Inflation reached a 40-year high. The S&P 500 fell by 11% by the end of 2022 due to inflationary pressures. Historically, major recessions have often followed sharp inflation spikes—such as in the late 1960s, early 1970s, and during the 2008 financial crisis.
OPEC has lowered its global oil demand forecast by 480,000 barrels per day, citing the Ukraine invasion, rising crude prices, and the resurgence of the Omicron variant in China. This has led to tighter supply and higher energy costs worldwide.
President Biden is allowing more ethanol to be blended into gasoline this summer in an effort to reduce fuel prices. Here’s a look at how gas prices have changed since 1978:
Here's how much gas cost every year since 1978. https://t.co/a4AiArNQtP pic.twitter.com/RcFEOHEMak
— CNBC Make It (@CNBCMakeIt) April 13, 2022
The European Parliament has called for a complete and immediate ban on Russian oil, coal, nuclear fuel, and gas. Experts warn that Russia’s war in Ukraine will have long-lasting effects on Europe’s economy, potentially delaying recovery for years.
UK inflation hit 6.2% and is expected to rise further. While public sector wages increased, they couldn’t keep up with rising prices, leading to a 3% drop in real income—the largest decline in two decades.
Sri Lanka is on the brink of bankruptcy, and the government is seeking aid from India and China to address severe fuel and food shortages.
Fertilizer prices have surged by 43% due to supply chain issues and geopolitical tensions. In response, some farmers are turning to alternative sources like liquid animal manure as a substitute. In the future, waste products could play a bigger role in addressing fertilizer shortages.
Manufacturers, retailers, and seafood companies are increasingly relying on air cargo to speed up deliveries. The surge in demand has led airlines, shipping firms, and aircraft manufacturers to invest heavily in new or converted cargo planes.
Truckers in Texas are blocking the border with Mexico over new inspection rules imposed by the state governor. Protesters warn that these actions could cause major supply chain disruptions, including unrefrigerated shipments of perishable goods.
The 2022 Atlantic hurricane season is expected to be more active than usual, and emergency officials are urging people to start preparing now. We’ve put together a guide on how to stay safe during hurricanes.
Extremely active hurricane seasons are now twice as likely as they were in the 1980s. While the total number of storms may not increase significantly, climate change has led to stronger, more destructive storms—with 11% more rainfall in three-hour periods, on average.
Recent extreme weather events have hit the U.S. hard, with record snowfall, tornadoes, and wildfires. Meanwhile, the Indian Ocean has seen a rapid succession of deadly tropical storms, leaving millions vulnerable. In Durban, South Africa, three cyclones and two tropical storms have struck since the start of the year, causing nearly 260 deaths.
Climate scientists predict that 380 million people will face water stress by 2050, with the highest impacts in the Middle East, North Africa, and parts of Asia. Droughts and shifting weather patterns are making it harder to access clean water in many regions.
Climate change is also threatening septic systems. Around 20% of U.S. households rely on septic tanks, many located in coastal areas facing rising sea levels. As a result, sewage backups and foul odors are becoming more common.
Despite clear evidence, not everyone believes in climate change. Some still deny its existence, even as extreme weather becomes more frequent and severe.
Stainless Steel Food Container
Stainless Steel Food Container Series,Stainless Steel Oil Barrel,Stainless Steel Wine Barrels,Stainless Steel Food Container
Jiangmen Xinweijie Stainless Steel Products Co., Ltd. , https://www.xxdkitchenware.com