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News & Articles By Kevin Hughes
07/12/2022
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By Kevin Hughes
California returning to FOSSIL FUELS to avoid blackouts
Green energy-dependent California is set to return to fossil fuels in a bid to avoid further blackouts, proving that total reliance on renewable energy is easier said than done. The Associated Press (AP) reported on July 1 that California, a state seriously trying to “quit” fossil fuels, is once more looking at them to address energy […]
07/11/2022
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By Kevin Hughes
Amazon walks back plans to build 16 warehouses this year
Amazon is now in a perilous situation after spending billions to increase the size of its fulfillment network during the pandemic. It has been forced to either cancel or delay plans for 16 warehouses scheduled to be built this year. Four warehouses in Texas and two in Tennessee were among the 16 put on hold, along […]
07/07/2022
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By Kevin Hughes
Libya announces force majeure on oil exports amid continued blockades of production and ports
The Libyan National Oil Corporation (NOC) has announced force majeure on crude exports from its oil terminals amid ongoing blockades of production and ports that have seriously crippled Libya’s oil exports. Force majeure refers to an unforeseen set of circumstances preventing a party from fulfilling a contract. The announcement came after weeks of protests and closures amid the new rift […]
07/07/2022
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By Kevin Hughes
Another win for Moscow: Russia to resume transport of goods to Kaliningrad after EU steps in
Russia will resume the transport of goods in Kaliningrad through Lithuania after the European Union (EU) intervened. The group discarded the blockade, which meant that transport of goods between the Russian exclave and the mainland via Lithuania will continue. The EU made the decision before the North Atlantic Treaty Organization’s (NATO) 2022 Summit in the Spanish […]
07/07/2022
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By Kevin Hughes
Crypto broker Voyager Digital suspends customer trading, deposits, withdrawals and loyalty rewards
Digital asset brokerage Voyager Digital announced in a statement issued Friday, July 1, that it has suspended all customer trading, deposits, withdrawals and loyalty rewards. Voyager’s move follows that of well-known crypto staking and lending platform Celsius, which likewise halted all withdrawals, swaps and transfers between accounts due to “extreme market conditions” on June 13. Celsius has […]
07/06/2022
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By Kevin Hughes
Russia takes control of Sakhalin-2 oil and gas project, increasing stakes of its economic war with the West
Russia has taken control of the Sakhalin-2 oil and gas project in the country’s far east. Moscow’s decision to do so could drive out the project’s three investors and raise the stakes in its economic war against the West. A five-page decree signed June 30 by Russian President Vladimir Putin establishes a new company to […]
06/30/2022
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By Kevin Hughes
Survey reveals that more Americans are worried about their savings due to rising inflation rates
A recent survey revealed that the massive increases in everyday living expenses due to skyrocketing inflation rates are causing Americans to be nervous about their emergency savings. The June 23 survey conducted by Bankrate found that 58 percent of the 1,025 adult respondents were concerned about the amount they have in emergency savings. This followed a rising […]
06/30/2022
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By Kevin Hughes
Ecuador announces force majeure for oil, state of exception decree amid protests
The South American nation of Ecuador has announced force majeure for its oil industry, alongside a state of exception decree, amid nationwide turmoil. State-owned oil firm Petroecuador made the announcement on June 18, which applied to its exploration, exploitation, transport and commerce sectors – stopping exports in turn. The declaration followed protesters entering oil fields […]
06/24/2022
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By Kevin Hughes
International Energy Agency head tells EU: Prepare for Russian gas shutdown
International Energy Agency (IEA) Executive Director Fatih Birol has warned the European Union (EU) to be prepared for the likelihood of a total shutdown of Russian gas exports this coming winter. “Europe (sic) should be ready in case Russian gas is completely cut off. The nearer we are coming to winter, the more we understand Russia’s […]
06/23/2022
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By Kevin Hughes
Mustard shortage looms as drought, war affect biggest producers of mustard seeds
Hot dog toppings may look a bit different this year as global mustard shortage looms. The shortage is a consequence of an inadequate production year. Yields in Canada, the second biggest mustard seed producer in the world, dropped 28 percent – thanks to droughts during the last growing season. (Related: Drought-stricken Texas finally gets some rain, but it may not be […]
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