Massive US Oil Caverns Sit Empty and Will Take Years to Refill
- Nation’s oil reserve is at 40-year-low after historic drawdown
- Experts say refilling will take decades, if it happens at all
Workers who can’t afford crippling energy prices are being forced to pay even higher rates by the vulture providers.
Prepay meter scandal reveals workers being slowly crushed by energy debt
Just over half of states in the U.S. are struggling with slowing economic activity, which could be a signal of a looming recession, according to new research from the St. Louis Federal Reserve Bank.
Risk Of Recession In U.S. Increasing, Finds Fed Research
FRANKFURT – BASF said costs at its European sites must be cut to a “permanently” smaller size because of a triple burden of sluggish growth, high energy costs and over-regulation, with the German industrial giant’s boss throwing his weight behind a planned expansion in China.
BASF seeks ‘permanent’ cost cuts at European operations
Brandon’s handlers are going to be disappointed! Businesses are supposed to move to the US! Time to twist Olaf’s arm (again)! Maybe tell him that Germany needs to decouple from China, as well?! /s
With both the UK economy and Conservative Party in meltdown, Liz Truss has been ousted from office – part of an establishment coup to regain control of the Tories. But further explosions lie ahead, as the crisis of British capitalism deepens.
Britain: Truss forced to resign as Armageddon descends
Video via PTE “Road to Armageddon”
It’s official—Liz Truss had the shortest tenure of any prime minister in British history. Just 44 days after arriving in Downing Street, Truss’ regime was officially killed off on Thursday along with the United Kingdom’s ability to pretend any longer that it hasn’t fallen into absolute kakistocracy.
Liz Truss Quits as British Prime Minister After Just 44 Days in Office
Related:
Daily pictures: Long Live Larry!
WASHINGTON – Electricity bills for US consumers jumped the most since 1981, gaining 15.8% from the same period a year ago, according to the US Bureau of Labor Statistics.
US Electricity Prices Rise Most in 41 Years as Inflation Endures
Europe’s impending depression is not to be discounted in terms of its relevance to this side of the Atlantic pond. Since the turn of the century, US exports to the European Union have soared from $12.3 billion per month to $30.4 billion. That latter amounts to $365 billion on an annual basis.
Needless to say, when European GDP descends into a double-digit slide, demand for US exports will plunge, causing declines in production and employment on this side of the Atlantic.
Europe’s Coming Winter From Hell: Thanks for Your Sanctions War, Washington!
The energy crisis will divide Europe
German economic power is waning, and with its industrial base getting weaker and its population poorer, the willingness to support other members of the Eurozone will be more limited. This is not a recipe for stability, and it seems more likely than not that European solidarity is already past its high point.
Ms. Cat’s Chronicles 
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