
European Energy Prices Soar As Western Media Hypes Imminent Russian Invasion Of Ukraine European natural gas and electricity prices jumped as Western corporate media continued to drum up headlines of an imminent Russian invasion of Ukraine that could spark World War 3. Benchmark European gas prices rose more than 10% to 84 euros a megawatt-hour, the highest […]
Days of reckoning
Days of reckoning Here’s something which will likely be universally unpopular: The government shouldn’t do anything to subsidise energy prices. I say this in the face of a £700 or so increase on annual bills announced today. And this is just the beginning, because, as Nils Pratley at the Guardian points out, when the price cap is raised again […]
Germany closes half its remaining nuclear power plants
Germany closes half its remaining nuclear power plants The shutdowns of three plants take place as Europe faces one of its worst-ever energy crises and as support for nuclear as a low carbon energy is, once again, on the rise. The Grohnde nuclear power plant is one of three being shut down on Friday Germany […]
France Faces Power Blackouts In Next Cold Snap, Grid Operator Warns
France Faces Power Blackouts In Next Cold Snap, Grid Operator Warns France’s electricity grid is coming under strain, and the next cold snap could be devastating for the country as energy-intensive manufacturers would experience reduced power, according to a new report published by French power grid operator Reseau de Transport d’Electricite (RTE). RTE said due […]
European Firms Warn “Unbearably High Energy Costs” May Spark Wave Of Production Shutdowns
European Firms Warn “Unbearably High Energy Costs” May Spark Wave Of Production Shutdowns Years of mindless green energy policies across the European continent are about to unleash an economic crisis. Energy-intensive companies are paying “unbearably high energy prices” that may force them to shutter operations. Eleven European associations (from steel to fertilizers to cement to paper mills) […]
The UK energy rationing plan
The UK energy rationing plan The establishment media are suspiciously silent about the energy crunch facing Europe in general and the UK in particular. In October, when the wholesale gas price spiked at 400 percent above its January 2021 level, energy prices were headline news. So too was the sight of energy supply companies falling […]
European Nuke Plants Offline As Power Prices Hit Record
European Nuke Plants Offline As Power Prices Hit Record Bloomberg’s Chief Energy Correspondent Javier Blas tweeted a disturbing map of European day-ahead electricity prices that will hit record highs on Monday. “EUROPEAN ENERGY CRISIS: Wow, wow, wow… I’m running out of words to describe the European short-term electricity market,” Blas said. He continued, “Multiple records breached for Monday. With […]
White House Debates Immediate, ‘Radical’ Action To Lower US Energy Prices
White House Debates Immediate, ‘Radical’ Action To Lower US Energy Prices The Biden administration is actively debating whether to immediately intervene to lower US energy prices, rather than letting markets ride and hope they settle, as the ‘most popular president in history’ grapples with soaring inflation amid trade and foreign policy matters, according to Bloomberg. A […]
Two Big Myths About Why Energy Prices Are Rising
Two Big Myths About Why Energy Prices Are Rising Photo: Bridget Bennett/Bloomberg via Getty Images The global economic recovery is running low on fuel. Chinese factories have been flickering on and off as Beijing rations electricity. Britons have been parking in petrol lines as their nation’s pumps run dry. Americans have turned on their president as spiking gas prices eat their […]
“It’s A Really Dangerous Situation” – Afghanistan Faces Imminent Blackouts As Power Bills Skyrocket
“It’s A Really Dangerous Situation” – Afghanistan Faces Imminent Blackouts As Power Bills Skyrocket While the Taliban are clearly preoccupied with the security situation inside the Islamic Emirate of Afghanistan, as emphasized by Sunday’s bombing at a major mosque in Kabul (ironically, the former insurgents are facing an insurgency of their own led by ISIS-Khorasan, […]
Skyrocketing Energy Prices Could Cripple Europe’s Economy
Skyrocketing Energy Prices Could Cripple Europe’s Economy Surging energy prices in Europe are hurting more than just consumers. The price spikes have started to hit industrial activities, threatening to deal a blow to the post-COVID recovery in European economies with a triple whammy of reduced consumer purchasing power, lower industrial production, and higher operating costs. […]
Catabolism: Capitalism’s Frightening Future
Catabolism: Capitalism’s Frightening Future Photo Source SPACES Gallery | CC BY 2.0 “Out of the frying pan, into the fire” is an apt description of our current place in history. No matter what you think of globalization, I believe we’ll soon discover that capitalism without it is much, much worse. No one needs to convince […]
Mnuchin’s Wrong: Here’s Why Investors Should Be Very Worried About Inflation
Mnuchin’s Wrong: Here’s Why Investors Should Be Very Worried About Inflation Despite Treasury Secretary Steven Mnuchin’s bizarre insistence that there’s no connection between consumer-price inflation and rising energy prices and wages, these factors – plus a spate of others – are forcing some food companies to consider raising prices on goods from chicken to cereal, […]
