With egg prices more than doubling in the past year, calls are coming for an investigation into possible price gouging.
Mississippi company singled out as soaring egg prices prompt demands for price-gouging probe
Tag: supply and demand
Risk Of Recession In U.S. Increasing, Finds Fed Research
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
What if we cut the defense budget to give Americans inflation relief?
Media Prescribe More ‘Pain’ for Workers as Inflation’s Only Cure
Federal Reserve chair Jerome Powell is profit’s prophet and the corporate media are his cultish devotees, joining hands to sacrifice working people. In this cult, profit is sacrosanct.
Media Prescribe More ‘Pain’ for Workers as Inflation’s Only Cure
The Era Of Cheap Oil Has Come To An End
In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel. Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year as a way of countering fuel price inflation. Yet U.S. drillers are not in a rush to boost production. On the contrary, it seems production growth has lost its place among these companies’ top priorities.
The Era Of Cheap Oil Has Come To An End
Previously:
Xi Jinping’s grand welcome in Saudi Arabia compared to Joe Biden’s ‘cold fist bump’
Xi Jinping’s grand entry into Saudi Arabia that saw his Air China Boeing 747 flanked by jets of green and white smoke to represent the Gulf country’s flag has been contrasted with the lukewarm welcome received by Joe Biden during his visit to the country a few months earlier.
Xi Jinping’s grand welcome in Saudi Arabia compared to Joe Biden’s ‘cold fist bump’
Video via The National News
White House Leaves Door Open For Additional SPR Releases + It’s Implications
The White House said on Tuesday that it has many options to counteract OPEC+’s looming production cuts, including the release of even more crude oil from the nation’s Strategic Petroleum Reserves.
White House Leaves Door Open For Additional SPR Releases
Related:
The Implications Of U.S. SPR Withdrawals
Implications of OPEC-+ Production Cut
I think OPEC has not learned from its past mistakes, as it is not a good time to cut oil production by 2 million bpd in November 2022, especially at a time when global economies are under pressure. While higher oil prices at this juncture may bring much needed oil revenues to (national) oil companies and OPEC members, this will come at the cost of accelerating a global recession, bringing more misery to consumers. Consequently, it will weaken global oil demand and oil prices. Oil prices in the range of $70-$80/bbls at this difficult time could be a win-win situation for both producers and consumers, and shield global economies from collapsing. Consequently, the U.S. should take its own measures to enhance its domestic oil production, encourage EVs and halt further releases of the SPR. Running down the SPR will allow OPEC+ more flexibility to play around with production.
Meanwhile:
The Straw That Broke the Camel’s Back: The Best Way to Respond to Saudi Arabia’s Embrace of Putin
The Best Way to Respond to Saudi Arabia’s Embrace of Putin
But this claim is unjustified. OPEC has never cut production in such a record tight market and these production cuts will lead to unsustainably low oil inventories, sending the price of oil skyrocketing out of any “acceptable band.” Furthermore, the G-7 oil price caps plan is not targeted at OPEC; it is strictly limited to Russian oil.
Nor can this Saudi move be justified by the non-existent global recession its leaders cite. Presently markets are very tight, with lush 73 percent profit margins for Saudi Arabia. In other words, there was no immediate need for Saudi Arabia to reduce supply unless they were seeking to harm the U.S. to the benefit of Russia.
Non-existent global recession?!? Low oil inventories?!? Maybe Biden shouldn’t be releasing our oil from the Strategic Petroleum Reserve?! As for never cutting production, before, looks like they have!? 🤷🏼♀️
Interest rate hikes leading to recession, UN says
The United Nations has added its voice to the growing list of international organisations, including the World Bank and the World Trade Organisation, warning that interest rate hikes imposed by the US Federal Reserve are creating the conditions for a financial crisis and global recession.
Interest rate hikes leading to recession, UN says
DOJ, Senate Leader Continue To Stoke Irrational Fear That Drug Dealers Are Targeting Kids With Multicolored Fentanyl
People who fail to understand the basics of supply and demand continue to insist suppliers want to kill potential customers.
DOJ, Senate Leader Continue To Stoke Irrational Fear That Drug Dealers Are Targeting Kids With Multicolored Fentanyl
The DEA is just looking for more 💰 for the idiotic war on drugs! Most likely, they’ll just imprison more people for nonviolent offenses!
Ms. Cat’s Chronicles 
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