The CPI data due this month will be the first hard measure of American consumer prices since the Strait of Hormuz became a conflict zone, and every early signal points to a number that will shock people who stopped paying attention to energy transmission mechanisms after 2022.
The manipulation of fuel stock data was intended to justify an emergency import of fuel even though Kenya has several standing contracts. Despite the war in Iran, Saudi Aramco Trading Fujairah and others were meeting their contractual obligations.
We, the Ministers of Foreign Affairs of Belgium, Croatia, Estonia, Finland, Iceland, Italy, Ireland, Latvia, Luxembourg, Moldova, Norway, Poland, San Marino, Spain and Sweden, concerned by the conflict in the Middle East, are appalled by the dramatic situation and renewed escalation of violence in Lebanon, where there are already 1.2 million internally displaced persons, representing some 25% of the overall population.
"A more decentralized energy system, with a growing share of renewables and more market players, is structurally more resilient. Countries that invested in the energy transition are weathering this crisis with less economic damage, as they boost energy security, resilience and competitiveness."
Chevron and Shell, in separate cases on different continents, cited the same passage from the IPCC's Fifth Assessment Report that greenhouse gas emissions are driven by population size, economic activity, lifestyle, energy use to argue that responsibility lies with modern industrial society as a whole.
Trump reiterated that the war will take another two or three weeks, demanded Iran reopen the Strait of Hormuz, and called on other countries to find a way to reopen the vital waterway, through which 20% of the world's oil flows.
In California and across the nation from Hawaii to Maine, a growing number of state and local governments are fighting in court to hold oil giants like Exxon Mobil, Chevron, Shell and BP accountable for their well-documented efforts to deceive the public about climate change and the "catastrophic events" and "more violent weather" their own scientists accurately predicted would result if the use of their fossil fuel products was not curbed.
