higher prices

Inflation

Powell: Rate hikes may slow, but inflation fight hardly over – Associated Press

Federal Reserve Chair Jerome Powell sought Wednesday to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections. Powell suggested that the Fed may decide in coming months to slow its aggressive interest rate increases. Yet he also made clear that

Opinion

Opinion: The Future of the EV Market – Inside Sources

In today’s world, the idea of “going green” or becoming more eco-friendly has transformed from just a buzzword to a significant geopolitical issue. For example, a typical passenger vehicle in the U.S. emits about 4.6 metric tons of carbon dioxide annually — and that’s only a single vehicle! Climate scientists and environmental experts have been strategizing on

Crude oil

Biden vows ‘consequences’ for Saudis after OPEC+ cuts output – Associated Press

President Joe Biden said Tuesday there will be “consequences” for Saudi Arabia as the Riyadh-led OPEC+ alliance moves to cut oil production and Democratic lawmakers call for a freeze on cooperation with the Saudis. Biden suggested he would soon take action, as aides announced that the administration is reevaluating its relationship with the kingdom in

Energy

OPEC’s Production Cuts Embarrass Biden – Inside Sources

President Joe Biden went to Saudi Arabia earlier this year to bump fists and ask the oil-rich nation to increase oil output, essentially outsourcing oil production from U.S. oilfields to the Middle East in an effort to bring gas prices down. On Wednesday, Biden got his answer. The OPEC+ nations led by the Saudis announced

Crude oil

OPEC+ makes big oil cut to boost prices; pump costs may rise – Associated Press

The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections. Energy ministers cut production by a larger-than-expected 2 million barrels per day

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