Shell profits nearly triple as oil prices surge

Shell profits nearly triple as oil prices surge

This post was originally published on this siteThe oil giant says pulling out of Russian oil and gas activities had cost it $3.9bn (£3.1 billion).

Read more
Five parts of the economy where you can see inflation

Five parts of the economy where you can see inflation

This post was originally published on this siteMore Americans might find their dollar isn’t going as far as before under the sting of rising inflation, as price stickers on food, gas and other goods and services skyrocket across the country. Data released by the Labor Department this week found that consumer prices...

Read more
Oil plunges below $100 a barrel and loses ‘quarter of its value’ after 14-year high

Oil plunges below $100 a barrel and loses ‘quarter of its value’ after 14-year high

This post was originally published on this site U.S. consumers could see a drop in gas prices after oil tumbled below $100 a barrel on Monday. CNN reported that oil dropped 8% to hit a low of $99.76 a barrel. “That means oil has lost almost roughly quarter of its...

Read more
The Oil Price Rally Is Bad. The Diesel Crisis Is Far Worse

The Oil Price Rally Is Bad. The Diesel Crisis Is Far Worse

This post was originally published on this siteDiesel is the workhorse of the global economy. And prices have surged in recent days to an all-time high.

Read more
Green groups say gas crisis makes transition to renewables even more urgent

Green groups say gas crisis makes transition to renewables even more urgent

This post was originally published on this siteEnvironmentalist groups and Democrats see the recent ban on imports of Russian oil and the ban’s effects on American gas prices as a further incentive to accelerate development of renewable energy.  The ban came the same week average gas…

Read more
US consumer prices hit new 40-year high as Ukraine shock looms

US consumer prices hit new 40-year high as Ukraine shock looms

This post was originally published on this site US consumer prices hit a new 40-year high last month as the world’s largest economy continued to be battered by a surge of inflation, which the fallout from Russia’s invasion of Ukraine is expected to worsen. The consumer price index (CPI) was...

Read more
Why record-high gas prices won’t be solved by drilling more oil in the US

Why record-high gas prices won’t be solved by drilling more oil in the US

This post was originally published on this siteAs gas prices skyrocket, politicians in both parties have called for a seemingly easy solution: Drill our way out of the problem.

Read more
Shell says it will halt operations in Russia, apologizes for buying Russian oil

Shell says it will halt operations in Russia, apologizes for buying Russian oil

This post was originally published on this siteShell CEO Ben Van Beurden said there were “incredibly difficult trade-offs that must be made during the war in Ukraine.”

Read more
Ukraine conflict: How reliant is the world on Russia for oil and gas?

Ukraine conflict: How reliant is the world on Russia for oil and gas?

This post was originally published on this siteRussia says it may cut off gas supplies if countries decided to ban Russian oil.

Read more
War in Ukraine is expected to lead to higher fuel prices

War in Ukraine is expected to lead to higher fuel prices

This post was originally published on this siteWashington – As Russia moves troops into Ukraine’s Donbas region, experts warn that the likelihood of a civil war erupting in Europe, coupled with heavy sanctions against Russia, is likely to cause instability in the energy market, potentially resulting in significantly higher costs...

Read more