High crude oil prices: perfect catalyst- exponential rise in gas prices
The price of LNG, liquefied natural gas, has gone up by over 100% since February this year and in the presence of such an increase, any hope of oil prices coming down at pumps just remains a distant dream. We have been told, both by irrefutable statistics and reliable analysts, that a recession is more or less cyclic - almost like the seasons in the northern and southern hemispheres; it comes about at fairly regular intervals, not necessarily being associated with human activities - good, bad or outright crazy. No expert, however, does say that the frequency of recession is entirely free from human activities; the recent forecasts of global economy as a whole grinding to a halt with a growth closer to zero is a case in point; in the realm of economics, two successive negative growths define a recession. In a matter of 3 months, the gas prices have gone up by almost 100%. The invasion of Ukraine by Russia has made the situation worse with no end - politically, economically or milita