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California energy prices soaring due to “green” disaster

17 days ago -

Last year, residential electricity prices in California rose by 3 cents per kilowatt-hour, representing an increase of 11.9 percent. The average homeowner in California resultingly pays 28.9 cents per kilowatt-hour for electricity, making California the third-most expensive state for electricity in the United States behind Connecticut and Hawaii.

While a 3 cent per kilowatt-hour increase may not sound like much to some, it is only the beginning of California's energy woes....

Germany’s electricity prices DOUBLE as “green” nightmare kicks in

January 23, 2024 -

"Consumers who heat with electricity and live in E.ON's basic supply area have so far been able to benefit from relatively low prices for the basic heating electricity supply despite the energy crisis. But that will soon be over," said the North Rhine-Westphalia (NRW) consumer advice center. The notice period is two weeks after the firm has been provided with existing customers in the Alternative Tariff Offer.

NRW also gave important tips for those who wanted to leave....

Biden declares inflation “over,” orders companies to lower prices

December 01, 2023 -

Prices are artificially high right now, Biden says, because companies are still holding onto the idea of inflation. Because inflation rates have slowed and some shipping costs have fallen, Biden wants companies to lower their prices immediately so Americans can afford to buy more.

"Any corporation that has not brought their prices back down, even as inflation has come down, even as the supply chains have been rebuilt, it's time to stop the price-gouging," Biden said ...

Oil prices could double as Red Sea attacks continue, experts warn

January 11, 2024 -

The Houthis have been enacting what amounts to a blockade of shipping through the Red Sea and conducting ongoing attacks on cargos in response to Israel’s war against Hamas. As the hostilities in the Middle East continue to rise, the Yemen-based militants have been ramping up their attacks on vessels that could be linked to Israel in what they claim is a show of solidarity with Palestinians.

Goldman Sachs’ head of oil research, Daan Struyven, said in an interview on ...

GREEDFLATION: Study finds corporate profiteering significantly boosted global prices in 2022

December 12, 2023 -

The study by the Institute for Public Policy Research (IPPR) and Common Wealth think tanks looked at 1,350 companies listed on stock exchanges in the U.K., U.S., Brazil and South Africa. It found that major companies in the food, mining, oil and gas, technology, telecommunications and banking sectors leveraged their market power to implement substantial price hikes. This, in turn, ensured that their companies made "super profits."

"Such companies have been able to protect ...

Oil prices surge following large-scale clashes between Israel and Palestine

October 11, 2023 -

The amount of conflict between Israel and Palestine has reached a level not seen in months, and traders have responded by bringing up the price of oil by as much as five percent over the weekend of Oct. 6 to 8, with prices only stabilizing on Monday, Oct. 9. (Related: Israel-Palestine war causes GOLD PRICES to RALLY as demand for safe haven investment increases amid chaos.)

"An attack on Israel by Hamas may push the region to war, increasing geopolitical risk bid into ...

GREEDFLATION: Walmart prepares to increase prices despite reporting 7.33% profit growth

July 11, 2023 -

Walmart has been warning for months now that inflation in the United States may force the company to raise its prices. Walmart Chief Financial Officer John David Rainer said the corporation is "still feeling the effects of higher prices" caused by inflation. (Related: Wealthy shoppers now embracing discount stores amid worsening FOOD INFLATION.)

Rainey also refused to provide any information on which items might be marked up in the coming months, only noting that the shopping ...

GREEDFLATION: McDonald’s, PepsiCo raising prices beyond inflation to generate bigger profits

June 01, 2023 -

These price increases are ongoing. Many companies do not plan to change course and will continue increasing prices or keeping them at elevated levels even as some executives are warning that shoppers may become reluctant to spend at outlets that do not stabilize their prices. (Related: Inflation remains a problem for middle- and lower-income Americans as Biden's Federal Reserve keeps raising interest rates.)

PepsiCo, the New York-based food giant that owns everything from ...

India bans onion exports as government tries to control rising food prices

December 12, 2023 -

The latest move sees overseas shipments of onions prohibited until the end of March, with an exception being made for cargos that began loading before the notification was issued. The move comes after the Indian government took steps to release stockpiles of onions to protect consumers from rising costs late this summer.

India also recently placed restrictions on using sugar cane juice for the production of biofuels in an attempt to increase its reserves. They have ...

El Nino sends rice prices soaring, nearly reaching new 15-year peak

December 06, 2023 -

Thai white rice five percent broken (an Asian benchmark) has jumped by $57 over the past two weeks to $640 a ton following a period of relative calm, putting prices just short of the highest level since October 2008. Prices are up over 50 percent since the start of 2022.

Increased demand for Thai rice from unexpected buyers such as Brazil and the Philippines has contributed to the rise, according to Chookiat Ophaswongse, an honorary president of the Thai Rice ...

German economy collapsing after nation abandoned nuclear energy – prices soar, industries implode

November 19, 2023 -

In recent years, Germany has been phasing out coal and nuclear energy in a way that has been described in German media as "not well coordinated with the European Union." As a result, Germans are paying sky-high prices for energy that are completely unsustainable if the Germany economy is to stay afloat.

There are generally three main goals with effective energy policy: low prices, security of supply, and environmental protection with regard to carbon dioxide (CO2) emissions ...

McDonald’s records increase in PROFITS – thanks to HIGHER PRICES of menu items

November 02, 2023 -

On Oct. 30, the Golden Arches said it earned a total of $6.69 billion in revenue for the three-month period ending Sept. 30. That amount represents a 14 percent increase from the previous quarter's revenue and is higher than the $6.58 billion revenue projected by analysts at the financial market company Refinitiv.

Meanwhile, net income rose to $2.3 billion – $320 million higher than the $1.98 billion in the same period last year. Same-store sales in the U.S. increased ...

Putin bans diesel and gasoline exports, sending distillate fuel oil prices skyrocketing

September 24, 2023 -

"Temporary restrictions will help saturate the fuel market, which in turn will reduce prices for consumers" in Russia, the government's press office said on its website. The "temporary" ban came into force on Sept. 21, according to the government decree signed by Russian Prime Minister Mikhail Mishustin. The ban included all types of diesel, including summer, winter, and Arctic blends, as well as heavy distillates including gasoils. It also made exemptions for minor supplies, ...

Watchdog study: Biden’s food stamp expansion caused 15% SURGE in grocery prices

August 29, 2023 -

The U.S. Department of Agriculture (USDA) reportedly rolled out the revised nutritional standards for the Supplemental Nutrition Assistance Program (SNAP) in 2021 and expanded the program by 27 percent on average of pre-Wuhan coronavirus (COVID-19) pandemic levels, the Foundation for Government Accountability (FGA) found. The report also said the expansion bypassed Congress.

The report also found that overall spending has more than doubled between 2019 and 2022. Figures jumped ...

Spain’s ongoing DROUGHT pushes global olive oil prices to 26-year high

May 08, 2023 -

Citing data from the International Monetary Fund, CNBC reported that global prices of olive oil have hit $5,989.80 per metric ton (MT) – the highest in 26 years. Kyle Holland, analyst for oilseeds and vegetable oils at U.K.-based food data provider Mintec, warned that these high prices could stay at that level for an extended period. He attributed this price spike to bad weather in Spain, a major producer and exporter of olive oil.

"The issues contributing to prices trending ...

Kilo-WHAT?-hours: Electricity prices soar by nearly 30% under the Biden administration

a day ago -

The data showed that the energy index rose by 1.1 percent in March following a 2.3 percent increase in February. Despite the Federal Reserve holding interest rates steady since July 2023, inflation continues to pose a problem for policymakers and households.

"There is no improvement here, we're moving in the wrong direction," said Bankrate Chief Financial Analyst Greg McBride in an interview with Fox Business. "The usual trouble spots persist, like shelter, motor vehicle insurance, ...

Kellogg’s CEO faces backlash over “cereal for dinner” campaign amid rising grocery prices

a month ago -

The initiative, which suggests a more affordable dining option for families amid skyrocketing grocery costs in the form of Kellogg's breakfast ceral products, has faced backlash.

In a recent live interview on CNBC's Squawk on the Street, Pilnick promoted cereal for dinner as a cost-effective alternative for families as he addressed the increasing food costs. He argued that "the cereal category has always been affordable" and "a great destination when consumers are under pressure....

Rice prices hit 15-year high, increasing food insecurity for billions of people

January 02, 2024 -

The Thai Rice Exporters Association reports that the Asian benchmark Thai white rice 5 percent broken has risen for the third week in a row to hit $659 per ton. This marks its highest price since October of 2008 and represents a 38 percent rise in the price of rice so far this year.

It is a significant increase for a food staple that is considered essential for the diets of billions of individuals across Africa and Asia. There are also concerns that the El Niño weather ...

Oil prices could surge to $150 per barrel unless the U.S. increases exploration

October 23, 2023 -

CLR CEO Doug Lawler stated that oil production in the Permian Basin, much like other shale regions, may peak without increased exploration. Without such efforts, he anticipates oil prices reaching $120 to $150 per barrel, causing a significant impact on the industry.

During Hamm's American Energy Security Summit in Oklahoma City, where pro-oil presentations were made, various shale executives urged the Biden administration to adopt consistent policies that facilitate ...

Annual inflation surged 3.7% in August thanks to the jump in gas prices

September 14, 2023 -

The Consumer Price Index (CPI) for August showed that prices were 3.7 percent higher year-over-year, slightly higher than the 3.2 percent reading in July and also higher than what economists predicted inflation would be for the month. This is also far above the two percent inflation target of the Federal Reserve. (Related: U.S. household income FELL in 2022 for the third straight year due to inflation and rising cost of living.)

The rate of price increases for most ...