The Revolt of the College-Educated Working Class

The New York Times

The Revolt of the College-Educated Working Class

Noam Scheiber – April 28, 2022

Over the past decade-and-a-half, many young, college-educated workers have faced a disturbing reality: that it was harder for them to reach the middle class than for previous generations. The change has had profound effects — driving shifts in the country’s politics and mobilizing employees to demand fairer treatment at work. It may also be giving the labor movement its biggest lift in decades.

Members of this college-educated working class typically earn less money than they envisioned when they went off to school.

“It’s not like anyone is expecting to make six figures,” said Tyler Mulholland, who earns about $23 an hour as a sales lead at REI, the outdoor equipment retailer, and holds bachelor’s and master’s degrees in education. “But when it’s snow storming at 11:30 at night, I don’t want to have to think, ‘Is the Uber home going to make a difference in my weekly budget?’”

In many cases, the workers have endured bouts of unemployment. After Clint Shiflett, who holds an associate degree in computer science, lost his job installing satellite dishes in early 2020, he found a cheaper place to live and survived on unemployment insurance for months. He was eventually hired at an Amazon warehouse in Alabama, where he initially made about $17.50 an hour working the overnight shift.

And they complain of being trapped in jobs that do not make good use of their skills. Liz Alanna, who holds a bachelor’s in music education and a master’s in opera performance, began working at Starbucks while auditioning for music productions in the early 2010s. She stayed with the company to preserve her health insurance after getting married and having children.

“I don’t think I should have to have a certain job just so I can have health care,” Alanna said. “I could be doing other types of jobs that might fall better in my wheelhouse.”

These experiences, which economic research shows became more common after the Great Recession, appear to have united many young college-educated workers around two core beliefs: They have a sense that the economic grand bargain available to their parents — go to college, work hard, enjoy a comfortable lifestyle — has broken down. And they see unionizing as a way to resurrect it.

Support for labor unions among college graduates has increased from 55% in the late 1990s to around 70% in the last few years, and is even higher among younger college graduates, according to data provided by Gallup.

“I think a union was really kind of my only option to make this a viable choice for myself and other people,” said Mulholland, 32, who helped lead the campaign to unionize his New York City REI store in March. Shiflett and Alanna have also been active in the campaigns to unionize their workplaces.

And those efforts, in turn, may help explain an upsurge for organized labor, with filings for union elections up more than 50% over a similar period one year ago.

Though a minority at most nonprofessional workplaces, college-educated workers are playing a key role in propelling them toward unionization, experts say, because the college-educated often feel empowered in ways that others do not.

“There’s a class confidence, I would call it,” said Ruth Milkman, a sociologist of labor at the Graduate Center of the City University of New York. “A broader worldview that encompasses more than getting through the day.”

While other workers at companies like Starbucks and Amazon are also supportive of unions and sometimes take the initiative in forming them, the presence of the college-educated in these jobs means there is a “layer of people who particularly have their antennae up,” Milkman said. “There is an additional layer of leadership.”

That workers who attended college would be attracted to nonprofessional jobs at REI, Starbucks and Amazon is not entirely surprising. Over the past decade, the companies’ appetite for workers has grown substantially. Starbucks increased its global workforce to nearly 385,000 last year from about 135,000 in 2010. Amazon’s workforce swelled to 1.6 million from 35,000 during that period.

The companies appeal to affluent and well-educated consumers. And they offer solid wages and benefits for their industries — even, for that matter, compared with some other industries that employ the college-educated.

More than three years after he earned a political science degree from Siena College in 2017, Brian Murray was making about $14 an hour as a youth counselor at a group home for middle-school-age children.

He quit in late 2020 and was hired a few months later at a Starbucks in the Buffalo, New York, area, where his wage increased to $15.50 an hour.

“The starting wage was higher than anything I’d ever made,” said Murray, who has helped organize Starbucks workers in the city.

Such examples appear to reflect broader economic forces.

Data from the past 30 years collected by economists Jaison R. Abel and Richard Deitz at the Federal Reserve Bank of New York showed that unemployment for recent college graduates shot up to over 7% in 2009 and was above 5.3% — the highest previously recorded — as late as 2015.

Jesse Rothstein, a former chief economist of the U.S. Labor Department, found in a 2021 paper that the job prospects for recent college graduates began to weaken around 2005, then suffered a significant blow during the Great Recession and had not fully recovered a decade later.

The recession depressed their employment rates “above what is consistent with normal recession effects,” wrote Rothstein, now a professor at the University of California, Berkeley. “Moreover, this change has persisted into the most recent entrants, who were in middle school during the Great Recession.”

While there is no simple explanation for the trend, many economists contend that automation and outsourcing reduced the need for certain “middle skilled” jobs that college-educated workers performed. Lawrence Katz, a labor economist at Harvard, said consolidation in industries that employ the college-educated also appears to have softened demand for those workers, though he emphasized that those with a college degree still typically earn far more than those without one.

Whatever the case, the gap between the expectations of college graduates and their employability has led to years of political ferment. A study of participants in the Occupy Wall Street movement, which highlighted income inequality and grew out of the 2011 occupation of Zuccotti Park in New York City, found that more than three-quarters were college graduates, versus about 30% of adults at the time. Many had been laid off during the previous five years and “were carrying substantial debt,” the report noted.

In the decade that followed, members of this same demographic group helped lead other activist campaigns, like the Black Lives Matter movement, and supported the presidential campaigns of Bernie Sanders. At least one member — Alexandria Ocasio-Cortez, who had worked as a waitress and a bartender during her post-college years — successfully ran for Congress.

The college-educated began flexing their muscles at work, too. Employees at digital media outlets like Gawker and BuzzFeed unionized in the 2010s, complaining of low pay and unclear paths to promotion, as did employees of think tanks and other nonprofit groups.

Public school teachers across the country walked off the job in 2018 to protest low pay and dwindling resources, while union campaigns proliferated at private colleges among graduate students and nontenure-track faculty.

Milkman pointed to several reasons that college-educated workers had succeeded at organizing even in the face of employer opposition: They often know their rights under labor law, and feel entitled to change their workplace. They believe there is another gig out there if they lose their current one.

“More education does two things — it inoculates you to some extent against employer scare tactics,” Milkman said. “And it’s not that big a deal to get fired. You know, ‘Who cares? I can get some other crummy job.’”

The pandemic reinforced the trend, disrupting the labor market just as it finally appeared to be stabilizing for recent college graduates. It made service sector jobs dangerous in addition to modestly compensated. Amid labor shortages, workers grew bolder in challenging their bosses.

No less important, the college-educated were mobilizing a larger range of workers. When their awakening was confined to white-collar workplaces and hipster coffee shops, said Barry Eidlin, a sociologist who studies labor at McGill University in Montreal, its reach was limited. But at a bigger company like Starbucks, the activism of such workers “has the potential to have much greater reverberations,” he said. “It bleeds into this broader palette of the working class.”

College-educated union supporters began forming alliances with those who did not attend college, some of whom were also budding leaders.

RJ Rebmann, who has not attended college, was hired at a Starbucks store near Buffalo last summer, but soon had trouble getting scheduled. Union supporters, including one studying biotechnology at a local community college, went to a meeting the company was holding and urged company officials to address the situation.

“The union partners were sticking up for me,” said Rebmann, who was already leaning toward supporting the union. “That was a tipping point for me in deciding how I’m going to vote.”

More than 25 Starbucks stores have voted to unionize since then.

A similar diversity of workers carried the union to an 88-14 win at the REI store in New York.

“We have a lot of students, we have a lot of folks who have had previous careers and changed it up,” said Claire Chang, a union supporter who graduated from college in 2014.

And then there is the victory at Amazon, where union supporters say their multiracial coalition was a source of strength, as was a diversity of political views.

“We had straight-up Communists and hard-line Trump supporters,” said Cassio Mendoza, a worker involved in the organizing. “It was really important to us.”

But the mix of educational backgrounds also played a role. Christian Smalls and Derrick Palmer, the two friends who helped found the union, had attended community college. Connor Spence, its vice president of membership, studied aviation while earning an associate degree. He had read popular labor studies books and helped oversee the union’s strategy for undermining the consultants Amazon hired to fight unionization.

Other workers at the warehouse had even more extensive credentials, like Brima Sylla, originally from Liberia, who holds a doctorate in public policy. Sylla speaks several languages and translated the union’s text messages into French and Arabic.

Asked how the union brought together so many people across the lines of class and education, Spence said it was simple: Most Amazon workers struggle with pay, safety concerns and productivity targets, and few get promoted, regardless of education. (The company said that about two-thirds of its 30,000 noncorporate promotions last year involved hourly employees, and that it has made extensive investments in safety.)

“Amazon doesn’t allow people of differing education levels to become separated,” Spence said. “It was the way we were able to unite people — the idea that we’re all getting screwed.”

‘Everything is halted’: Shanghai shutdowns are worsening shortages

The Washington Post

‘Everything is halted’: Shanghai shutdowns are worsening shortages

Abha Bhattarai – April 26, 2022

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China

Thousands of air fryers are stuck in factories, warehouses and ports in central China, where shutdowns have stalled millions of dollars worth of inventory for Yedi Houseware, a family-run business in Los Angeles.

How quickly those backlogged appliances make it to the United States could have wide-ranging implications across the U.S. economy, as domestic manufacturers and retailers brace for another round of disruptions from recent covid-related shutdowns in Shanghai, China’s largest city. White House officials are paying close attention to the disruptions to monitor the potential impact on the U.S. economy.

“Things are getting crazy again,” said Bobby Djavaheri, the company’s president. “Everything is halted. There are closures this very minute that are adding to the supply chain nightmare we’ve been experiencing for two years.”

Other executives are dealing with similar scrambles as the situation in China appears to change every day, sweeping up many different sectors.

Widespread covid outbreaks in China have bought entire cities to a standstill and hobbled manufacturing and shipping hubs throughout the country. An estimated 373 million people – or about one-quarter of China’s population – have been in covid-related lockdowns in recent weeks because of what is known as the country’s zero covid policy, according to economists at Nomura Holdings. There are also fears that new lockdowns could soon take hold in the capital city, Beijing, escalating the threat to the global economic recovery.

Anxiety over new disruptions has already caused the Chinese stock market to fall sharply, weighing on U.S. stock indexes as well.

And there are signs things could only get worse. Continuing lockdowns in Shanghai – a major hub for America’s semiconductor and electronics supply chains – has set up automakers, electronics companies and consumer goods firms for months of delays and higher costs.

The challenges come on top of more than two years of global shipping disruptions that some had hoped would ease this year.

Tech giants and major automakers rely heavily on Shanghai-based suppliers and ports. Roughly one-half of Apple’s top suppliers, for example, are based in or near the city, according to an analysis by Nikkei Asia. (Apple did not immediately respond to requests for comment.) Meanwhile, Volkswagen’s chief executive said this month that the automaker is “temporarily unable to meet high customer demand” because of ongoing lockdowns. The company, which had to stop production at certain facilities for more than a month for covid-related reasons, says it is gradually resuming production now.

“If Shanghai continues being unable to resume work and production, from May, all tech and industrial players involving the Shanghai supply chain will completely shut down, especially the auto industry!” Richard Yu, head of consumer and auto business at Chinese tech giant Huawei, was reported to have said on the social media platform WeChat.

The delays and closures are adding to costs and could pose another threat to long-term inflation, which is already at a 40-year high. Yedi Housewares, for example, raised prices on all of its products, including air fryers, electric pressure cookers and bread makers, by 10 percent in January.

Costs have continued to climb since then, in part because of the war in Ukraine. The price of plastic, a major component in air fryers, is up about 5 percent this year, Djavaheri said. The company is also paying more for transportation, since it’s begun moving goods by truck from Shanghai to ports in Ningbo, three hours away, in hopes of putting them on a ship there.

White House officials are closely monitoring the situation in Shanghai, with the State Department providing frequent updates on the potential impacts. New economic data from March shows Chinese exports of good rose by 15 percent relative to last year, but this data does not reflect the impact of the Shanghai lockdown that began at the end of last month, according to a White House official, who spoke on the condition of anonymity to provide internal administration assessments.

The administration is already seeing “significant impacts” to airports critical to air cargo shipments and links in the supply chain such as factories and warehouses, the person said. Despite the closure of the port, White House officials are seeing alternate ports ratcheting up their work, relieving some of the expected pressure for consumers.

Mark Beneke, who co-owns a used car dealership in Fresno, Calif., says it’s become increasing difficult to secure parts for Asian-made vehicles like Hyundai Sonatas and Kia Optimas since the Shanghai lockdown began a month ago.

Used car prices are already up 35 percent from a year ago, according to the Bureau of Labor Statistics, and Beneke says he expects them to climb even higher in coming weeks as a result of new shortages and delays.

“We were expecting prices to start coming down this summer, but it looks like they’re going to keep going up,” he said.

In some cases, though, retailers are better positioned to weather the latest challenges than they were a year ago. Many have stashed away extra inventory in U.S. warehouses and stores to guard against supply chain delays. Roughly 90 percent of goods at grocery and drugstores are in stock, according to data analytics firm Information Resources. And the number of import containers sitting on the docks for more than nine days at the ports of Los Angeles and Long Beach has been cut by one-half since October.

At the same time, consumer demand for many goods – including clothing, toys and furniture – appears to be waning as people spend more on travel, dining out and other experiences that they largely avoided earlier in the pandemic.

“The demand just isn’t there anymore,” said Isaac Larian, chief executive of MGA Entertainment, the toy giant behind popular brands like Little Tikes and L.O.L. Surprise. “Sales are slowing down. Families are saying, ‘I’ll take my kids to Disney this summer instead of buying more toys.”

The shipping time for toys from China to U.S. stores has ballooned from 21 days to 159 days during the pandemic, he said.

“All holiday toys have to ship out of China by the beginning of August, but that is not going to happen,” Larian said. “The factories are having a tough time getting labor, prices are going up, China keeps closing provinces. The big picture is bad, worse than last year.”

Back in Los Angeles, Djavaheri of Yedi Houseware, says he’s just beginning to recover from closures in southern China earlier this year, where his company makes electric pressure cookers. The brand – which has been featured in Oprah’s Favorite Things list for three years in a row – is still struggling to make enough products to meet demand.

“To be honest, I don’t even want to be in China but it’s the only option,” Djavaheri said. “If there was a way to make air fryers or electric pressure cookers in America, I would’ve been there yesterday. Instead we’re dealing with hurdle after hurdle: Inflation, logistics, it’s a constant nightmare.”

The Washington Post’s Jeff Stein contributed to this report.

Pandemic, war, and inflation has spurred some people to a life of ‘homesteading’ and ‘prepping.’ Here’s how these practitioners live off the land and plan for disaster.

Insider – Home Economy

Pandemic, war, and inflation has spurred some people to a life of ‘homesteading’ and ‘prepping.’ Here’s how these practitioners live off the land and plan for disaster.

Gabrielle Bienasz – April 16, 2022

A photo of a garden with a house in the background.
The Green Gardens Homestead in Washington. 
  • Homesteading is living off the land, but social media influencers have added a modern spin.
  • After the pandemic, war, and inflation, it’s grown even more attractive.
  • Prepping, another survivalist-style niche, has overlap with homesteading and has seen an uptick, too. 

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Five years ago, Nivek Anderson-Brown and her husband moved to Virginia, where they now raise chickens, grow crops, sell at farmer’s markets, and broadcasts content on TikTok as the Leaf and Bean Farm — all part of the life of a 21st century, live-off-the-land homesteader.

“People were like, ‘Are you crazy?’ when we first did it. And then, when the pandemic happened, they were like, ‘Tell us what you did!'” Brown said. 

Lettuce growing in a garden.
Greens of Brown’s homestead. 

In a time of chaotic supply chainsrising food pricesinflation, and war anxiety, being able to provide for yourself has a new glow, whether it’s through “homesteading” or its close cousin, “prepping,” 10 of the communities’ online members told Insider. 

The homesteading life

“Any small amount of trying to grow your own food or preserving. That’s homesteading,” says Ciearra Evans, of The Thrifted Planer homestead. 

But the lifestyle tends to build upon itself, Brown said. For example, she started out growing and drying herbs, then realized she had enough land to forage. 

Once she did, she found a patch of the mint-like plant horehound — which led to her making homemade cough drops.

“It was just like one thing rolling into another,” she said. “It takes on a life of its own.” 

Jars of food.
Preserving at Brown’s homestead. 

The term “homesteading” has been co-opted throughout history, from 1970s hippie communes to formerly enslaved Black Americans seeking land in Kansas to fundamentalist Christians raising children off the grid, said Brian Cannon, professor of history at Brigham Young University and author of a book about post-World War II homesteading. 

“I think we have, in the US, dating clear back to Thomas Jefferson, the conviction that rural life is wholesome,” he added. 

Chickens pecking at the ground.
Chickens at Brown’s homestead. 

Homesteading also can be a form of political or social dissent, according to a 2016 dissertation Jordan Travis Radke on modern homesteaders, from the University of North Carolina at Chapel Hill. It’s a way to “opt out” of systems that feel entrenched, from the government to climate change, she wrote. 

Many homesteaders tend to be white, Cannon said, which is no surprise, considering land is a key (but not essential) element of homesteading, and many Black Americans have lost land throughout US history

It’s something on the minds of Evans and Brown, who try to garden and create content as well as give voices to Black homesteaders online. 

“There aren’t a lot of people that look like me that do this,” Brown said. 

Homesteader’s cousin

For some, homesteading can eventually or immediately evolve into “prepping,” a term coined for another survivalist-type niche that focuses on preparing for a harder or possibly more dystopian future, the perception of which has come to pass for some.

Jars of food
More preserved food at Brown’s homestead. 

In particular, prepping has seen heightened interest as inflation has grown worse and amid Russia’s invasion of Ukraine-driven anxiety about food shortages, prepper-influencers told Insider. 

Tiffany Holloway, an apartment-style prepper on TikTok, said her following grew by about tens of thousands in March amid increasing inflation.

Holloway herself got into prepping after the 2021 ice storms in Texas. One of her neighbors ran out of baby formula. “I ended up having to nurse her baby for her,” via pumping, Holloway said. “This whole experience taught me that you have to prepare.” 

Holloway now teaches prepping on TikTok for people with small spaces and lower budgets, as well as focusing on prepping for potential domestic violence as a DV survivor herself – i.e., having a bag with a burner phone, money, and financial and identifying documents. 

However, there can be a darker side to the prepper community, as far as folks who lean too far into extreme anxiety or paranoia.

Holloway said she finds some of the content on TikTok fear-monger-y, though she said that’s not her niche.

“I try to keep it pretty positive on my page,” she said. 

Most preppers isolate and stay silent about their stores, something known as the “gray man” trope.

“People will become desperate. Ninety-five percent of people don’t have food at their house,” said Cam Hardy of The Casual Preppers Podcast.

If they know you have food, “they’ll know exactly where to go,” he said

Florida might lose its fourth insurance company in as many months as lawmakers are polled on special

CBS 47 Fox 30 – Action News Jax

Florida might lose its fourth insurance company in as many months as lawmakers are polled on special

Jake Stofan – April 15, 2022

Florida has lost three property insurance companies in as many months and could be on the verge of losing another after FedNat insurance was downgraded Friday.

The four losses combined would leave as many as 400,000 policyholders without coverage.

Homeowners in Northeast Florida are now beginning to see the double-digit year-over-year rate hike that was once reserved for places like Miami.

Some state lawmakers are arguing that without a special session, things are just going to keep getting worse.

Ronnie Rohn is 78.

He lives on Social Security and works here and there to make ends meet.

So, when he was told he’d be seeing his homeowner’s insurance increase by $600 this year, it hurt.

“Half our Social Security goes toward medicine and stuff and the extra $600 would help,” said Rohn.

Rohn is far from alone in his financial struggles.

Rising rates in Northeast Florida are driving more and more Duval residents to the state’s insurer of last resort.

Citizens Insurance has seen its number of Duval policies double over the last year.

“What started out as being a south Florida issue has started to work its way throughout the state,” said Citizens spokesperson Michael Peltier.

State Senator Jeff Brandes (R-St. Petersburg) told us the state’s private insurance market is on life support.

He has initiated a call for a special session to help stop the bleeding.

“And the Legislature’s either going to get our arms around this or the whole market is going to start shutting down,” said Brandes.

The Secretary of State sent out an official poll of lawmakers Thursday.

Two-thirds of lawmakers from both chambers will have to agree by Monday for a special session to be called.

Brandes said that even with a special session, any reforms will take between 18 and 24 months to affect rates, but he argues waiting is no longer an option.

“Let’s make this the primary focus of everything we’re dealing on. This is quickly becoming the number one issue and the number one challenge facing the State of Florida,” said Brandes.

We’ll have a first look at the number of those who have voted yes sometime Friday evening.

As the world questions globalization, China will become the big loser

Los Angeles Times

Op-Ed: As the world questions globalization, China will become the big loser

Minxin Pei – April 14, 2022

In this photo taken Wednesday April 25, 2012, a China Shipping Line container ship makes its way toward the Golden Gate past the San Francisco skyline in this view from Sausalito, Calif. (AP Photo/Eric Risberg)
China has been the world’s largest exporter, shipping $3.3 trillion in goods last year. (Eric Risberg / Associated Press)

Russia’s unprovoked war against Ukraine has accelerated the division of the world into two blocs, one comprising the world’s democracies, and the other its autocracies. This has exposed the risks inherent in economic interdependence among countries with clashing ideologies and security interests. And although the coming deglobalization process will leave everyone worse off, China stands to lose the most.

Of course, China was headed toward at least a partial decoupling with the United States well before Russia invaded Ukraine. And it has been seeking to ensure that this process happens on its terms, by reducing its dependence on U.S. markets and technology. To that end, in 2020 China unveiled its so-called dual-circulation strategy, which aims to foster domestic demand and technological self-sufficiency.

And yet, last year, China was still the world’s largest exporter, shipping $3.3 trillion in goods to the rest of the world, with the U.S. its leading export market. In fact, overall trade with the U.S. grew by more than 20% in 2021, as total Chinese trade reached a new high. Trade with the European Union also grew, reaching $828 billion, even as disagreements over human rights torpedoed a controversial EU-China investment agreement.

That agreement had been born of the belief that Europe would maintain strategic neutrality in the Sino-American cold war in order to reap the economic benefits of engagement with China. But if human rights concerns were enough to convince the European Parliament not to ratify the deal, Russia’s war against Ukraine — in which China has tacitly supported Russia, and which has pushed the U.S. and the EU closer together — seems likely to drive the EU toward a broader economic decoupling from China.

One cannot blame Western democracies or their autocratic adversaries for prioritizing security over economic welfare. But they must brace for the economic consequences. And a middle-income autocracy like China will bear a far larger cost than rich democracies like the U.S. and its European allies.

For starters, China will suffer from reduced access to major Western markets. In 2021, Chinese merchandise exports to the U.S., the EU, and Japan — accounting for 38% of total exports — amounted to nearly $1.3 trillion. If China’s access to these three markets is halved over the next decade — a likely scenario — the country will need other markets to absorb roughly 20% of its exports, worth some $600 billion (based on 2021 trade data).

Here, China appears to have no good options. China’s dual-circulation strategy indicates that not even its leaders expect other external markets to pick up the slack left by the U.S. and its allies. And China’s apparent belief that domestic demand can offset this loss also seems farfetched.

High debt, rapid population aging, and an imploding real-estate sector will continue to hamper GDP growth, while sharp income inequality, soaring housing costs, and inadequate social protections will constrain consumer demand. The closure of factories producing goods for export, and the associated job losses, will exacerbate these challenges further. A significant share of China’s infrastructure — especially energy and transportation networks — will be underused or even become redundant.

Aside from facing shrinking export markets, China will lose access to the technologies it needs to build a knowledge economy. U.S. sanctions have already crippled telecom giant Huawei and prevented SMIC, a semiconductor manufacturer, from getting its hands on the most advanced technologies. If the U.S. persuades the EU and Japan to revive the Coordinating Committee for Multilateral Export Controls (CoCom) to choke off technology flows to China — a prospect made more likely by the Ukraine war — China will have little chance of winning the technology race with the U.S.

The third key cost of deglobalization for China is harder to measure, but it may well turn out to be the highest: the loss of efficiency gains from dynamic competition. Products made and sold in China are of a far higher quality today than they were two decades ago, largely because Chinese companies must compete with their Western rivals. But if they are insulated from such pressure, they will not face pressure to produce higher-quality products at lower cost. This will hamper innovation and hurt consumers.

All of these costs might be bearable if economic decoupling actually made China more secure. And, at first, it might seem to be doing just that, with China reducing its vulnerability to the kinds of economic and financial weapons that the West has deployed against Russia. But as China’s economic might declines, so will its position on the global stage and the Communist Party’s status at home.

Seven decades ago, Mao Zedong embraced economic self-reliance and foreign-policy militancy, which turned China into an impoverished pariah state. This history should be a stark warning to President Xi Jinping. If he allows Russia, China’s “no limits” strategic partner, to divide the world with its war on Ukraine, it is China that will pay the heaviest price.

Minxin Pei is a professor of government at Claremont McKenna College.

Most efficient vehicles of 2022

auto blog

Most efficient vehicles of 2022

John Beltz Snyder – April 11, 2022

Fueling our cars is no small expense, but as a recurring and regular part of owning a vehicle, it’s inevitable. That can make things interesting — frustrating, burdensome — when the market is in turmoil, or when we have a life change that necessitates greater consumption. Gas prices can fluctuate head-spinningly quickly, too. And it’s not just internal combustion vehicles that are subject to changing fuel costs. EV operating costs are tied to energy prices, too, of course, which means changes in supply and demand due to global or national economics, or even regional weather events, can mean we’re paying more per mile regardless of what fuels our vehicles. And perhaps it’s not about the money.

Even when prices are cheap, many of us would like to minimize our footprint in the course of our daily lives. As such, choosing a fuel-efficient vehicle can be a priority for drivers who want to spend less and pollute less. With that in mind, here are the most efficient vehicles you can buy today, broken down by powertrain, with combined fuel economy and estimated annual fuel costs listed. (EPA calculates annual fuel cost based on “45% highway, 55% city driving, 15,000 annual miles and current fuel prices,” but also offers a calculator to personalize your own estimated yearly fuel costs.)

Most efficient EVs for 2022

Battery-electric vehicles are the obvious choice for saving on fuel costs and consumption, but not all EVs are created equal. Range is often the bigger consideration for many customers when choosing an EV — we just want to be able to get where we’re going with the least disruption and downtime. If lower operating costs and carbon footprint is your goal, though, you want to pay more attention to efficiency than driving range. The simplest way for a consumer to do this is to look at the EPA’s combined miles-per-gallon-equivalent (mpge) rating. We’re also including the EPA’s estimated annual fuel costs. Here are the top 20 most efficient EVs, based on the most efficient version of each model. These are also the least expensive to fuel overall.

1. Tesla Model 3: 132 mpge; $500/yr

2. Lucid Air: 131 mpge; $500/yr

3. Tesla Model Y: 129 mpge; $500/yr

4. (Tie) Chevrolet Bolt EV: 120 mpge; $550/yr

4. (Tie) Hyundai Kona Electric: 120 mpge; $550/yr

4. (Tie) Tesla Model S: 120 mpge; $550/yr

7. Kia EV6: 117 mpge; $550/yr

8. Chevrolet Bolt EUV: 115 mpge; $550/yr

9. Hyundai Ioniq 5: 114 mpge; $600/yr

10. Kia Niro EV: 112 mpge; $600/yr

11. Nissan Leaf: 111 mpge; $600/yr

12. Mini Cooper SE: 110 mpge; $600/yr

13. BMW i4: 109 mpge; $600/yr

14. Polestar 2: 107 mpge; $600/yr

15. Ford Mustang Mach-E: 103 mpge; $650/yr

16. Tesla Model X: 102 mpge; $650/yr

17. Volkswagen ID.4: 99 mpge; $650/yr

18. Mercedes-Benz EQS: 97 mpge; $700/yr

19. Audi Q4 E-Tron (incl. Sportback): 95 mpge; $700/yr

20. Mazda MX-30: 92 mpge; $700/yr

If you’d rather break it down further by including each individual specification, the 15 most efficient EVs are as follows.

1. Tesla Model 3 RWD: 132 mpge; $500/yr

2. (Tie) Lucid Air G Touring AWD w/19-inch wheels: 131 mpge; $500/yr

2. (Tie) Tesla Model 3 Long Range AWD: 131 mpge; $500/yr

4. Tesla Model Y RWD: 129 mpge; $500/yr

5. Lucid Air Dream R AWD w/19in wheels: 125 mpge; $500/yr

6. Tesla Model Y Long Range AWD: 122 mpge; $550/yr

7. Lucid Air G Touring AWD w/21-inch wheels: 121 mpge; $550/yr

8. (Tie) Chevrolet Bolt EV: 120 mpge; $550/yr

8. (Tie) Hyundai Kona Electric: 120 mpge; $550/yr

8. (Tie) Tesla Model S: 120 mpge; $550/yr

11. Kia EV6 RWD (both Standard- and Long-Range): 117 mpge; $550/yr

12. (Tie) Lucid Air Dream P AWD w/19-inch wheels: 116 mpge; $550/yr

12. (Tie) Lucid Air Dream R AWD w/21-inch wheels: 116 mpge; $550/yr

12. (Tie) Tesla Model S Plaid w/19-inch wheels: 116 mpge; $550/yr

15. Chevrolet Bolt EUV: 115 mpge; $550/yr

Most efficient plug-in hybrids for 2022

If going gas-free isn’t in your plans, a plug-in hybrid is a decent compromise to lower your fuel costs and emissions while still having the convenience and security of being able to fill up quickly and be on your way, while still being able to do some driving on electricity alone. These are the most efficient PHEVs currently on sale, based on combined mpge rated by EPA. Estimated annual fuel costs are listed, as well. Note that some of these are even more efficient, by the EPA’s standards, than some all-electric vehicles in the list above. In fact, #1 is rated the most efficient of all the vehicles on this page, period.

1. Toyota Prius Prime: 133 mpge; $750/yr

2. Hyundai Ioniq Plug-In Hybrid: 119 mpge; $750/yr

3. (Tie) Ford Escape PHEV: 105 mpge; $850/yr

3. (Tie) Kia Niro Plug-In Hybrid: 105 mpge; $850/yr

5. Toyota RAV4 Prime: 94 mpge; $900/yr

6. Lexus NX 450h Plus: 84 mpge; $1,150/yr

7. Chrysler Pacifica Hybrid: 82 mpge; $1,200/yr

8. Hyundai Tucson Plug-In Hybrid: 80 mpge; $1,100/yr

9. Kia Sorento Plug-In Hybrid: 79 mpge; $1,150/yr

10. Lincoln Corsair Grand Touring: 78 mpge; $1,200/yr

11. Hyundai Santa Fe Plug-In Hybrid: 76 mpge; $1,200/yr

12. BMW 330e: 75 mpge; $1600/yr

13. Mitsubishi Outlander PHEV: 74 mpge; $1,450/yr

14. Mini Cooper SE Countryman: 73 mpge; $1,750/yr

15. Audi A7 e: 70 mpge; $1,500/yr

16. (Tie) Volvo S60 Recharge: 69 mpge; $1,550/yr

16. (Tie) Volvo V60 Recharge: 69 mpge; $1,550/yr

18. BMW 530e: 64 mpge; $1,750/yr

19. Volvo S90 Recharge: 63 mpge; $1,650/yr

20. Volvo XC60 Recharge: 57 mpge; $1,950/yr

Most-efficient internal combustion vehicles for 2022

If you’re not ready or able to get a car with a plug, but still want to get the most mileage from your fill-ups, these are the most efficient gasoline-powered vehicles you can buy. The vast majority of these are traditional hybrids, but a few non-hybrid cars made the list. Again, these are based on the EPA’s combined mpg rating, listed by the most efficient specification for each model, and including estimated annual fuel costs.

1. Hyundai Ioniq: 59 mpg; $900/yr

2. Toyota Prius: 56 mpg; $950/yr

3. Hyundai Elantra Hybrid: 54 mpg; $1,000/yr

4. Honda Insight: 52 mpg; $1,050/yr

4. (Tie) Hyundai Sonata Hybrid: 52 mpg; $1,050/yr

4. (Tie) Toyota Camry Hybrid: 52 mpg; $1,050/yr

4. (Tie) Toyota Corolla Hybrid: 52 mpg; $1,050/yr

8. Kia Niro: 50 mpg; $1,100/yr.

9. Honda Accord Hybrid: 47 mpg; $1,150/yr

10. (Tie) Lexus ES 300h: 44 mpg; $1,250/yr

10. (Tie) Toyota Avalon Hybrid: 44 mpg; $1,250/yr

12. Lexus UX 250h: 42 mpg; $1,300/yr

13. Ford Escape Hybrid: 41 mpg; $1,300/yr

14. Toyota RAV4 Hybrid: 40 mpg; $1,350/yr

15. (Tie) Lexus NX 350h: 39 mpg; $1,650/yr

15. (Tie) Mitsubishi Mirage: 39 mpg; $1,400/yr

15. (Tie) Toyota Venza: 39 mpg; $1,400/yr

18. (Tie) Honda CR-V Hybrid: 38 mpg; $1,400/yr

18. (Tie) Hyundai Tucson Hybrid: 38 mpg; $1,400/yr

20. (Tie) Ford Maverick: 37 mpg; $1,450/yr

Germany Announces New Plan to ‘Turbocharge’ Transition to Renewable Energy

EcoWatch – Renewable Energy

Germany Announces New Plan to ‘Turbocharge’ Transition to Renewable Energy

Olivia Rosane – April 07, 2022

A solar energy field next to a coal plant in Germany.

A solar energy field next to a coal plant in Germany. Jens Schlueter / Getty Images

Responding to both the climate crisis and Russia’s invasion of Ukraine, Germany unveiled a major package Wednesday to speed its transition to renewable energy. 

The goal of the new plan is for Germany to get at least 80 percent of its energy from renewable sources by 2030 and achieve almost 100 percent renewable energy by 2035, DW reported. 

“On the one hand, the climate crisis is coming to a head. On the other hand, Russia’s invasion shows how important it is to phase out fossil fuels and promote the expansion of renewables,”  Economy Minister Robert Habeck told the press, as Reuters reported. 

The package comes days after the latest Intergovernmental Panel on Climate Change report warned that nations must reduce carbon dioxide emissions 43 percent by 2030 in order to limit global warming to 1.5 degrees Celsius above pre-industrial levels. It also comes as European countries have vowed to wean themselves off of Russian fossil fuels “well before 2030” in response to Russia’s invasion of Ukraine. 

The new energy plan is a 600-page document known as the “Easter Package,” DW reported. Habeck said it was “the biggest comprehensive energy package in two decades” and would “turbocharge” the transition to renewable energy. 

The plan is the work of Germany’s coalition government, which includes the Free Liberals, Social Democrats and Greens, according to Reuters. It was approved by the German cabinet. It increases Germany’s previous renewable energy target from 65 percent by 2030. Currently, the country gets around 40 percent of its energy from renewable sources. Meeting the 100 percent 2035 goal will require the country to more than double its current rate in 13 years, AP News reported. 

The new plan also sets specific targets for different types of renewable energy, according to DW. These include:

  1. Increasing land-based wind power by 10 gigawatts a year, to reach 115 gigawatts by 2030. 
  2. Increasing solar by 22 gigawatts a year, to reach 215 gigawatts by 2030.
  3. Reaching 30 gigawatts of offshore wind power by 2030, 40 by 2035 and at least 70 by 2045. 

While the plan is ambitious, Germany may miss its near-term climate targets because of failing to take action in the past, Habeck said, as AP News reported. The transition to renewable energy has lagged in recent years because of regulations and changes to feed-in subsidies, and the country added no offshore wind power in 2021. The new package labels renewable energy as having “overriding public interest,” which should help speed changes through the bureaucracy. 

In the immediate push to phase out Russian fossil fuels, Germany may have to increase the use of domestic coal, Habeck acknowledged. He said that the country would stop importing Russian oil and coal this year and gas by halfway through 2024. 

“You can see at what speed we are becoming independent of Russian energy,” he said. 

Germany aims to achieve carbon neutrality by 2045. 

Why this week’s French elections matter to the wider world

Associated Press

Why this week’s French elections matter to the wider world

Thomas Adamson – April 8, 2022

FILE - French Far-left presidential candidate for the 2022 election Jean-Luc Melenchon gestures as he speaks during a meeting in Nantes, western France, Sunday, Jan. 16, 2022. Jean-Luc Melenchon used to call Russia a "partner," even as European governments were scrambling to find ways to avert a Russian invasion of Ukraine. He now supports the Ukrainian's "resistance" and Russians who are opposing the war and fighting "dictatorship" in their own country. (AP Photo/Jeremias Gonzalez, File)
French Far-left presidential candidate for the 2022 election Jean-Luc Melenchon gestures as he speaks during a meeting in Nantes, western France, Sunday, Jan. 16, 2022. Jean-Luc Melenchon used to call Russia a “partner,” even as European governments were scrambling to find ways to avert a Russian invasion of Ukraine. He now supports the Ukrainian’s “resistance” and Russians who are opposing the war and fighting “dictatorship” in their own country. (AP Photo/Jeremias Gonzalez, File)
FILE - French far-right leader Marine Le Pen delivers a speech during a campaign rally, Feb. 5, 2022 in Reims, eastern France. Marine Le Pen, 53, is considered Macron's main challenger. Le Pen's plans include the end of family reunification, restricting social benefits to the French only, deporting foreigners who stay unemployed for over a year and other migrants who entered illegally in the country. (AP Photo/Michel Euler, File)
French far-right leader Marine Le Pen delivers a speech during a campaign rally, Feb. 5, 2022 in Reims, eastern France. Marine Le Pen, 53, is considered Macron’s main challenger. Le Pen’s plans include the end of family reunification, restricting social benefits to the French only, deporting foreigners who stay unemployed for over a year and other migrants who entered illegally in the country. (AP Photo/Michel Euler, File)
FILE - French far-right presidential candidate Eric Zemmour delivers his speech during a campaign rally on the Trocadero square, in front of the Eiffel Tower, Sunday, March 27, 2022 in Paris. Eric Zemmour wants France to get out of NATO military command and make its own security choices. Zemmour's plans include creating a coast-guard military force, removing social benefits for non-European foreigners, deporting migrants who entered illegally in the country and foreigners who stay unemployed for more than six months. (AP Photo/Michel Euler, File)
French far-right presidential candidate Eric Zemmour delivers his speech during a campaign rally on the Trocadero square, in front of the Eiffel Tower, Sunday, March 27, 2022 in Paris. Eric Zemmour wants France to get out of NATO military command and make its own security choices. Zemmour’s plans include creating a coast-guard military force, removing social benefits for non-European foreigners, deporting migrants who entered illegally in the country and foreigners who stay unemployed for more than six months. (AP Photo/Michel Euler, File)
FILE - French conservative candidate for the upcoming presidential election Valerie Pecresse delivers her speech during a campaign rally, Sunday, April 3, 2022 in Paris. Pecresse denounced Putin's brutality and pushed for firm sanctions on Russia. Valerie Pecresse said she prepared herself for the role of army chief assigned to the President. She wants a ban on wearing the veil for young girls and in sport associations. (AP Photo/Lewis Joly, File)
 French conservative candidate for the upcoming presidential election Valerie Pecresse delivers her speech during a campaign rally, Sunday, April 3, 2022 in Paris. Pecresse denounced Putin’s brutality and pushed for firm sanctions on Russia. Valerie Pecresse said she prepared herself for the role of army chief assigned to the President. She wants a ban on wearing the veil for young girls and in sport associations. (AP Photo/Lewis Joly, File)
FILE - French President Emmanuel Macron and centrist candidate for reelection delivers his speech during a meeting in Paris, Saturday, April 2, 2022. Emmanuel Macron has been at the forefront of international talks on how to support Ukraine and take sanctions against Russia. The situation tended to enhance his stature as world leader and boosted his popularity in polls. Macron vowed to keep investing in the French military and "significantly" reinforcing European armies' capacities and cooperation. (AP Photo/Francois Mori, File)
French President Emmanuel Macron and centrist candidate for reelection delivers his speech during a meeting in Paris, Saturday, April 2, 2022. Emmanuel Macron has been at the forefront of international talks on how to support Ukraine and take sanctions against Russia. The situation tended to enhance his stature as world leader and boosted his popularity in polls. Macron vowed to keep investing in the French military and “significantly” reinforcing European armies’ capacities and cooperation. (AP Photo/Francois Mori, File)

PARIS (AP) — With war singeing the European Union’s eastern edge, French voters will be casting ballots in a presidential election whose outcome will have international implications. France is the 27-member bloc’s second economy, the only one with a UN Security Council veto, and its sole nuclear power. And as Russian President Vladimir Putin carries on with the war in Ukraine, French power will help shape Europe’s response.

Twelve candidates are vying for the presidency — including incumbent and favorite President Emmanuel Macron who is seeking a new term amid a challenge from the far-right.

Here’s why the French election, taking place in two rounds starting Sunday, matters:

Russia’s war in Ukraine has afforded Macron the chance to demonstrate his influence on the international stage and burnish his pro-NATO credentials in election debates. Macron is the only front-runner who supports the alliance while other candidates hold differing views on France’s role within it, including abandoning it entirely. Such a development would deal a huge blow to an alliance built to protect its members in the then emerging Cold War 73 years ago.

Despite declaring NATO’s “brain death” in 2019, the war in Ukraine has prompted Macron to try and infuse the alliance with a renewed sense of purpose.

“Macron really wants to create a European pillar of NATO,” says Susi Dennison, Senior Fellow at the European Council on Foreign Relations. “He’s used it for his shuttle diplomacy over the Ukraine conflict.”

On the far-left, candidate Jean-Luc Melenchon wants to quit NATO outright, saying that it produces nothing but squabbles and instability. A NATO-skeptic President Melenchon might be a concern especially for Poland, which has a 1,160-kilometer border with territory now controlled by Russia.

Several other candidates want to see either diminished engagement with the alliance or a full withdrawal. Although unlikely, France’s departure from NATO would create a deep chasm with its allies and alienate the United States.

EUROPEAN COOPERATION

Observers say a Macron re-election would spell real likelihood for increased cooperation and investment in European security and defense — especially with a new pro-EU German government.

Under Macron’s watch, France’s defense spending has risen by €7 billion euros ($7.6 billion) with a target to raise it to 2% of gross domestic product — something that leaders including Putin are watching closely. In his second term, Macron would almost certainly want to build up a joint European response to Ukraine and head off Russian threats.

A FAR RIGHT ALLIANCE?

This election could reshape France’s post-war identity and indicate whether European populism is ascendant or in decline. With populist Viktor Orban winning a fourth consecutive term as Hungary’s prime minister days ago, eyes have now turned to France’s resurgent far right candidates — especially National Rally leader Marine Le Pen who wants to ban Muslim headscarves in streets, and halal and kosher butchers, and drastically reduce immigration from outside Europe.

“If a far-right candidate wins, it could create some sort of alliance or axis in Europe,” said Dennison, of the European Council on Foreign Relations. “Le Pen has been tweeting pictures of herself shaking hands with Orban in recent days. She is championing a Europe of strong nation states.”

That axis might include Poland’s President Andrzej Duda, a right-wing populist and ally of Donald Trump. It has alarmed observers.

“Over 30 percent of French voters right now say they are going to vote for a far right candidate. If you include Melenchon as another extreme, anti-system candidate — that’s almost half the entire voting population. It is unprecedented,” Dennison said.

Far right candidate Eric Zemmour has dominated the French airwaves with his controversial views on Islam in France and immigration.

However, even centrist Macron ruffled feathers in Muslim countries two years ago when he defended the right to publish cartoons of the prophet Muhammad. That came during a homage to a teacher beheaded by a fundamentalist for showing the cartoons to his pupils as part of a class on free speech.

A FRIEND OF AMERICA

The US often touts France as its oldest ally — and from Russian sanctions to climate change and the United Nations, Washington needs a reliable partner in Paris. France is a vital trans-Atlantic friend for America, not least for its status as continental Europe’s only permanent UN Security Council member wielding veto power.

Despite the bitter US-France spat last year over a multibillion deal to supply Australia with submarines — which saw France humiliated — President Joe Biden and Macron are now on solid terms.

“Macron is obviously the only candidate that has history and credentials in the US relationship. All the others would be starting from scratch at a time of great geopolitical uncertainty,” said Dennison..

Unlike Macron, an Elysee in the hands of Zemmour or Le Pen would likely mean less preoccupation with issues that the U.S. considers a priority such as climate change. “They might not prioritize the large economic cost of keeping the Paris Climate Agreement alive and the potential to limit global warming to 1.5%,” Dennison added.

MIGRATION IN THE CONTINENT

In light of a huge migrant influx into Europe last year, France’s position on migration will continue to strongly impact countries on its periphery and beyond. This is especially so because of its geographical location as a leg on the journey of many migrants to the U.K.

A migrant vessel capsized in the English Channel last November killing 27 people, leading to a spat between France and the U.K. over who bore responsibility The British accused France of not patrolling the coast well enough, yet Macron said this was an impossible task. Observers consider France not to be a particularly open to migrants within a European context and see Macron as a relative hardliner on migration.

But Le Pen or Zemmour would likely usher in tougher policies than Macron if they either emerges victorious, such as slashing social allocations to non-French citizens and capping the number of asylum seekers. Some candidates have supported a Trump-style construction of border fences.

Plant-Based Grocery Sales Outpace Total Food Sales by 3x in U.S., Study Finds

EcoWatch – Food

Plant-Based Grocery Sales Outpace Total Food Sales by 3x in U.S., Study Finds

Paige Bennett – April 08, 2022

A woman shops for vegan foods.

Plant-based food sales were three times higher than total food sales in the U.S. in 2021. Ole Spata / picture alliance via Getty Images

A new study from The Good Food Institute (GFI), the Plant-Based Foods Association (PBFA) and SPINS, a wellness-focused data technology organization, has found that at U.S. grocery stores, plant-based food sales were three times higher than total food sales in 2021. 

According to the report, plant-based food sales increased 6.2% compared to previously record-high sales in 2020, and the plant-based food market reached $7.4 billion last year. For many categories, plant-based products were more popular than conventional counterparts made with dairy or meat.

“Meanwhile, the conventional protein market has been rocked by supply chain disruptions and escalating inflation,” the report said. “Conventional meat dollar sales grew three times faster than its unit sales over the past three years, indicating that the apparent growth is driven solely by price hikes.”

GFI noted that the largest plant-based category is milk, and 42% of U.S. households purchased plant-based milk in 2021. Plant-based milks have been popular in recent years with a dollar sales growth from 4% to 33% over the past three years. In 2021, dairy milk sales declined by 2% in comparison.

Almond milk remains the top choice, making up 59% of all plant-based milk sales. Oat milk has seen rapid growth though and is up to 17% of plant-based milk sales as of last year. In 2017, oat milk sales made up only 0.5% of the category in 2018.

Other dairy-free products, such as ice creams, yogurts, creamers and cheeses, also saw growth over the past year, while many conventional products, such as cheese, actually declined in 2021.

Meat alternatives are an interesting case study in their own right. Although the plant-based meat category matched its 2021 sales to its 2020 sales, plant-based meat unit sales outpaced conventional meat unit sales six times in the past three years. Plant-based burgers lead the category with the most sales, but chicken alternatives and other options like deli slices and meatballs have seen the most growth in the past year.

“The sustained rise in the market share of plant-based foods is remarkable, and makes it clear that this shift is here to stay. More and more consumers are turning to plant-based options that align with their values and desire to have a positive impact on personal and planetary health,” said Julie Emmett, PBFA senior director of marketplace development. “The potential impact of these initiatives extends far beyond the store shelf: By taking consumer concerns to heart, the industry is actively embracing its role as a key driver of change that moves us closer to a secure and sustainable food system.”

Shell raises Russia writedown to as much as $5 billion

Reuters

Shell raises Russia writedown to as much as $5 billion

Ron Bousso – April 7, 2022

General view of a Shell petrol station sign

LONDON (Reuters) – Shell will write down up to $5 billion following its decision to exit Russia, more than previously disclosed, while soaring oil and gas prices boosted trading activities in the first quarter, the company said on Thursday.

The post-tax impairments of between $4 billion and $5 billion in the first quarter will not impact the company’s earnings, Shell said in an update ahead of its earnings announcement on May 5.

Shell, whose market capitalisation is around $210 billion, had previously said the Russia writedowns would reach around $3.4 billion. The increase was due to additional potential impacts around contracts, writedowns of receivables, and credit losses in Russia, a Shell spokesperson said.

Shell shares were down 1.2% at the start of London trading.

The start of 2022 marked one of the most turbulent periods in decades for the oil and gas industry as Western companies including Shell rapidly pulled out of Russia, severing trading ties and winding down joint ventures following Moscow’s invasion of Ukraine.

Shell said it will exit all its Russian operations, including a major liquefied natural gas plant in the Sakhalin peninsula in the eastern flank of the country.

Shell did not provide any guidance on the future of its stakes in Russian projects.

Benchmark oil prices soared to an average of more than $100 a barrel in the quarter, their highest since 2014, while European gas prices hit a record high.

The unprecedented volatility in commodity prices in recent months has pushed several traders to the brink as they scrambled to sharply increase downpayments for oil and LNG cargoes.

Shell, the world’s largest liquefied natural gas trader, said earnings from LNG trading were expected to be higher in the quarter compared with the previous three months. Earnings from oil trading are set to be “significantly higher” in the quarter.

Cashflow in the quarter would be negatively impacted by “very significant” outflows of around $7 billion as a result of changes in the value of oil and gas inventories.

Shell’s fuel sales averaged 4.3 million barrels per day in the quarter, down from 4.45 million bpd in the previous quarter, Shell said. LNG liquefaction volumes were slightly higher on the quarter, averaging 8 million tonnes.

(Reporting by Ron Bousso; Editing by Jason Neely and David Holmes)