The cap prevents energy retailers from making excessive profits, but places no restrictions on other parts of the supply chain.
A variety of factors have caused the U.S. inflation rate to increase over the past few years, from the pandemic to the war in Ukraine.
Javier Ghersi/Moment via Getty Images
Rising inflation rates due to supply-side factors – COVID-19, Ukraine and supply chain shortages – make countering inflation difficult for the central bank.
A bigger-than-expected jump in inflation means the Fed may have to get more aggressive about interest rate hikes. An obscure economic indicator suggests it has room to do so.
None will address prices immediately. For now, the best option to keep warm this winter without breaking the bank is to shop around for the best electricity deals.
Our coal-fired generators are failing, Russia’s invasion of Ukraine has made the gas that fires the generators that are replacing them expensive, and it’s suddenly got cold.
An ethanol refinery in Chancellor, South Dakota.
AP Photo/Stephen Groves
Allowing the sale of gasoline that’s 15% ethanol year-round won’t have much impact on gas prices, but recent research shows that growing corn for fuel affects the climate – for the worse.
More than 6 million UK households may now be unable to heat their homes.
Several sites, such as this one near Freeport, Texas, store the hundreds of million of barrels in the United States’ Strategic Petroleum Reserve.
Department of Energy via AP
The shock waves from Russia’s invasion of Ukraine rippling through world energy, food and trade supply lines are profound, but not big enough to split the global economy
People in the Russian city of St. Petersburg stand in line to withdraw U.S. dollars and euros from an ATM. Ordinary Russians faced the prospect of higher prices as western sanctions over the invasion of Ukraine sent the ruble plummeting.
(AP Photo/Dmitri Lovetsky)
Over-reliance on sanctions and economic warfare measures have led to strategic complacency and the avoidance of negotiations on the part of the western governments.
People can act collectively to lower their energy use in an emergency.
Some motorists are willing to pay more for the price of gas. Others are considering trading in gas-guzzling cars for more efficient vehicles. The price of gas at a Petro Canada gasoline station in Ajax, Ont., on March 7, 2022.
THE CANADIAN PRESS/Doug Ives
Oil supply is very tight, and the current geopolitical crisis involving Russia, one of the world’s largest oil producers, has pushed prices over the edge.
The war in Ukraine will have major implications for energy and climate change, in Canada and the rest of the world, far into the future.
THE CANADIAN PRESS/Frank Gunn
New relationships between energy, geopolitical security and climate change policy flowing from the invasion of Ukraine are beginning to emerge, and the implications could be enormous.