Economy Archives - Page 27 of 56

CERN May Be Forced to Shut Down Large Hadron Collider Due to European Energy Crisis

The European Organization for Nuclear Research (CERN) maybe be forced to shut down its famous Large Hadron Collider (LHC) in Switzerland due to the growing energy crisis in Europe. CERN is already planning to shut down some of its particle accelerators amid the energy crisis in France. CERN, located near…

East Timor Uses China as Bargaining Chip during Energy Negotiations with Australia

East Timor is using China as a bargaining chip in negotiations with Australia's government over the construction of a gas pipeline from the resource-heavy Timor Sea. The Southeast Asian nation's President Jose Ramas-Horta said his country would be happy to enlist China’s help to facilitate the development of the pipeline.…

Judge Backs Biden, Rules in Favor of Wyoming Oil Lease Pause

A federal judge has sided with Democrat President Joe Biden's administration and ruled in favor of the government halting oil and gas leases in the state of Wyoming. On Jan. 27, 2021, President Joe Biden issued an executive order instructing the Department of the Interior (DOI) to temporarily pause all…

Shortage of Fracking Equipment Is Slowing US Shale Oil Output amid Energy Crisis

Fracking companies are reporting that shortages in hydrofracking equipment are causing shale oil output to slow down. Demand for fracking equipment has been quickly outpacing supply as the world battles a global energy crisis. The lack of gear is now hampering the expansion of U.S. oil and gas production. Halliburton…

Just 1% of Americans Describe Biden’s Economy as ‘Excellent’ Ahead of Midterms, Poll Shows

Just 1 percent of American voters describe the economy under Democrat President Joe Biden as “excellent,” a new poll has revealed. While 1% of registered U.S. voters said the economy is "excellent," the figure dropped to zero when the survey took into account the opinion of all adult Americans. The…

Exxon Takes Legal Action over Putin Blocking Exit from Russia

ExxonMobil is taking legal action against Russia after President Vladimir Putin blocked the Texas-based fossil fuel company from leaving the country. Exxon has taken preliminary steps to sue the Russian government after Putin intervened to block the corporation’s exit from his country. The Wall Street Journal reported on Tuesday that…

Russia Halts Gas Flows to Europe, Germany Claims ‘No Cause for Alarm’ Yet

Russia has halted gas supplies to Europe via a key European supply route citing maintenance issues, according to reports. Some European countries have warned that the move by the Russian government is retaliation for backing Ukraine in the war. The news of the supply suspension has also sent prices on…

‘Black Swan’ Author Says Colleges Should Pay for Biden’s Student Loan Wipeout, Not Taxpayers

Economist Nassim Nicholas Taleb has criticized President Joe Biden’s controversial student loan debt forgiveness plan. Taleb, the author of the bestselling book “The Black Swan” which deals with the extreme impact of rare events, argues that colleges should foot the bill for the scheme and not U.S. taxpayers. Taleb's book…

Germany’s Fears of Winter Gas Shortages Ease as Storage Fills up Faster than Expected

Germany’s Economy Minister Robert Habeck has announced that the German government's fears of major natural gas shortages over the winter are easing. The relief comes as the country’s gas storage facilities are filling up faster than expected. The news provides some hope amid fears of chronic shortages this winter due…

Facebook to Settle Cambridge Analytica Data Privacy Lawsuit

Meta’s Facebook has agreed to settle a lawsuit that alleges the social media platform inappropriately shared user data with third parties, including Cambridge Analytica. A joint stipulation (pdf) filed in San Francisco District Court Friday disclosed the preliminary settlement while giving no financial terms or details of the agreement. Lawyers…