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Change. Clearly it is a popular policy by the public and heading up to the next election it would be a strange decision for the government to row back on anything with public support. Can the government have it both ways, say yes to granting licences for oil and gasp projects but at the same time it commitments to net zero . New licences for the north sea is not a change in Government Policy, we were expecting to see more. The oil and industrys estimates show production will continue to decline in the north sea no matter what the Government Policy is it simply because there is not as much gas and oil as 50 years ago when we started extracting. What is left in the north sea is mostly oil. This is mostly exported, so there is little benefit to our bills from more extraction and in a cost of living crisis bills are a strong priority for the public. It is a strange decision ....
arthel: hi everyone i am arthel neville played through the big stores were prone here at this hour, record high gas prices and rising inflation continuing to drag down president biden s pole. approval rating below 40%. also a firefighter killed several others pulled from the rubble. the burning building and philadelphia. lasting for hours. an l.a. district attorney being criticized after the shooting death of two los angeles police officers. critics say the suspect s out of jail because of his soft on crime policies. we have live fox news coverage chad on the arrest the crew on capitol hill. breanne is in los angeles on the follow-up for those police officers killed in a line of duty. jonathan on the death of a firefighter in philadelphia. first will go to lucas and tomlinson. his life at the white house president facing first we have to ask how is he doing after falling off his bike this afternoon? bumpy roads for the president not figurative but literally. he fell o ....
Have a good time, we want to go to restaurants if we can afford it at all. as a result prices for many services, tourism related services, including travel, are high and continue to rise. this is probably only a summer phenomenon and i expect this in to ease overwinter. for now this part of inflation is sticky and the european central bank won t be too happy about that. as always, good to talk to you, thank you for your thoughts. to china now, and we ve seen further evidence the country s economy is under pressure. their latest manufacturing figures once again show weakness in, what is, the world s second largest economy. forjuly, the purchasing managers index came in at 49.3. any figure below 50 shows contraction and that means for four months in a row the manufacturing sector has got smaller. for some economists, ....
Short-term inflation. these bigger forces at work are causing the kind of inflation that we have now. eric: the president blames the gas prices on the war in ukraine. he blames vladimir putin and the oil companies themselves does not hold water to you? it is always great politically to blame big business. you are never going to not get points for that. but you also have to blame a global economy that got knocked back on its feet and is standing up again and huge demand amid constraint supplies. russia is a large oil exporter. and now for reasons that the democratic nations are fighting russia with these sanctions european countries are cutting back on purchases of a russian oil. the u.s. has. and as a result prices go up everywhere else they are chasing saudi oil they are chasing u.s. oil for their purchase. ....
Us is talking to european allies about banning imports of russian oil. as a result prices on global markets are shooting up. this is what has been happening. if you look a couple of weeks ago before the conflict in ukraine began, the price of oil was around $90 a barrel. todayit of oil was around $90 a barrel. today it went above $130 a barrel, a huge increase initial period of time. the same thing on the gas markets. a few weeks ago the price of wholesale gas in the uk was 200 p a fan and now it is 800 p a plan, a massive increase. high energy prices really matter. the cost of petrol and diesel is already at record levels but that may be just the start. levels but that may be ust the start. ., , start. here in the uk it has consequences start. here in the uk it has consequences for - start. here in the uk it has. consequences for household start. here in the uk it has - consequences for household energy bills, your gas, consequences for the cost of electricity we generate, a lot of ....