Tag: energy prices

Report: Biden has Taken over 200 Actions Against U.S. Oil

The Center Square
Oil Drilling

President Joe Biden and his administration have taken over 200 actions against the U.S. oil and natural gas industry as energy prices have gone up, according to a new report. 

“President Biden and Democrats have a plan for American energy: make it harder to produce and more expensive to purchase,” the Institute for Energy Research states in a new report. “Since Mr. Biden took office, his administration and its allies have taken over 200 actions deliberately designed to make it harder to produce energy here in America.”

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BlackRock CEO Hails High Energy Prices for ‘Accelerating’ Green Transition

Ohio Star Staff

BlackRock CEO Larry Fink said during a forum at the Clinton Global Initiative that increased energy prices are “accelerating” the transition to “green” energy.

“Because of the rising energy prices, we are certainly seeing the green premium shrink quite considerably. And so, the amount of investment dollars that are going into new decarbonization technology is accelerating, and accelerating very rapidly,” Fink told former President Bill Clinton.

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Another Key Inflation Indicator Surged to Highest Level Since 1983

Ohio Star Staff
woman in a grocery aisle with a mask and backpack on

A key inflation indicator increased to its highest level in 38 years while consumer demand remained strong despite soaring prices, the Commerce Department announced Friday.

The Commerce Department’s personal consumption expenditure (PCE) index grew 5.2% in January, exceeding the 5.1% Dow Jones estimate, the Commerce Department reported. The PCE is the Federal Reserve’s preferred measure of inflation, and January’s figure marks monthly the largest year-over-year increase since April 1983.

The PCE increased 0.5% on a monthly basis in January, the same pace as the previous three months, according to the Commerce Department. Including food and energy prices, overall PCE surged 6.1% since January 2021, marking the most annual growth since February 1982.

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Inflation Hits Highest Level in 39 Years

Ohio Star Staff
Large crowd of people shopping during the holidays

The Consumer Price Index (CPI) increased 0.9% in November, bringing the key inflation indicator’s year-over-year increase to 6.8%, the highest figure in four decades.

The CPI’s increase is the largest increase in four decades, up from October’s 6.2% according to the U.S. Bureau of Labor Statistics (BLS) report released Friday morning. Experts surveyed by CNBC projected inflation would increase 0.7% in November, translating to a 6.7% gain on a year-over-year basis.

“These are frighteningly high inflation numbers, the likes of which we haven’t seen for decades,” Allen Sinai, chief global economist and strategist at Decision Economics, Inc., told The Wall Street Journal.

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Shawn Parker Commentary: Joe Biden’s Policies Are Making Energy Prices Spin Out of Control

Ohio Star Staff

Energy prices are spinning out of control and we are facing a crisis of the working people like we haven’t seen since 2009. Energy prices have risen 30 percent on average and the winter has not yet arrived. Families will be faced with the hard decision of choosing between gas to get to work or paying for rent, healthcare, food, or other basic necessities. The economists at Texas A&M University pointed to the tipping point of the “housing recession” of 2010 as being fully caused by gas prices at the pump reaching $3.30 a gallon for a sustained period of 60 days.

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Biden Administration Downplays Rising Energy Prices, Says ‘Climate Crisis’ Is More Important

Ohio Star Staff

The White House downplayed surging energy prices in the U.S. and worldwide on Wednesday, arguing that the climate crisis was more important.

“Certainly, we all want to keep gasoline prices low, but the threat of the crisis — the climate crisis — certainly can’t wait any longer,” White House Press Secretary Jen Psaki told reporters Wednesday.

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