Wall Street capped a quiet day of trading with more losses Friday, as it closed the book on the worst year for the S&P 500 since 2008. The benchmark index finished with a loss of 19.4% for 2022, or 18.1%, including dividends. It’s just its third annual decline since the financial crisis 14 years ago
Last week, Saudi Arabia announced, in conjunction with OPEC+, that it would be cutting oil production in the face of dropping prices. That decision came in spite of the Biden White House’s lobbying in favor of increased production, which included a sycophantic visit by President Joe Biden to Saudi Crown Prince Mohammed bin Salman. In
President Joe Biden and the Democratic caucus’ efforts to remake America’s electric power system into one that emits no carbon dioxide (net zero) by 2050 in order to prevent climate change are pipedreams. Physics indicates the goal is an exercise in magical thinking. Reality suggests the attempt to reach the impossible goal will have little
When the U.S. invaded Afghanistan 20 years ago, conspiracy theorists on the Left cried, “No War for Oil!” The real reason for the Bush administration’s invasion was to topple the Taliban government and make way for a lucrative oil pipeline sought by friends of oilman Dick Cheney. The fact that these same progressives had just spent
As summer approaches, consider the possibility of electrical power blackouts at major American cities in combination with extremely hot weather. It could have a debilitating effect on public health. According to a study done by a team of scientists from several American and Canadian universities and published in the journal Environmental Science and Technology, new
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