Billionaire Refinery Owner Reveals Simple Solution To Lower Inflation

United Refining Company and Gristedes chief executive John Catsimatidis revealed the “simple” solution to reducing inflation, which is currently near 40-year highs. Speaking to “Varney & Co.” On Wednesday, the billionaire businessman also unveiled America’s “salvation” in terms of falling energy prices, stressing that they will fall “if North America opens its spigots.” The Labor Department revealed earlier this month that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 8.5 percent in July from a year earlier, below the 9 .1% recorded year-on-year. in June. Prices were unchanged in the one-month period from June. Those figures were lower than the 8.7% and 0.2% monthly gain that economists at Refinitiv had forecast, likely a welcome sign for the Federal Reserve as it tries to pare price gains and tame consumer demand. EUROPE’S GREEN ENERGY POLICIES BOOST PUTIN, SAYS MICHAEL SHELLENBERGER Inflation eases as July CPI falls to 8.5%. FOX Business’ Cheryl Casone discusses the latest. Runaway inflation has created severe financial pressures on most US households, forcing them to pay more for daily necessities such as food and rent. While there was some real respite for US households in July in the form of lower energy prices, which helped lower headline inflation, price increases remain stubbornly high for other items, including food. Ticker Security Last change %USO UNITED STATES OIL FUND LP 73.12 -2.35 -3.12%BNO UNITED STS BRENT OIL FD LP UNIT 29.96 -1.01 -3.28% The food index rose 1.1 percent in July, bringing the 12-month increase to 10.9 percent, the highest since May 1979. Consumers paid more for items such as grains, chicken, milk and fresh vegetables. On Wednesday afternoon, US West Texas Intermediate (WTI) crude was trading lower at $90.08 a barrel, while Brent, the global benchmark, was trading lower at $96.59. INFLATION IS STILL ELIMINATING AVERAGE AMERICAN WAGE EARNINGS United Refining Company and Gristedes CEO John Catsimatidis discuss oil prices on “Varney & Co.” (Andrew H. Walker/Getty Images/Getty Images) “Right now between Canada and the United States, we’re probably producing 16 million barrels a day. We could probably go closer to 18 or 20 billion barrels a day,” Catsimatidis said. “That would make North America self-sufficient.” The businessman then criticized the Biden administration for “begging” Iran, Venezuela and Saudi Arabia for oil when the US “could be self-sufficient”. Catsimatidis made the comments after it was revealed that the Biden administration continued private negotiations with Western allies to implement a global cap on the price of Russian oil to avoid a potential gas price catastrophe. The Treasury Department, which is leading the effort, said it was continuing to negotiate the policy, which it argued was necessary to ensure global and U.S. oil prices did not soar in the coming months. The agency, which has been engaged in discussions with several nations both inside and outside the G7, could reach a solution with partners as soon as September. “A price cap on Russian oil would deny Putin money for his war machine and put downward pressure on high oil costs caused by Russia’s unprovoked war on Ukraine,” a Treasury spokesman told FOX Business in a statement. “We continue to have productive discussions with the G7 and other allies and partners, who share a common interest in helping consumers by preventing further disruptions to global oil supply and reducing revenues for the Kremlin,” the spokesman added. In late June, the US and its G7 allies announced their intention to implement the price ceiling, which would essentially allow international oil buyers to buy Russian product at a price higher than some negotiated price. Treasury Secretary Janet Yellen said the policy would limit Russian government revenue and stabilize global markets. US Oil & Gas Association President Tim Stewart reacts to Europe’s measures to reduce energy consumption in “Cavuto: Coast to Coast.” “Everything we do against the Russians, everything comes out as comics. It doesn’t work,” Katsimatis argued. He also argued on Wednesday that “the right price of oil in North America could fall to $65 to $75 a barrel.” “Inflation goes away if we get it [oil] at $75 a barrel and we don’t need to kill the rest of the United States with higher interest rates,” he added. “It’s that simple,” Katsimadis said, referring to the Federal Reserve’s moves to try to curb stubborn inflation by raising rates. CLICK HERE TO READ MORE ABOUT FOX BUSINESS Policymakers already approved two consecutive 75 basis point interest rate hikes in June and July and confirmed another super-sized increase is on the table in September. Thomas Catenacci of FOX Business contributed to this report.

title: “Billionaire Refinery Owner Reveals Simple Solution To Lower Inflation Klmat” ShowToc: true date: “2022-11-25” author: “Linda Reed”

United Refining Company and Gristedes chief executive John Catsimatidis revealed the “simple” solution to reducing inflation, which is currently near 40-year highs. Speaking to “Varney & Co.” On Wednesday, the billionaire businessman also unveiled America’s “salvation” in terms of falling energy prices, stressing that they will fall “if North America opens its spigots.” The Labor Department revealed earlier this month that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 8.5 percent in July from a year earlier, below the 9 .1% recorded year-on-year. in June. Prices were unchanged in the one-month period from June. Those figures were lower than the 8.7% and 0.2% monthly gain that economists at Refinitiv had forecast, likely a welcome sign for the Federal Reserve as it tries to pare price gains and tame consumer demand. EUROPE’S GREEN ENERGY POLICIES BOOST PUTIN, SAYS MICHAEL SHELLENBERGER Inflation eases as July CPI falls to 8.5%. FOX Business’ Cheryl Casone discusses the latest. Runaway inflation has created severe financial pressures on most US households, forcing them to pay more for daily necessities such as food and rent. While there was some real respite for US households in July in the form of lower energy prices, which helped lower headline inflation, price increases remain stubbornly high for other items, including food. Ticker Security Last change %USO UNITED STATES OIL FUND LP 73.12 -2.35 -3.12%BNO UNITED STS BRENT OIL FD LP UNIT 29.96 -1.01 -3.28% The food index rose 1.1 percent in July, bringing the 12-month increase to 10.9 percent, the highest since May 1979. Consumers paid more for items such as grains, chicken, milk and fresh vegetables. On Wednesday afternoon, US West Texas Intermediate (WTI) crude was trading lower at $90.08 a barrel, while Brent, the global benchmark, was trading lower at $96.59. INFLATION IS STILL ELIMINATING AVERAGE AMERICAN WAGE EARNINGS United Refining Company and Gristedes CEO John Catsimatidis discuss oil prices on “Varney & Co.” (Andrew H. Walker/Getty Images/Getty Images) “Right now between Canada and the United States, we’re probably producing 16 million barrels a day. We could probably go closer to 18 or 20 billion barrels a day,” Catsimatidis said. “That would make North America self-sufficient.” The businessman then criticized the Biden administration for “begging” Iran, Venezuela and Saudi Arabia for oil when the US “could be self-sufficient”. Catsimatidis made the comments after it was revealed that the Biden administration continued private negotiations with Western allies to implement a global cap on the price of Russian oil to avoid a potential gas price catastrophe. The Treasury Department, which is leading the effort, said it was continuing to negotiate the policy, which it argued was necessary to ensure global and U.S. oil prices did not soar in the coming months. The agency, which has been engaged in discussions with several nations both inside and outside the G7, could reach a solution with partners as soon as September. “A price cap on Russian oil would deny Putin money for his war machine and put downward pressure on high oil costs caused by Russia’s unprovoked war on Ukraine,” a Treasury spokesman told FOX Business in a statement. “We continue to have productive discussions with the G7 and other allies and partners, who share a common interest in helping consumers by preventing further disruptions to global oil supply and reducing revenues for the Kremlin,” the spokesman added. In late June, the US and its G7 allies announced their intention to implement the price ceiling, which would essentially allow international oil buyers to buy Russian product at a price higher than some negotiated price. Treasury Secretary Janet Yellen said the policy would limit Russian government revenue and stabilize global markets. US Oil & Gas Association President Tim Stewart reacts to Europe’s measures to reduce energy consumption in “Cavuto: Coast to Coast.” “Everything we do against the Russians, everything comes out as comics. It doesn’t work,” Katsimatis argued. He also argued on Wednesday that “the right price of oil in North America could fall to $65 to $75 a barrel.” “Inflation goes away if we get it [oil] at $75 a barrel and we don’t need to kill the rest of the United States with higher interest rates,” he added. “It’s that simple,” Katsimadis said, referring to the Federal Reserve’s moves to try to curb stubborn inflation by raising rates. CLICK HERE TO READ MORE ABOUT FOX BUSINESS Policymakers already approved two consecutive 75 basis point interest rate hikes in June and July and confirmed another super-sized increase is on the table in September. Thomas Catenacci of FOX Business contributed to this report.

title: “Billionaire Refinery Owner Reveals Simple Solution To Lower Inflation Klmat” ShowToc: true date: “2022-11-14” author: “Darnell Brewer”

United Refining Company and Gristedes chief executive John Catsimatidis revealed the “simple” solution to reducing inflation, which is currently near 40-year highs. Speaking to “Varney & Co.” On Wednesday, the billionaire businessman also unveiled America’s “salvation” in terms of falling energy prices, stressing that they will fall “if North America opens its spigots.” The Labor Department revealed earlier this month that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 8.5 percent in July from a year earlier, below the 9 .1% recorded year-on-year. in June. Prices were unchanged in the one-month period from June. Those figures were lower than the 8.7% and 0.2% monthly gain that economists at Refinitiv had forecast, likely a welcome sign for the Federal Reserve as it tries to pare price gains and tame consumer demand. EUROPE’S GREEN ENERGY POLICIES BOOST PUTIN, SAYS MICHAEL SHELLENBERGER Inflation eases as July CPI falls to 8.5%. FOX Business’ Cheryl Casone discusses the latest. Runaway inflation has created severe financial pressures on most US households, forcing them to pay more for daily necessities such as food and rent. While there was some real respite for US households in July in the form of lower energy prices, which helped lower headline inflation, price increases remain stubbornly high for other items, including food. Ticker Security Last change %USO UNITED STATES OIL FUND LP 73.12 -2.35 -3.12%BNO UNITED STS BRENT OIL FD LP UNIT 29.96 -1.01 -3.28% The food index rose 1.1 percent in July, bringing the 12-month increase to 10.9 percent, the highest since May 1979. Consumers paid more for items such as grains, chicken, milk and fresh vegetables. On Wednesday afternoon, US West Texas Intermediate (WTI) crude was trading lower at $90.08 a barrel, while Brent, the global benchmark, was trading lower at $96.59. INFLATION IS STILL ELIMINATING AVERAGE AMERICAN WAGE EARNINGS United Refining Company and Gristedes CEO John Catsimatidis discuss oil prices on “Varney & Co.” (Andrew H. Walker/Getty Images/Getty Images) “Right now between Canada and the United States, we’re probably producing 16 million barrels a day. We could probably go closer to 18 or 20 billion barrels a day,” Catsimatidis said. “That would make North America self-sufficient.” The businessman then criticized the Biden administration for “begging” Iran, Venezuela and Saudi Arabia for oil when the US “could be self-sufficient”. Catsimatidis made the comments after it was revealed that the Biden administration continued private negotiations with Western allies to implement a global cap on the price of Russian oil to avoid a potential gas price catastrophe. The Treasury Department, which is leading the effort, said it was continuing to negotiate the policy, which it argued was necessary to ensure global and U.S. oil prices did not soar in the coming months. The agency, which has been engaged in discussions with several nations both inside and outside the G7, could reach a solution with partners as soon as September. “A price cap on Russian oil would deny Putin money for his war machine and put downward pressure on high oil costs caused by Russia’s unprovoked war on Ukraine,” a Treasury spokesman told FOX Business in a statement. “We continue to have productive discussions with the G7 and other allies and partners, who share a common interest in helping consumers by preventing further disruptions to global oil supply and reducing revenues for the Kremlin,” the spokesman added. In late June, the US and its G7 allies announced their intention to implement the price ceiling, which would essentially allow international oil buyers to buy Russian product at a price higher than some negotiated price. Treasury Secretary Janet Yellen said the policy would limit Russian government revenue and stabilize global markets. US Oil & Gas Association President Tim Stewart reacts to Europe’s measures to reduce energy consumption in “Cavuto: Coast to Coast.” “Everything we do against the Russians, everything comes out as comics. It doesn’t work,” Katsimatis argued. He also argued on Wednesday that “the right price of oil in North America could fall to $65 to $75 a barrel.” “Inflation goes away if we get it [oil] at $75 a barrel and we don’t need to kill the rest of the United States with higher interest rates,” he added. “It’s that simple,” Katsimadis said, referring to the Federal Reserve’s moves to try to curb stubborn inflation by raising rates. CLICK HERE TO READ MORE ABOUT FOX BUSINESS Policymakers already approved two consecutive 75 basis point interest rate hikes in June and July and confirmed another super-sized increase is on the table in September. Thomas Catenacci of FOX Business contributed to this report.

title: “Billionaire Refinery Owner Reveals Simple Solution To Lower Inflation Klmat” ShowToc: true date: “2022-10-28” author: “John Baise”

United Refining Company and Gristedes chief executive John Catsimatidis revealed the “simple” solution to reducing inflation, which is currently near 40-year highs. Speaking to “Varney & Co.” On Wednesday, the billionaire businessman also unveiled America’s “salvation” in terms of falling energy prices, stressing that they will fall “if North America opens its spigots.” The Labor Department revealed earlier this month that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 8.5 percent in July from a year earlier, below the 9 .1% recorded year-on-year. in June. Prices were unchanged in the one-month period from June. Those figures were lower than the 8.7% and 0.2% monthly gain that economists at Refinitiv had forecast, likely a welcome sign for the Federal Reserve as it tries to pare price gains and tame consumer demand. EUROPE’S GREEN ENERGY POLICIES BOOST PUTIN, SAYS MICHAEL SHELLENBERGER Inflation eases as July CPI falls to 8.5%. FOX Business’ Cheryl Casone discusses the latest. Runaway inflation has created severe financial pressures on most US households, forcing them to pay more for daily necessities such as food and rent. While there was some real respite for US households in July in the form of lower energy prices, which helped lower headline inflation, price increases remain stubbornly high for other items, including food. Ticker Security Last change %USO UNITED STATES OIL FUND LP 73.12 -2.35 -3.12%BNO UNITED STS BRENT OIL FD LP UNIT 29.96 -1.01 -3.28% The food index rose 1.1 percent in July, bringing the 12-month increase to 10.9 percent, the highest since May 1979. Consumers paid more for items such as grains, chicken, milk and fresh vegetables. On Wednesday afternoon, US West Texas Intermediate (WTI) crude was trading lower at $90.08 a barrel, while Brent, the global benchmark, was trading lower at $96.59. INFLATION IS STILL ELIMINATING AVERAGE AMERICAN WAGE EARNINGS United Refining Company and Gristedes CEO John Catsimatidis discuss oil prices on “Varney & Co.” (Andrew H. Walker/Getty Images/Getty Images) “Right now between Canada and the United States, we’re probably producing 16 million barrels a day. We could probably go closer to 18 or 20 billion barrels a day,” Catsimatidis said. “That would make North America self-sufficient.” The businessman then criticized the Biden administration for “begging” Iran, Venezuela and Saudi Arabia for oil when the US “could be self-sufficient”. Catsimatidis made the comments after it was revealed that the Biden administration continued private negotiations with Western allies to implement a global cap on the price of Russian oil to avoid a potential gas price catastrophe. The Treasury Department, which is leading the effort, said it was continuing to negotiate the policy, which it argued was necessary to ensure global and U.S. oil prices did not soar in the coming months. The agency, which has been engaged in discussions with several nations both inside and outside the G7, could reach a solution with partners as soon as September. “A price cap on Russian oil would deny Putin money for his war machine and put downward pressure on high oil costs caused by Russia’s unprovoked war on Ukraine,” a Treasury spokesman told FOX Business in a statement. “We continue to have productive discussions with the G7 and other allies and partners, who share a common interest in helping consumers by preventing further disruptions to global oil supply and reducing revenues for the Kremlin,” the spokesman added. In late June, the US and its G7 allies announced their intention to implement the price ceiling, which would essentially allow international oil buyers to buy Russian product at a price higher than some negotiated price. Treasury Secretary Janet Yellen said the policy would limit Russian government revenue and stabilize global markets. US Oil & Gas Association President Tim Stewart reacts to Europe’s measures to reduce energy consumption in “Cavuto: Coast to Coast.” “Everything we do against the Russians, everything comes out as comics. It doesn’t work,” Katsimatis argued. He also argued on Wednesday that “the right price of oil in North America could fall to $65 to $75 a barrel.” “Inflation goes away if we get it [oil] at $75 a barrel and we don’t need to kill the rest of the United States with higher interest rates,” he added. “It’s that simple,” Katsimadis said, referring to the Federal Reserve’s moves to try to curb stubborn inflation by raising rates. CLICK HERE TO READ MORE ABOUT FOX BUSINESS Policymakers already approved two consecutive 75 basis point interest rate hikes in June and July and confirmed another super-sized increase is on the table in September. Thomas Catenacci of FOX Business contributed to this report.