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President Donald Trump made a promise at a reception last week for Republican lawmakers that was as impossible as it was specific: He would drive down drug prices by as much as 1,500 percent — “numbers that are not even thought to be achievable,” he said. A price cannot drop by more than 100 percent, but Trump went on to make several other precise but clearly false numerical claims. The cost of gasoline had fallen to $1.99 a gallon in five states, he said; according to AAA, it was over $3 in every state. Businesses had invested $16 trillion in...

Gas prices often increase in the summer as more motorists hit the road, but this year’s pump prices have dropped to match the summer of 2021, the last time seasonal gas prices were this low. The national average is down about 3 cents per gallon from last week, returning to the price from a month ago, $3.16. One year ago, gas prices were at $3.574. Gas prices were also at a four-year low on Independence Day. The White House is attributing the phenomenon to President Donald Trump’s energy agenda, which Energy Secretary Chris Wright told The Daily Signal can be...

Two large California oil refineries are shutting down, triggering mounting concerns from state legislators, industry groups and many others.Assemblymember Mike A. Gipson of the Gardena district bluntly described his concern during a recent Sacramento hearing.“This is a tremendous loss,” Gipson told NBC Los Angeles, referring to the looming closure of the Phillips 66 plant near L.A. "The jobs that it holds, the individuals… working each and every day, those individuals live in my district, they shop in my district, they add to the economy in my district."Shutting down refinery powerhousesThe Phillips 66 and Valero’s Benicia sites are set to close...

Imagine waking up one morning to find that your savings are frozen, your credit cards stopped working, and the dollar bill in your wallet isn’t worth the paper it’s printed on. It sounds dramatic–something from a dystopian novel or a bad Hollywood thriller. But behind the scenes, in the hushed chambers of central banks and the chaotic pulse of financial markets, warning bells are sounding. The global economy isn’t just vulnerable–it’s one crisis away from a devastating reset.

After firing back at Bruce Springsteen for criticizing him during a concert tour, President Trump is now calling for “major investigations” into Springsteen and other celebrities for their support of his opponent, Kamala Harris, in the 2024 election. In addition to Springsteen, Trump also named two other singer/songwriters — Bono and Beyoncé — as well as longtime TV host, actress, and producer and l Oprah Winfrey. Giving the all-caps key his usual workout, Trump posted on his Truth Social platform on Monday, May 19: “HOW MUCH DID KAMALA HARRIS PAY BRUCE SPRINGSTEEN FOR HIS POOR PERFORMANCE DURING HER CAMPAIGN FOR...

WASHINGTON, May 19 (Reuters) - The U.S. Transportation Department is expected to declare that fuel economy rules issued under then President Joe Biden exceeded the government's legal authority by including electric vehicles in setting the rules, automakers said on Monday. Transportation Secretary Sean Duffy said the department's National Highway Traffic Safety Administration on Friday submitted its interpretive rule, "Resetting the Corporate Average Fuel Economy Program" to the White House for review. He said in a statement the prior administration had "illegally used CAFE standards as a backdoor electric vehicle mandate – driving the price of cars up."

Is Saudi Crown Prince Mohammed bin Salman trying to sabotage Joe Biden’s reelection bid? It’s quite possible. The Saudi leader, known as MBS, has made clear his disdain for President Biden, and his fury over insults lobbed at him by this White House. He is a powerful force behind the current surge in oil prices, which could — if sustained — contribute to Biden’s defeat. Oil prices are soaring — up 19 percent since the start of the year. Since they lag behind crude oil, gasoline prices have only jumped 14 percent so far. But, unless oil markets take a...

In Peru, protestors are resorting to violence in the streets after President Pedro Castillo imposed a curfew to curb recent anti-government protests over soaring gas and food prices. The curfew has since dropped and at least 4 people have died. Video is 5:04 minutes long

In a majority of states across the union, gas prices are now higher than they were on the day of Donald Trump's return to the White House on January 20, while in a handful they are exactly the same and only in a few they have fallen, according to AAA data. The numbers show that, after more than 100 days in office, the U.S. president is still struggling to keep his promise to lower prices at the pump for American drivers, especially as his administration's tariffs threaten further turmoil in the global markets. Gas prices surged under Joe Biden, driven...

Did Putin’s frogmen blow up Europe’s gas supplies? Western leaders blame ‘deliberate’ sabotage after Nordsteam pipe from Russia ruptured off Sweden causing 3000ft-wide bubbles and sending prices spiking Three leaks reported in Nord Stream 1 and 2 pipelines near Danish island last night and this morning Pipelines are leaking gas into the Baltic Sea, with one area more than 3,000ft wide churning with bubbles Danish PM Mette Frederiksen has said her government believes the leaks were caused by 'deliberate actions' Ukraine also pointed the finger at Moscow, describing the incident as a 'terrorist attack and act of aggression' Latvian Defence...

Gas prices going down. Vanity

Saudi Arabia is prepared to abandon its $100-a-barrel crude oil price target as it moves to increase output, signaling its acceptance of lower prices, according to the Financial Times. This decision comes despite earlier production cuts by OPEC+ members, which sought to keep prices high. Brent crude prices dipped below $70 earlier this month, the lowest since December 2021. Despite this, officials plan to boost production starting December 1, potentially extending a period of reduced prices. This marks a shift from Saudi Arabia's previous focus on price stabilization. Saudi Arabia's ramp-up in oil production, especially if paired with lowered prices,...

I live in central Illinois. Regular gas is pushing $4 a gallon with premium pushing $5 a gallon. I would guess this is related to Hurricane Beryl blowing through the gulf coast and Houston. Ouch...

During an interview on Tuesday for Wednesday’s BET News interview special “Black America Votes: The Biden Interview,” President Joe Biden said that his economic policies haven’t resonated with people “because the Republican Party and the MAGA Republicans have been opposed to it, and they’ve been beating up on it.” And because “it’s just taking time for people to see it. And the other thing is, there’s not been a very good job done about saying, this new billion-dollar bridge going over there is brought to you by Joe Biden.” But some of his policy agenda has “resonated for those who...

Californians pay more at the gas pump than residents of any other state in the United States despite Gov. Gavin Newsom’s (D-CA) so-called “plan” to crack down on windfall oil profits. “Is Gavin Newsom trying to help Donald Trump?” Is Wall Street Journal’s Allysia Finley question, citing his plan to raise fuel prices in Nevada and Arizona just before the November presidential election. Nevada and Arizona’s gas prices heavily reflect those in California due to them being significantly reliant (90 and 50 percent) on California for their fuel supply. According to recent reports, the California Energy Commission is looking to...

Senator Sheldon Whitehouse, a Rhode Island Democrat, has threatened former President Donald Trump with a new investigation into his reported promises to Big Oil. The Washington Post reported this week of a deal that Trump, the presumptive GOP presidential nominee, reportedly offered to top oil executives at a Mar-a-Lago dinner last month—raise $1 billion for his campaign and he will reverse dozens of President Joe Biden's environmental regulations and prevent new rules, according to people with knowledge of the dinner. According to the Post's sources, Trump said gifting him $1 billion would be a "deal," because of the taxation and...

The USA has called for Ukraine not to attack Russian refineries despite Russia's widespread offensive against several energy facilities in Ukraine. The Department of Defense has warned that such an attack could bring another spike in fuel prices worldwide. Michaelo Podoliak, advisor to Ukrainian president Volodymyr Zelenskyy, claimed that such facilities were legitimate military targets. In a recent interview, he also claimed that such an attack was not only legitimate but desirable on a worldwide level in order to weaken Russia's hold on the energy lobby. “Ukraine must destroy Russia's refineries. They have no impact on worldwide pricing, and are...

Reporting from Western New York: gas price at my local gas station jumped $0.13 in the last 24 hours. I've never seen a hike that fast. Is anyone else seeing the same thing? I already see gold prices shooting up. Is this gas price? Starting to catch up to it now?

Inflation ticked higher once again in March, with consumer prices up 0.4 percent over the previous month and 3.5 percent compared to one year earlier. The latest data marks the third month in a row that the consumer price index (CPI), a closely watched gauge of inflation, has come in hotter than expected, likely throwing cold water on hopes that the Federal Reserve would begin cutting interest rates soon.

It's nationwide knowledge that in early May the Colonial Pipeline company suffered a severe cyberattack that shut down its pipeline connecting Texas to the East Coast. On June 1, JBS Foods suffered another crippling cyberattack. According to industry estimates, JBS controls 20 percent of the slaughtering capacity for American cattle and hogs. The JBS attack also generated headlines. The FBI and security officials believe two criminal organizations conducted the attacks. Their names sound a bit like those of the sinister super gangs found in James Bond novels. However, these gangs aren't fiction nor are their crimes. A crime group called...