Finance
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Trump’s war in the Middle East may end up a global boon for renewables, as think tank calls return-to-coal narrative ‘meaningless’
The global energy shock stemming from the conflict in the Middle East is rewriting the ways governments think about their power needs. Big Oil has predictably emerged as an early winner, benefiting from soaring oil and gas prices, but the long-term upshot could be faster dispersal of an altogether different energy source. Despite negotiation attempts…
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New York governor’s take on a millionaires tax: fancy pied-à-terre second apartments worth over $5 million
For months, New York Gov. Kathy Hochul has resisted calls to increase taxes on the wealthy, beating back progressives who have hounded her from Manhattan to Puerto Rico bellowing chants of “tax the rich.” Now she is pitching a compromise. The moderate Democrat says she will push to create a new tax on multimillion-dollar second…
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China’s economy grows 5% in first quarter, surprising economists to the upside
China’s economy accelerated in the first quarter of this year, expanding 5% from a year earlier as it largely shrugged off impacts from the Iran war so far, according to data released Thursday. The January-March data released by the government, covering a period during which the Iran war began, was better than what economists expected and was up…
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Everyone was wondering what Trump wanted more: Warsh smoothly seated at the Fed, or for Powell to pay. We now have an answer.
Ever since Trump announced that former Fed Governor Kevin Warsh was his nominee to lead the central bank, there was a question: Would Trump now end his feud with current chairman Jerome Powell (whom he also nominated in 2017) to clear the path for a shiny, new face behind the podium? It seems not. The…
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Current price of oil as of April 16, 2026
By 8:15 a.m. Eastern Time today, oil had reached $97.06 per barrel, measured using the Brent benchmark. That’s 23 cents more than it cost yesterday morning and about $31 above its price a year earlier. Oil price per barrel % Change Price of oil yesterday $96.83 +0.23% Price of oil 1 month ago $104.19 -6.84%…
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Why no nation is truly ‘energy independent’ while the Strait of Hormuz remains closed
Marine traffic leaving the Middle East has again dropped from a trickle to barely a drip. This comes after a decision by the U.S. to blockade Iran’s ports in response to threats by Iran to attack energy exports it hadn’t approved leaving the critical Straight of Hormuz chokepoint. As Asia struggles with energy shortages that…
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The Iran war’s fertilizer shock is hammering American farmers and 70% can’t afford what they need for this year’s growing season
With the planting season ending in six weeks, skyrocketing fertilizer prices are forcing farmers into an impossible choice: cut back and lose crop yield or stay the course and lose money. A survey published Tuesday of 5,700 farmers conducted by the Farm Bureau shows that around 70% of farmers are unable to afford all the…
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Oil prices may be falling, but for the wrong reason: a ‘demand destruction’ throttling global consumption, report finds
Oil prices are beginning to fall from their March peak, but policy experts warn sinking energy costs don’t necessarily mean the global economy has stabilized as the Iran war continues on. A report published by the International Energy Agency (IEA) on Tuesday noted the threat of “demand destruction” as consumers and global economies turn away…
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Trumpflation hits the World Cup: Fans face $80–$100 transit fares on top of $4,000-plus tickets
In an economy squeezed by tariffs, elevated fuel costs, and stubborn inflation, the FIFA World Cup was supposed to be America’s summer triumph. For millions of fans, it’s shaping up to be something else: a financial gauntlet. Before they cheer a single goal, many will face $80 to more than $100 transit fares, $4,000-plus tickets,…
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Fed Chair nominee Kevin Warsh is worth more than $100 million and has stakes in SpaceX and Polymarket
Kevin Warsh, President Donald Trump’s pick for the next Federal Reserve chair, is worth more than $100 million, according to a financial disclosure report released by the Office of Government Ethics (OGE) on Tuesday. Warsh will testify before the Senate at a confirmation hearing on April 21. It’s customary for nominated political appointees to submit financial…