Mid-Week Review – March 16, 2022
Russia and Ukraine looking for compromise in peace talks
Russia and Ukraine both emphasised new-found scope for compromise on Wednesday as peace talks were set to resume three weeks into a Russian assault that has so far failed to topple the Ukrainian government. Ukraine’s President Volodymyr Zelenskiy said the talks were becoming “more realistic”, while Russian Foreign Minister Sergei Lavrov said there was “some hope for compromise”, with neutral status for Ukraine – a major Russian demand – now on the table. Click Here to read more from Reuters.
Biden demands faster drop in gas prices as oil tumbles
President Joe Biden is using his bully pulpit to call out the tendency for gasoline prices to go up like a rocket when oil spikes, but only drop like a feather when crude crashes. Biden fired off a tweet Wednesday morning highlighting the painfully slow decline in gasoline prices in a bid to draw scrutiny to a decades-long trend that critics say hurts consumers by failing to pass savings along to drivers. Click Here to read more from CNN Business.
Gas could top $5 per gallon over the next six months. But experts warn the economic ripples could be even more dire
Unleaded gas, which reached a record $4.33 per gallon in the U.S. on Friday, could pass $5 across a large part of the country over the next six months, causing particular pain to low-income households and rural residents who may be forced to cut back on spending. “Unfortunately, I see prices going higher from here,” Scott Shelton, an energy specialist at the commodity and currency investment inter-dealer broker ICAP, told Fortune. “We could see a national average of between $5 to $6 per gallon all summer long, with diesel prices even higher.” Click Here to read more from Fortune.
Ukraine President Zelenskyy invokes Pearl Harbor, Sept. 11 in asking U.S. Congress to help fight Russia invasion
Ukraine President Volodymyr Zelenskyy invoked the attack on Pearl Harbor and the Sept. 11 terror strikes on America on Wednesday as he pleaded with the U.S. Congress to get more aid for his embattled country to fight against its invasion by Russia. Zelenskyy, who was greeted with three standing ovations from an audience of lawmakers, asked the U.S. to implement a no-fly zone over Ukraine to stem the Russian attacks. Click Here to read more from CNBC.
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