French Prime Minister Elisabeth Borne announced that the government seeks to fully nationalize power utility Electricite de France (EDF) in an attempt to combat the energy crisis in the region. The situation comes as the comany is facing a plethora of challenges, including massive debt.
The gas prices in the United States have steadily been on the decline recently with oil falling below $100 per barrel due to fears of global recession cutting demand. The situation comes as the prices of many stations were under $5 a gallon for regular.
Joe Biden's plea for lower gas prices has been criticized by Jeff Bezos in a tweet as "straight-ahead misdirection or a deep misunderstanding of basic market dynamics."