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Ukraine's effort to neutralize the effect of oil price hikes by hitting export refineries in Russia- every $10 rise in prices brings in $1.6 billion more in tax revenues for Russia. One of these naval drones hit a target 900 kilometres away on the Russian oil refinery at Ust-Loga in the Baltic Sea, which exports 700,000 barrels a day of oil. At price of $120 compared to $70 this adds about $54 billion in tax revenues for Russia without drone attacks on Russian export refineries. Another approach taken by Ukraine is to propose cessation of attacks on Russian oil export infrastructure if Russia agrees not to target Ukraine energy infrastructure. Much of Ukraine experienced a cold winter with Russian attacks on its energy infrastructure and its apartment buildings.

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Going to a baseball game or a cricket game, a soccer game or basketball game, used to be part of the experience of growing up as a child not only in America, but in many parts of Asia since the 1950's. Sports organizers are failing the public and the Nation, many nations, when they let prices keep out the vast majority of the young people from sports games. This is true of the New York Knicks games in 2026 with the San Antonio Spurs, with tickets transport, everything going up. Here DW.com asks important questions about the FIFA World Cup. Most of America's younger generation, the vast majority of children will be excluded from these games. DW.com writes about the cheapest ticket listed on the FIFA website at $8625 and one ticket listed for $690,000. When told the cheapest ticket for the first Paraguay US game was $1000 US president DJT said it was "ridiculous," that he woudn't pay that either, and expressed real disappointment. DW.com raises other questions about the sudden 50% increase in teams and 60% increase in games for the World Cup in 2026. Teams suddenly up from 32 to 48, and games from 64 to 104. If more smaller football associations or countries were to be added, would it have been better to try this out in smaller steps? Has this diluted the sporting quality of individual games. If more games why would prices jump this much? Last World Cup the average price of a ticket was the same as the list price and no resale markets to create artificially high prices in the stratosphere driving out most buyers. ESPN looks at he process that set these prices in the adjoining piece. ...

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How much of the rise in price of oil is from speculators? About 20%. How much money is chasing oil? About $85 billion or thereabouts. What is causing the volatility, price shock atmosphere? Losses in production in Venezuela after a strike, Nigerian production in a backward region (issues of redistribution of wealth and periodic violence), and Iraq (Sunni insurgency). And now the Iran standoff with the USA over nuclear proliferation. According to Cambridge Energy Research Associates, an energy consulting firm owned by IHS, Iraq is 900,000 barrels a day below its prewar output; Nigeria has shut 530,000 barrels a day; Venezuela is still 400,000 barrels below its prestrike production; and the Gulf of Mexico remains down by 330,000 barrels a day. In all, this amounts to more than two million barrels of disrupted oil, Cambridge Energy estimates. The impasse with Iran on nuclear proliferation is the latest factor in oil prices. One analyst says the hedge funds have come into this commodities market in a big way and are willing to take risks. Energy funds make up 5 percent of the global hedge fund business, with about $60 billion in assets, according to Peter C. Fusaro, principal at the Energy Hedge Fund Center, an online research community. The gains on the oil market have attracted a fresh class of investors: pension funds and mutual funds seeking to diversify their holdings. Their investments have been mostly channeled through a handful of commodity indexes, which have ballooned to $85 billion in a few years, according to Goldman Sachs. Goldman's index holds more than $55 billion, three times the amount in 2002....

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Natural gas prices hit a 14 year high in the US with futures reaching $10 per million British thermal units BTU's. Natural gas is liquefied and sent to Europe from the US leading to higher domestic prices. Europe is facing a winter of gas shortages with rationing of energy supplies to industry to meet winter home demand. Germany has built up its reserves to 80% and has agreements for additional supplies from Qatar.

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Homeowners in California average ownership 17 years instead of 12 for US- reason is that property tax increases in California were limited to 2% a year under Prop. 13 of 1978, so older owners stay put. The result is fewer home on the market as older home owners avoid paying the higher property taxes for new homes that could be 10X what they pay under the old rules. This drives home prices up. Median home price is $900,000 in California.

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One consequence of the change in climate change policy is addressing the unaffordability crisis for cars. It would reduce the price of cars by about $2400. It removes the tighter emissions standards of the Biden administration giving automakers some relief. Price of car had surge under the Biden administration. As gas prices are brought down this is an effort to bring down car prices. How does this affect global emissions? Diana Roth from the DJT Transportation Department says- "It's gone to China, where it's made in a dirtier way. So to say that we're reducing global emissions by ending energy intensive manufacturing in some countries, then having it go to China and India, where it's made in a dirtier way, does not reduce global emissions." This suggests it is not necessarily true that global emissions that affect climate change are reduced when the US by itself alone cuts emissions and this then saves lives in a significant way. That does not offer the complete picture. And the current approach under DJT is to temporarily give affordability and cost of living priorities equal consideration for policy an approach accepted by the Biden administration. ...

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Cost of driving depends on where you live in the US- California (taxes and climate change fee), and mountain states (no inland supplies in West), Illinois taxes are much higher compared to the South and South East (close to refineries no taxes). Specific formulations add extra on the Eastern seaboard states  from New Hampshire to Virginia, and in the West California have requirements to reduce smog and pollution. At one time in the 1980's in Pasadena the smog would be so bad you could not see the green color on the leaves clearly. For most of the US gas prices on April 22, 2026 are around $3.62 or lower compared to $3.92 on average in March for the whole US and $5.83 in California, $5.00 in Oregon, $5.38 in Washington. Texas, Alabama, North and South Carolina at around $3.62 and Florida at $4.00. In Virginia to Maine in the North East it is around $4.00. A look at the map shows that talk of $5.00 gasoline hurting the Republicans in the midterms for Congress is incorrect because the Democrats are likely to hold on to California, Washington Oregon, their base with gas at close to $6.00 the very opposite of what they are saying. Much of it because of state policies against oil refining and climate change taxes, formulations of gasoline that cost more to address smog. The head of the distribution channel for gasoline in the US, Scott Berhang, head of fuel wholesalers marketing group Sigma says- “At some point, [the war] could translate into supply shortages. That could happen. But we’re not really there yet. I talk to my members all over the U.S. They’re not seeing any supply issues. There’s no problem getting fuel. Everything is normal.” State taxes can be as low as 9 cents in Alaska and 71 cents in California, 66 cents in Illinois. The price of gas in swing states Arizona $4.59, Pennsylvania $4.11, Michigan $3.78, Wisconsin $3.69, North Carolina $3.75, Georgia $3.57. If we use $3.61 price of Texas and most of South and close to this in all but mountain states and western states then we are slightly above the same price gasoline was sold at the pump in 2011-2014 of $3.51 per gallon. This is a significant fact considering the media talks about gasoline prices in the US as a significant cost of living issue. Which means saying Iran War is "crippling" US consumers at the pump is farfetched and totally incorrect.  ...

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Prof. Patrice Geoffron of Universite Paris-Dauphine writes in Le Monde what is on everyone's minds- on how oil geopolitics and fossil fuel price volatility and price uncertainty what he calls fossil fuel chaos, is creating a new demand for renewable energy in Europe in 2027 to 2031. Business and industry in Europe see the value of renewable energy not in comparison with low fossil fuel prices anymore but with a fossil fuel price that can jump at any time to the $100 a barrel for some geopolitical event. Compared to this fossil chaos European business and industry can depend on a known price and known conditions for solar energy. The same thinking will be going on in business in Asia- in China and established leader in solar, in India an aspiring solar power, and in Japan. Modular nuclear reactors are also a new way to go. This means even under DJT with his skepticism for renewables the technology and production of renewables will continue and pick up pace. People will also ask whether its worth all the trouble to get fossil fuel supplies at levels that make no sense through waters of Hormuz straits- China and Jpan getting a makes no sense 90% of their imports from Hormuz, and India nearly 50%. Their are moral considerations also whether a morally conscious China, Japan and India, South Korea with much of the industrial base in the world can justify missile attacks on the scale of tens of thousands in the region and bombing just to clear Hormuz. ...

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Oil cuts of 2 million barrels a day or 2% of global oil production by OPEC Plus will lead to oil prices surging back up to levels seen earlier this year.  Weakening of oil demand with a slowdown in China and the EU was leading to a drop in oil prices from the highs reached this year. OPEC Plus which includes Russia is taking this step to keep oil prices high. 

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A Liberal Democrat, Lord Alderdice, praises the courage of Prince Philip when he stood alongside Queen Elizabeth as she shook hands with Martin McGuiness- the handshake that ended the war in Northern Ireland. Martin McGuiness led the IRA at the time when Lord Mountbatten, a father figure for Prince Philip and his mentor, was killed in the conflict of Northern Ireland.

The Duke of Cambridge describes his grandfather as "an extraordinary man and part of an extraordinary generation."

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Indonesia's good harvest for rice means that it will end up with a slight surplus and will be able to met its needs without importing rice. Indonesia's Trade Ministry will further ensure supplies by banning any private exports of rice. Prices in Indonesia have increased only by 7%in the last 6 months. This should ease the tight supply situation for rice. In addition the Philippines and India are cracking down on hoarders to keep prices from rising artificially.

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FIFA's $3 billion in revenue from ticket sales is 3 times what it was in Qatar, prices per game are double that in Qatar. What's going on? FIFIA is being accused of price gouging practices by the Attorney Generals of New Jersey and New York. Six games including the finals are to be played in the NY-NJ area. FIFA's Infantino says it will use $11 billion in soccer revenues (90% of tickets sold for the World Cup in the US/Mexico) for this nonprofit to do soccer projects around the world.  Fans are not happy with the way FIFA is extracting higher prices to put visiting the game beyond the reach of ordinary households. Shouldn't making  it possible to watch the game for ordinary income soccer fans also be part of FIFA's responsibility- instead of taking the opportunities for visiting soccer fields away from ordinary income people. 

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BBC answers the question "Who is Keir Starmer?" in this report on the new British prime minister. He graduated from Leeds University and studied law at Leeds and Oxford. He joined the Socialist Movement soon after college. He was a prominent contributor to magazine Socialist Lawyer. In school he had joined the Young Socialists, Labour's youth organization. His name is from the first leader of the Labour party Keir Hardie. He is the first from his family to go to college. From 1988 to 2008 he was a practicing lawyer and concentrated his efforts on his work till he was made the Director of Public Prosecutions, the chief prosecutor of England and Wales. Keir likes to talk about this period including prosecuting terrorist gangs as an example of public service. It was late only until age 52 in 2015 that he was given the safe Labour parliamentary seat in north London of Holborn St Pancras. Jeremy Corbyn was elected leader of Labour in 2015. Sir Keir worked well with Jeremy Corbyn during this period and was Immigration Secretary and Brexit Secretary from the back benches. When Corbyn's leadership was challenged Starmer supported this, with Corbyn resigning in 2020 after the 2019 election defeat and being replaced by Starmer.  Then followed a period of fighting the Conservatives and only coming level to the Conservatives in 2021 in popular support. The changes that made Labour more popular and reversing finally the decline of 14 years did not come till 2023 only 12 months before this election. Throughout Sir Keir maintained his composure and moderate positions, distancing himself from Corbyn, to regain the confidence of the British people. When one sees that the votes increase in 2024 is only 2% for Labour in 2024 one realizes the achievement of Sir Keir in transforming Labour to run the country that is so needed today. The slight increase in votes converts into a landslide through careful planning and strategy, but it also hides the fact that the British people have turned to Labour for answers and solutions to the problems they face. Such is the level of confidence that Sir Keir has built over time bit by bit, as he says "brick by brick," something that is clearly in Sir Keir's character and manner of doing things. ...

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Macron as president of France does not agree to cohabitation appointing 4 prime ministers over 4 years who are replaced or lose public confidence. The last Bayrou is an experinced politician who tried to get austerity cuts including eliminating 2 public holidays. The Socialist bloc led by Melenchon and Le Pen's Marie Pen bring down Bayrou in a no confidence vote. Following the election of the National Assembly Macron had an opportunity he missed of cohabitation with the Socialists Party bloc and letting its leader Melenchon or someone else in the Socialist Bloc, a more acceptable face to the Macronists form a new government. Instead he has weakened France and it's economy by taking a rigid approach. This is a reversal of his posture during his entry into politics which depended on the Socialists leader president Hollande accepting Macron into his government as Minister for the economy. Macron formed his own party with deft moves to retire the Gaullist and Socialist parties that have ruled France since 1945. Winning the presidency once and barely winning the second time after protests by Yellow Vests on the cost of living and an imperial presidency, the very same problem that Nicholas Sarkozy had of not being close to the people and their concerns about migrants, cost of living and the deindustrialized parts of France, neglect of farmers and rural areas also seen in the US. With this France is in a bit of drift with younger voters looking elsewhere for the future. ...

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The U.S. faces a migration crisis of migrants from Guatemala moving through Mexico to the U.S. The Trump administration works to get Mexico to police its national borders with Guatemala using trade tariffs  as a tool of diplomacy. This story shows how failing coffee prices have increased levels of migration from Guatemala. 

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“The world needs more energy. The world needs more resources, and U.A.E. wanted to be unconstrained by any groups” says UAE energy minister, Suhail Al Mazrouei. On May 1, 2026 UAE with 12% of OPEC cartel production (3.6 million barrels a day) will leave OPEC. It is a change in strategy of where and how to sell oil production in the future. UAE including Abu Dhabhi oil company says it is time for it to pursue its own national interests. As its economy is diversified including tourism and other sourcesd of revenue, UAE puts volume before price support. Saudis are not diversified and seek to maintain price support and keep fossil fuels way into the future. Qatar and Ecuador have already left the cartel. Since the old days of OPEC US has emerged as the largest producer, Venezuela is coming back as a major producer, changing the situaiton now that UAE is  also not betting on and supporting efforts for keeping prices high. This is good news for India and China, Japan, major buyers of oil and with large populations increasing demand. It also helps the US because of its diversified economy. ...

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This report in WSJ says Liz Truss, the Foreign Secretary, is favored by most Conservative party members to become the next prime minister of Britain.

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The last time there was a war with Hamas was in 2006 under prime minister Olmert of the Kadima party. It happened when Olmert was negotiating a peace settlement with Mr. Abbas of the Palestinian Authority and the two sides had come very close differing on refugee resettlement and how much of West Bank in percentage each side would give up.  Olmert was being investigated for financial dealings by prosecutors which led to derailing further negotiations ,and the Hamas rocket attacks from Gaza shutting down peace efforts. A former mayor of Jerusalem from Likud for ten years and prime minister of Israel from Kadima party reflects on his efforts to bring a settlement with the Palestinians which would create the conditions for the two communities peaceful coexistence. NPR's Dana Estrin talked to Ehud Olmert in 2022 in this interview which you can listen to on NPR audio by clicking on article.

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With car prices up Americans are holding on to cars for longer and this has reached 13 years in 2026 up 10% over a decade.  Higher interest rates, sticker shock at prices of new or used cars are causing Americans to get the most out of each car. Car prices on average as per Kelley Blue Book are $50,000 on average and this is up$10,000 in 10 years. Some are driving 2 cars one a newer 4-5 years old model and the other could have 100,000 or upto 200,000 miles if the driver has some knowledge of how to maintain it. Even if they can afford the jump in prices has made people pause before looking for a new car making it take longer to buy, to see if maintenance is the solution. Car dealers are fighting for every piece of the market in the service business, trying special offers, and selling many services all individually priced to wring the last dollar out of the business. Ford Motor is putting ads to change the perception that dealer repair is costlier than smaller repair shops. The certified preowned business is also growing as maintenance takes on a new dimension to increase the life of a good car.  ...

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Prices in Britain are expected to go up with Brexit. New figures show prices up 1.2% in the year to November 2016, up from 0.9% in the year to October, according to the Office of National Statistics. Economists expect this to go up rapidly to 2% by the end of March 2017, to reflect higher prices for oil following the sharp drop in the value of the pound. A big increase in clothing imported from overseas, as well as other consumer prices are also pushing up inflation.

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Lord Mountbatten's elder sister Alice was the princess of Battenberg in Germany. Prince Philip's mother was Alice. In this way the last Viceroy of India, a naval officer in World War II, and Prince Philip, are intimately connected. It was Lord Mountbatten who formed a friendship with Jawaharlal Nehru as he negotiated with Gandhi, Sardar Patel and Nehru for the independence of India after the war.  This legacy continued for Prince Philip as he and Princess Elizabeth established a friendly relationship with post 1947 India. After the overthrow of the Greece monarchy following World War I, Prince Philip and the Greece royal family sought refuge in England. Both Mountbatten and Philip are great grandsons of Queen Victoria. Mountbatten is a name adopted by Lord Mountbatten's father to avoid anti-German sentiment in England, adding Mount to Batten from Battenberg. Mountbatten's father was German and became a naturalized British citizen, serving in the British military.  Prince Philip adopted it as his surname after he went to live with his maternal uncle as a young boy. Prince Philip joined the Britannia Naval War College. In 1934 he was introduced to Princess Elizabeth by Lord Mountbatten at a family wedding.  The relationship is significant because of the contribution the two Mountbattens made to the transition to self-rule or Swaraj in India and to the British Commonwealth with its role for India and Britain. ...

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The Saudi government announced sharp cuts in spending and subsidies to cut the deficit in 2016. The deficit in 2015 was about $98 billion or 367 billion riyals , according to Al Arabiya Saudi news channel. In 2016 the budget is designed to cut the deficit to $87 billion or 326 billion riyals. The 2016 budget is for 840 billion riyals, compared to 975 billion riyals in 2015. Saudi Arabia's foreign exchange reserves of $640 billion could be exhausted at this rate by 2020, experts say. Actions being taken by the government include increasing the price of some grades of gasoline sold domestically by 50%, as subsidies are being cut. The drop in oil prices to about $35-$40 is hurting Russia, Saudis and Venezuela. The Saudis have increased defense spending for conflicts in Yemen, and in other areas, as they oppose Iran and Russia in the Iraq- Syria conflict.

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Hubbard and Kirkpatrick in this report say Prince Salman, at 32 years one of the youngest rulers in the Middle East, has taken steps that his predecessors had shied away from. It cites the war in Yemen against Iranian faction, blockade of Qatar, and taking power from conservative clerics. This report points out that this could destabilize the efforts at modernizing Saudi Arabia that are needed because Saudi Arabia may find itself overextended in proxy wars, and ambitious projects. The Saudi financial reserves have fallen from $737 billion to $475 billion, with declining oil prices, and the public stock offering of Aramco oil company may be jeopardized. 

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Russian seaborne crude shipments are up 18% as of June 11 over the prior year, Iran's shipments up even more by 45%. The result is increased supplies even though the Saudis tried to increase oil prices by limiting production. China's economy is slowing and faces headwinds that will not go away anytime soon of debt close to 290% of GDP higher than US or Europe. And lower imports by the US and EU as they correct the mistakes of overconcentration in China. The European Union faces high inflation and a mild recession. This is cutting demand as supplies increase. It will help the Biden administration as it seeks to give all Americans a fair chance to improve their standard of living, by reducing the cost of living and investing in the economic potential of the country in a way no other adminstration has done in the last 40 years.

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The Labor Dept. consumer price index was up 0.1% in Jan 2014 over the prior month. Compared to prior year it was up 1.6%. Part of this is the cold weather with natural gas prices up 3.6% and electricity prices up 1.8% in Jan. 2014. The Commerce Dept. Personal Consumption Expenditures Index (PCE) which better reflects rising health care costs was up 1.1% in Dec. 2013 over the prior year.