Financial Times (May 7)
“US fuel exports have surged to a record level as Europe and Asia lean on American energy supplies to make up for the shortfalls caused by the war in Iran.” Last week, America exported over “8.2mn barrels a day of refined fuels including gasoline, diesel and jet fuel,” a year-on-year increase exceeding 20%. Last week’s “huge demand for US energy” also transformed America into “a net exporter of crude oil for the first time since the second world war.” While this provides “a windfall” to US energy companies, “it also risks a political backlash for President Donald Trump as domestic pump prices rise.”
Tags: 20%, 8.2mn bbl, Asia, Backlash, Crude oil, Demand, Diesel, Energy, Europe, Exports, Fuel, Gasoline, Iran, Jet fuel, Record, Shortfalls, Surged, Trump, U.S., War, Windfall
CNN (December 27)
While the economic progress made during 2023 is remarkable, “there’s still a long way to go before inflation is where the Fed wants it,” partly because higher prices have been “pervasive” and “sticky.” They’re not easily reversible. “More than 90% of the items tracked in the Consumer Price Index are more expensive than they were in February 2020, with most price increases landing north of 20% and some (fuel and margarine) approaching 55%.”
Tags: 20%, 2023, CPI, Economic progress, Expensive, Fed, Fuel, Inflation, Margarine, Pervasive, Prices, Remarkable, Sticky
