We should all be expecting the price of oil to continue to rise, as the Strait of Hormuz remains closed. Global oil supplies are being hindered, and if the cost-of-living crisis wasn’t bad enough, it looks like it’s about to get much worse. Crude oil, gasoline, diesel, jet fuel, natural gas, petrochemicals, power, and fertilizer prices have all risen sharply since the conflict began. The narrow shipping lane, known as the Strait of Hormuz, between Iran and Oman, remains closed. This lane is the one through which around a fifth of the world’s daily oil and liquefied natural gas (LNG) supply passes. The…
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Not to frame this in too much of a Peoplenomics / deep-thinking manner, but there are two ways one can generally view the world. And since I left the world of “tearing down the overnight wire” tasks, even before RSS appeared, that’s likely a good value proposition to ponder.Not just now…
Shipping turmoil escalates as multiple vessels (at least six) were struck overnight Brent crude oil prices top $100 amid “the largest supply disruption in the history of the global oil market,” the IEA reports. Energy Secretary Chris Wright says the US Navy is not yet ready to escort tankers through the Strait of Hormuz,…
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As Mark Thornton has detailed in his brilliant book, The Skyscraper Curse, Austrian School economists’ unique theory of the business cycle has given them a distinct advantage in foreseeing oncoming economic crises: from Ludwig von Mises’s 1920s predictions of looming bank failures, to Thornton’s own 2004 warnings of the housing bubble and…
A military inquiry has faulted the United States for the destruction and massacre of a girls’ school in Iran during the initial bombings in Minab. Previously, Donald Trump tried to blame the school’s destruction on Iran, claiming Tehran hit the school with a U.S.-made Tomahawk missile. Trump Said Iran Bombed…
Key Takeaways New York lawmakers proposed legislation requiring graphic warning posters in gun stores and with firearm licenses. The bills, Senate Bill S9334 and Assembly Bill A10485, aim to address health and safety risks of firearm ownership. Gun stores must display these warnings clearly, with penalties for noncompliance reaching $10,000…
Key Takeaways Fear alone can’t justify deadly force in self-defense; belief in imminent danger must be reasonable. Lesson 5 of the 36 Lessons for Armed Defenders emphasizes the importance of reasonable belief in self-defense claims. Real-life cases illustrate how complicated self-defense situations can become when analyzed later by courts. Jurors…
Key Takeaways A homeowner in Somerset Township shot and killed an alleged intruder early Sunday morning during an attempted break-in. The incident occurred around 2:05 a.m. when loud banging and a demand for entry woke the homeowner. After warning the intruder that he was armed, the homeowner shot the man…
The Federal Bureau of Investigation (FBI) has warned the authorities in California that Iran has planned drone raids. These will be launched from an unidentified vessel off the West Coast, according to an alert reviewed by United States media outlets. Launching a War on Iran Was No Act of Courage…
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Again, AI offered a warning to me about column length: “The piece has at least five columns’ worth of ideas trying to ride in one wagon.” Yes, perhaps so. But that’s the Muse for you.No, we are not going to share the 40-page ChartPack posted for Peoplenomics.com subscribers. But we will…
This article was originally published by Tyler Durden at ZeroHedge under the title: Hegseth Warns “Most Intense Day” Of Operation Epic Fury Imminent As IEA Plans “Largest-Ever” SPR Dump The most significant development in the Strait of Hormuz on Tuesday was the start of IRGC naval mining operations, which were…
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