
Salem’s Lot: an update on the Gulf War. Topics include international commodity price pass-throughs to the US, the limits of energy independence, Gulf temperatures and their relevance to US military options, the proposed Iranian toll on the Strait of Hormuz, the cost per payload of asymmetric warfare and our commodity price tracker. Also: the history of Presidential firings of senior US military officers, and a US fossil fuel reliance fever dream. Watch the video
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Home Alone: inflation and the new Fed chair; investing in China’s AI ecosystem; Prediction markets

Abandon Ship!

Fighting Words: The Energy Transition in 2026

Supply and The Mam
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