Locator: 48521ARCHIVES.
The big story today, without question, Google and the Mag 7+.
Headlines without links that caught my eye from an end-of-day scrolling through x. If this format increases the number of paid subscriptions to the blog, I may continue this format. Saves a lot of time.
- distillate and jet fuel contribute to record US petroleum product exports in 2024;
- judges continue to block efforts by Trump to cut costs; behind the scenes, he's winning way more than he's losing
- this is why presidents pivot to overseas issues in their second term; can't get anything done domestically; Trump will be much more successful; US Supreme Court will be overwhelmed if they have to sort out all these cases.
- Netherlands delays nitrogen emissions target, defying its own judges and the EU; buys time for farmers but tests the limits of domestic courts and EU environmental law;
- EU's rhetoric to make deals with "everyone else" because of Trump's tariffs won't work; no one else has the markets that the US has -- Trump knows this
- Europe faces "decisive moment" in energy security, Ursula von der Leyen warns that without action, twin threats of Russian sabotage and high prices will batter the bloc [spoiler alert: too late]
- Ursula von der Leyen is the president of the European Commission, a position she has held since 2019; prior to her current job, she worked for Angela Merkel's cabinet between 2005 and 2019;
- she will be around for a long time; she was re-elected to head the Commission in July, 2024;
- this assures that the economic gap between the US and the EU will continue to widen even if Biden is re-elected in 2028, something the Europeans are counting on.
- most prescient headline seen in a long time, from Barron's: at 94 years of age, Buffett is still top of his game; Berkshire Hathaway faces a future without him [well, duh]
- Iraq to send 220,000 tons of wheat to Syria as a gift [Syria used to be the breadbasket of the Levant -- the Levant does not include Egypt]
- Iraq and Syria comprise the breadbasket of the Levant;
- however, the al-Hasakah Governorate in Syria is more commonly recognized as the "breadbasket" due to its extensive fertile land and agricultural production
- the al-Hasakah Governorate now leads the world in turning plowshares into armored Toyota pickups.
- Haynesville gas production rises on better prices [who would have thought]
- everything is bigger in Texas;
- Haynesville is in Texas;
- so is Dak Prescott.
- Kansas City Fed Services data: incredibly good -- data posted by Liz Ann Sonders -- she had no comment; "never" does, but wow, she presents a lot of data and a lot of graphs
- once a huge supplier of natural gas, Iran now needs Russian help; Russian gas supplies to Iran could begin as early as 2025 [for Joe Biden: this is 2025, just saying]
- bad news for the EU if Russia ships natural gas formerly destined for the EU to Iran;
- really, really good news for operators in the Permian.
- reminder: US Dept of Education will resume collecting payments on defaulted federal student loans; those affected know that the Trump administration means business -- something these former students could blow off under the previous administration
- they say federal student loans outstanding may be as much as $1 trillion
- Elon Musk, Jamie Dimon, Warren Buffett, Jeff Bezos, Jerry Jones and a few other folks could pay off this $1 trillion debt if they were really serious about this problem;
- which reminds me, the second and third rounds of the NFL draft are scheduled for tonight. Later: Shedeur Sanders is still available to start the fourth round. Have we ever seen anything like this before? Asking for Tom Brady, the GOAT.
- the US Federal circuit courts, e.g., the Ninth Circuit Court, hears 40,000 cases per year. With 12 million illegal immigrants let in by Joe Biden, the Federal courts will be busy for 300 years if all they do is hear "due process" cases for these 12 million immigrants; my advice: if you want to get rich in this country, go to law school and become an immigration lawyer.
