CDC Says 98 People Sickened In Norovirus Outbreak On Royal Caribbean Ship

Authored by Jack Phillips via The Epoch Times (emphasis ours),

An outbreak of norovirus sickened 98 people on a Royal Caribbean cruise ahead of its final destination in Miami, said the Centers for Disease Control and Prevention on Sept. 30.

Royal Caribbean Cruises liner Serenade of the Sea leaves the access channel from Le Havre harbour, France, on May 8, 2019. Jean-Francois Monier/AFP via Getty Images

The outbreak on the cruise line’s Serenade of the Seas was reported to the health agency over the past weekend. Around 94 passengers onboard the ship reported being ill, along with four crew members.

More than 2,700 passengers and crew members are on board the ship, the CDC says. According to a cruise tracking service, the Serenade of the Seas departed San Diego on Sept. 19 and is slated to arrive in Miami on Thursday, as it made stops in Mexico, Costa Rica, Panama, and Colombia.

The “causative agent” was listed by the CDC as norovirus, a group of viruses that can cause severe diarrhea and vomiting. The primary symptoms listed by the agency on the ongoing outbreak were vomiting and diarrhea.

In response to the norovirus outbreak, Royal Caribbean said that it will increase cleaning and disinfection procedures on board the ship, collect stool specimens for testing, isolate crew and passengers who have symptoms, and consult with the CDC on its procedures and reporting cases to the agency.

Responding to the CDC’s report, a spokesperson for the cruise operator told The Epoch Times on Thursday that “the health and safety of our guests, crew, and the communities we visit are our top priority,” adding that the company’s staff “implement rigorous cleaning procedures, many of which far exceed public health guidelines.”

So far in 2025, there have been 19 gastrointestinal outbreaks on cruise ships. Fourteen of those outbreaks were caused by norovirus, according to the CDC.

An outbreak of the virus in July also impacted Royal Caribbean line Navigator of the Seas, which sickened 141 people out of more than 5,100 passengers and crew, the agency said.

Health officials say that symptoms of norovirus include vomiting, diarrhea, and nausea. The virus also spreads easily through contaminated food or surfaces, or through close contact.

Symptoms of the virus generally start 12 to 48 hours after exposure, the Mayo Clinic says. Symptoms such as vomiting and diarrhea tend to last one to three days.

While most people recover without treatment, some people—such as older adults or young children—have to seek medical attention due to dehydration caused by vomiting and diarrhea, the clinic also says.

The CDC says that there are around 2,500 reported outbreaks of norovirus each year, and the virus usually spreads when infected individuals spread it to others via direct contact.

In a normal year, according to the CDC, norovirus causes between 19 million and 21 million cases of vomiting and diarrhea, 109,000 hospitalizations, and 900 deaths across the United States. The virus is associated with about 495,000 emergency department visits, mostly in younger children.

“Norovirus can be especially challenging to control on cruise ships because of the close living quarters, shared dining areas, and rapid turnover of passengers,” the agency says. When the ship docks, norovirus can be brought on board in contaminated food or water; or by passengers who were infected while ashore.”

Norovirus can also persist on surfaces for days or weeks and is resistant to many common disinfectants, officials say.

Tyler Durden Mon, 10/06/2025 - 06:30

The Uncertain Future Of UK Oil And Gas

Authored by Felicity Bradstock via OilPrice.com,

• Labour is raising taxes and environmental standards on North Sea oil and gas while refusing to issue new licences, but insists hydrocarbons will remain part of the UK’s energy mix.

• Wood Mackenzie research suggests up to 14 billion barrels of recoverable reserves may remain, far higher than regulator estimates, fuelling debate over future drilling.

• The government is pushing for a just transition toward renewables while the Conservatives promise to remove net-zero requirements and maximise North Sea extraction.

Since the Labour Party came into office in the U.K. last year, many have wondered if oil and gas drilling will continue or whether we will witness an all-out shift to renewable energy. Prime Minister Kier Starmer has introduced stricter taxes on fossil fuel companies since coming into power, but has also said that oil and gas will continue as part of the energy mix for as long as it makes sense. So, as the investor environment in the U.K. North Seas becomes ever murkier, what can we expect?

In June, the U.K. government introduced stricter environmental regulations for fossil fuel companies with projects in the North Sea. Oil and gas firms must now account for the environmental impact of emissions from using or burning the fuels extracted. This follows a decision by a Scottish court earlier in the year, deeming the approval of Shell's Jackdaw and Equinor and Ithaca Energy’s Rosebank unlawful, meaning they required reassessment by the government.

While existing oil and gas projects can continue in the North Sea, albeit with companies paying higher taxes, the government has said it would not issue any new oil and gas licences, as it invests in a shift to green. This marks a distinct move away from the energy policy of the previous Conservative government, which strongly backed U.K. oil and gas operations. Oil and gas companies operating in the North Sea are taxed at around 78 percent, including the Energy Profits Levy introduced in 2022.

During his recent visit to the U.K., United States President Donald Trump discussed the country’s oil and gas potential. Trump said, “You have a great asset here, and we spoke about it: it’s called the North Sea.”

He added, “The North Sea oil is phenomenal… I want this country to do well, and you have great assets that you’re going to start using, I believe, under this Prime Minister,” addressing Starmer.

He said that his pro-fossil fuel agenda in the U.S. had helped drive down fuel prices and slowed inflation – even though fuel prices have actually risen since Trump came to office. 

In response, Starmer said that the Labour government plans to maintain a pragmatic approach to the country’s future energy mix, continuing to use North Sea oil and gas as required. He also emphasised the importance of reducing energy costs for consumers. Starmer said, “The mix will include oil and gas for many years to come from the North Sea – we’ve been clear about that for some time. But we also need to mix that with renewables, and it’s the mix that’s really important.” 

However, some believe that the government should be supporting U.K. oil and gas more strongly, as the North Sea still shows significant potential. The research company Wood Mackenzie recently estimated that there could be up to 14 billion barrels worth of recoverable oil and gas in existing North Sea fields, which is three times bigger than the four billion barrels estimated to remain by the U.K. regulator, the North Sea Transition Authority (NSTA). The analysis was AI-powered and assessed the “recovery rates” – the proportion of oil and gas that can be viably extracted from the fields.

The report stated, “If UK fields were able to match recovery factors from analogous global fields, an additional 9 percent could be recovered. If best-in-class recovery factors were matched, an additional 18 percent of recovery could be added… These scenarios would potentially add seven and 14 billion barrels of additional production, respectively, over the lives of the 100 largest fields.”

In contrast to the Labour government, the Conservative opposition recently said that it would remove all net-zero requirements on oil and gas companies drilling in the North Sea if elected. The party leader, Kemi Badenoch, said the Party has a policy of “maximising extraction” to get “all our oil and gas out of the North Sea”. This policy is aimed at driving down consumer energy bills. However, previous failures from the former Conservative government to reduce household energy costs have made many wary of the Party’s promises.

The current U.K. government has introduced an array of energy policies and financial incentives in recent months to support a green transition and aims to achieve the net-zero target by 2050, which was written into law by then-Conservative leader Theresa May in 2019. The government believes that diversifying the energy mix will not only strengthen long-term energy security but will also, ultimately, drive down energy bills.

The focus for many now is a just transition. Many in the oil and gas industry are concerned about what a sudden withdrawal from the North Sea will mean for workers and communities in the region. The government now has the potential to use the new investor interest in the green energy sector to support a just transition and ensure people do not get left behind.

Tyler Durden Mon, 10/06/2025 - 05:00

How Europe's Cities Have Grown Since 1975

Europe’s cities have changed dramatically in size and shape since 1975. Urban areas across the continent have sprawled outward, merging into large corridors of continuous development. This visualization, via Visual Capitalist's Marcus Lu, highlights the urban growth of major European cities, showing how population and settlement patterns have evolved.

The data for this map comes from World Population Review and Copernicus.

The Largest Urban Areas

Moscow leads as Europe’s most populous city, with over 12.7 million people projected by 2025. Paris follows closely with 11.3 million, while London ranks third with nearly 10 million. These cities have long histories of urban development and continue to expand, both in terms of area and density.

Southern Europe’s Urban Growth

Madrid and Barcelona have a combined urban population exceeding 12.5 million. Italian cities like Rome, Milan, and Naples also feature prominently, reflecting decades of steady growth tied to industry and migration.

Fast-Growing Second-Tier Cities

Several cities outside the traditional top three have seen striking increases in population since 1975. Madrid’s urban population nearly doubled from 3.9 million to 6.8 million, while Kyiv grew from 1.9 million to nearly 2.8 million. Birmingham saw the most dramatic percentage rise—from just 583,000 to over 2.7 million.

From Lisbon to Saint Petersburg, most of the featured cities experienced substantial population growth over the past five decades.

If you enjoyed today’s post, check out Ranked: European Countries With the Most Immigrants on Voronoi, the new app from Visual Capitalist.

Tyler Durden Mon, 10/06/2025 - 04:15

Germany In Shock: Merz's Media Show Vs. Economic Collapse

Submitted by Thomas Kolbe

The collapse of the German economy is now becoming visible even in the labor market. Yet instead of pushing for a political turnaround with deregulation measures and genuine relief, the federal government limits itself to empty rhetoric and media appearances. In Berlin, PR is mistaken for economic policy—propagandistic fragments are presented as proof of achievement.

It was a week of media presence for the Chancellor. Friedrich Merz staged visibility: speeches, press conferences, appearances on German Unity Day, and the first cabinet retreat at Villa Borsig. He even tackled the new swarms of drones—with emphatic rhetoric, as if these threats, according to panicked press reports, were undermining citizens’ trust in security and airspace control—and immediately called for border measures.

Had we not learned over the past decade that border control was impossible? Wasn’t this the mantra, particularly for the CDU, during the Merkel-era invasion crisis?

But never mind. It’s not just the borders crumbling due to political inaction and a lack of will to solve problems.

Rhetorically and Physically Present

Merz was omnipresent, rhetorically and physically. At the Unity Day ceremony in Saarbrücken, the Chancellor even attempted emotional bridges with the audience.

He invoked social cohesion, called for optimism and a “new beginning,” spoke of courage, initiative, and the challenges posed by autocracies, digitalization, and geopolitical change.

Germany, Merz said, stands in Autumn 2025 at a “decisive moment” in its history, a phase that may determine the nation’s future. Despite economic and security tensions, one must “look ahead with confidence and vigor” and strive for a “new unity” in the country. Citizens should not be paralyzed by fear but, like East Germans 35 years ago, dare their own new beginning.

What was meant as an appeal to the spirit of 1989 sounded more like empty morale-boosting slogans—subtle blame-shifting that puts the burden of the crisis on ordinary citizens.

Economically Bleak

The economic outlook is so grim that even Berlin’s normally insulated news bubble cannot entirely shield the Chancellor’s office from daily shocks in the German economy.

Mild Pressure, No Consequences

Fragments of criticism from Germany’s bureaucratic and union circles appear to have reached the Chancellor’s office. Industrial CEOs complain daily about ruinous energy costs. The grotesque regulations that strangle the country are conveniently ignored—they prevent the few innovative SMEs from becoming serious competition.

Yet when companies like Bosch cut 22,000 jobs, Mercedes scraps an electric vehicle project to return to combustion engines, and entire supply chains of basic industry vanish, political action is required.

But no one dares, even verbally, to strike at the root of this civilization-destroying policy—the green agenda shared by nearly all in Berlin, except the AfD. It embodies faith in centralized power in Brussels, paving the way for the “United States of Europe,” whatever its architects may envision.

Merz and Finance Minister Lars Klingbeil—the true debt kings of our era—seriously believe that pumping a few hundred billion euros into failing projects will get the country moving again. An intellectual bankruptcy, and more: proof of structural delusion—ideological and intellectual.

Laughable “Reforms”

Merz’s response to deindustrialization and social crisis is surprisingly simple: a few media appearances, the “Made for Germany” coffee sessions, or announcing a “reform autumn” should suffice to prove the economy is turning around. It’s always the public’s bad mood, according to Merz—the eternal grumbler who simply doesn’t appreciate the hard work of policymakers.

In material terms, this government achieves nothing. In the distant future, companies might receive modest corporate tax relief—a few billion euros, laughable compared to a federal government budget of over €520 billion next year. A two-year temporary depreciation? A trivial gesture.

It is particularly cynical when the government celebrates simplified car registration or a new bureaucratic portal as groundbreaking deregulation while the administrative apparatus continues to consume billions unchecked.

For context: the ifo Institute estimates the direct and indirect costs of Germany’s bureaucracy at around €146 billion annually—over three percent of GDP.

In a country with a state share beyond 50%, this is nothing less than a confession of impotence: a document of inaction, overextension, or deliberate planning by the government—results unchanged.

Old Political Tales

Merz and Klingbeil repeat old political fables: bureaucracy will be reduced by €16 billion, eight percent of personnel cut. Believers may rejoice. Meanwhile, debates have already started about building new bureaucracies to manage the massive subsidy flows favoring green and military cronies in coming years.

Talk of deregulation is just a slogan, a hollow phrase, compulsively repeated by speechwriters. Reality: thousands of new positions at local and state levels, sold as “employment success.” Welcome to today’s political parallel universe.

It is telling that during this orchestrated week, neither the planned inheritance tax increase nor the end of spousal tax splitting proposed by Klingbeil were mentioned. All of this is media theater—distractions, smoke bombs—meant to suggest the problem has been recognized and addressed. In reality, it’s political simulation perfected to emptiness.

Actual Situation

The reality for the economy and citizens is very different. Merz allows the ever-increasing, grotesque CO₂ tax to pass without resistance—a bow to Brussels. Citizens feel the impact at the checkout as prices surge across daily essentials.

Meanwhile, municipalities respond to the green regulatory-induced economic crisis with tax hikes: the minimum business tax rate factor nationwide rises from 200 to 280 points—a costly measure that will eliminate thousands of jobs.

Since 2018, mismanaged policy has eliminated roughly 1.3 million private-sector jobs while the state created over 420,000 new public-sector positions—spinning the debt spiral ever faster.

A genuine reform would have broken this deadly cycle. It would have had the courage to finally address the migration crisis—rather than delaying debates over the migration-related citizens’ allowance through semantic smoke screens and political procrastination.

Nothing but Hot Air

Given the government’s disastrous record, one wonders: can’t they, won’t they, or aren’t they allowed? Whatever the reason for this political paralysis, Merz is the archetype of someone who simulates work with remarkable consistency—omnipresent, loud, center-stage—yet delivers nothing but hot air.

We know this game: the classic stalling tactic, backed by Berlin-Brussels consensus on the ideological agenda: social restructuring, centralized energy control, a monitored financial system, and the installation of a censored public sphere.

The media plays, channeling the 1990s, embodied by a Chancellor whose social media team reproduces tone, posture, and content from a past era, are proof. The Chancellor’s office believes it can regain air superiority over narratives and public opinion. Repeated messages, intensified public broadcaster propaganda, European censorship laws—all aimed to silence dissent and relegate serious opposition to “far-right conspiracy theories.”

In summary, this orchestrated week demonstrates once more how the political-media complex buys time by scattering sand into critics’ gears. Time to prepare the actual “reforms” underway elsewhere: a digital euro as a capital control, a UK-style digital ID, and accelerated wartime economic mobilization against an imminent Russian threat.

If this is the promised “autumn of reforms,” buckle up.

* * * 

About the author: Thomas Kolbe has worked as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.

Tyler Durden Mon, 10/06/2025 - 03:30

Geopolitical Risk Rises Globally

According to a newly released report by Aon, geopolitical volatility - together with AI-related issues - was the fastest-growing business risk in the world. 

As Statista's Katharina Buchholz details below, geopolitical risk rose from rank 21 in 2023 to rank 9 in 2025 and, according to business leaders, is expected to climb further to rank 5 by 2028.

AI-related risks meanwhile were ranked 49th by the experts surveyed in 2023, before rising to rank 29 in 2025. They are projected to come in eighth in 2028.

You will find more infographics at Statista

Broken down by continents, Asia is to experience the biggest increase in geopolitical risk, with the indicator expected to rise from rank 11 to rank 4, above the global average, by 2028.

In Europe, geopolitical volatility is already hugely elevated in rank 6 of all business risk. This is still projected to further increase until 2028, according to experts, when geopolitical volatility is believed to become the third-biggest risk in Europe.

North America is expected to come in only slightly below the global average, while the situation is more relaxed in Latin America.

Overall, the biggest business risk in 2028 (as well as 2025) will continue to be cyber attacks and data breaches.

Other than between 2023 and 2025, 2028 will see more of a change in the top 3, with increasing competition moving up and replacing business interruption.

Tyler Durden Mon, 10/06/2025 - 02:45

Supplying Tomahawk Missiles To Ukraine Will Destroy US-Russia Relations, Putin Warns

Russian President Vladimir Putin has warned that any Washington decision to supply Ukraine with long-range Tomahawk missiles for strikes deep into Russian territory would irreparably damage Moscow's relations with Washington.

The warning comes less than two months after Putin met with President Donald Trump at a summit in Alaska, which sought de-escalation in Ukraine and was focused on improving bilateral relations. But now Putin is making clear that these relations could be destroyed, also at a moment the extension to the New START nuclear treaty has left some breathing room for nuclear negotiations.

"This will lead to the destruction of our relationship. Or at least the emerging positive trends in this relationship. So I'm saying what I think. And how things turn out depends not only on us," Putin said in a fresh interview with Russian journalist Pavel Zarubin, parts of which were widely published Sunday.

Image: US Navy

Given the Tomahawk missile has a range of at least 1,500 miles, it could potentially hit Moscow and offices of Kremlin leaders, unleashing the likelihood of runaway escalation toward WW3. This is basically what Moscow is now warning about.

Already the US has said it is assisting Kiev with long-range targeting, which has included daily drone warfare, sometimes reaching over 800 miles into Russia with strikes on energy facilities. Probably such intel-sharing had long been happening for years in the war.

Vice President J.D. Vance had last week indicated the US is looking into the European request to send Tomahawks, and the Kremlin has said it would be deeply surprised if the US took this step.

Still, Trump has voiced frustration with Putin, going so far as to call Russia a "paper tiger" for its inability to quickly and decisively defeat Ukraine.

Yet it should be remembered that Russia's actions are still only at the level of "Special Military Operation" and a full war mobilization has not been ordered.

Moscow has not revealed an intent to utterly destroy Kiev, and for the most part has not begun obliterating 'decision-making' centers, leaving open a chance for de-escalation.

Putin also last Thursday separately pointed out it was impossible to use Tomahawks without the direct participation of American specialists and thus any supply of these missiles to Ukraine would trigger a "qualitatively new stage of escalation."

"This will mean a completely new, qualitatively new stage of escalation, including in relations between Russia and the United States," Putin emphasized.

Tyler Durden Mon, 10/06/2025 - 02:00

Cracker Barrel Dumps Woke Agency Responsible For Logo Change Amid Exec Departure

Cracker Barrel has fired the marketing agency responsible for its controversial woke logo design, which the company quickly backtracked on after public outcry. 

A Cracker Barrel sign featuring the old logo outside one of its restaurants in Florida City, Fla., on Aug. 27, 2025. Joe Raedle/Getty Images

In an Oct. 2 statement, the company said that it was ending its relationship with California-based strategic and creative growth consultancy, Prophet, which had advised them on brand refresh initiatives - including the recent logo and restaurant redesigns that did not go over well, to put it mildly. 

The company also accepted the resignation of SVP Laura Daily, who had been with the company since 2012. 

"We are grateful to Laura for her leadership, including being a driving force behind the growth of our retail business during her tenure, and thank Cammie for the meaningful contributions and impact she made through her nearly a decade at the Company," said CEO Julie Masino.

Masino - who gets to keep her job, announced the new logo on Aug. 19. The following day the company's market cap crashed by nearly $100 million. One week later, Cracker Barrel announced that it would return to the old logo. 

"We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have. Our new logo is going away, and our ‘Old Timer’ will remain," the company said in a statement. 

Other corporate shuffling includes the promotion of Doug Hisel - previously vice president (VP) of field operations, who is now the senior vice president (SVP) of store operations. He has been with the company for 18 years. 

Meanwhile, former employee Thomas Yun is rejoining the company as vice president for menu strategy and innovation. 

"These changes to our organizational structure, along with new leadership appointments and promotions, mark a strategic step forward as we sharpen our focus on consistently craveable food and warm country hospitality," said Masino. "This transition reduces layers in the organization as we bring a hyperfocus on ensuring both every plate served and every interaction with our guests reflects the care and quality we stand for."

Customers at a Cracker Barrel restaurant in Florida City, Fla., on Aug. 27, 2025. Joe Raedle/Getty Images

As the Epoch Times notes further, President Donald Trump had also called on Cracker Barrel to give up its new redesign. Trump welcomed the switchback in an Aug. 27 Truth Social post.

“Congratulations, Cracker Barrel, on changing your logo back to what it was,” he wrote. “All of your fans very much appreciate it. Good luck into the future. Make lots of money and, most importantly, make your customers happy again!”

Cracker Barrel announced its full fiscal year 2025 financial results on Sept. 17.

The company reported $3.48 billion in revenues for the year, up 0.4 percent from the previous fiscal year. Net income was up 13.3 percent, while earnings per share jumped 12.6 percent.

“Many elements of our plan are working well and delivering results, as evidenced by five consecutive quarters of comparable store restaurant sales increases and 9 percent adjusted EBITDA growth in fiscal 2025,” Masino said. EBITDA refers to earnings before interest, taxes, depreciation, and amortization.

“Looking ahead, there is much to be optimistic about, and our teams are focused on getting back to the momentum we created last fiscal year.”

For fiscal year 2026, the company is expecting revenues in the range of $3.35 billion to $3.45 billion. It projects opening two new Cracker Barrel stores and shutting down 14 Maple Street units. Cracker Barrel acquired biscuit company Maple Street in 2019.

*  *  * THIS is a knife...

Tyler Durden Sun, 10/05/2025 - 23:33

Newsom Says Trump Is Sending 300 California National Guardsmen to Oregon

Submitted by Jacob Burg of  Epoch Times

Immigration protestors confront federal agents and California Army National Guardsmen in Los Angeles, on June 8, 2025. John Fredricks/The Epoch Times

President Donald Trump is sending 300 members of the California National Guard to Oregon after a judge temporarily blocked him from deploying the Beaver State’s guard to Portland, California Gov. Gavin Newsom said on Oct. 5. 

Newsom vowed to fight the move in court.

The White House on Oct. 5 did not immediately confirm the deployment. The California National Guard referred questions to the Department of War. A War Department spokesperson declined to comment.

In a statement posted to his website, Newsom called Trump’s mobilization of hundreds of California National Guardsmen to Oregon a “breathtaking abuse of the law and power.”

“The Trump Administration is unapologetically attacking the rule of law itself and putting into action their dangerous words—ignoring court orders and treating judges, even those appointed by the President himself, as political opponents,” Newsom said.

“The commander-in-chief is using the U.S. military as a political weapon against American citizens. We will take this fight to court, but the public cannot stay silent in the face of such reckless and authoritarian conduct by the President of the United States.”

Months ago, Trump federalized California’s National Guard over Newsom’s objection following protests in Los Angeles against Immigration and Customs Enforcement (ICE) agents.

A federal judge on Oct. 4 temporarily blocked Trump from deploying the Oregon National Guard to Portland in response to violent protests targeting immigration officers.

“This country has a longstanding and foundational tradition of resistance to government overreach, especially in the form of military intrusion into civil affairs,” Judge Karin J. Immergut, of the U.S. District Court for the District of Oregon, wrote in her order.

“This historical tradition boils down to a simple proposition: this is a nation of Constitutional law, not martial law. Defendants have made a range of arguments that, if accepted, risk blurring the line between civil and military federal power—to the detriment of this nation.”

U.S. District Judge Michael Simon recused himself from the case when the Department of Justice filed papers with the court accusing Simon’s wife, Rep. Suzanne Bonamici (D-Ore.), of publicly criticizing Trump’s plan.

Immergut was randomly assigned to the case after the recusal, a court clerk told Simon.

National Guard in Portland, Chicago

Portland’s ICE building has been the scene of nightly protests, and Trump described Portland as a “war zone” rife with crime and unrest. Trump also called Chicago a “war zone.”

Trump ultimately authorized the deployment of 300 Illinois National Guard troops on Oct. 4 to protect federal agents and assets in Chicago.

White House spokeswoman Abigail Jackson confirmed the deployment in a statement to The Epoch Times.

“Amidst ongoing violent riots and lawlessness, that local leaders like Pritzker have refused to step in to quell, President Trump has authorized 300 national guardsmen to protect federal officers and assets,” she said. “President Trump will not turn a blind eye to the lawlessness plaguing American cities.”

Pritzker accused the Trump administration of attempting to escalate tensions amid ongoing clashes between protesters and federal officers in the Chicago area.

“It is absolutely outrageous and un-American to demand a Governor send military troops within our own borders and against our will,” Pritzker wrote in an Oct. 4 statement. “They will pull hardworking Americans out of their regular jobs and away from their families all to participate in a manufactured performance—not a serious effort to protect public safety.”

Tyler Durden Sun, 10/05/2025 - 22:51

Missouri Governor Authorizes National Guard To Assist ICE Operations

Authored by Aldgra Fredly via The Epoch Times (emphasis ours),

Missouri Gov. Mike Kehoe said on Sept. 30 that he has authorized the state’s National Guard troops to provide administrative and logistical support to Immigration and Customs Enforcement (ICE) law enforcement operations in the state.

Missouri Gov. Mike Kehoe delivers the State of the State address in Jefferson City, Mo., on Jan. 28, 2025. Jeff Roberson/AP Photo

The authorization came in response to a request from the Department of Homeland Security (DHS) to the Department of War (DOW), according to a statement released by the governor’s office.

It stated that National Guard troops will be authorized to assist with “administrative, clerical, and logistical duties,” such as data entry and case management at ICE processing facilities starting on Oct. 1.

They are authorized to assist ICE until Sept. 30, 2026, the governor’s office stated. Kehoe, a Republican, said that this support is intended to enable ICE personnel to focus on “core enforcement and security functions” across the state.

“Public safety, keeping Missourians safe, and upholding the rule of law is our administration’s top priority,” the governor said in the statement.

“The Missouri National Guard is uniquely equipped to provide this essential administrative support, and we are confident their contributions will be invaluable to immigration enforcement efforts.”

His office stated that Secretary of War Pete Hegseth on July 25 authorized federal funding for members of the National Guard to provide support to DHS at ICE processing facilities through Title 32, which allows guard members to perform missions for the Army, Air Force, president, or war secretary with the permission of the governor.

Kansas City Mayor Quinton Lucas, a Democrat, issued a statement denouncing the governor’s decision, saying that it would divert National Guard service members from their mission of protecting the public.

“Using the brave women and men of our National Guard as paper pushers and case managers at immigration facilities undermines their mission and the law, directs them away from the important storm-response and local public safety efforts Missourians care about, and marks another example of Missouri public policy operating for the interests of Washington elites rather than every day Missourians,” he stated.

The American Civil Liberties Union (ACLU) also condemned Kehoe’s move to authorize National Guard troops to assist with ICE operations amid the Trump administration’s ongoing immigration crackdown.

“With the backdrop of masked immigration agents breaking apart our families and communities, it is particularly concerning that the Governor is asking Guard members to voluntarily participate in this agenda,” Luz María Henríquez, executive director at the ACLU of Missouri, said in a statement.

Missouri’s authorization came just days after Louisiana Gov. Jeff Landy sent a letter to DOW on Sept. 29 requesting the deployment of 1,000 Louisiana National Guard troops to support law enforcement agencies.

The DHS also has asked the Pentagon and Illinois Gov. JB Pritzker to allow the deployment of 100 military personnel to Illinois “for the protection of ICE personnel and facilities” after clashes erupted between protesters and federal agents outside an ICE processing facility in Broadview, Pritzker said.

Pritzker told reporters on Sept. 29 that he opposes the troop deployment.

Last week, President Donald Trump ordered the deployment of National Guard troops to Portland, Oregon, under Title 10, Section 12406 of the U.S. Code, in the wake of escalating clashes outside federal immigration facilities. In response, the state of Oregon filed a lawsuit on Sept. 28, alleging that Trump had exceeded his executive authority in ordering the deployment.

Trump has already deployed troops to Los Angeles and the District of Columbia, and he has threatened to send them to Baltimore,  New Orleans, and Memphis, Tennessee, as part of a broader fight against urban crime.

Tom Ozimek contributed to this report.

Tyler Durden Sun, 10/05/2025 - 22:10

Students Hold Walk-Out Protest Over California School Bathroom Policy

Authored by Brad Jones via The Epoch Times (emphasis ours),

About 60 students walked out of morning classes on Oct. 1 to protest their high school’s policy allowing male students who identify as transgender to use girls’ bathrooms, in Anaheim, California.

Eddie Ledesma, the brother of Lesley Ledesma (background wearing pink), speaks out against trans-identified males allowed to use the girls’ bathrooms at Esperanza High School in Anaheim, Calif. on Oct. 1, 2025. Courtesy California Family Council

Joining the students at a press conference at Esperanza High School, opponents of state polices allowing transgender-identifying males to compete in girls’ and women’s sports and use female bathrooms and locker rooms said it’s time for the Trump administration to follow through on its threats to withhold federal funding from schools accused of violating Title IX.

Sophia Lorey, outreach director at California Family Council and former college soccer athlete, told The Epoch Times the federal government “should start pulling and withholding federal funding, especially in states such as California that “continue to put girls in harm’s way.”

“It’s time that these lawsuits start playing out,” Lorey said following the press conference.

Although many parents believe Title IX violations aren’t an issue if their children aren’t playing sports, she said, the walkout showed that all girls in high school who simply want to safely use the restroom are affected, Lorey said.

California lawmakers in 2013 passed Assembly Bill 1266, which allowed males who identify as transgender to use girls’ restrooms.

At the walkout—attended by about 35 female and 25 male students—Lorey accused state lawmakers of failing to protect girls.

“These students have taken it into their own hands to lead a student walkout, to stand strong and say they are not OK with boys in the girls’ restrooms,” she said.

The girls voiced concerns about a male student using the girls’ bathroom, and that it makes them feel uncomfortable and unsafe.

Lesley Ledesma, a junior student who led the walkout, said a transgender-identifying male has been using the girls’ restrooms. And, when she complained to the school administrators, she was told that if she felt uncomfortable sharing the bathroom with him, she could use the one in the nurse’s office instead.

“This felt like a slap in the face to me,” she said. “As a young woman who has used the girls’ bathroom my entire life, I was now being asked to step aside. It didn’t feel fair. It didn’t feel respectful. It felt like my concerns, and the concerns of other girls, were being overlooked.”

Sophie Lorey, a former college soccer player for Vanguard University in Costa Mesa, Calif., poses for a photo at the California State Capitol building in Sacramento, Calif., on Aug. 28, 2023. John Fredricks/The Epoch Times

Ledesma, who has attended Esperanza since her freshman year, said the incident stripped away the sense of safety she once felt at school.

“Everyone deserves dignity,” she said. “But dignity cannot come at the cost of someone else’s sense of safety. We must find a solution that protects the rights and feelings of all students, not just some.”

Eddie Ledesma, her brother, said it’s hard to watch his sister struggle.

“I want her and all the other girls here to feel safe in a place [that] should be private,” he said. “This isn’t about hate. It’s about respect.”

Sonja Shaw, president of Chino Valley Unified, speaks at a press conference outside the California state Capitol in Sacramento, Calif., on Aug. 14, 2023. Courtesy of California Family Council

Sonja Shaw, Chino Valley Unified school board president and a parental rights advocate, said at the walkout that because gender ideology has been normalized to the point where girls are told to sacrifice their privacy, safety, and dignity to accommodate boys in restrooms, the fight to protect girls has become a nationwide effort.

“This isn’t progress. This is regression. This is hate on girls,” she said. “This is the hill that we will die on to protect our kids. We are done. We’re not playing these games.”

If California continues to push gender ideology in schools, the problem will only get worse, she said.

“We have allowed radicals and special interests to push this madness, and too many officials have stayed silent or defended policies that put children at risk.”

Shaw said via text message to The Epoch Times following the press conference that “it’s not just time to consider withholding federal funding, it’s already time to act.”

The governor, state legislators, California Interscholastic Federation, and “too many school boards,” she said, have made it very clear they’re not budging on this issue.

“Title IX was written to protect girls, not erase them,” Shaw said. “If schools and states refuse to comply with that, then federal funding should be pulled.”

President Donald Trump, joined by women athletes, signs the “Keeping Men out of Women’s Sports” executive order in the East Room at the White House on Feb. 5, 2025. Andrew Harnik/Getty Images

President Donald Trump’s executive orders recognize two sexes—male and female—and make it clear that only females belong in girls’ and women’s sports and in female bathrooms and locker rooms.

“‘Sex’ is not a synonym for and does not include the concept of ‘gender identity,’” read Trump’s Jan. 20 executive order “Defending Women from Gender Ideology Extremism and Restoring Biological Truth to the Federal Government.”

“‘Gender identity’ reflects a fully internal and subjective sense of self, disconnected from biological reality and sex and existing on an infinite continuum, that does not provide a meaningful basis for identification and cannot be recognized as a replacement for sex.”

The president also signed an executive order titled “Keeping Men out of Women’s Sports” in February.

The two orders reversed Biden-era Title IX policies and reinstated regulations from Trump’s first term as president. The back-and-forth changes in regulations have led to legal disputes about Title IX interpretation and enforcement.

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The Trump administration on Sept. 30 warned of legal action against the Minnesota Department of Education and the Minnesota State High School League for allegedly failing to comply with Title IX, which prohibits sex discrimination in federally funded educational programs.

In June, the U.S. Department of Education concluded its Title IX investigations into the California Department of Education and the California Interscholastic Federation for allegations of discrimination against women and girls on the basis of sex. In both cases, the California Department of Education and the Interscholastic Federation were found to be in violation, and Secretary of Education Linda McMahon said the Trump administration would “relentlessly enforce Title IX protections for women and girls.”

The California Department of Education has authority over California Interscholastic Federation, which oversees 1.8 million high school students and more than 750,000 student-athletes, according to the DOJ.

California Gov. Gavin Newsom speaks in Oakland, Calif., on July 11, 2024. Travis Gillmore/The Epoch Times

In July, the Department of Justice (DOJ) launched a lawsuit against California, alleging the state’s laws promoting transgender athletes violate Title IX by depriving girls of equal athletic opportunities.

“California is on the wrong side of the law and the wrong side of history,” U.S. Attorney Bill Essayli said in a statement. “Women deserve dignity, respect, and an equal opportunity to compete on their own sports teams. The time for talk is over. California must comply with Title IX and end its civil rights violations against women.”

Tony Hoang, executive director of Equality California, an LGBT civil rights group, said in June that the federal education department’s findings were “a dangerous distortion of Title IX and a direct attack on transgender youth in California.”

“Let’s be clear: this isn’t about fairness in sports and never has been — it’s about a federal administration weaponizing civil rights laws to target transgender students and force California to comply with their hateful anti-transgender agenda,” Hoang wrote in a statement. “Transgender youth belong in our schools, on our teams, and in our communities — without apology and without exception.”

The governor’s office did not respond to an inquiry by publication time.

In his own podcast aired in March, Newsom told his guest, conservative commentator Charlie Kirk, who was assassinated last month at a college campus in Utah, that allowing men to compete in women’s sports is “deeply unfair.”

Democratic state Sen. Scott Wiener praised Newsom for his past efforts to defend and support people in the LGBT community and criticized the governor for the remark.

The governor has since discussed fairness in sports, while opposing federal attempts to roll back state laws and policies.

Tyler Durden Sun, 10/05/2025 - 21:00

"We're At A Tipping Point" - Trucking Industry Facing "Horrible" Rates, Tariffs, Werner CEO Says

By Noi Mahoney of FreightWaves,

At the WEX OTR Summit, Derek Leathers, chairman and CEO of Werner Enterprises, warned of tight capacity and higher operating costs in the trucking industry.

“We’re at a tipping point,” Leathers told attendees. “Capacity is leaving the market little by little. The industry needs significant rate increases to sustain itself. This isn’t just about survival — it’s about making sure trucking can continue to deliver America’s goods safely and reliably in the years ahead.”

WEX, a global commerce platform that simplifies the business of running a business, held its summit Wednesday through Friday in San Antonio, Texas.

The event brought together over 150 leaders from the over-the-road trucking industry for two days of insight, innovation and collaboration.

With the theme of “The Road Ahead,” this year’s summit features keynotes, and strategic discussions on the trends shaping transportation, including fuel management, fraud protection, payments technology and more.

The second day of the conference featured a keynote address from Leathers, who cited weak rates, new tariffs, driver shortages and cargo theft as key risks — even as nearshoring fuels U.S.–Mexico trade growth.

Leathers, whose company is one of the largest U.S. trucking and logistics providers, noted that freight rates have been challenging in recent years, leaving many small carriers unable to reinvest in equipment or operations.

Omaha-based Werner Enterprises was founded in 1956 and has around 8,000 trucks and over 24,000 trailers. The company provides service across North America.

“What’s going on in the freight environment right now? Obviously, rates have been depressed, and although it is stable, they are stably horrible for the most part over the last several years, well below people’s operating costs in many cases. At a minimum, not a reinvestable rate level,” Leathers said.

Tim Hampton, left, general manager and senior vice president of WEX over-the-road and WEX Capital, and Derek Leathers, the chairman and CEO of Werner, during the presentation, “State of the Road: Navigating the Economy and Opportunities Ahead” on Thursday

With Class 8 truck orders at historic lows and OEMs scaling back production, he predicted it could take years to rebuild manufacturing capacity, leading to higher truck prices “at the time we can least afford for them to be more expensive.”

Tariffs squeeze supply chains

Tariffs were another key focus of his address. Leathers cautioned that only about half of the tariff impact has reached consumers so far, with the rest absorbed by suppliers and retailers — a strain he expects will increasingly filter through the supply chain. 

He also raised concerns over new tariffs on trucks made in Mexico, despite USMCA’s trade protections, arguing they will further inflate equipment costs.

“On the truck side, two thirds of all or three fourths of all truck makers actually exist and make their trucks in Mexico. If I had been betting on this stage a year ago, I would have lost that bet because I would have said that USMCA would supersede and that there would be no additional tariffs on trucks from our neighbors. Clearly that is not the case as we stand here today,” Leathers said.

Leathers also highlighted the industry’s growing safety and compliance challenges, including renewed enforcement of English-language proficiency rules for CDL holders and the scrutiny of B-1 visa drivers operating cross-border routes. 
Nearshoring strengthens U.S.–Mexico trade

Looking at broader trends, he pointed to nearshoring as a lasting shift that will deepen U.S.–Mexico trade ties. Werner already moves more than 300 cross-border loads daily, a number he expects to grow as U.S. companies boost investment in Mexico.

“Mexico is the only neighboring country or even nearshoring option that actually has good demographics,” Leathers said. “Very few places in the world do and Mexico actually does have as many people coming into the population. as they’re losing from the population and that’s true for the next 10 to 20 years.”

Cargo theft and supply chain security

Beyond the macroeconomic headwinds, Leathers also addressed rising cargo theft, calling it a “terrifying” trend fueled by organized crime. He urged shippers and carriers to strengthen vetting and technology safeguards to protect supply chains.

“Cargo theft has continued to rise. I think when you see a population that feels underdressed, that’s when risky behavior seems to always increase over time,” Leathers said.

“I think this is an area where not having proper vetting of every single man or woman on the road makes a difference. We know factually speaking from the FBI and others, there are in fact many criminal organizations outside the United States that are heavily involved in this work. There are organizations inside the U.S. as well, but the numbers are staggering.”

Trucking leaders say data will drive sustainable freight

Executives from FedEx, J.B. Hunt, and NFI Industries said the trucking industry’s path to sustainability hinges on efficiency and data-driven reporting, as customers and regulators press for greater transparency.

Speaking at the “Driving Green with Data: Executive Insights on Sustainability and Reporting” panel on Thursday, FedEx Express executive Mickey Black highlighted the company’s pledge to reach carbon neutrality by 2040. 

“That commitment gave the entire organization a clear mandate,” Black said.

J.B. Hunt’s Jared Mounce outlined the carrier’s 32% greenhouse gas intensity reduction target by 2034, stressing that intensity goals better reflect efficiency as freight volumes grow.

NFI’s Alexa Branco emphasized the importance of tracking fuel consumption, idling, and emissions intensity to prove ROI and prepare for stricter reporting.

Panelists agreed shippers increasingly require emissions reporting in contracts, some now demanding lane- or package-level detail.

Sarah Booth, director, Sawatch Labs; Alexa Branco, director of sustainability, NFI Industries; Mickey Black, managing director global vehicles and surface fuel, FedEX; Jerrod Mounce, vice-president of energy & sustainability, J.B. Hunt at the WEX OTR Summit in San Antonio, Texas on Thursday. 

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Tyler Durden Sun, 10/05/2025 - 18:40

Nearly One-Third Of EV Charging Attempts Fail, Report Finds

By Thomas Wasson of FreightWaves

A newly released report by ChargerHelp! shows that while 64% of Americans now live within two miles of an electric vehicle charging station, nearly one-third of charging attempts fail. Despite charging infrastructure showing 98.7% to 99% uptime rates, only 71% of charging attempts actually succeed, according to the 2025 EV Charging Reliability Report.

The report analyzed more than 100,000 sessions across 2,400 chargers. The report argues that instead of focusing on site uptime statistics, the first-time charge success rate (FTCSR) provides a more accurate measure of the driver experience.

“Uptime tells us if a charger is available, but it doesn’t tell us if a driver can actually plug in and get a charge on the first attempt,” said Kameale Terry, CEO of ChargerHelp!, in an interview with FreightWaves. “First-time charge success captures the real driver experience, and by centering on this metric, the industry can close the gap between availability and usability and build the trust needed for mass adoption.”

The complexity of EV charging stems from multiple software systems that must work in harmony, explained Terry, who has nearly a decade of experience in the space.

“Charging stations and electric vehicles are literally computers,” Terry said. “It’s all about these handshakes and how one software understands another software. If you’ve ever been in the software space, then you probably know that sometimes software doesn’t really understand one another.”

When any of these systems sends out firmware or software updates, compatibility issues can arise. As Terry notes, “Sometimes it may create a bit of a wrinkle in that system … maybe the vehicle itself, the battery management system, doesn’t really understand what the charging station is asking of it.”

These technical barriers create real-world problems for EV operators. In one example, a fleet driver might arrive at a station showing a green “available” indicator, only to find that after plugging in, the station fails to initiate authentication or begins the process but returns to the available screen without completing a charge.

Unlike Tesla’s vertically integrated system, most charging infrastructure involves multiple companies developing separate software components for vehicles, hardware, charge management systems, payment processing and connectors. This fragmentation creates interoperability challenges that directly impact consumers.

The report also identified trends in infrastructure aging. Success rates drop from 85% after the first year at new stations to approximately 70% after three years. This often happens because older hardware cannot be upgraded to newer protocols without significant equipment replacement.

“With older stations, some architecturally inside the unit itself cannot be upgraded to the new protocol,” Terry explained. “You would actually have to deploy a new piece of equipment into that unit in order to update it.”

This creates an added wrinkle for site owners using legacy infrastructure. While new vehicles are tested with current charging stations before deployment, they aren’t typically tested with older charging infrastructure, creating potential compatibility gaps.

Another challenge is regulatory oversight limitations. Unlike gasoline pumps, which undergo regular inspections by state authorities, EV charging stations face limited regulatory supervision. While weights and measures departments do monitor publicly deployed charging stations, their focus is primarily on ensuring consumers receive the electrons they’re paying for, not overall system reliability.

“Even if the station isn’t functioning at all, you wouldn’t get your sticker. They’re more so making sure that you’re not cheating the consumer,” Terry explained, adding that private fleet charging infrastructure falls outside this regulatory framework entirely.

The report recommends three key industry improvements: adopting FTCSR as a central metric, implementing preventive maintenance programs rather than relying on short-term hardware fixes, and establishing a collaborative industry approach to standardize protocols and share data.

Despite these challenges, Terry remains optimistic about the future. “It’s a solvable problem,” she said. “Even gas cars, switching from the horse and buggy to gasoline cars … was not an easy thing. But somebody figured it out. We got roadways, we got vehicles, and now we’re inside of this new kind of transition.”

Tyler Durden Sun, 10/05/2025 - 17:30

All Talked Out?

By Peter Tchir of Academy Securities

This is not something I can say every day, but I feel “all talked out.” 

We just concluded our annual Annapolis Geopolitical Summit. Turnout was amazing as the summit grows year after year. We covered a range of topics, with not only our Generals and Admirals (ret.) contributing, but also the influence from our former CIA officers and some of the industry specialists who participated in the summit was keenly felt. Clients were also able to share their insights.

Prior to the summit, I had the pleasure of having dinner in DC with the Under Secretary of War, Tony Tata, which was incredibly interesting.

I’m on my way to Toronto to take my father to watch the Blue Jays play the Yankees. Then off to Chicago and Milwaukee as we have numerous meetings and events planned. A really exciting time here.

So Many Narratives

If you missed last weekend’s Meandering Through the Narratives, that is worth a gander. We covered the i-shaped economy. Something we think will gain traction as being more “accurate” than either the K or k-shaped economy.

Russia’s frozen € reserves. That is the new twist as the administration (and potentially Europe) ramps up their pushback on Putin. This could be a pivotal moment for Europe (and the bond market).

A few of the topics deserve a bit more time.

Peace Through Strength

Peace Through Strength remains a theme. Our GIG (Geopolitical Intelligence Group) had a lot of thoughts on the 10-points announced in Quantico on Tuesday and the overall messaging. I think we are all digesting it, but my quick takeaways were:

• Some GIG members who I thought would have been against much of what occurred, were not, and vice versa.
• The points listed, in and of themselves, were not overly controversial.
• One risk, that was pointed out multiple times, is that while physical fitness, etc., is important, much of what drives a modern military is “brain power” and we would be remiss to create a culture that pushes out brain power. Nothing in particular happened on that front, but it is something to think about.
• While a “corporate rebranding” comparison remains valid, maybe some of the messaging and tone was possibly “more aggressive” than necessary?
• There was little support for the “enemy within” tone as the GIG, collectively, views the military (from senior officers to the lowest ranking soldier) as working together for the good of the services and the country.

ProSec

Production for Security. You might be surprised by how many tickers are being thrown at me. Every day it seems (because it probably is every day) that someone is sending me a new ticker to look at as a candidate for what we have been calling ProSec™. In last weekend’s report we wanted to make it clear, that yes, like many, we have concerns about longer-term ramifications and would like to see governance issues more clearly defined, but for now, keep investing on the basis of this admin taking new approaches to jump-start technologies and industries deemed critical to national security (which can also be described as critical to preparing for trade negotiations once again with China a couple of years down the road).

It is fun to watch (and fun to learn about) as these tickers are tossed our way, and also fun to profit from this view that hasn’t caught on (at least not as a slogan), but is working extremely well.

Electron Production

The shift from molecules to electrons, which Mike Rodriguez (our Head of Sustainable Finance and a decorated Marine) helped me to use as a phrase, is “blowing up.”

Every serious conversation about AI and Data Centers “devolves” or “evolves” into a conversation about electron production (electricity for us “luddites”).

Electricity production came up during almost every conversation at the summit.

We had clients who helped us and provided information that we have just started to digest (and probably won’t really complete our review until after today’s baseball game). This is in addition to the copious work Mike Rodriguez has done and continues to do. 

I could keep going on now, but I’m not well enough prepared, and quite frankly, I am “talked out” so expect more on this later in the week.

Cyber

Cyber came up in interesting ways at the summit. Everyone “knows” about cyber risk. Everyone is “doing something” about cyber risk. But are we doing anywhere close to enough?

How do public and private entities work together to protect each other?

A lot of “wins” go undocumented, for good reason, so the fears may be overly inflated. Adequacy of response – true deterrence – was discussed in detail. 

I was a little surprised by the focus on cyber, but maybe because it is morphing from an “everyone knows” to “everyone is really trying to figure it out” stage.

Space

On the final day of the summit, we hosted a “war game.” It is an interesting opportunity to “role play” and think about things. One “twist” that was given to one of the groups, was a Chinese missile “knocking out” a U.S. satellite. 

Space as both an investment opportunity and a domain of war, is something we bring up periodically, but need to focus on more.

Government Shutdown

We suggested people Prepare for an Extended Shutdown. We are getting some pushback that a deal could come as early as this week. Given the sources, it is plausible, but I’m still in the camp that this is going to drag on, and we are going to see some “surprising” announcements. In my view, the people saying, “this will end soon” are playing “politics as usual” or following “traditional norms” and I’m not convinced that is the right way to look at things.

Bottom Line

I managed to fill 2 pages while being "talked out."  lot is going on and this seems like an ideal time to develop scenarios for the major themes so you can react as they evolve!

Tyler Durden Sun, 10/05/2025 - 16:20

Goldman On NatGas: "From US Congestion Concerns To Tight 2026" 

U.S. natural gas futures surged 17.3% last week, the largest weekly gain since early May. Goldman Sachs analysts offered context for the rally, noting that the market narrative has shifted "from U.S. storage congestion fears to tightening 2026 supply."

A team of Goldman analysts led by Samantha Dart, senior energy strategist, explained that the jump in NatGas prices last week to nearly $3.5/mmBtu was largely due to the roll into the November "winter" contract, which carries stronger heating demand and lower storage congestion risk. 

$3.5/mmBtu resistance.

Dart explained that even beyond the rollover effect, two bullish forces supported the rally:

• First, while the market seemed to be pricing in concerns that Gulf storage would face a congestion event over the past several weeks, such an event does not seem to have materialized. Henry Hub cash prices have held relatively well in the period, consistent with manageable weekly storage injections (Exhibit 2 and Exhibit 3). The weakest point for cash prices in the period, but which still held above $2.70/mmBtu, was the long Labor Day weekend, when demand softness from the holiday was exacerbated by significantly milder-than-average weather.

• Second, U.S. liquefaction demand for gas has increased recently, with Venture Global's Plaquemines' gas pull now approaching its 3.6 Bcf/d capacity, while gas demand at Cheniere's Corpus Christi expansion appears to have also stepped up (Exhibit 4). This has taken total U.S. gas demand for LNG exports to over 16.5 Bcf/d this week, the highest level since early August, and likely to rise sustainably above 17 Bcf/d by mid-Oct, when we expect Cove Point to return from maintenance.

• On net, salt storage, which are the highest deliverability facilities in the U.S., has remained at a manageable level, including an atypical withdrawal last week reported today by the EIA. We note this may be offset next week by a combination of increasing production and reduced pipeline exit flows from the Gulf (largely driven by maintenance events), which could temporarily weigh on U.S. gas prices from current levels. However, we believe we are quickly approaching a period when the market's focus will more sustainably shift towards 2026 tightness concerns. This is illustrated by the Cal26 strip settling this week above $4/mmBtu for the first time in two months. We maintain our $4.00/$4.60/mmBtu Nov-Dec25/Cal26 Henry Hub forecasts.

Dart's chartpack:

*pic

Separately, the heating season is just around the corner, with about 42% of U.S. households (the top source, especially in the Midwest and Northeast)using NatGas for heating. 

Here comes the heating season. 

. . . 

Tyler Durden Sun, 10/05/2025 - 15:45

US Postal Service Mail Carrier Shot By Amazon Driver

By Eric Kullisch of FreightWaves

A U.S. Postal Service worker was shot in the face during an altercation Friday afternoon in Everett, Washington, and a rival package delivery driver is in custody, according to local police and a postal inspector.

The incident took place at the West Mall Place Apartments. The victim was transported to Providence Hospital with a gunshot wound, the Everett Police Department said in a Facebook post. He was transferred to Harbor View Medical Center in critical condition, Seattle TV station KOMO reported. 

Neighbors said the shooter was an Amazon delivery driver, according to KOMO and social media posts. TV footage showed an Amazon vehicle and USPS van behind police crime-scene tape and the Amazon van being towed away later.

“USPS workers don’t let people in the area when they have the mailboxes open. The Amazon driver didn’t particularly like that, they got into an argument, which escalated to a shoving match, which escalated to the Amazon driver shooting the USPS guy in the freaking eye!!! Then he sat there calmly and waited for the cops to show up and claimed self defense,” a poster named Rich Ryan said on Facebook.

KOMO quoted a U.S. postal inspector as saying the mail carrier was confronted by an individual and the carrier was shot in the face. 

The U.S. Postal Inspection Service and the FBI are also investigating the case. The suspect was booked into Snohomish County jail, KOMO said.

*  *  *

Tyler Durden Sun, 10/05/2025 - 15:10

Dating App Fatigue Emerges 

For half a century, how couples met in America was primarily shaped by family and friend networks, communities, churches, colleges, and workplaces - you know, just the traditional fabric of Western society. However, the advent of the internet and the rise of Big Tech, with its closely guarded algorithms (and now AI bots), have dramatically reshaped modern romance. Yet, new data from Goldman suggests that how couples meet, whether online or through dating apps, may have reached a major inflection point.

The three-decade trend is clear: traditional networks, whether through friends, bars, or other social circles, haven't dominated how couples meet since the late 1990s. The internet changed everything. But the question now is, how sustainable is the trend of finding your partner on a dating app?

This brings us to a report published by a team of Goldman analysts led by Eric Sheridan, who provided clients with everything they need to know about dating app companies tracked by GS ahead of the third quarter earnings season.

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We won't focus on Sheridan's downgrade of Bumble from "Buy" to "Neutral" or the key investor discussions surrounding Match Group and Grindr. Instead, the focus is on new SensorTower data cited by the analyst, which shows that monthly active users and download growth across major dating apps have been stuck in a funk. 

The highlights of the data (US only) include:

• Monthly Active Users: During July-September, Hinge posted MAU growth of +6% YoY, while all other tracked dating apps declined.

• Downloads: Download trends during the quarter remained negative, with Bumble app downloads -39% YoY (driven in part by lower marketing spend).

The question now is: what's changed in how people perceive meeting a significant other online? Could it be a growing trust issue that meeting a random stranger on the internet feels increasingly risky, given the occasional horror stories? Perhaps people are rediscovering the real value of meeting through friends or social circles, where some level of vetting naturally occurs. Whatever the reason behind the apparent slowdown in online dating momentum, younger generations may be quietly shifting back to the basics.

Tyler Durden Sun, 10/05/2025 - 09:55

Can Private Investment Unlock A New Nuclear Energy Era

Submitted by OilPrice.com,

As several governments aim to battle climate change by shifting away from fossil fuels and pursuing a green transition, many are revisiting a long-overlooked energy source – nuclear power.

Nuclear power was at the top of many countries’ energy agenda for several decades before a few notable nuclear disasters shifted the public perception of the clean energy source, and several governments halted development for years. Now, as studies show that nuclear power is one of the safest forms of energy, so long as strict oversight mechanisms are in place, we are seeing a revival in the clean energy source. However, one of the major constraints to development is the high cost of project development.

Nuclear power plants are relatively cheap to run, but the cost of developing a new plant and reactor is extremely high, costing several billion dollars to set up. Many governments are funding the development of nuclear energy facilities through public-private partnerships to alleviate the financial burden on the state. In addition, private investors are often more willing to fund nuclear projects that have the political and financial backing of the government as a reassurance.

Over the last year, several tech companies have signed agreements with nuclear companies to gain access to a vast amount of nuclear power once projects come online, as they aim to find a cleaner way to power advanced technologies, such as data centres and artificial intelligence (AI). The widescale deployment of these technologies is expected to drive up the world’s energy demand significantly over the coming decades, and governments are increasingly shifting the burden to tech companies to find clean energy sources to power their operations instead of relying on the existing grid.

In September, representatives from some of the world’s biggest uranium and nuclear energy firms, as well as nuclear experts and investors, met for the annual World Nuclear Association (WNA) symposium to discuss the potential for nuclear investments, with investments in the nuclear value chain expected to increase to $2.2 trillion by 2050 from $1.5 trillion in 2024, according to Morgan Stanley.

Many investors are hesitant to invest in nuclear power due to the uncertainties involved in project development. The construction of new nuclear plants and reactors is extremely complex, and projects can often run over budget and take years longer than anticipated to develop, as seen with EDF’s Sizewell C nuclear power plant in the U.K. The cost of developing Sizewell C has almost doubled to $51.9 billion since it was first proposed, which will result in higher bills for consumers. This is largely due to the lack of nuclear power construction in recent decades, which has driven up the costs of new project development, compared to countries such as China, where projects are generally delivered on time and within budget.

One investor, Arfa Karani, emphasised the change in the nuclear power investment environment in recent years. She explained how the U.K. government has adopted a more hands-on approach to supporting nuclear power and related tech startups in securing investors. “The regulation has to figure itself out. It’s no longer a question of where do we get the capital from? ...because now suddenly it’s become a matter of national security and global power and global dominance,” Karani said. “All the insolvable problems suddenly become solvable, which is very exciting for nuclear,” she added.

The International Energy Agency’s (IEA) 2025 publication “The Path to a New Era for Nuclear Energy” explores the new policies, projects, investments, and technological advances driving the development of new nuclear power. The report shows that, in a rapid growth scenario, annual investment would need to double to $120 billion by 2030. This means that the rollout of new nuclear projects cannot rely exclusively on public finances. The IEA highlights the importance of bringing down financing costs and attracting private capital to the nuclear power sector. 

The IEA’s Executive Director Fatih Birol stressed that “governments and industry must still overcome some significant hurdles on the path to a new era for nuclear energy, starting with delivering new projects on time and on budget – but also in terms of financing and supply chains.”

The IEA also suggests that the introduction of small modular reactors (SMRs) could help reduce costs and that with the right support, SMR installations could reach 80 GW by 2040, accounting for 10 percent of overall nuclear capacity globally. However, the report states that the success of the technology and speed of adoption will hinge on the industry’s ability to bring down costs by 2040 to a similar level to those of large-scale hydropower and offshore wind projects.

With support from several state governments, we can expect to see a wide-scale rollout of nuclear power capacity in the coming decades. However, the extent of the capacity growth will depend largely on how much private funding governments can attract to the nuclear power market through the introduction of favourable policies and regulations, as well as public funding into new projects. 

Tyler Durden Sun, 10/05/2025 - 09:20

Saudi Arabia's Spending Spree Meets Oil Price Reality

Submitted by Julianne Geiger of OilPrice.com,

Saudi Arabia’s grand Vision 2030 ambitions may be colliding with a colder fiscal reality.

Fitch Ratings warned Friday that Riyadh faces rising financial risks as oil prices soften and government spending balloons, threatening the kingdom’s plans for fiscal consolidation.

The numbers tell the story: Saudi Arabia now expects a budget deficit equal to 5.3% of GDP in 2025—nearly double its original 2.3% forecast—before narrowing to 3.3% in 2026.

The deterioration comes largely from weaker oil income, Fitch said, with non-oil revenues holding up but not enough to offset the gap. The rating agency pointed to revenue shortfalls and overspending as the main culprits, noting the massive capital outlays required by megaprojects like NEOM.

This week’s pre-budget statement from Riyadh signaled a shift toward tighter fiscal discipline, but Fitch noted the tension between Saudi’s promises of restraint and its reliance on the Public Investment Fund’s trillion-dollar Vision 2030 agenda.

That tension is only magnified by sliding crude prices, with Brent down more than 7% this week on speculation of further OPEC+ supply hikes.

Those hikes are themselves controversial. Reuters sources have floated that Saudi Arabia wants much larger quota increases than Russia, moves that could win back market share but put additional pressure on oil prices. OPEC has already lashed out at the newswire, dismissing reports of a half-million-barrel increase as “wholly inaccurate.” Yet the clash illustrates the stakes: Saudi Arabia’s fiscal health depends on a stable oil market, but its production strategy is geared toward defending long-term relevance, even if that risks lower near-term prices.

Fitch said fiscal tightening would ultimately come through modest spending cuts, stable oil revenues, and continued growth in non-oil income. But the kingdom’s vulnerability to oil price swings remains obvious. Vision 2030 may be designed to break the dependence on crude—but for now, Saudi Arabia’s books are still hostage to it.

Tyler Durden Sun, 10/05/2025 - 08:10

Was Scandinavia's Russian Drone Scare A False Flag To Crack Down On Russia's Shadow Fleet?

Authored by Andrew Korybko via Substack,

It’s highly suspicious that Zelensky just claimed without any evidence that they were launched by Russian tankers and subsequently demanded that Europe close the straits to its shipping in response...

Unknown drones recently flew in close proximity to Danish and Norwegian airports, prompting speculation among some that they were Russia’s delayed hybrid retaliation against NATO for backing Ukraine’s drone flights in proximity to Russia’s own airports over the past few years.

No evidence has emerged in support of that hypothesis, but Zelensky still dishonestly passed off such claims as fact during his speech at the latest Warsaw Security Forum.

According to him, “there is growing evidence that Russia may have used tankers in the Baltic Sea to launch drones – the drones that caused major disruption in Northern Europe. If tankers used by Russia are serving as drone platforms, then such tankers should not be free to operate in the Baltic. This is de facto Russia’s military activity against European countries, so Europe has the right to close straits and sea routes to protect itself.”

His proposal for NATO to close the Danish Staits to Russian shipping on this pretext, which would amount to an illegal blockade that could thus legitimize offensive action by Russia in self-defense, was predictable given Ukraine’s and some of its patrons’ interest in escalating the bloc’s tensions with Russia. In fact, it might even be the case that this was the false flag that Russia’s Foreign Intelligence Service twice warned could soon be staged by the UK and Ukraine, albeit ultimately taking a different form.

They assessed that those two might orchestrate potentially forthcoming provocations in the Baltic that would then be blamed on Russia in order to justify cracking down on its sanctioned energy trade that the West dramatically describes as being conducted by a “shadow fleet” transiting through that sea. While no US ship was targeted with Ukrainian-transferred Soviet/Russian torpedoes nor were such mines fished out of the Baltic, Scandinavia’s Russian drone scare still arguably fulfills the same role.

Skeptics might insist that Russia resorted to “plausibly deniable hybrid retaliation” against NATO, yet it’s illogical that Russia would risk anything that could justify the same escalation that Putin’s restraint has thus far avoided, the same goes for the earlier drone incident in Poland. Ditto that for the associated accusation that it violated Estonia’s maritime airspace. All these incidents were spun by the West as deliberate Russian provocations and preceded escalatory proposals misportrayed as “retaliation”.

The Polish and Estonian ones were exploited to get Trump to greenlight NATO downing Russian jets on the basis of them violating the bloc’s airspace, which might embolden some to attempt this on false pretexts, while the Scandinavian ones were exploited to call for closing the Danish Straits to its shipping. Both concern escalations in the Baltic, which could amount to an illegal blockade that obstructs the free movement of Russian planes and ships there, thus also placing unprecedented pressure on Kaliningrad.

This insight strongly suggests that Scandinavia’s Russian drone scare was indeed a false flag to justify cracking down on Russia’s “shadow fleet”, though it’s presently unclear whether any NATO members will cross the Rubicon by seriously making any such move like closing the Danish Straits to its shipping. In any case, Zelensky’s proposal proves that he’s trying to manipulate Trump into a disaster of epic proportions together with some of his like-minded NATO patrons, but hopefully Trump won’t fall for it.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.

Tyler Durden Sun, 10/05/2025 - 07:00

ICE Agents Ambushed In Chicago As Trump Deploys National Guard

Immigration and Customs Enforcement (ICE) agents were 'rammed and boxed in by 10 cars' in Broadview, Illinois on Saturday, according to the Department of Homeland Security's Tricia McLaughlin in a statement to Fox News. 

Federal agents from U.S. Immigration and Customs Enforcement and U.S. Customs and Border Protection walk along West Wacker Drive in the Loop in Chicago on Sept. 28, 2025. Ashlee Rezin/Chicago Sun-Times via AP

According to the McLaughlin, officers "were forced to deploy their weapons and fire defensive shots at an armed U.S. citizen."

The armed attacker, a woman who is a US citizen who was named in a Customs and Border Protection (CBP) intelligence bulletin, allegedly doxxed agents and posted online: "Hey to all my gang let’s f--- those motherf------ up, don’t let them take anyone." 

The firefight took place as "agents were reportedly performing a routine patrol in Broadview, a suburb of Chicago." No agents were injured in the incident, and "the woman involved drove herself to the hospital to get care for wounds."

"Today in Chicago, members of our brave law enforcement were attacked—rammed and boxed in by ten vehicles, including an attacker with a semi-automatic weapon," wrote DHS Secretary Kristi Noem in a Saturday post on X, adding "I am deploying more special operations to control the scene. Reinforcements are on their way."

Today in Chicago, members of our brave law enforcement were attacked—rammed and boxed in by ten vehicles, including an attacker with a semi-automatic weapon.

I am deploying more special operations to control the scene. Reinforcements are on their way.

If you see a law…

— Kristi Noem (@KristiNoem) October 4, 2025

Hours earlier, in response to plans by President Trump to federalize 300 members of the Illinois National Guard, Gov. JB Pritzker posted a barrage of statements on X - accusing the Trump administration and federal law enforcement of "unprecedented escalations of aggression against Illinois citizens and residents."

"This morning, the Trump Administration’s Department of War gave me an ultimatum: call up your troops, or we will," Pritzker wrote. "It is absolutely outrageous and un-American to demand a Governor send military troops within our own borders and against our will."

Federal law enforcement arrive near an ICE facility in Broadview, Ill., on Friday.  (AP/Erin Hooley)

As the Epoch Times notes further, the confrontation marked the latest escalation in an increasingly tense standoff between federal authorities and some states over “Operation Midway Blitz,” a federal immigration enforcement initiative launched on Sept. 8.

DHS said recently the operation has resulted in more than 800 arrests in Illinois, targeting individuals with criminal records, including sexual offenses and gang ties.

Pritzker has denounced the operation as unconstitutional, calling it “a pretext to send armed military troops into our communities.”

The governor, at a press conference last week, accused federal agents of using tear gas, pepper spray, rubber bullets, and flashbangs against protesters exercising their First Amendment right in Broadview.

McLaughlin had earlier urged Pritzker to tone down “rhetoric about ICE” after clashes broke out between protesters and federal agents outside the Broadview ICE processing facility.

“These riots outside the ICE Broadview Processing Center and attacks on ICE officers come after Democrat politicians, including Governor Pritzker and Mayor Brandon Johnson, have villainized and demonized ICE law enforcement,” McLaughlin stated.

The Department of War confirmed last week that it had received a DHS request to deploy troops to Illinois to help protect federal personnel, property, and functions. It said any decisions would be made “in accordance with established processes and announced at the appropriate time.”

In his Oct. 4 statement, Pritzker said that “there is no need for military troops on the ground in the State of Illinois” and that local law enforcement have been working “to ensure public safety around the Broadview ICE facility, and to protect people’s ability to peacefully exercise their constitutional rights.”

“I will not call up our National Guard to further Trump’s acts of aggression against our people,” he added.

Tyler Durden Sat, 10/04/2025 - 23:55