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Economics

The World’s Energy Shock Is Already Under Way

The world’s energy problem is no longer a shortage of oil. It is the steady erosion of the buffers that once absorbed geopolitical shocks. From shrinking US strategic reserves and Europe’s dependence on Russian LNG to refinery attacks and tightening diesel supplies, the global energy system is becoming less resilient and every new crisis carries greater economic risks than the last.

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United States

Trump Is Burning Through America’s Last Oil Cushion

Trump’s drawdown of the Strategic Petroleum Reserve reveals a more serious weakness: America’s shrinking margin for another Gulf crisis. With the reserve less than half full and refineries dependent on the right crude mix,…

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Iran

Trump’s Iran Deal Is an Armed Escrow, Not Peace

The US Iran memorandum does not end the conflict. It moves the war into a colder arena of sanctions, shipping, insurance, Lebanon, nuclear sequencing and the Strait of Hormuz.

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