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Gaslighting the Gas Market
President Trump is demanding that gas companies lower prices immediately. The problem is that gas prices aren’t set by presidential decree. They are driven primarily by global crude oil prices, refining capacity, inventories, taxes, and competition. This is reminiscent of President Biden blaming grocery stores and retailers for inflation. When prices are politically inconvenient, the temptation is always to blame the companies at the end of the supply chain. Oil prices have fallen sharply over the past week, nearly erasing the “war premium” that followed the U.S.-Iran conflict. But that drop appears to be driven more by market sentiment than by a meaningful improvement in supply. Commodity strategists warned Monday that traders may be pricing in an overly optimistic outlook while underestimating the remaining supply risks. During the conflict, the United States authorized the release of 172 million barrels from the Strategic Petroleum Reserve to help stabilize markets.
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Weapons of Mass Lobbying
Should a defense contractor get to enrich shareholders with stock buybacks while it’s behind schedule on taxpayer-funded government contracts? The House will debate exactly that question this week as lawmakers
No, Iran Didn’t Say That
The U.S. and Iran traded bombs over the weekend, despite ongoing peace negotiations. By Sunday afternoon, both sides appeared ready to climb back down the ladder. Several outlets warned that “Iran” now says
Let Them Bake
It’s hard to imagine worse optics. As much of Europe baked under a heat wave, the European Commission reportedly shut off air conditioning on the lower floors of its Brussels headquarters on
Editor’s Picks
UN Details Widespread Death and Maiming of Palestinian Children in Gaza
The United Nations published a horrifying report detailing the wholesale slaughter of Palestinian children by the Israeli military. The numbers are shocking and the stories are a nightmare. You’ve been warned. The report estimates that at least 20,000 children have been killed and 44,000 wounded between October 7, 2023 and October 7,
Senate Discovers War Powers
The Senate finally found its backbone on Tuesday, voting to limit President Trump’s ability to wage war against Iran without congressional authorization. How brave. Not before the bombs fell. Not before the world held its breath waiting to see whether the conflict would spiral into a regional war. Not before lawmakers spent
War Outcome Reality Check
President Trump is threatening to sue The New York Times after it published a piece titled, “What Changed After Almost Four Months of War? Analysts Say Not Much.” Trump’s response? He accused the newspaper of publishing “FAKE & MADE UP ‘FACTS,’” called its reporting “TREASONOUS,” and vowed to add the story to his multibillion-dollar lawsuit, declaring, “They are
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