Dodgy question data? The Conspiracy of the Oil Price Collapse

WTI crude oil prices fell to their lowest point since early February on Thursday, abandoning virtually all gains since Russia invaded Ukraine. WTI crude for September delivery fell -1.5% to close at $89.26/barrel, while Brent crude for October delivery fell -2.1% to $94.71 /barrel. WTI crude has lost ~9.5% over the course of the week, … Read more

Opinion: Dazzling energy prices just don’t add up

A vehicle drives into a BP service station in central London, Great Britain, on Aug. 2. Oil started to rise late last year, well before the Russian invasion of Ukraine on February 24.HENRY NICHOLLS/Reuters UN Secretary-General António Guterres called them examples of “exceptional greed.” A Friends of the Earth campaigner said: “It’s unbelievable that these … Read more

Corporate profits rise as inflation skyrockets and real wages fall, report reveals

There are new calls for big companies to curb their large or “supernormal” profits to provide low-wage a much-needed domestic help. Most important points: Major oil and gas companies have nearly doubled their profits in six months An interim report shows productivity growth driving real wages is at a 60-year low Some experts say the … Read more