smell stucco from one generation of those houses. 0 is the theme, the grapes, the size of the system has no for most painters of working class people. there is a difference between being able to participate in the system and actually being represented in the 5th generation change on al jazeera, the hello, the nora, kyle. this is counting the cost on out to 0, your weekly look at the world of business and economics. this week, oil prices, i've had 7 months high off the middle east, pensions and intensifies will. this might continue. and how will that affect the global fight against inflation. promising to end years of financial turmoils and pop way has launched a new currency backed by gold. when it help stabilize the economy and

hit by costs the boy costs in the middle east of the war on garza mcdonalds is now buying back of it, says wally restaurant the oil prices are at the highest level in some central bank. so keeping a close eye on the markets for the 1st time since october. brent crude, that's the international benchmark, top $90.00 a barrel last week that preston's the rise in gasoline prices in the us and elsewhere, we're igniting phase of the installation. the increase in prices has been driven in part by ju political tensions in the middle east. supplies shocks off to several output costs by opec and its allies also pushing up prices as well. the grids of major oil producers started slashing production in late 2022. saudi arabia is leading the latest round of costs bosses not alone. russia to wait on the united

arab emirates of also agreed to lower the output from april to june. the goal to level global supply and increase demand. oil prices average around $80.00 a barrel in 2023. the i m f says saudi arabia. nice price has to be above that figure to balance as bunch. it was a significant spitefully, no type of 7th, a tax, but eventually price is leveled off again despite the ongoing costs. now oil prices hitting the highest levels in months as around $90.00 a barrel. now some on the list expect oil prices decline even further at around a $100.00 by september. when oil prices go up so to just the cost of, of the commodities and that compose a problem both for us present joe biden. and for families struggling to make ends needs well, let's get stuck into this with male atkinson in london. he's an independent energy list and the full ahead of the oil industry and market division of the

international energy agency going to be speaking to you. now. first of all, we do need to mention that the time of recording this program, there's a lot of speculation that there will be an imminent yvonne attack on israel. so how is that family affecting oil prices? the more yes, there is a great deal to do, but to go speculation, there's no question of that. but my personal view, all this based on been based on following me least to politics and extra effect. an oil for many years is very unlikely that a ron is going to carry out any kind of operation, which is so enormous in scope that it would be considered as an actual. iran tends to play a long game. and well, there's no doubt the attentions of rupture do not following these really attacking syria. so far, at least, we have not actually seen any material reductions in file supply since the october 7th attacks. and since the most recent, right, you know,

for tensions but between the us new route. but how broadly due to physical tensions play into the oil prices. because it's not just in the middle east, that offense, a hot new boost to go in the will in ukraine. yes, of course. and initially following the russian invasion of ukraine, we saw a very, very law spiking oil prices, which has a material impact on global economies in 2022. but he never took re, things shuffled out of the true picture stops 3 much unable those sanctions have been imposed against russia. and we know how the g 7 price cap, the actual flu is avoided for russia. of not mid of not decline massively. it's not, there's not really the crime very much. i told they just moved from one market to another. so jim politics is always the fact that the october, the 7th of taxes, usead lead to a short time spike. we're seeing some tension. now we just put a new round of the us, so the tension is always that, but it is very, very difficult to fall into 5. how much of that means in terms of dollars

a barrel on the product you? so then of course, that brings us to the on the key factor, which is supply. and we see solid, the driving production costs to keep the price is high. all the other opec countries following suit. so the rate here is leading the cops as you quite rightly suggest i would come to such as the $90.00. edwards, i'm not actually fulfilling all of the bring with that. so they subscribe to bottom broadly speaking the ok plus the live study side. you're right. the, the opec mounted is plus russia o, broadly speaking, keep enough oil off the markets which take it into consideration along with the other factors in the market, such as defined a supply from other countries, means that there's a perception, the oil market is tightening. and that's one of the reasons why we're seeing price is higher than we've been used to. and, and we've built this so if you have a meeting in june of ministers from opec plus how much leverage to other countries

like the us and canada have of these production costs when we come to the sounds good coverage of cost. but so what we're expecting in the costs of, of 2024 is the production produced by companies in the united states will continue to grow the prime of production from kind of that will continue to grow as little production from brazil. and also from guy on it, and it's expected of my account kind of to for 2020 full. i would think that the impact countries will not be pushing more back into the market. initially. they'll want to see how, how strong the prices remain and for how long before they take any, any decisions. so increase price is a palm power result of high oil prices. this is how it's directly affected in one way to the consumer. this of course spells trouble, doesn't that in an election yet for the us present, joe biden?

yes, and we already have to go back to use to 2022, where we have a very similar situation where the market type in doubt. poppy, of course, due to the destruction following the russian invasion of ukraine. and of course, during 2022, the united states participated with all the countries and a very significant drawing down a strategic model stops partly intended to protect us consumers a pump in the run up to the midst of questions. and you can argue that the steps united states took did have an impact. but now we're in the presidential election year, and it's pretty obvious that the price is named remained a relative behind. it was possibly even got a big i, the us president will come wondering, know, most domestic political pressure to do something about that. and that could mean another reduction in the united states, the ged petroleum reserve. it could mean diplomatic pressure on the side here, ranger and all of us to increase that production. so it's a very tricky,

political position for violence would be in and, but we have been here before. i just lost the deal briefly if you kind of how oil price wise is likely to complicate efforts by central banks to cut interest rates. well, in your introduction, you refer to the fact that higher oil prices do feed into and consumer pricing just the oil is such an important component of many industries and by the inductor like to this is. so, you know, we have a situation where the face of the how the central banks will be looking very closely. commodity prices. and uh, you know, we're seeing in the united states that there's a very hot jump market. we're seeing a lot of job creation. and i would think that the elevated or more elevated world prices aren't going to get into effect in particular cost assumptions. and they may well postpone any our interest rate reductions that they might have been planning. okay, now, atkinson in london,

thanks so much for joining us. here on counting the cost. thank you. now, gold has been on a roll in the past 2 months, hitching a series of records. the precious mouthful rece mold in $2300.00 per ounce last week. rising by mold and 12 percent this year. now the increase in price is driven mainly by china's gold buying spree. central banks mostly in emerging markets, are also buying up dodge amounts of gold in 2008. and bob weigh printed the now infamous $100.00 trillion dollar bank note inflation was at 500000000000 percent back then. this is and bob way dollar and loss, nearly 80 percent of its value in response to central bank has introduced a new currency called some public gold or zinc box by gold. it's aimed at stabilizing the economy and bringing down prices. but what it, what hi, latasha reports from her. all right?

these do tend to say some customers are no longer accepting these installation. it's that they're waiting for the bobbies new car and see the notes to hit the streets at the end of april. that means people are stuck with cash that will soon become useless. i know this is the last wish day. this is not a good, you know what did a good, but not wish. eventually, those are in huntington woods. the country central bank governor says the music notes will be best buy gold results and foreign currencies does equal to places and bobby, and dollar that his last 3 quarters of its value so far the see a public reaction, the box and you currency is mixed. but some of the bobby's optimistic, i think it's a good news. which government has done to kept the inflation rate. i think it's going to be for the better, but we haven't seen it in take collision yet. the lobbies have a history of mistrust with the central bank. many people and businesses prefer to

use foreign currencies for transactions. for example, fuel is sold in us dollars. the easiest way of trying to build confidence, broken confidence, is from government to make sure that's good to cost services and the goods which i've had in the market should be paid in is it? and that way, no one would reject it because it is what they say that they have a value weight is going to be accepted. the government says over printing will not be allowed to happen again. but people have heard that before the above his car and she has changed several times over the years. here are some of the original notes from 1980 when the country gained independence from britain and over the years because of the can on big instability, anti inflation, the notes of change in design and in value. these are the ones people are using now, and these nose will eventually be replaced by this big note when they come in to circulation in place for teams and bobby,

and hope to use the car and see was stabilized. all they can do is wait and see if it works. well. several countries have launched new currencies in recent years. venezuela introduced new boulevard notes back in 2021. at the height of a dia, financial crisis, they featured 6 fuel zeroes, intended to ease cash transactions, a bookkeeping the following year. and i, jerry and lawrence new nara bills to help manage inflation and limit money laundering impacts donna's looking through the same. it tends to gradually introduce bank notes to enhance security and prevent counterfeits to well joining us now from the little while and then pop way is prospect chism bar. he's a development economist, i'm senior research for the labor and economic development research institute for the public good to have you with us. the think it was introduced to you know, the days ago it wasn't that don't seem to have had quite a cale takes thoughts with many of having not to be ready for the switch. what are

your feelings about this new current say? well, i think i may, it's a, it's, it's a new start. it's a, it from a new got been a and say, we all course that's the optimistic that said it quote, probably as solve the problems of sustainable growth in my mind to supply was that seek is going to be linked to the reserves of gold in united states throughout the country it's so it's not going to implies is that an increase in is seek minus apply. yes, to be supported by an increase in the supply of the board reserves or united states dollars. and the central bank is also a schwab, the nation. that's a from now on, there would be no more pass. this is called activities. so it is uh uh, activities that the central bank is been doing in the past, but that's not true. it is no central our big king effective it is. so we are

hoping that if they're able to show up the top in terms of cutting it big on that and also even on the out of these it say, or by the facility to the government. i think that's who dale to contribute to stability. okay. in terms of what i think, what i mean, this is simple boy 6 attempts to have a functional local currency. why does it keep collapsing? what is it the house of the problem? the problem is been the crony kind pollution. so as in bob good is being a fixed it by 20, by inflation a for the grid up parts of the last it to a decade in the coney kind position is been as it is out of fed, my legal discipline in terms of our all we manage all month the system is, or there has been unsustainable growth in the money supp line, which is closed, excess demand in the economy day by pushing up the price as

a basic goods and services. this situation is what makes a lot that recall so much money choosing tool fuel goods. so i think that's been the cuts. so the meta and a lot in our ability to control a sustainable growth in mind. stoplight and also to keep public spending with then that billable resources. and the trouble is that money's and bob wins. don't trust the central bank to have a cannot make discipline that trust that it's not going to print, accessed money again. so it seems that most people, reggie, it's sticking to the us dollar. the challenge i think is a city of trust and confidence deficits. not just in the local currency, but also in the key economic institutions. in particular, the central bank, the following is a 5 and for us and fix a we have suffered from 3 bottles or episodes or 5 and pollution in the past. so i'm guessing that is pick the day the confidential. if you're going to be agent, say, in the central bank and also in the local currency itself. so why should this currency

be any different? and i think, you know, the fact that say we are linking money to supply which is in which has been a major problem and we are leaking that money stoplight. so the reason that we have plenty if that's good to help, to really meet a minus up my roof and oh, saving to limits and how much is actually provided to the central bank through the all by dr. positivity. so once we're able to deal with that problem of unsustainable growth in mind, it's upright, doc should help to provide some type. it's popularization in terms of the exchange rate, which has been the kids i, the, or the, or the, or the i inflation. a lot of people will be watching. i'm waiting to say if that happens, prospectors and borrow money banks. indeed for joining us now, the un it says to don's civil war has closed, the world's largest displacement crisis since fighting for account between the army

and the time of 2 rapids support forces. nearly a year ago, millions of people have been forced from their homes. most of them shows of food, and hundreds of thousands have fled to neighboring countries. malcolm lab reports from a transit comp himself to john's bought a town of rank. every morning, selma adam sends her granddaughter to maya to try and sell some of the few remaining items of clothing. there aren't many buyers in this transit camp in south see don golden hall familia. and people have arrived here in the last year. things to don civil war. most everyone struggling to get by the sale means to minus somebody will eat today. they said fighting in c times capital cost 2 months ago to my father died soon after arriving here and left selma to look off to her grandchildren. the money to use it and i got a phone kind of to you. what is the current after we arrived here?

we took my son to the hospital. he'd been in for months without any treatment. and he became lost on the johnny of to 5 days in the hospital. he died. i was told to come here and register 6 months ago. there was no market here. many of the traders themselves have to flee the fighting, and they set up stands to sell food to the growing population of displaced people. but everything here is from seed on the, on the, in the grown, the lentils rise old, transported here. and because of the war, the price is just keep going down. the south to them is economy depends on they know the neighbor, the ex posting it's will, i'm for imposing manufactured products here in the town of rank. don't keep costs spring goods from the pool to all the possessions and stays on the run. such as estimate c times economies, contract it by about hoff since the war began. that's a problem for those countries. these going to be

a continuation of this permission on destitution in votes. so don, us, when i can solve it so that we made rece relapsing back into see one way to talk to them. i said he is out of man of everybody economy, which has consequences on the ability of the government to run a fast, but also in the ability of society to quite exist. many of the displaced people arriving here originate from south suite on the set civil war here. yes. before went to cost team seeking jobs. some come from ponce's south seat on that still have arms conflicts. other barriers have suffered, consecutive years of flooding, collecting fine with the salaries one a few ways people can afford food in the camp. everyone has fed one country that is no longer safe under life than another where it's increasingly hard to survive. the war on garza has caused more than $18000000000.00 in damages to critical

infrastructure. the scale of devastation across the strip is unprecedented. reports by the world bank of the united nations says most of the destruction has been to housing units, health centers and education facilities. it's one of the most detailed financial assessments. yet. the report shows the damage equals move ins, 97 percent of economic output from the field supplied west bank and gaza in 2022. the widespread destruction is also complicating a delivery with more than 90 percent of main roads hits and communication significantly limited to consume is protesting against the wall on gauze with the wallets. several western brands are paying the price of boycott, sorry for that to save supports. israel, amongst them mcdonalds, which has been criticized for offering free meals to israeli soldiers. that's his box boy cuts in the middle east, malaysia, indonesia and from some adult is buying back. it's the 2 year old is really fun

sized pulling a slum in global sales on mcdonald says is reached to deal with franchisee alone, yell to baton $225.00 restaurants. but the financial terms have not being disclosed out of the west. and brands, including starbucks. i've also seen boy called campaigns. the chain of coffee shop says lang of thousands of employees the plays and it's brought to is across them. at least the push as part of a launch, a boy investment and sanctions, or b b s, campaign. but targets as well. funds the brands since 2005 to what to any is now from ramallah in the occupied. westbank is somebody i'll block me. she's an assistant professor in economics, a busy university and a campaign of for the b ds may have been great to have you with us somewhere and took the boy coats really impact mcdonald's that much. and will this move to bias is riley punches, make any difference. and reports from donald say no to that to basically it

is say is targets have not been met? so they had been the projection of the 515 series targets for the 4th quarter, 2023. and they only managed to get to old point 7, a growth rate. so and yes, a very blankets have been an effective. and so it seems at the sales and that the news, all the mcdonald's that have been hit the stock price and decided that to independence company with those has moved to a buyback. the french jersey in italy pretty cents. and in move to try and save the brand a twin and have an inbox in terms of just stopping the white glove. if mcdonalds actually it goes all the way to and with the strong and that is a, the market. so,

and we do not expect the blankets to stop by the fact that is the parent company, mcdonalds, just boots back there in the franchise, the, in, in, inside. okay. a pdf, the movement that you'll come painting with. it's been around for a number of years. how have you seen it grow, and since, as well as long casa, is, has good one, the substantially, there has been a lot of the boy called so either is there any companies or companies and that are involved in the supporting subclass, the colonialism. so the campaign has a in has been marketing fine because it's american is in woodbine individuals, the civil society organizations and companies and so on can actually continue with the, in the process of ending colonialism and the genocide. oh god. so how does basically expose in space the rest of the world and the dead for the poles of the wall,

then it companies, it can nomic markets have been they seem to this ethical this. and so we have been seeing get a growth in terms of investments from companies in terms of positive voice calls in terms of the economic sports. boy, how concerned are you though with companies being on finally targeted because mcdonnell says, but it's this made by what's it cause of this information campaign that it's taken sides in this conflict? how's it's taking sides? it's franchise and is that it has big inside? yes, it has, it's been supporting and soldiers that, that have been committing genocide. so this is a blog, is a very blog is situation of taking sides. and of course i am. those

has called that switch this with it's, it's franchises around the world and therefore it is responsible for and in a way, making sure that it's name is not implicated or a complicit in the process of supporting the crimes. and this is why i think about the world's has made this move all at purchasing back . it's the franchise the in is uh yes, i do not think it's enough. and i don't think the board books will stop just because the management of the franchise decides the franchise of change. okay. can you call me? i can be jumping to of submit because cleared the boy taught, does have an impact on brands boosting mcdonalds reacting to it already. but it also has an impact on thousands of workers who lose that job. so how do you reconcile that? and this is always the question that's been targeted. that boy,

thoughts in the south african case in the indian case in all cases with colonial isn't, was this the apartheid was, is this the to boy glove? and we do believe, i mean this is what the city pro is, but you also think it's relevant to our times at no, cause would it be able to actually make up for these and phone and mark to national companies locally. so, and in all cases, these jobs last will be actually met by local companies to be springing up and, and providing these jobs. now this is from an economic perspective, but strongly political, ethical perspective. and i think in the fight against the colonial is in subject put on you to them a part time racism has a cost. and this cost is, is ethical in the sense that we cannot really accept forms of oppression because

we do not want to lose our jobs for us is by this thing is and this was also the case in south africa and we have, it always said you know, board quotes all eh, go to commodities, that's model calm palestinian work is a, i'm not an issue for palestinian somebody at all, but my great to speak to thanks very much for joining us. that from ramallah. thank you. last is all show for this week. do get in touch with us on x, fully known as twice a day. use the hash tag h h c t c. when you do on top of an e mail counseling, the costs at all, just the dot net is a direct. and that's more if you online at, out to 0 dot com slash c t c. that'll take you straight to our page by the individual reports links and, and try other sites for you to catch up. that's it for the suspicion of counting

the cost. i'm nora, kyle and from the whole team. thanks for joining us. news analysis era is that the to nature's biological rhythms, he's the percentage ultimate but this is not to, it's countless killing works of ality official light, allowing industrialized agriculture defies seasonal and geographic constrains witness shed slice on the impact of emerging cultivation on the natural world. to which we even know sleepless bags on our own, $20.00 listings in the gaza strip as is continues. there's a deliberate mission of posting in humanity in western media. and it needs to be questioned, sustain coverage, that actively humanizes as readings and actively humanize of palestinians. this is

not the time for doing this kind of weight. tracking those stories, examining the journalism and the effect that news coverage can have on democracies everywhere. here at the listing past, the challenges here with the

the hello and so rahman, you're watching the old is the news out live from the hall coming up in the next 60 minutes is roland is ups. hundreds of missiles and drones launched by iran in an unprecedented attack. the, the strike zone celebrates intern from the government says that they were in response to israel plumbing of its conflict in syria. 2 weeks ago. international kohls grow for restraint, as, as well as prime minister benjamin netanyahu. and his.