By John Kemp, senior energy analyst
U.S. diesel consumption is likely to decline by 200,000 to 600,000 barrels per day (5%-15%) over the next year as the economy slows in response to rising interest rates.
The Federal Reserve is not deliberately trying to induce a recession to bring inflation under control, central bank chief Jerome Powell told legislators on Wednesday. But he said that was a possible and foreseeable outcome of rapid rate rises – an interesting application of the doctrine of double effect .The central bank hopes for soft landing but feels it must risk a hard one to […]
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