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France Plans €10 Billion Push To Cut Reliance On Gas and Oil
France Plans €10 Billion Push To Cut Reliance On Gas and Oil
France is shifting its response to rising fuel costs away from short-term relief and toward long-term electrification, according to Prime Minister Sébastien Lecornu. Instead of expanding fuel subsidies after oil prices spiked due to the Iran conflict, the government plans to redirect funding into helping households and businesses transition to electric energy, according to Bloomberg.
Under the plan, annual support for electrification will nearly double to €10 billion by 2030, up from €5.5 billion today. The increase will come...
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May 20, 2026 / Tyler Durden
Trump Admin Announces Criminal Charges Against Former Cuba President Raul Castro
Trump Admin Announces Criminal Charges Against Former Cuba President Raul Castro
Update (1300ET): As we wrote earlier in anticipation, the US sought to unseal an indictment against former Cuban President Raúl Castro, sharply escalating a standoff with Havana as the Trump administration attempts to force change on the island after nearly seven decades of communist rule.
The charges are related to the shooting of two humanitarian planes in 1996.
The Department of Justice asked to unseal the indictment against Castro and five other people in a filing in federal court in Florida on...
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Apr 12, 2026 / Tyler Durden
Saudi Arabia's Most Critical Pipeline Restored After Drone Attack
Saudi Arabia's Most Critical Pipeline Restored After Drone Attack
A key Saudi oil pipeline to the Red Sea was restored on Sunday and is now pumping at full capacity after an Iranian drone attack last week damaged a pumping station.
The East-West pipeline is back at full capacity, moving about 7 million barrels per day and restoring critical energy flows from Saudi's Persian Gulf oil fields to the Red Sea port of Yanbu, bypassing the turmoil in the Strait of Hormuz.
Bloomberg quoted the Saudi energy ministry as saying that Saudi...
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Apr 15, 2026 / Tyler Durden
Foggy, Foggy War
Foggy, Foggy War
By Michael Every of Rabobank
With US stocks up, the Nasdaq with its longest winning streak since 2021, and screen oil down for a second day in a row, markets continue to price the starkly binary physical outcomes smack in front of us on the side that’s full of stardust.
The IMF just warned of a potential world recession ahead if Hormuz stays shut. Its latest three global growth scenarios are ‘weaker’, ‘worse’ and ‘severe’ - “because markets”, and politics, the Fund chose the most benign as its base...
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