Tag: Economy

Low Unemployment Is Good. Bank of America Disagrees.

As Klippenstein and Schwarz note, the memo “tells us what we suspected all along: The most powerful economic actors in the U.S.—entities like Bank of America and its clients—do not like working people to have power.” But this should probably come as no surprise: Intermittent presidential advisor and capital-class amanuensis Larry Summers has, in similar […]

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Inside the Elite, Underpaid, and Weird World of Crossword Writers

For would-be constructors without such personal connections, there’s the Crossword Puzzle Collaboration Directory. The Facebook group launched in 2018 with an associated Google form that pairs newcomers with mentors. It has always been explicit about its aims to provide resources to underrepresented groups: “This matching form is intended specifically for [women, people of color, LGBTQIA+ […]

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Declining Gas Demand and Oil Prices Push National Average Down Again

Since Monday, the national average for a gallon of regular gasoline has declined eight cents to $4.13. According to new data from the Energy Information Administration (EIA), gas demand dropped from 9.25 million b/d to 8.54 million b/d last week. The rate is 1.24 million b/d lower than last year and is in line with […]

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Two Cheers for the Inflation Reduction Act

The 15 percent minimum tax has The Wall Street Journal’s editorial board’s knickers in a twist because nearly half of the revenue would be raised from manufacturers. But the tax would fall only on businesses that average more than $1 billion in profits over three years. That means the tax would affect only 150 of the nation’s very biggest corporations, […]

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Confessions Of A Climate Convert

As my family can attest, admitting when I am wrong has never been easy for me; but I feel it is important that I share a recent, if rather late, realization I had. Before attending the Techonomy Climate event in March, I didn’t fully understand the scope and importance of the climate crisis. I am sharing […]

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Pump Prices Fall Again, But Will the Trend Stall?

WASHINGTON, D.C. —The national average for a gallon of gas fell to $4.21, down 14 cents since last week. But a slight uptick in gas demand as more people fuel up could end the steady drop in daily pump prices. “We know that most American drivers have made significant changes in their driving habits to […]

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Business May Be Our Only Hope For Climate

These are not ordinary times for business. Nor are they ordinary for the world. This is a crisis time. We face challenges that, if not addressed, could doom us. Businesses must thus behave differently going forward. As a 35-year business journalist, I doubt if I could or would ever have written such words in the […]

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National Average Falls, But Rebounding Gas Demand and Crude Prices May Change Its Course

AAA Gas Prices Skip to content Today’s AAA National Average $4.278 Price as of 7/28/22 July 28,2022 Since Monday, the national average for a gallon of regular gasoline has fallen eight cents to $4.27. According to new data from the Energy Information Administration (EIA), gas demand increased from 8.52 million b/d to 9.25 million b/d […]

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The Economy Is Doing Amazingly Well for One That’s Possibly in a Recession

How is the U.S. economy doing otherwise? It’s taken some knocks in recent months, but when you consider it may be in a recession, it’s still doing remarkably well. Unemployment is a low 3.6 percent, a whisker above its 3.5 percent level before the Covid pandemic. “Under the Trump administration, we had the greatest economy […]

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Stuck in Reverse? Gas Prices Slide Lower   

WASHINGTON, D.C. — Lackluster demand for gas and lower oil prices led to pump prices falling again, down 17 cents since last week to $4.35. The steady decline is due to low domestic demand for gasoline and oil prices that remain in the mid-$90s per barrel. The price of gas has now fallen every day […]

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Warren: Fed chief threatening ‘surprisingly strong economic recovery’

Sen. Elizabeth Warren (D-Mass.) writes in a new op-ed that Federal Reserve Chairman Jerome Powell’s efforts to control inflation risk “triggering a devastating recession” and jeopardizing the country’s “surprisingly strong” post-pandemic economic recovery.  “Rising costs are an urgent problem, and interest rates play a key role in maintaining price stability. But urgency is no excuse […]

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National Average Drops as Gas Demand Remains Low and Crude Prices Slide

Since Monday, the national average for a gallon of regular gasoline has fallen eight cents to $4.44. According to new data from the Energy Information Administration (EIA), gas demand increased from 8.06 million b/d to 8.52 million b/d last week. However, the rate is 800,000 b/d lower than last year and is in line with […]

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Summertime Swoon? Pump Prices Fall Again

WASHINGTON, D.C. — The national average for a gallon of gas fell 15 cents since last week to $4.52. The steady decline is due to lower domestic demand for gasoline at the pump and a much lower global price for oil. The cost of a barrel of oil is in the mid-$90s, down from around […]

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Drop in Gas Demand Pushes Pump Prices Lower

Since Monday, the national average for a gallon of regular gasoline has decreased by seven cents to $4.60. According to new data from the Energy Information Administration (EIA), gas demand dropped from 9.41 million b/d to 8.06 million b/d last week, while total domestic gas stocks increased by 5.8 million bbl. The decrease in demand, […]

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Despite Increase in Demand, Gas Prices Keep Falling

WASHINGTON, D.C. — Pump prices declined again, falling another 12 cents since last week to $4.67. The dip in the national average for a gallon of gas occurred despite a slight rise in demand, likely due to robust July 4th holiday automobile travel. AAA forecasted that 42 million people would hit the roads for the […]

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Decreasing Oil Prices Push Pump Prices Lower

AAA Gas Prices Skip to content Today’s AAA National Average $4.467 Price as of 7/20/22 July 07,2022 Since Monday, the national average for a gallon of regular gasoline has decreased by a nickel to $4.75. According to new data from the Energy Information Administration (EIA), gas demand increased from 8.92 million b/d to 9.41 million […]

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Why is Venture Capital Acting Like Vanquished Capital?

The Wall Street Journal captures this cautionary, calamitous climate with this headline: “Silicon Valley Investors Give Startups Survival Advice for Downturn.” Thanks, buddy. It’s the financial equivalent of the Uvalde cops handing those tragically undefended kids survival guides for a mass shooting. Yes, this is an uncertain moment, what with the collapse of tech stocks […]

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Why is Venture Capital Acting Like Vanquished Capital?

The Wall Street Journal captures this cautionary, calamitous climate with this headline: “Silicon Valley Investors Give Startups Survival Advice for Downturn.” Thanks, buddy. It’s the financial equivalent of the Uvalde cops handing those tragically undefended kids survival guides for a mass shooting. Yes, this is an uncertain moment, what with the collapse of tech stocks […]

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Will Gas Demand Keep Falling, Or Is There a U-Turn Ahead?

WASHINGTON, D.C. — The national average for a gallon of gasoline fell to $4.80, down eight cents over the past week. The primary reason for the decline is lower demand at the pump as fewer people fueled up over the past two weeks. The lull, however, could end with the arrival of the summer driving […]

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Decreasing Gas Demand and Oil Prices Push Pump Prices Lower

AAA Gas Prices Skip to content Today’s AAA National Average $4.467 Price as of 7/20/22 June 30,2022 Since Monday, the national average for a gallon of regular gasoline has decreased by four cents to $4.85. Due to the delayed release of the Energy Information Administration’s (EIA) report on gasoline supply and demand last week, the […]

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Gas Prices Tumble, But How Low Will They Go?

WASHINGTON, D.C. (June 27, 2022)—A drop in the global price of oil helped the national average for a gallon of gas to fall for a second week to land at $4.89. Economic fears of a potential global recession leading to less demand for oil dropped the price to around $107 per barrel, down from $110 […]

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National Average Decreases as Crude Prices Decline

AAA Gas Prices Skip to content Today’s AAA National Average $4.467 Price as of 7/20/22 June 23,2022 Since Monday, the national average for a gallon of regular gasoline has decreased by four cents to $4.94. The Energy Information Administration will not release gasoline demand/supply and domestic oil inventory levels data this week due to “systems […]

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Dip in Oil Price and Gas Demand Gives Drivers a Break at the Pump

WASHINGTON, D.C. (June 21, 2022)—The national average for a gallon of gas fell below $5, bringing modest relief at the pump for beleaguered drivers. The primary cause is the tumbling cost of oil, which fell from $122 to around $110 per barrel due to fears of a global recession and its associated economic slowdown. As […]

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Pump Price Increases Ease as Gas Demand Dips

AAA Gas Prices Skip to content Today’s AAA National Average $4.467 Price as of 7/20/22 June 16,2022 Since Monday, the national average for a gallon of regular gasoline has decreased by a penny to $5.00. According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks fell by 700,000 bbl to 217.5 […]

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