Members only Energy Featured Aluminum Costs 70% More in America Than Anywhere Else. The Smelters Still Won't Come Back. The Midwest premium is above a dollar a pound and America's most famous idled smelter just became an AI data center. The tariff wall raised prices, not production — the power auction explains why.
Infrastructure Featured Voters Just Rebuked the Data-Center Boom. The Senate's First Response: Build Faster. The first major vote after the midterm wipeout was a 73-25 move to fast-track the biggest permitting overhaul in a generation. Who wins, who pays, and why the lame-duck clock is the whole story.
Members only Energy Featured The Rare Earth Truce Had One Day to Live. Beijing Gave It Two Months. China waited until 24 hours before expiry to extend the suspension of its October 2025 rare earth export controls — and only until January 10, 2027, the same day the tariff truce ends. Every U.S.-China deadline now converges on a single date.
Members only Geopolitics Featured The 1.5°C Era Is Over. The Fight Over Who Pays for What Comes Next Starts Monday. COP31 opens Monday in Antalya as the first climate summit of the overshoot era: the 1.5°C target is gone, the U.S. is out of Paris, and a $7.5 trillion finance gap is the only agenda item that matters for markets.
Markets Featured The First Thanksgiving Without Spirit Airlines Will Be the Most Expensive in a Decade Thanksgiving airfare is at a decade high and bookings are falling. Crude just crashed 15% on peace talks - and airlines say your ticket won't follow it down. What Spirit's collapse in May really took out of the market.
Members only Energy Featured Why Data Centers Are Buying Old Jet Engines Gas turbines are sold out to 2032 and prices are up 50% in a year — so data centers are bolting retired jet engines to concrete. Inside the first quarter where the scarcity trade blinked.
Paid-members only Energy Featured Uranium Has Never Cost More. The Miners Are in a Bear Market Anyway. The long-term uranium price just set an all-time record at $96.50 a pound. Uranium stocks are down 20-60% anyway, and the Sprott trust trades 12% below the value of its own metal. Cameco reports tomorrow - one side of this trade is wrong.
Members only Geopolitics Featured The Students Won Serbia. The First Deadline Is Friday. A student-led movement just ended 14 years of one-party rule in Belgrade — and inherited a sanctioned Russian-owned oil company whose US waiver runs out Friday, Europe's most contested lithium project, and a stack of state megacontracts it has promised to reopen.
Infrastructure Featured San Francisco Tried to Buy Its Grid. PG&E Sent Back a $22.5 Billion Invoice. PG&E says San Francisco would owe $22.5 billion to take over its own grid — more than six times the city's estimate. The gap is really an exit fee, and the ruling on it will decide whether any American city can afford to leave its utility.
Infrastructure Featured Your Electric Bill Is on the Ballot Capacity prices in America's largest power market are up more than tenfold in three auctions, data centers are the reason, and one week before the midterms both parties are running against them. The grid is now a ballot issue.
Paid-members only Markets Featured The Benchmark That Prices Oil at Sea Is on Trial October was the worst month ever recorded for tanker attacks in the Strait of Hormuz — and a London court is now deciding whether eight months of the world's benchmark supertanker rate were invalid. What it means for the tanker trade, and the two November dates that matter.
Markets Featured $PBR: The Market Priced In a Bolsonaro Win. Lula's Fourth Term Erased $34 Billion Before the Open Petrobras ADRs are down 21% premarket after Lula's shock runoff win. The dividend formula, the fuel-price gap at $110 Brent, the November 10 date, and the scenario zones.
Members only Energy Featured Why Is America Importing Russian Diesel? A Russian tanker is steaming toward a US port, Washington is lending out a third of its emergency heating oil reserve, and retail diesel is above $6 a gallon. The crisis isn't crude — it's refining. Here's what that distinction is worth.
Paid-members only Geopolitics Featured Who Gets Paid When Venezuela Reopens? Maduro is awaiting trial in New York, Washington owns 35% of a Barbados-registered oil venture, and more than $100 billion in defaulted claims is lining up behind every new barrel. The queue — not the oil — is the trade.
Members only Energy Featured Oil Found a Way Around the Strait. Helium Didn't. Qatar's helium — a third of world supply — has been locked behind the Strait of Hormuz since March, and the industry now concedes it won't return before 2027. The winners aren't the stocks you'd expect.
Members only Markets Featured The Biggest IPO in African History Is Being Sold by Text Message Dangote's $1.6 billion refinery IPO was covered within hours — yet it's staying open until October 27. The real project isn't the raise: it's building the rails for ten million shareholders across 51 countries.
Paid-members only Markets Featured $SAFX: The Merger Closed, the Stock Fell 62% in Three Weeks, and the Nasdaq Clock Runs Out December 7 XCF Global closed its three-party merger and the stock fell anyway. The real story: a ~598 million share count, $329,084 of cash against a $137 million defaulted loan, a reverse-split vote, and a December 7 Nasdaq deadline.
Members only Geopolitics Featured Missiles Are Hitting Aramco. Why Isn't Oil at $150? The Houthis struck Saudi Aramco's headquarters this week, Riyadh's airport is closed after the deadliest attack on Saudi soil in a decade — and Brent sits near $105. What the calm price is actually assuming, and the three scenarios that break it.
Members only Energy Featured Uranium Says Boom. Nuclear Stocks Say Bust. Which Market Is Lying? Uranium term prices hit a nominal record while Oklo, NuScale, and Centrus lost half their value. The divergence between the physical market and nuclear equities is the most important signal in commodities right now.
Members only Markets Featured The World's First Global Carbon Tax Is 52 Days From Its Last Vote On December 4, the IMO votes again on the Net-Zero Framework — a $380-per-tonne carbon price covering 85% of global shipping emissions. Washington killed it once. The fleet-by-fleet winners and losers if it survives.
Paid-members only Markets Featured Silver Hit $121 in January. The Shortage That Took It There Is Gone. Deutsche Bank says the physical scarcity that drove silver's record spike has flipped to ample supply — and could become outright surplus by 2027. The repricing map for the metal and the miners, inside.
Paid-members only Energy Featured The Battery Recycling Gold Rush Just Went Bankrupt America built an industry to break its dependence on Chinese battery metals. Then the metals got cheap — and the recyclers went bust. Who ends up owning the capacity, and how to position for the turn.
Members only Energy Featured A Data Revision Crashed Lithium 22%. China's Biggest Mine Is Still Shut. Lithium carbonate just hit its 2026 low — not on new supply, but on a stockpile restatement that doubled China's reported inventory overnight. Meanwhile the mine behind the whole rally lost its environmental approval again. One of these moves is temporary.
Markets Featured Eight Justices Will Decide Whether a Jury Can Price Climate Change The Supreme Court opened its 2026-27 term with Big Oil in the dock: Suncor v. Boulder County could extinguish dozens of climate lawsuits or send them toward juries -- and Justice Alito's recusal makes the math harder for the industry.
Members only Geopolitics Featured The Middle East's Last Open Chokepoint Is Now a Battlefield Hormuz has been shut for seven months. On Monday, Saudi-backed forces retook the coast around Bab el-Mandeb — the strait carrying 12% of global trade — and three armies agreed to deploy. What reopens, what escalates, and how to tell which is coming.
