U.S. crude oil prices rose more than 4% on Thursday, on pace for a third consecutive session of gains on fears that Israel could strike Iran‘s oil industry in retaliation for Tehran‘s ballistic missile attack this week.
Archiv: Preise / pricing / prices
Oil Price Jumps After Biden Says ‘Discussing’ Israeli Strike on Iranian Facilities
The president was asked about a potential strike on the oil infrastructure of Iran, which accounts for about 2 percent of the world’s supply.
Junge Deutsche unzufrieden mit Politik und sozioökonomischer Entwicklung: Erhebung
Zwei von drei jungen Deutschen zwischen 14 und 29 Jahren sind besorgt über die Verbraucherpreise, die in den letzten Jahren stark gestiegen sind. Etwa die Hälfte macht sich Sorgen um teuren Wohnraum und hat Angst vor Altersarmut, so die Trendstudie „Jugend in Deutschland“.
„Die Aussicht auf ein gutes Leben schwindet“, sagte Simon Schnetzer, Autor und Herausgeber der Umfrage unter 2.042 Personen. Die Ergebnisse zeigen „eine tiefsitzende mentale Verunsicherung mit Verlust des Vertrauens in die Beeinflussbarkeit der persönlichen und gesellschaftlichen Lebensbedingungen“, betonte er.
„Demokratiefördergesetz“ – Was versteht Bundesregierung konkret unter „Verhöhnung des Staates“?
Innenministerin Nancy Faeser hatte am 13. Februar erklärt: „Diejenigen, die den Staat verhöhnen, müssen es mit einem starken Staat zu tun bekommen.“ Doch war bisher in diesem Kontext das Verhöhnen, also sich über Staat und seine Institutionen lustig machen, elementarer und nicht strafbewehrter Bestandteil der politischen und medialen Kultur der Bundesrepublik. Vor diesem Hintergrund wollten die NachDenkSeiten auf der Bundespressekonferenz wissen, was die Ministerin konkret unter „Verhöhnen des Staates“ versteht und wie sie dies jetzt verfassungskonform strafrechtlich verfolgen will.
Regierung prüft Lieferung von Munition an Israel
Da die Industrie die gewünschte Munition nicht sofort liefern kann, werde die Option erwogen, dass die Bundeswehr zunächst Munition aus den Beständen abgibt, heißt es in dem Bericht. So könnte man der Bitte Israels zeitnah nachkommen.
Einige Details seien aber noch unklar. Israel wolle die Lieferungen der Munition bezahlen, derzeit laufen aber offenbar noch Gespräche über die Vertragsdetails und den Preis
1. Wer ist diese junge Bewegung?
Unter dem Banner Land schafft Verbindung haben sich im Oktober 2019 viele tausende Bauern zusammengefunden um unter anderem gegen eine undurchdachte Verbotspolitik, für eine faktenbassierte Diskussion unserer Zukunft, bessere Lebensbedingungen und für ein faireres Miteinander ohne Bauernbashing uvm. zu demonstrieren!
Der Landesverein Landwirtschaft verbindet Bayern e.V. gründete sich im Mai 2020 und ist nachfolgend als LSV-Bayern und auch LvB bekannt.
Dabei ist der LSV betont Verbands- und Parteineutral und sieht sich eher als Mediator zwischen den einzelnen Landwirtschaftlichen Verbänden. Wir sprechen und suchen Lösungen für die Landwirte mit allen Parteien der Demokratischen Mitte und lehnen extreme Tendenzen im Rechten und auch Linken Spektrum entschieden ab.
BAUERN-PROTESTE: Bauernpräsident Joachim Rukwied hält Rede in Berlin vor dem Brandenburger Tor
Der Bauernpräsident betonte mit Blick auf die bundesweiten Proteste der Landwirte, es sei nicht gelungen, das Anliegen in die rechte Ecke zu drängen. Die Bäuerinnen und Bauern seien aufrechte Demokraten und stünden zum Grundgesetz. Rukwied wies darauf hin, dass weiterhin eine sichere Versorgung mit heimischen Lebensmitteln gewährleistet sein müsse. Das sei auch die Grundlage für eine stabile Demokratie.
Thousands and thousands of farmers, truckers and other hard working citizens took to the streets of Berlin today to remind their government and the globalists of one simple thing: “We are The People and we are taking back control.”
This is just the beginning.
The German firefighters are supporting the farmers’ protests in Berlin. Solidarity!
PROTEST IN BERLIN: „Hau ab!“ Wut auf Lindner! Bauern kündigen schon neue Proteste an | WELT Stream
Zu der Kundgebung kamen nach Polizeiangaben 8500 Menschen und rund 6000 Fahrzeuge. Der Bauernverband sprach von rund 30 000 Demonstranten mit fast 10 000 Fahrzeugen.
„Eine INSA-Umfrage für BILD zeigt: 69 Prozent der Befragten unterstützen die Bauern-Proteste gegen die geplanten Kürzungen der Ampel-Regierung!“
BAUERNPROTESTE IN DEUTSCHLAND: Fleischhauer „Die haben den Kanal bis oben hin voll!“ | WELT Meinung
Am Brandenburger Tor in Berlin wurden fast 700 Fahrzeuge gezählt, in Erfurt sprach die Polizei von mehr als 2000 Traktoren und anderen Zugmaschinen. Im VW-Werk Emden wurde die Produktion gestoppt, weil die Beschäftigten nicht zur Arbeit kommen konnten. In einigen Städten erhielten die Bauern Unterstützung – etwa von Lastwagenfahrern und Handwerkern. Nach Angaben des Innenministeriums in Stuttgart nahmen in Baden-Württemberg etwa 25 000 Fahrzeuge an 270 Aktionen teil.
Die Wut der Bauern | ZDF spezial
Seit Montag protestieren die Bauern im Rahmen ihrer Aktionswoche gegen die geplanten Kürzungen der Ampelregierung. Deutschlandweit ziehen sich Traktorenkonvois durch Städte.
Sicherheitsbehörden warnen derweil …
Aktionswoche
Diese Liste wird ständig aktuell gehalten solange unsere Aktionen laufen!
Großdemos in Bayern:
08.01.2024 München, Odeonsplatz
10.1.2024 Augsburg, Plärrer
12.1.2024 Nürnberg, Volksfestplatz
Regional gibt es auch viele Aktionen, hier könnt ihr die schauen wo in eurem Regierungsbezirk etwas läuft:
Landwirtschaft und Transportgewerbe demonstrieren gemeinsam ab 8. Januar
Bundesweit werden in allen Bundesländern über 100 Aktionen stattfinden, um Bevölkerung und Politik davor zu warnen, die Wettbewerbsfähigkeit und die Existenz der Landwirte und mittelständischen Transportunternehmen aufs Spiel zu setzen.
Für eine wettbewerbsfähige Landwirtschaft sind eine Förderung von Agrardiesel sowie die Kfz-Steuerbefreiung unerlässlich. Der Deutsche Bauernverband fordert daher gemeinsam mit den Landesbauernverbänden und LsV Deutschland, die von der Bundesregierung geplanten Steuererhöhungen für die Landwirtschaft zurückzunehmen.
Der Bundesverband Güterkraftverkehr Logistik und Entsorgung (BGL) e.V. fordert die Einhaltung der Koalitionszusage zur Vermeidung einer doppelten CO2-Bepreisung bei Maut plus Diesel, eine Verdopplung der Mautharmonisierungsprogramme auf 900 Mio. Euro sowie mehr Geld für intakte Straßen und Brücken, Lkw-Stellplätze und verlässliche Förderprogramme für einen klimafreundlichen Straßengüterverkehr.
Für den 15. Januar 2024 ist ab 11:30 Uhr eine gemeinsame Großkundgebung in Berlin geplant.
„Impf-Gegner“, „Putin-Trolle“, „Kartoffel-Mob“ – es ist einfach unerträglich, wie alle, die mit der Regierungspolitik nicht einverstanden sind und deswegen auf die Straße gehen, wüst beschimpft und in die rechte Ecke geschoben werden, um legitimen Protest zu delegitimieren.
Nach den #Corona-Maßnahmenkritikern und den Befürwortern von #Diplomatie statt #Ukraine-Waffengeschenken sind jetzt die Bauern dran, die aus Existenznot gegen Steuererhöhungen protestieren, weil sie sich von den Ampel-Nebelkerzen beim #Agrardiesel nicht blenden lassen.
Wer wie die Bundesregierung meint, bei den anhaltenden Bauernprotesten in ganz Deutschland geht es nur um Agrardiesel und Kfz-Steuer, versteht nicht die existentiellen Nöte vieler landwirtschaftlicher Familienbetriebe. Den #Bauern steht das Wasser bis zum Hals. Sie kämpfen um ihre Zukunft und dagegen, dass die #Ampel ihnen 1 Milliarde Euro wegnehmen will, während die Bundesregierung gleichzeitig Waffengeschenke für die Ukraine locker auf 8 Milliarden Euro in diesem Jahr verdoppelt.
Die halbe Rolle rückwärts der Ampel jetzt bei den geplanten Steuererhöhungen für die Bauern verfängt nicht. Die Landwirte fallen auf den Ablenkungsversuch ganz offensichtlich nicht herein.
Statt gesellschaftliche Spaltung durch Ausgrenzung und Ächtung der Regierungskritiker immer weiter zu forcieren, ist es an der Zeit, die fatale Ampel-Politik zu korrigieren, die mit hohen Energiepreisen infolge unsinniger Wirtschaftssanktionen Bürger belastet, Bauern ruiniert und Deutschland deindustrialisiert.
Es ist die Politik der Ampel, die Deutschland 2023 als einzige Industrienation in die #Rezession geführt hat; 2024 könnte die Wirtschaft bei uns weiter schrumpfen, so die düstere Prognose des Instituts der Deutschen Wirtschaft. Versicherungen rechnen mit zehntausenden Firmenpleiten.
Es ist die Politik der Ampel, die gerade Gering- und Normalverdiener in Deutschland 2024 durch Erhöhung von Steuern und Abgaben stark belastet. Millionen Haushalte müssen mit mehreren Hundert Euro Mehrkosten zurechtkommen.
Wir brauchen wieder eine Politik für wirtschaftliche Vernunft und soziale Gerechtigkeit, die die hart arbeitenden Menschen in den Mittelpunkt stellt, in der Stadt wie auf dem Land, im Betrieb wie auf dem Bauernhof.
#Bauernprotest #Mistgabelmob
Bayerische Staatsregierung steht hinter Forderungen der Bauern – Polizei bereitet sich auf Aktionen und Proteste vor
Wie Herrmann erläuterte, stellen die Versammlungsbehörden im Freistaat ein enormes Mobilisierungspotential fest: Seit Mitte Dezember (14. Dezember 2023 bis 4. Januar 2024, 16 Uhr) fanden in Bayern bereits 71 einschlägige Versammlungen statt, an denen sich insgesamt mehr als 8.000 Personen beteiligten. Weitere 208 Versammlungen wurden zudem allein für die kommende Woche angezeigt (Stand: 4. Januar 2024, 16 Uhr). Der Bayerische Bauernverband organisiert in Abstimmung mit dem Verein ‚Landwirtschaft verbindet Bayern e.V.‘ eine Reihe großer Versammlungen wie am 8. Januar 2024 mit angezeigten 5.000 Teilnehmern in München am Odeonsplatz, am 10. Januar mit angezeigten 3.000 Teilnehmern in Augsburg und am 12. Januar mit angezeigten 5.000 Teilnehmern in Nürnberg.
Protestwoche ab dem 8. Januar
Hier ein kleiner Auszug der Ereignisse, mit denen die Bauern zusätzlich seit den letzten 2 Jahren zu kämpfen haben:
– Absenkung des Steuersatzes für pauschalierende Betriebe von 10,7% auf 8,4%
– Abschaffung der Gewinnglättung
– Streichung der Investitionsförderung von 195 Mio € für den von der Gesellschaft gewollten schnellen Umbau der Landwirtschaft
– Kürzung der Zuschüsse für die ldw. Sozialversicherung und Berufsgenossenschaft
– Höhere CO2 Abgabe, die bis 2026 auf 19,8 Cent/L steigt
– 4% Flächenstilllegung von ertragreichen Flächen, ohne Ausgleich
– Verschärfung der Geruchsimmissionsrichtlinie (GIRL)
– Ausweitung der Stoffstrombilanz
– Verschärfung des Errosionsschutzkatasters
– Fehlende Investitionsförderung für den Umbau zu mehr Tierwohl, ohne Absicherung der höheren Betriebskosten
– Fehlende Ausschreibungsmengen bei Biogas
– Vermehrte Schäden durch Wolf, Bieber usw. bisher immer noch mit keiner Lösung
Um den Fortbestand der kleinstrukturierten Betriebe in Bayern aufrecht zu erhalten, bestehen wir darauf:
– Dass importierte Waren mindestens den deutschen Anforderungen an Umwelt- Tierschutz- und Sozialstandards entsprechen (Lieferkettengesetz)
– Auf eine klare 100% Herkunftslandkennzeichnung für alle landwirtschaftlichen Produkte, auch in verarbeiteten Lebensmitteln und Restaurants, damit der Verbraucher leicht erkennen kann, woher diese genau kommen.
– Menge, Preis und Lieferzeit für unsere Produkte müssen im Vorfeld geklärt sein. (Marktrahmenbedingungen)
Notenbank-Konferenz in USA – Inflation: EZB setzt auf straffe Zinspolitik
Der Kampf gegen die hohe Inflation ist nach den Worten der Präsidentin der Europäischen Zentralbank (EZB), Christine Lagarde, noch nicht gewonnen. Das bedeute, dass die EZB so lange an einer strikten Geldpolitik festhalten müsse, bis eine mittelfristige Teuerungsrate von zwei Prozent erreicht werde, sagte Lagarde am Freitag auf der Notenbank-Konferenz in Jackson Hole in den USA.
Bank-of-England-Vize: Wohl „einige Zeit“ weiter hohe Zinsen
Die Folgen des Preisanstiegs würden wahrscheinlich nicht so schnell verschwinden, wie sie entstanden seien, sagte der Vizegouverneur der Bank of England (BoE), Ben Broadbent, laut Redetext gestern auf dem Treffen von Zentralbankern und Ökonominnen in Jackson Hole im US-Staat Wyoming.
„Vor diesem Hintergrund könnte die Geldpolitik noch einige Zeit restriktiv bleiben.“
Bank of England warns UK rates need to remain high for some time
(Sat 26-08-2023)
“It’s unlikely that these second-round effects will unwind as rapidly as they emerged,” Broadbent said at the Federal Reserve’s annual gathering of central bankers in Jackson Hole, Wyoming. “As such, monetary policy may well have to remain in restrictive territory for some time yet.”
The BOE has raised rates 14 times in a row to 5.25%, the highest level in almost 16 years, to tame inflation.
Dollar steady as Fed‘s Powell says higher rates may be needed
(August 25, 2023)
Powell, in a speech at an economic summit in Jackson Hole, Wyoming, said policymakers would „proceed carefully as we decide whether to tighten further,“ but also made clear that the central bank has not yet concluded that its benchmark interest rate is high enough to be sure that inflation returns to the 2% target.
Suppose we have an interest rate / inflation spiral now, and it’s been created by the Bank of England?
I suspect the Bank to deny this, but they have already admitted their models of inflation based on their own understandings of the issue do not work, so little weight should be given to that.
Instead it‘s time to cut rates and remove the only excuse businesses have to increase prices because interest rates are the only cost expected to remain high, and excessively so, from now into the future.
Gas Price Plunge Brings Relief to Europe After Energy Panic
European gas prices have plunged to the lowest since mid-2021, when Russia was just beginning to squeeze supplies before its invasion of Ukraine, helping to reverse a surge in inflation and bring relief to consumers.
Bank of England raises UK interest rates to 4.5%
(11 May 2023)
The Bank of England has raised interest rates by a quarter of a point to 4.5% as it forecast inflation would stay higher for longer than previously expected and the economy would perform more strongly.
Supermarkets ‚to be urged to cap price on some foods‘
The scheme would aim to get retailers charging the lowest possible amount for some basic products like milk and bread, the Sunday Telegraph reported.
A Number 10 source said the plans are at „drawing board stage“ and would not involve government-imposed price controls.
The Laundromat: How the price cap coalition whitewashes Russian oil in third countries
Well into the second year of the full-scale invasion of Ukraine, the EU, most of the G7 countries, and Australia have cracked down on their imports of Russian crude oil and oil products. At the same time, these countries, which are all part of the price-cap coalition whose objective is to limit Russia’s revenues from fossil fuel exports, have increased imports of refined oil products by leaps and bounds from the countries that have become the largest importers of Russian crude oil.
A Price Cap Loophole Is Undermining Sanctions On Russian Oil
Europe has boosted imports of refined petroleum products from countries that have raised imports of Russian crude oil, as a major loophole in the sanctions risks undermining the effectiveness of the price cap and embargoes, a report from the Centre for Research on Energy and Clean Air (CREA) showed on Wednesday.
The EU, Australia, and most of the G7 countries have banned direct imports of Russian crude oil, but they have raised indirectly imports of Russian oil by purchasing higher volumes of oil products from countries that have become the biggest buyer of Russia’s crude, the Finland-based center said.
Prices Rally As Crude Oil, Products Draw Down
This week, SPR inventory dropped for the third week in a row losing another 1.6 million barrels for the week to reach 368 million barrels—the lowest amount of crude oil in the SPR since October 1983.
U.S. crude oil production rose during the week ending April 7, to 12.3 million bpd. U.S. production is now 800,000 bpd lower than the peak production seen in March 2020, but 500,000 bpd higher than this time last year.
Will OPEC’s Surprise Production Cuts Push Oil Prices To $100?
It was Saudi Arabia, the UAE, and Kuwait who led the surprise cuts, alongside OPEC’s second-largest producer Iraq and another half a dozen OPEC+ producers, including Russia.
While Russia’s extension of its own 500,000-bpd cut until the end of the year was no surprise – analysts had largely baked in a drop in Russian production in view of the embargoes and price caps on its oil – the move from OPEC’s heavyweights came as a surprise. And sent a clear message to the market—we are in charge.
Montag, 27. März: Megastreiktag – ver.di und EVG rufen gemeinsam zu Verkehrs- und Infrastrukturstreiks auf
Das hat es in dieser Form noch nie gegeben: Aus Protest gegen unzureichende Angebote in den Tarifauseinandersetzungen für die rund 2,5 Millionen Beschäftigten von Bund und Kommunen und für die Beschäftigten von Gesellschaften der Deutschen Bahn AG legen die Mitglieder der DGB-Mobilitätsgewerkschaften ver.di und EVG am kommenden Montag (27. März) gemeinsam die Arbeit nieder. Es wird bundesweit zu erheblichen Einschränkungen in der Verkehrsinfrastruktur kommen.
Passport Office strike: How will five-week walkout affect your travel plans?
(Friday 17 March 2023)
In a “significant escalation” of a dispute over jobs, pay and conditions, the Public and Commercial Services (PCS) union says more than 1,000 members will walk out at all seven offices in England, Wales and Scotland from 3 April to 5 May. Staff at the Passport Office in Belfast may join the strike later.
The union says the walkout will have a “significant impact” on the delivery of passports as the summer approaches.
Bid to end teacher strikes as government and education unions agree to hold ‚intensive talks‘ on pay and workload
(Friday 17 March 2023)
The news follows the breakthrough in the NHS dispute on Thursday, with union leaders representing thousands of nurses, ambulance crews and other health workers agreeing to suspend further strikes while ballots are held on a new pay offer.
Junior doctors in England agree to pay talks after three-day strike
(17 Mar 2023)
On Friday night the Department of Health and Social Care said the British Medical Association had agreed to enter negotiations on the same terms as unions representing nurses, ambulance staff and other NHS workers in talks that concluded this week.
Government FINALLY reaches pay deal with NHS unions after months of strikes
(16 Mar 2023)
After three months of strikes, the Government has offered a one off bonus this year of 2.5% for the best paid and 8.2% for the worst paid.
The offer, recommended by most of the main NHS unions, comes on top of the 4% increase already implemented for 2022/23.
This award had come with inflation at over 10% and had sparked the strikes.
Russia‘s War In Ukraine Helps Oil Giant Saudi Aramco Post Historic $161 Billion Profit In 2022
The announcement came off the back of energy prices rising after Russia launched its war on Ukraine in February 2022, with sanctions limiting the sale of Moscow‘s oil and natural gas in Western markets. Aramco‘s results mirror the huge profits seen at U.S. and British oil giants.
Saudischer Ölkonzern Aramco meldet 161 Mrd. Dollar Gewinn
Der saudi-arabische Ölkonzern war erst 2019 an die Börse gegangen. Er ist das zweitwertvollste Unternehmen der Welt nach Apple. 2022 meldeten auch fünf weitere Ölgiganten Rekordgewinne: Shell, Chevron, ExxonMobil, BP und TotalEnergies.
Big Oil to take centerstage at Houston meet as markets, alliances shift
The war in Ukraine sparked a rally in crude oil and fuel prices that led to record industry profits, prompting the U.S. government and others to accuse Big Oil of profiteering and for Britain and some other governments to impose windfall taxes on energy companies.
Oil prices down after report on UAE debating OPEC exit
Oil prices slumped on Friday after the Wall Street Journal reported that the United Arab Emirates had an internal debate about leaving OPEC and pumping more oil, but retraced some losses after a source told Reuters this was not true.
What Exxon and Chevron Are Doing With Those Big Profits
(Feb. 1, 2023)
The variables that will determine oil companies’ profitability this year are largely out of their control — in both supply and demand. The war in Ukraine could expand or not; a recession in the United States and Europe could be deep or averted entirely. Prices for fuels, and inflation generally, will largely depend on how events play out.
Shell Reports Record Profits As Oil Giants—Including Exxon, Chevron—Cash In On Sky-High Prices After Russian Invasion Of Ukraine
(Feb 2, 2023)
Shell reported an annual profit of nearly $40 billion in 2022, the highest in the firm’s 115-year history.
The figure is more than double the $19.3 billion the firm reported in 2021 and far greater than its previous record of $31 billion in 2008.
Israel, Saudi Arabia Reportedly in Talks Over Increasing Military and Intelligence Ties
The talks between Israel and Saudi Arabia, which are backed by the U.S., were held before the U.S.-Gulf Cooperation Council Working Group gathering in Riyadh, which was focused on defense and security, Bloomberg reported several anonymous sources involved in the meetings as saying.
More meetings between the two countries are expected to occur this weekend in Prague, during the Munich Security Conference, according to several of the sources.
Saudi Arabia warns sanctions on Russia could lead to energy shortages
(05.02.2023)
Western sanctions against Russia could result in a shortage of energy supplies in future, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said on Saturday.
He was answering a question at an industry conference in Riyadh over how trade measures would affect the energy market.
Shell Reports Record Profits As Oil Giants—Including Exxon, Chevron—Cash In On Sky-High Prices After Russian Invasion Of Ukraine
(Feb 2, 2023)
Shell reported an annual profit of nearly $40 billion in 2022, the highest in the firm’s 115-year history.
The figure is more than double the $19.3 billion the firm reported in 2021 and far greater than its previous record of $31 billion in 2008.
Price and Prejudice: A Note on the Return of Inflation and Ideology
With the acceleration of inflation in the post-pandemic recovery, the debate seemed to be limited to whether the inflationary spike would be short-lived or persistent and become imbedded into inflationary expectations. While some Keynesian authors like Paul Krugman initially believed that inflation was caused by cost-push factors including by the sharp rises in energy and foodstuff prices as a result of the Ukraine war, and that it would quickly subside, the debate shifted rapidly and a new consensus according to which inflation was, in part the result of over stimulation of demand during the pandemic coupled with supply side shocks that lowered the potential level of output which provides the main theoretical justification for raising interest rates. Thus, even when most authors accept the notion that snags in the supply chain played a role in the acceleration of inflation, the main cause is to be seen on the excess demand side with the economy beyond its potential output level.
The challenge to conventional wisdom, and its emphasis on demand, has come from left
of center authors, like Robert Reich, that suggest inflation is caused by greedy corporations that have increased their profit margins during a crisis. This has brought back the old debate about the relationship between administered prices and inflation, and the proposition that inflation is directly related to highly concentrated market structures, or what might be termed oligopolistic inflation.
In other words, there is an ideological divide between those that blame inflation in an incompetent government and central bank reaction to the pandemic versus those that suggest that the real culprits are greedy corporations rising their mark up above their costs.
U.S. Quietly Revises Q4 Inflation Up, Bombshell January CPI On Deck
While the rest of America was gearing up for the Super Bowl Sunday, the Bureau of Labor Statistics revised Q4 inflation numbers higher on Friday.
This is actually huge news.
Preprogrammed algos bought billions in stock off of November and December CPI off of faulty assumptions about inflation going away easily, which sparked the huge rally.
The inflation revisions are a double whammy.
This is the economic buzzword we should all be paying attention to
Over the past year, an alphabet soup of otherwise wonky economic statistics have become household names as American families suffered through the worst inflation in 40 years: CPI (Consumer Price Index), PPI (Producer Price Index), PCE (Personal Consumption Expenditures and ECI (Employment Cost Index).
Stock market news today: Stocks soar as investors look ahead to inflation data
Tuesday‘s CPI reading will come as investors recalibrate expectations for high interest rates will go this year after Fed Chair Jerome Powell implied in a speech last week that the battle against inflation was in its early stages. For much of the year, many were betting the U.S. central bank would pause its interest rate hiking campaign this year.
Biden Turns the U.S. Into a Shadow Member of OPEC
(13.12.2022)
President Biden has urged the Organization of the Petroleum Exporting Countries to increase production of oil and criticized the cartel harshly when it declines to do so—most recently on Dec. 4. But actions speak louder than words. Under the Biden administration, the U.S. has been acting as shadow member of the cartel.
Shell Reports Record Profits As Oil Giants—Including Exxon, Chevron—Cash In On Sky-High Prices After Russian Invasion Of Ukraine
(Feb 2, 2023)
Shell reported an annual profit of nearly $40 billion in 2022, the highest in the firm’s 115-year history.
The figure is more than double the $19.3 billion the firm reported in 2021 and far greater than its previous record of $31 billion in 2008.
Oil surges to multi-year highs as Russian supply shortfall looms
Crude prices posted their largest weekly gains since the middle of 2020, with the Brent benchmark up 21% and U.S. crude gaining 26%. The most commonly traded oil futures closed at levels not seen since 2013 and 2008, respectively.
Russia Discussed With Several OPEC+ Members Plans To Reduce Crude Oil Production – Kremlin
Earlier in the day, Russian Deputy Prime Minister Alexander Novak said Russia would voluntarily reduce crude oil production by 500,000 barrels per day in March in order to contribute to the restoration of market relations.
‘There is only so much patience one can have’: Biden appears to back off vow to punish Saudi Arabia
(03.02.2023)
Now almost a month into the new session of Congress, lawmakers have yet to hear from administration officials about launching a coordinated review of the US-Saudi relationship, despite repeated statements over the past few months by the White House that congressional input would be key to such an assessment
Months after President Biden promised Saudi Arabia would suffer “consequences” after OPEC+ announced it would cut production, his administration has no plans to punish – let alone significantly reorient its posture toward – the country, sources say
(03.02.2023)
Today is the biggest day of strike action in the history of the NHS. My question to those in positions of leadership: what side of history do you want to be on?
(06.02.2023)
Donate to support striking workers
As UNISON members continue to take strike action, the union is asking for donations to its strike fund
NHS Strikes: Nottingham NHS staff say ‘enough is enough after 10 years of below-inflation pay’
Nottingham NHS staff taking part in the biggest strike in the history of the service say they are suffering a ‘huge’ impact on their mental health because of their jobs.
Hundreds of nurses, healthcare assistants and clinicians took to picket lines across Nottinghamshire alongside paramedics, technicians, call handlers and other staff working for East Midlands Ambulance Service.
Upcoming strikes in Edinburgh as firefighters and teaching staff take industrial action
Here are the main public service strikes planned for the coming months, and the dates that these unions will be staging industrial action across Edinburgh.
Workers stage largest strike in history of Britain‘s health service
Nurses and ambulance workers have been striking separately since late last year but Monday‘s walkout involving both, largely in England, is the biggest in the 75-year history of the NHS.
Nurses will also walk out on Tuesday, ambulance staff on Friday, and physiotherapists Thursday, making the week probably the most disruptive in NHS history, its Medical Director Stephen Powis said.
Press Briefing by Press Secretary Karine Jean-Pierre and National Security Council Coordinator for Strategic Communications John Kirby, January 6. 2023
Q Thank you. I have two foreign policy questions, John. First, on — the Wall Street Journal is reporting that the administration easing tension with Saudi Arabia, and they might not go ahead with the review. Can you comment if this is actually accurate? And how far are we in the review?
And second, on Turkey: As you know, there’s this kind of rapprochement between Turkey and the Assad regime, with the mediation of the Russians. Do you believe that this is the right step from the administration’s point of view? And will the Kurds pay the price for this?
MR. KIRBY: To the second question, the answer — short answer is: No. We haven’t normalized relations with the Assad regime, and we — we wouldn’t encourage any nation-state to normalize relations with the Assad regime.
But we’ll see where these talks go and what actually comes out of this. I don’t want to get ahead of where they are. But we obviously don’t support normalization with Assad.
On — I’m sorry, your first question was?
Q On the Saudis.
MR. KIRBY: Saudis. Thank you. The President has been consistent and clear that he wants this bilateral relationship, like any bilateral relationship we have, to be well suited to the interests of the American people and to our national security. And we’re going to continue to take a look at that relationship.
Look, Saudi Arabia is a strategic partner — 80-some-odd years. And — and it’s important that that strategic partnership continue, but it’s also important that it continues in a way that is completely consistent with our values and our interests. And the President wants to continue to take a look at it to make sure that that’s the case.
US Confirms Strategic Partnership with Saudi Arabia
(7 January, 2023)
The United States has once again expressed its keenness to maintain its 80-years strategic partnership with Saudi Arabia.
NSC Coordinator for Strategic Communications John Kirby reiterated in an interview with Al-Arabiya channel that Saudi Arabia is a „strategic partner“ of the United States, recalling that the bilateral relations date back to more than 80 years.
U.S.-Saudi Tensions Ease as Concerns About Iran Grow
The Biden administration has dropped threats to retaliate against Saudi Arabia for an oil-production cut last year and is moving to step up security coordination to counter Iran in 2023, U.S. and Saudi officials said, three months after ties hit a historic low point.
Officials pointed to signs of improved U.S.-Saudi cooperation in recent weeks as falling U.S. gasoline prices, better-than-expected midterm election results for Democrats, and heightened concerns about Iran take the edge off a long-simmering spat that spilled into the open in October when the Saudis rebuffed White House requests to delay the production cut.
Saudi Arabia May Cut Oil Prices To Asia Even Further
The price was set at a $3.25 premium to the Dubai/Oman benchmark, a cut by $2.20 per barrel from the prior month’s price.
Now, according to the four analysts surveyed by Reuters, Aramco could cut the price of Arab Light by another $1.50 per barrel for February shipments. This would bring the premium over Dubai/Oman to just $1.75 per barrel.
How Saudi Arabia‘s crown prince snubbed Biden repeatedly to forge ties with authoritarian China and Russia
(Jan 1, 2023)
Crown Prince Mohammed has more affinity with the ideology of fellow strongmen Xi or Putin than with the US, said Alterman.
„They share a belief that a significant liberalization of domestic life would lead to social chaos, the collapse of morality, and political polarization,“ said Alterman.
„The Saudi leadership is much more comfortable with Saudi Arabia pursuing the Chinese path of tightly managed politics, strong state-owned companies, and limited social freedoms than pursuing the US model,“ he said.
Israel can normalize ties with Saudi Arabia – with Biden‘s help – opinion
“First, a written agreement defining our strategic partnership and what the US commitment is to our security if we’re attacked.
“Second, a status that assures us that US weapons sales will be reliable. It’s intolerable that from one month to the next we don’t know anymore if the US will fulfill its commitments. We need to be treated more like NATO or Israel where we can disagree on political and economic issues, but the underlying commitment to sell us what we need to defend ourselves doesn’t change.
US Holds Back on Saudi Moves as Tensions Ease
(27.12.2022)
Despite threats of „consequences“ made by the Biden administration during the run-up to US midterm elections in early November, no concrete actions have materialized.
One of the top potential measures, passage of the „Nopec“ antitrust legislation, has not advanced, after quietly failing to be included in a targeted bill this month.
Israel‘s Netanyahu urges US to reaffirm commitment to Saudi Arabia – Al Arabiya
(December 15, 2022)
„The traditional (U.S.) alliance with Saudi Arabia and other countries, has to be reaffirmed. There should not be periodic swings, or even wild swings in this relationship, because I think that the alliance…is the anchor of stability in our region,“ Netanyahu told the Saudi-owned website.
„I‘m to speak to President Biden about it,“ Netanyahu said according to a published transcript of the interview.
Biden Turns the U.S. Into a Shadow Member of OPEC
(13.12.2022)
President Biden has urged the Organization of the Petroleum Exporting Countries to increase production of oil and criticized the cartel harshly when it declines to do so—most recently on Dec. 4. But actions speak louder than words. Under the Biden administration, the U.S. has been acting as shadow member of the cartel.
Euro forecast to be worth less than a dollar after Christine Lagarde’s ‘kamikaze’ rate rises
He said: “It‘s like the ghost of Trichet has come back and taken over.”
Recession fears driven by soaring gas prices and looming blackouts pushed the euro to a 20-year low of $0.9536 against the dollar in September.
How the US Congress could defang OPEC and keep gas prices low in one stroke
(30.11.2022)
The idea was first put forth back in 2000, when antitrust lawyer Seth Bloom wrote the NOPEC Act. It stands for No Oil Producing and Exporting Cartels. The law would explicitly permit the US government to pursue price-fixing claims against oil-producing countries.
Biden vowed ‚consequences‘ for Saudi Arabia after oil production cut. But the U.S. has no plans to follow through.
(03.12.2022)
“This is an eight decades long relationship and we will continue to assess relations with Saudi Arabia methodically and strategically, and in line with what’s in our interests,” one official said in a statement.
“We will judge the way forward based on their actions as well as our ongoing consultations with partners and allies, the new Congress, and the Saudis.”
Exclusive: Saudis say normalization with Israel ‘matter of time‘
Senior diplomatic officials shared with i24NEWS that the Gulf state is looking to normalize relations with Israel, but that this will take time.
„The direction of Saudi-Israeli relations is normalization, but it will take more time and we must not put the cart before the horse.“ So said Saudi Minister of State for Foreign Affairs Adel Al-Jubeir in a meeting held in recent weeks with members of the American Jewish community (AJC), as revealed in an official document obtained by i24NEWS.
OPEC+ Keeps Oil Curbs Despite Russia Price Cap
During a virtual meeting, the Organization of the Petroleum Exporting Countries and the Russia-led bloc—a group collectively known as OPEC+—decided to maintain production cuts of 2 million barrels a day, initially agreed to in October, OPEC said.
OPEC+ agrees to stay with existing oil output targets
Oil-producing alliance OPEC+ agreed on Sunday to keep its same production targets, dealing another setback for the U.S. and western allies seeking to curb high gas prices.
Biden’s Saudi recalibration a potential setback to prospects for Saudi-Israel normalization
(October 21, 2022)
Schneider is a co-chair of the Abraham Accords Caucus, as well as a lead sponsor of the DEFEND Act, which seeks to promote the creation of an integrated Middle East air-defense infrastructure, potentially including both Israel and Saudi Arabia.
Sen. Joni Ernst (R-IA), also an Abraham Accords Caucus co-chair and lead DEFEND Act sponsor, raised concerns that the White House was “disrupting… momentum” toward integrated air defense by postponing a United States-Gulf Coordination Council meeting focused on the issue following the oil production cut announcement.
How the US Congress could defang OPEC and keep gas prices low in one stroke
(30.11.2022)
The idea was first put forth back in 2000, when antitrust lawyer Seth Bloom wrote the NOPEC Act. It stands for No Oil Producing and Exporting Cartels. The law would explicitly permit the US government to pursue price-fixing claims against oil-producing countries.
OPEC+ to consider deeper oil output cuts ahead of Russia sanctions and proposed price cap
OPEC and non-OPEC oil producers could impose deeper oil output cuts on Sunday, energy analysts said, as the influential energy alliance weighs the impact of a pending ban on Russia‘s crude exports and a possible price cap on Russian oil.
OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy.
G7 and allies approve cap on price of Russian oil – BBC News
It comes after the EU agreed on the price cap after persuading Poland to back it.
The price cap was put forward by the G7 group of nations in September and aims to stop Moscow profiting from oil exports while avoiding a price spike.
60 US-Dollar pro Barrel: EU beschließt Preisdeckel für russisches Öl
Aus Moskau kam Kritik: Nach Meinung des prominenten russischen Außenpolitikers und Duma-Abgeordneten Leonid Sluzki gefährdet die EU mit dem Preisdeckel ihre Energiesicherheit. Daneben verstoße die EU auch gegen die Marktgesetze, wie die Staatsagentur Tass über die Reaktion Sluzkis berichtete.
Geplante Entlastungen: Mitnahmeeffekte bei Gas- und Strompreisbremse?
Die für Januar geplante Strom- und Gaspreisbremse ist heute erstmals Thema im Bundestag. Viele Versorger haben drastische Preiserhöhungen angekündigt.
Biden administration sticks to ‚vague‘ wording on Saudi ties after immunity decision
US will continue to review its relationship with Saudi Arabia despite the administration saying the crown prince has immunity from Khashoggi lawsuit
The last time the NOPEC bill came this close to passing was in 2007, when it got approved by the House of Reps in a 345-72 vote and the Senate by 70-23, only to die after George W. Bush threatened a veto. (good relations between George W. & the Kingdom in the aftermath of 9/11)
(17.10.2022)
Explainer: What is NOPEC, the U.S. bill to pressure the OPEC+ oil group?
(05.10.2022)
But several attempts to pass NOPEC over more than two decades have long worried OPEC‘s de facto leader Saudi Arabia, leading Riyadh to lobby hard every time a version of the bill has come up.
With the Senate Judiciary Committee passing the bill in May, it needs to pass the full Senate and House and be signed by the president to become law.
Oil rises after Saudis deny report of OPEC+ supply increase
„late last night, the Biden administration quietly gave Saudi Arabia’s Prime Minister, Mohammed bin Salman, immunity from a lawsuit for the murder of Khashoggi, who had criticized the crown prince’s policies“
Saudis may boost oil production after Biden admin shields crown prince from punishment in death of Jamal Khashoggi
A production increase of up to 500,000 barrels a day is now under discussion for OPEC’s December 4 meeting, delegates said.
Oil Prices Fall On Easing Geopolitical Tensions
(17.11.2022)
Oil prices jumped on the initial reports of the incident, in which two people lost their lives, as initial reactions from politicians suggested a further escalation between the West and Russia.
Later, as the facts began to emerge, the comments changed and the tension was effectively defused, pushing prices lower.
Saudi Arabia is the biggest beneficiary of the war in Ukraine
(16 May 2022)
Cracks in the resolve began to show up immediately. Amid calls for more solar, wind and nuclear power, the UK government started to double down on domestic oil and gas production, and Boris Johnson, the Prime Minister, flew to Saudi Arabia to ask the regime to increase its oil output.
„The chances of getting NOPEC passed are actually declining,“ says @rbccm Global Head of Commodity Strategy @CroftHelima. „Democrats were really driving for this. I don‘t really sense a lot of Republican enthusiasm.“ #Election2022 #Midterms2022 #OPEC
Explainer: What is NOPEC, the U.S. bill to pressure the OPEC+ oil group?
(05.10.2022)
But several attempts to pass NOPEC over more than two decades have long worried OPEC‘s de facto leader Saudi Arabia, leading Riyadh to lobby hard every time a version of the bill has come up.
With the Senate Judiciary Committee passing the bill in May, it needs to pass the full Senate and House and be signed by the president to become law.
Riyadh crosses the Rubicon toward Russia
(October 11, 2022)
This decision stands in stark contrast to the careful, muted responses of Chinese President Xi Jinping and Indian President Narendra Modi to Putin’s accelerating aggression in Eastern Europe and mounting threats to unleash nuclear war on the continent. Apart from buying Russian oil (at major discounts, most recently about $25 below Brent prices), neither the Chinese nor the Indians have offered Putin much in the way of diplomatic cover, military materiel or other direct substantive support since the earliest weeks of the illegal Russian invasion.
Weizen: Matif-Kurse springen um 4% an, nachdem Russland Getreide-Abkommen aussetzt Die Nachricht lief am Samstag über den Ticker der Nachrichtendienste. Russland setzt seine Teilnahme am Getreide-Abkommen mit sofortiger Wirkung aus!
(…)
Wheat prices shoot up after Russia suspends UN grain deal
Wheat prices shot up on global commodity markets after Russia pulled out of a deal to keep grain exports moving out of Ukrainian ports, exacerbating concerns that the move by Moscow could worsen global food shortages.
“Each fraction of a percentage point pushes someone somewhere over the line to extreme poverty,” United Nations aid chief Martin Griffiths told the body’s Security Council on Monday.
Explainer: What is NOPEC, the U.S. bill to pressure the OPEC+ oil group?
(05.10.2022)
But several attempts to pass NOPEC over more than two decades have long worried OPEC‘s de facto leader Saudi Arabia, leading Riyadh to lobby hard every time a version of the bill has come up.
With the Senate Judiciary Committee passing the bill in May, it needs to pass the full Senate and House and be signed by the president to become law.
Deep OPEC Output Cuts Upend Biden’s Attempt To Lower Oil Prices
In an effort to combat rising prices, earlier this year President Biden began the largest drawdown of the Strategic Petroleum Reserve in U.S. history.
OPEC+ undid Biden’s SPR release by making deep output cuts, starting in November.
OPEC+ interests are fundamentally different than the interests of the U.S. consumer.
Statistisches Bundesamt: Inflationsrate steigt auf 10,4 Prozent
Die Preise für Energie legten laut des Statistischen Bundesamtes um 43,0 Prozent im Vorjahresvergleich zu. Auch die Preise für Nahrungsmittel stiegen im Vergleich zum Vorjahresmonat mit 20,3 Prozent überdurchschnittlich
Leitzinserhöhung zur Inflationsbekämpfung? Was für eine Schnapsidee
(14.09.2022)
Haben Sie mehr Geld in der Tasche, weil die Leitzinsen sinken oder die Geldmenge steigt? Nein, natürlich nicht.
Tinte trocken für fünftes schwimmendes LNG-Terminal: Die Bundesregierung hat einen befristeten Mietvertrag für ein fünftes Importterminal für Flüssigerdgas (LNG) geschlossen. Standort: Wilhelmshaven.
Why are Europe’s gas prices falling?
In preparation for this winter, European countries have been rapidly filling their gas storage facilities with liquified natural gas (LNG) imported by ship from Qatar, the US and elsewhere. Those facilities are now reported to be virtually full. The latest phenomenon is LNG ships queuing off European coasts waiting to unload their cargoes – and being kept waiting because there is a shortage of storage space and facilities to unload. There are believed to be around 50 such ships currently at sea off Europe.
Jake Sullivan says Biden has no plans to meet with the Saudi crown prince at the G20 summit.
UK, economy, stimulus
(…)
This country is screwed whosoever in power even if Labour! Tory grassroot members has royally damaged this country by putting a malfunctioning robot Lizbot as PM who lacks a brain like the Scarecrow in the Wizard of Oz! Unfortunately there isn’t a Wizard she can visit to get one!
Leitzinserhöhung zur Inflationsbekämpfung? Was für eine Schnapsidee
(14.09.2022)
Während die Chicago Boys Milton Friedmans neoliberale Lehren in Pinochets Chile umsetzten, wurden Friedmans geldpolitische Lehren also zeitgleich ausgerechnet in der Bundesrepublik Deutschland erstmalig eingeführt. Bis heute gilt die Bundesbank als „Hort“ der Monetaristen und es gibt wohl kein Land, in dem die ökonomischen Fakultäten der Universitäten so sehr in der Hand der Monetaristen sind, wie Deutschland. Wen wundert es also, dass auch sehr viele Finanzjournalisten, die an eben jenen Universitäten studiert haben, monetaristische Positionen vertreten?
Inflation is causing real pain. But raising interest rates will make it worse
(22.08.2022)
The current inflation situation hasn’t been about all goods in the economy getting more expensive at the same rate. Specific goods – food, fuel, cars and housing – have been experiencing massive price shocks, raising the general inflation level substantially. Controlling these changes would require aggregate demand to shrink to unbearable levels for average Americans – essentially making people too poor to buy goods, and thus alleviating bottlenecks. Rate hikes are not only ill suited to bring down these essential prices but risk a recession throwing millions out of work.
Raising interest rates is the wrong solution to the inflation problem, analyst says
(05.10.2022)
Raising interest rates to tame demand — and therefore inflation — is not the right solution, as high prices have been driven mainly by supply chain shocks, one analyst said.
Global manufacturers and suppliers have been unable to produce and deliver goods to consumers efficiently during Covid lockdowns. And more recently, sanctions imposed on Russia have also curtailed supply, mainly of commodities.
Congress eyeing ‘NOPEC’ bill to take on Saudi Arabia
Senate Majority Leader Charles Schumer (D-N.Y.) recently floated using the legislation, known as “NOPEC,” as one way to respond to the group, which includes Saudi Arabia and Russia.
Some lawmakers on both sides of the aisle have gone even further, saying that the decision by the Saudi-led group to reduce production by 2 million barrels a day is a reason to significantly shift relations with Riyadh.
Biden vows ‘consequences’ for Saudis after OPEC+ cuts output
“There’s going to be some consequences for what they’ve done, with Russia,” Biden said. “I’m not going to get into what I’d consider and what I have in mind. But there will be — there will be consequences.”
Sen. Bob Menendez calls for end all cooperation with Saudi Arabia over OPEC+ oil cut
„The United States must immediately freeze all aspects of our cooperation with Saudi Arabia, including any arms sales and security cooperation beyond what is absolutely necessary to defend U.S. personnel and interests,“ wrote Menendez, who represents New Jersey and serves as the chair of the Senate Foreign Relations Committee.
Saudi-Russian Collusion in Broad Daylight Sends a Clear Message to Biden
This is extremely rancid geopolitics on the Saudis’ and Russians’ part. The former are cynical, intent on raising the price of oil and increasing revenue. They‘re also a political ingrate in their relationship with the United States. With the Russians, it‘s all about creating discord between the United States and European Union in the hope that the EU will pressure Ukraine into accepting annexations by Russia and achieve a cease-fire.
The United States and the EU must now realize a strategic fact of life: They have no ally in OPEC.
OPEC‘s Slap in the Face Shows Biden Critics Were Right About Meeting With Murderous Saudi Prince
President Joe Biden has a lot of reasons to be furious with his national security team who, against his better judgment, systematically pressured him for 18 months to do an about-face on Saudi Arabia.
The White House has reportedly been in a state of „spasm and panic“ since Wednesday, when it became clear that several of the U.S.‘s Persian Gulf partners, led by Saudi Arabia and the United Arab Emirates, were set to commit what the White House considered „a hostile act“: an extensive cut in oil production coordinated with Russia‘s Vladimir Putin, which will send oil prices soaring and very likely harm Democrats in the U.S. midterm elections in November.
Inside the White House’s failed effort to dissuade OPEC from cutting oil production to avoid a ‘total disaster’
(05.10.2022)
But that effort appears to have failed, following Wednesday’s crucial meeting of OPEC+, the international cartel of oil producers that, as expected, announced a significant cut to output in an effort to raise oil prices. That in turn will likely cause US gasoline prices to rise at a precarious time for the Biden administration, just five weeks before the midterm elections.
Saudi Arabian minister of state blames high US gas prices on lack of American refinery production
„Oil is not a weapon,“ al-Jubeir said. „It‘s not a fighter plane. It‘s not a tank. You can‘t shoot it. You can‘t do anything with it. We look at oil as a commodity and we look at oil as important to the global economy in which we have a huge stake. The idea that Saudi Arabia would do this to harm the U.S. or to be in any way politically involved is absolutely not correct at all.“
The OPEC+ Cut Is A Disaster For President Biden
Saudi Arabia, the country that will spearhead the production cuts (Russia is already producing at its decreased target), has put the Biden Administration between a rock and a hard place only several weeks before the midterm elections. Confronted with the prospect of rising gasoline prices, the White House needs to react swiftly if it does not want to be seen as weak.
Putin and the prince: fears in west as Russia and Saudi Arabia deepen ties
(05.10.2022)
Instead, Joe Biden finds himself staring down a partner in the Middle East whom he had personally visited during the summer as the extent of the supply crisis became apparent. Biden walked away empty-handed and, as a result, faces the uncomfortable prospect of taking high bowser prices to midterm elections. Perhaps more importantly for the US president, a rise in oil prices could be seen as helping fund Putin’s war effort.
Putin Finally Finds a True Friend in Saudi Arabia
(05.10.2022)
The kingdom is putting the global economy and its own future sales at risk to help bankroll his illegal war.
African Petroleum Producers Organization supports OPEC oil production cut
“It is a decision well taken,” said APPO secretary-general Dr Omar Farouk Ibrahim. “I believe it is the right thing to do to save the industry and also to ensure that there is stability for today and tomorrow.”
The decision by OPEC, which includes major oil producers Russia and Saudi Arabia, as well as African countries and APPO members Nigeria, Algeria, Angola, Congo and Libya, saw the price of Brent crude oil rise 1.5% to more than $93 a barrel.
Explainer: Why Russia stands to gain most from OPEC+ oil production cuts
(06.10.2022)
OPEC+ includes 13 members of the Organization of the Petroleum Exporting Countries and 11 allies led by Russia.
On Thursday, oil market watchers said that based on pure maths and OPEC+‘s latest production data Russia was indeed set to benefit most from the decision.
The Saudi snub of Biden is a disaster. Democrats must respond.
Republicans are surely excited about the news that a group of oil-producing countries led by Saudi Arabia and Russia will slash oil production by 2 million barrels per day. In addition to threatening the global economy, it also could mean the specter of higher energy prices heading into the midterm elections, bolstering GOP attacks at a time when their potency has faded.
Biden’s Choice After OPEC Cuts: Woo Saudi Arabia, or Retaliate?
Senator Chuck Schumer of New York, the majority leader, said Saudi Arabia’s decision to ally with President Vladimir V. Putin’s Russia to shore up oil prices was a grave mistake.
“What Saudi Arabia did to help Putin continue to wage his despicable, vicious war against Ukraine will long be remembered by Americans,” he said. “We are looking at all the legislative tools to best deal with this appalling and deeply cynical action.”
Biden zu Beschluss der OPEC+: Wir prüfen Alternativen
(06.10.2022)
US-Präsident Joe Biden hat enttäuscht auf die Entscheidung der Ölallianz OPEC+ reagiert, die Ölproduktion zurückzufahren. Auf die Frage, was seine Reaktion sei, sagte Biden gestern in Washington schlicht: „Enttäuschung.“
Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut
(04.10.2022)
The first rumor was that Russia was pushing OPEC+ to implement a 1 million bpd production cut. The group was later reportedly considering a production cut between 500,000 bpd and 1 million bpd. Shortly after, yet another source said that OPEC+ was considering an even larger cut of more than 1 million bpd. The latest news from OPEC+ delegates suggests that the group is considering yet another option: a 2 million bpd cut.
OPEC and its allies, including Russia, approved a two million barrel-a-day cut in oil production on Wednesday. Biden is fuming
Iran Nuclear Deal: Protests in Iran make restoring the JCPOA more urgent than ever
If the idea of withdrawing from the JCPOA was always bad, it is even more detrimental now considering the political shifts in Tehran. The moderate administration of Hassan Rouhani which sought better relations with the West has been wholly discredited by Trump’s aggressive policies. The hardliners who now dominate the whole political landscape in Iran have always been skeptical of the JCPOA.
Moreover, an influential faction within the hardline camp sees the JCPOA as irrelevant at best and constraining Iran’s security options at worst. According to this line of thinking, Iran has already weathered the storm of the U.S. sanctions. Following on from that, what Iran needs now is not to get sanctions lifted, but rather to further immunize Iran from them by seeking closer ties with Russia and China. Iran notably has become a full-fledged member of the Shanghai Security Organization.
Bundeswirtschaftsminister Habeck wirft mehreren Staaten – darunter den USA – vor, überhöhte Preise für Erdgas zu verlangen. Er spricht von „Mondpreisen“. #Energiekrise
Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut
The first rumor was that Russia was pushing OPEC+ to implement a 1 million bpd production cut. The group was later reportedly considering a production cut between 500,000 bpd and 1 million bpd. Shortly after, yet another source said that OPEC+ was considering an even larger cut of more than 1 million bpd. The latest news from OPEC+ delegates suggests that the group is considering yet another option: a 2 million bpd cut.
Teure Energie treibt Erzeugerpreise im Euro-Raum
Die Produzentenpreise in der Industrie erhöhten sich im August um 43,3 Prozent im Vergleich zum Vorjahresmonat, wie das Statistikamt Eurostat heute mitteilte. Im Juli lag das Plus bei 38 Prozent.
Allein im Energiebereich gab es im August eine enorme Verteuerung im Vergleich zum Vorjahresmonat von 116,8 Prozent.
Gazprom has just released a statement that basically says it will stop sending gas to Europe through Ukraine. It’s naturally connected to the Nord Stream explosions and it’s an attempt to either drive prices up much more ahead of winter or an indication that deliveries will stop
(28.09.2022)
Oil Prices Could Be Set For Another Sharp Rise
OPEC and its sometime collaborator when interests align, Russia have fallen short of producing up to full quota levels by a significant amount. (…)
The Dallas Fed put out a report documenting the OPEC shortfall as well that points to key source of underperformance at the feet of none-other than Saudi Arabia.
5. Pipeline / LNG Terminals Drei schwimmende Flüssiggas-Terminals bis Ende 2022
– Wilhelmshaven, im Bau
– Brunsbüttel, seit 23.09. im Bau
– Lubmin, seit 20.09. im Bau
– Pipeline-Gas Frankreich ab Mitte Okt. 2022
Gasspeicher ?? zu 91 Prozent voll, Energie-update 26.09.2022
1. Gasspeicher: ?? 91,02%, EU: 87,41%, Trend: +
2. ?? Ziele: 01.10. 85% & 01.11. 95%
3. ?? Ziel: 01.11. 80% (14 v. 18 EU-Länder erreicht)
4. Gaspreise… #gasspeicher #gas #Energiekrise
Vor Herbstlohnrunde: 32.000 bei ÖGB-Demos gegen Teuerung
Der ÖGB bekam unmittelbar vor Beginn der Demos auch Unterstützung von höchster politischer Stelle. Bundespräsident Alexander Van der Bellen teilte via Twitter mit, dass er die Anliegen der Kundgebungen unteAuf Bannern und Transparenten hieß es etwa „Kostenexplosion stoppen“ und „Keine Profite mit Hungersmiete“. Auf einem Banner des Pensionistenverbands, der sich den Demos anschloss, hieß es: „Wir wollen keine Millionen, wir wollen essen, heizen, wohnen“.rstütze.
How the Saudis embarrassed Biden over oil prices
If the United States and Iran successfully wrap up their nuclear negotiations, Tehran will be free once again to sell its crude legally. According to one energy analyst, Iran could put 1 to 2 million barrels per day on the market rather quickly, which means an abundance of supply and lower returns (not to mention more competition) for the Saudis. While the nuclear talks have again hit a standstill over last-minute disputes, Riyadh doesn’t want to see oil drop to $65 a barrel and is therefore signaling to the market that adjustments will be made in the event Iran is able to return as a full player. Frankly, OPEC has gotten used to $100 a barrel crude, and it has no intention of going back to the days when supply vastly outstripped demand.
Further OPEC+ Production Cuts Could Be Looming
(06.09.2022)
“The simple tweak shows that we will be attentive, preemptive and pro-active in terms of supporting the stability and the efficient functioning of the market to the benefit of market participants and the industry,” Prince Abdulaziz bin Salman said.
An Iran deal „could add up to 1m barrels/day to the market, BofA said, estimating that oil prices could temporarily drop by $10 to $15 per barrel. But OPEC+ would likely react swiftly, with other members taking some production out of the market“.
Brent Crude has declined by more than 25% since March, when it hit $127 a barrel. If the U.S. and Iran come around to re-signing the JCPOA, an additional 1m bpd of Iranian crude could enter the market. OPEC+ is taking preparatory steps to ensure prices don’t plummet
U.S. natgas falls 3% to 4-week low on drop in oil and global gas prices
Oil prices fell by around 4% on Wednesday to their lowest since Russia invaded Ukraine on demand fears stoked by looming recession risks and downbeat Chinese trade data.
If sanctions lifted, Iran can meet Europe‘s energy needs
Referring to the energy crisis in Europe, the Iranian Foreign Ministry Spokesman said that if JCPOA negotiations are successful and unilateral sanctions against the country are lifted, Iran can meet most of Europe‘s needs.
Iran will Gas nach Europa liefern. Außenamtssprecher Kanaani: „Wir haben bekanntlich die notwendigen Gas-Reserven und das Potenzial.“ Voraussetzung sei aber, dass USA die Wirtschafts-Sanktionen aufhöben und Wiener Atomabkommen wieder in Kraft trete.
„Kein Ende in Sicht“ – Experten mit düsterer Prognose
Mitteleuropa leide unter einer generellen Energieknappheit. Der Energiehandel „sieht weder auf österreichischer noch auf europäischer Ebene konkrete Maßnahmen und nachhaltige Schritte, diese Knappheit zu beseitigen“.
#Habeck erklärt die Gas-Umlage und räumt ein, dass weitere Umlagen kommen könnten – Feuerwerk an Wut und Warnungen folgt
Bayerns Ministerpräsident Markus Söder befürchtet wegen der #Energiekrise in Deutschland einen Abstieg ganzer Bevölkerungsschichten und eine Pleitewelle.
Energy price inflation: how the UK and EU could fight it
Is there international action that can be taken now?
It appears increasingly likely that some forms of coordinated international action will be taken, mirroring responses to the global financial crisis, the eurozone debt crisis and the Covid pandemic.
The former Italian prime minister Mario Draghi floated the idea of “a cartel of buyers” at a meeting with the US president, Joe Biden, in May. This would involve large oil consumers working together to negotiate prices.
An Iran nuclear deal revival could dramatically alter oil prices — if it happens
But so far, it seems there are a few remaining sticking points that are proving fairly difficult to resolve. The main issue of contention between the Iranian and Western camps is an ongoing investigation by the International Atomic Energy Agency — the U.N.’s nuclear watchdog — into unexplained traces of uranium found at Iranian facilities in the early 2000s. Tehran wants the investigation closed before they’ll accept any deal; the IAEA and U.S. and European governments are so far refusing.
G-7 nations back plan to cap Russian oil prices in a bid to drain the Kremlin’s war chest
Energy analysts have been highly skeptical about the integrity of the proposal, however, warning the policy could backfire if key consumers such as China and India are not involved.
Oil prices were higher on the news.
Putin has pulled off a shock win that could destroy the free world
We risk ending up with calamitous poverty, civil disobedience, a new socialist government by next year, a break-up of the UK, nationalisations, price and incomes policies, punitive wealth taxes and eventually a complete economic and financial meltdown and IMF bailout. The situation in the EU is, if anything, worse.
This is not a plea for pacifism, for looking away when Ukraine is being illegally invaded by a savage regime. Britain was – and remains – morally right to back Ukraine in a carefully calibrated way. Instead, this is a plea for an economic counter-offensive, for Liz Truss, the next PM, to tackle Putin’s economic and energy war head-on.
Energie-Preise zu hoch – Bäckereien vor dem Aus
Von der Bundessparte Gewerbe und Handwerk heißt es dazu gegenüber der APA, dass für einen kleinen, regionalen Bäckereinahversorger mit „vergleichsweise sehr günstigen Energieverträgen“ die Kosten von 17.600 Euro auf 54.000 Euro im Jahr rasant gestiegen seien.
Zudem sei in den letzten Monaten auch der Preis für Getreide und Mehl stark gestiegen.
Sinkende Reallöhne: Jedem fünften Briten droht Armut
„Großbritannien erlebt bereits den größten Rückgang der Reallöhne seit 1977, und ein harter Winter droht, da die Energierechnungen auf 500 Pfund im Monat schnellen werden“, sagte RF-Expertin Lalitha Try.
‚Everything has gone up!‘ Britons struggle to make ends meet as wages stagnate
Rising food prices, soaring petrol prices and sky high energy bills are pushing households into poverty as wages fail to keep up with demand.
Bristol residents have been telling express.co.uk how they are struggling to find the extra money to pay for increasing rents and bills.
Warnung vor höheren Lebensmittelpreisen
Der Einzelhandel und die Lebensmittelhersteller kämpfen mit anziehenden Preisen etwa für Energie und Logistik, aber auch Rohstoffe sind auch in Folge des russischen Angriffs auf die Ukraine teurer geworden.
China‘s yuan slid to the weakest in two years as hawkish Fed signals more rate hikes
Another driver is from the government‘s side, as Chinese authorities were tolerant of a „gradually“ weaker yuan, which can benefit exporters by making the price of their goods more competitive.
Italien plant weitere Maßnahmen gegen Energiekrise
Italien befindet sich derzeit im Wahlkampf.
Energiekrise: Frankreich will Strompreise länger deckeln
Die Preise würden bis Ende 2022 höchstens um vier Prozent erhöht, versicherte Wirtschaftsminister Bruno Le Maire. Im kommenden Jahr würden außerdem keine Anpassungen nachgeholt. Auf diese Weise sollten die Belastungen für Verbraucher weiter eingedämmt werden. Wie die neuen Maßnahmen konkret aussehen sollen, präzisierte er nicht.
Bundesregierung: Habeck sagt Änderung der Gasumlage zu
Bundeswirtschaftsminister Robert Habeck hat eine Änderung der geplanten Gasumlage zugesagt. Mit der Änderung soll verhindert werden, dass von diesen Zusatzzahlungen der Gaskunden auch Unternehmen profitieren, die dies wirtschaftlich nicht benötigen.
Stromkosten in Deutschland steigen auf Rekordhoch
Anfang August durchbrach der langfristige Börsenstrompreis für Deutschland zum ersten Mal die Grenze von 400 Euro pro Megawattstunde. Der sogenannte Year-Ahead-Preis gilt für den Großhandelsbezug von elektrischer Energie im Zeitraum der nächsten 12 Monate – also bis August 2023. Das bedeutet: eine Verzehnfachung der Stromkosten im Vergleich zu den vergangenen Jahren. Der Durchschnittspreis für eine Megawattstunde lag zwischen 2010 und 2020 bei 41,1 Euro.
As the EU bails out Germany, we should thank God we left
The result is that the EU faces a winter like that endured by Britain under Sir Edward Heath: with energy rationed, perhaps through planned outages. For fans of the EU Sir Edward has long been a totemic figure: the Prime Minister who took us into the bloc without bothering to ask the people in a referendum. How ironic that the EU’s energy policy is now leading it down the same road as Heath’s Britain.
Mehrkosten im mittleren vierstelligen Bereich – das wird ein heißer Winter trotz kalter Wohnungen
Der größte deutsche Gasimporteur Uniper steht seit einigen Tagen unter staatlicher Kuratel. Ohne weitere Milliardenspritzen würde das Unternehmen binnen Tagen seine Gaslieferungen nicht mehr bezahlen können. Um dies zu verhindern, verkündete Wirtschaftsminister Habeck gestern eine Gasumlage – bezahlt von allen Gaskunden als Aufschlag auf den Gaspreis pro Kilowattstunde. So weit, so gut. Problematisch ist jedoch, dass diese Umlage von Habeck und den berichtenden Medien missverständlich so dargestellt wurde, als beschriebe sie die „gesamten“ zu erwartenden Mehrkosten. Das ist jedoch falsch. Die mittlere dreistellige Summe pro Haushalt für die Umlage ist lediglich für die Rettung von Uniper und Co. – die eigentliche Preissteigerung wird deutlich höher ausfallen und mindestens zu einer Verdreifachung der Endkundenpreise führen. Wir reden hier also über Mehrkosten im mittleren vierstelligen Bereich.
Gaspreisindex stieg im Jahresvergleich um 323 Prozent
Der Österreichische Gaspreisindex (ÖGPI) zeigt weiter steil nach oben. Laut Energieagentur wird er im August im Vergleich zum Juli um 23 Prozent zulegen, gegenüber dem August 2021 liegt er gar um 323 Prozent höher.
Was auf Gaskunden zukommt
Die von der Regierung beschlossene neue Gasumlage verteuert die Energie zusätzlich. Gerade für Familien können Mehrkosten von über 1000 Euro im Jahr entstehen, Zusätzlich zu den höheren Gasrechnungen, die von einigen Stadtwerken kommen dürften, wird ab Oktober eine neue Energie-Umlage zu Buche schlagen. Diese soll, so kündigte Bundeswirtschaftsminister Robert Habeck (Grüne) an, zwischen 1,5 bis 5 Cent pro Kilowattstunde liegen. Habeck bezifferte die Mehrkosten auf mehrere Hundert Euro pro Haushalt, die auf die Verbraucher durch die Umlage zukommen.
Bundeskanzler Olaf Scholz (SPD) hatte zuvor von einer Erhöhung der Gaspreise um zwei Cent pro Kilowattstunde gesprochen – und von zusätzlichen Mehrkosten von jährlich 200 oder 300 Euro für eine vierköpfige Familie. wie Vergleichsportale vorrechnen.
Nächster Energie-Wahnsinn: Jetzt kommt die Sondersteuer für Gas! Die BuReg plant eine Gas-Sondersteuer, mit der alle Bürger zur Kasse gebeten werden sollen – mit bis zu 1000 weiteren Euro pro Jahr. Davon haben sie wohlgemerkt noch keine einzige kWh mehr an Energie erhalten.
Saudis Unwilling To Upset Putin As Biden Begs For More Crude
(Jul 03, 2022)
The world’s largest crude oil exporter, Saudi Arabia, continues to keep close ties with Russia while the top oil consumer, the United States, pleads with major producers—including the Kingdom—to boost supply to the market and help ease consumers’ pain at the pump. While the U.S. and its Western allies are sanctioning Moscow and banning oil imports from Russia, U.S. President Joe Biden is also turning to Saudi Arabia to ask it to pump more oil as Americans pay on average $5 a gallon for gasoline.
France Says Western Powers Should Open Oil Markets to Iran and Venezuela
President Nicolás Maduro: “I would tell President Macron: Venezuela is ready to receive all the French companies that want to come to produce gas and petrol for the European market, for the global market. You are welcome to come whenever. The road is paved. We are prepared, ready and happy to do it.”
#BREAKING France wants oil from Iran, Venezuela back on the market: Macron‘s office
(19 hours ago)
Powers need to study all oil options, including Iran, Venezuela -France
„There are resources elsewhere that need to be explored,“ a French official said on the sidelines of a G7 summit in Germany, when asked about how to alleviate high oil prices.
Maduro Forms Energy Commission With Kuwait, Continuing Pushback Against US “Blackmail”
(15.06.2022)
In Kuwait on Tuesday, the fourth stop of his tour of the Middle East and North Africa, Venezuelan President Nicolás Maduro, formed a joint oil and gas commission aimed at strengthening the Organization of Petroleum Exporting Countries (OPEC+) and stabilising global oil prices.
Oil prices end higher as the U.S. announces new sanctions on Iran
(16.06.2022)
Oil futures climbed on Thursday, shaking off early losses from economic growth worries in the wake of the Federal Reserve’s latest interest-rate hike, to finish higher after the U.S. announced new economic sanctions on Iran.
Oil rises $2/bbl after G7 vows new Russian sanctions
Oil rose $2 a barrel on Monday on the prospect of even tighter supplies loomed over the market as the Group of Seven nations promised to tighten the squeeze on Russian President Vladimir Putin’s war chest while actually lowering energy prices.
Bundesnetzagentur-Chef Müller : Verdreifachung des Gaspreises möglich
Laut Klaus Müller, Chef der Bundesnetzagentur, könnten die Verbraucherpreise für Gas extrem ansteigen. Der Grund ist, dass weniger russisches Gas in Deutschland ankommt.
RMT General Secretary on rail dispute
“RMT members are leading the way for all workers in this country who are sick and tired of having their pay and conditions slashed by a mixture of big business profits and government policy
“Now is the time to stand up and fight for every single railway worker in this dispute that we will win.”
RMT General Secretary Mick Lynch on today‘s rail strike: „@RMTunion members are leading the way for all workers in this country who are sick and tired of having their pay and conditions slashed by a mixture of big business profits and government policy.“
Großbritannien vor größtem Bahnstreik seit 30 Jahren
RMT-Generalsekretär Mike Lynch kündigte landesweite Streiks für den kommenden Dienstag, Donnerstag und Samstag an. Es wird mit mehr als 50.000 Streikenden gerechnet. Am Dienstag wollen auch die Beschäftigten der Londoner U-Bahn für 24 Stunden die Arbeit niederlegen.
Network Rail and Transport for London workers to strike due to job loss and pay concerns
The week of planned strikes across the country will impact London Underground (Tube), Overground, Elizabeth line and national rail services across the UK between 21 and 26 June 2022. Only around half of Britain’s rail network will be open on strike days, with a very limited service running on lines that will only be open from around 07:30 until 18:30.
This strike action comes as part of separate disputes with both the RMT over pensions, jobs and conditions, and with Unite over pay.