In a new video (https://www.youtube.com/watch?v=OrJeb7JfHxY), CPM Group’s Managing Partner Jeffrey Christian discusses some issues regarding European Natural Gas supply that will come as a surprise to many people, including the extent to which Europe’s natural gas supply comes primarily from non-Russian sources, so that Europe is far less dependent on Russia for its natural gas than seems commonly believed.
Members of the Organization of Petroleum Exporting Countries (OPEC) have recently made the decision with other oil producers (OPEC+) to slash production by 2 million barrels a day. The move—seen as led by Saudi Arabia and Russia—immediately sent oil prices higher, defies entreaties by the Biden administration for production increases to ease inflation and stabilize the global economy, and could provide a vital cash lifeline to Vladimir Putin’s war efforts in Ukraine.
OPEC is scheduled to meet October 5th 2022 in Vienna Austria to consider strategic guidance to its members and allies on global crude oil production. NY Times journalist Clifford Krauss discusses the issues in play ahead of the meeting, calling on and quoting EPRINC’s Larry Goldstein for insight.
Established to provide a strong intellectual foundation for Ukraine’s economy, the Kyiv School of Economics (KSE) was founded in Kyiv Ukraine in 1996 under the auspices of the Economics Education and Research Consortium and the Eurasia Foundation. Over the years, several hundred students have matriculated and graduated from the school, and it has established a joint degree affiliation with the University of Houston. The school’s current president is Tymofiy Mylovanov, a PhD graduate of the University of Wisconsin, as well as an Associate Professor of Economics at the University of Pittsburgh.
A story in today’s Wall Street Journal (September 14, 2022) points out that the while U.S. consumers are getting a reprieve from high gasoline prices, a large jump in electricity and natural-gas costs are increasing their energy bills as winter approaches. The index for electricity in August climbed 15.8% over the same month a year ago, the biggest such 12-month increase since 1981. The story goes on to point out that electricity price increases have been driven by rising prices for natural gas, which powers about 37% of U.S. electricity production and that heating and cooking costs have increased 33% over the last 12 months.
