From Trucks To Tanks: Pentagon Looks To Automakers To Rebuild America's Arsenal

QatarEnergy Declares ForceMajeure For LNG Shipments Through May, Representing As Many As 90 Cargoes The already dismal LNG supply situation just got worse. With up to 20% of global LNG flows shuttered due to the ongoing blockade of the Hormuz Strait and the extensive damage of Qatar LNG infrastructure, QatarEnergy has declared force majeure on some of ⁠its long-term liquefied natural gas (LNG) supply contracts, including ‌for customers ⁠in Italy, Belgium, South Korea ⁠and China, effectively canceling contractual obligations. That would represent as many as 90 cargoes according to Bloomberg. The move on...

Global Oil Demand Growth Completely Wiped Out By Gulf Energy Shock The global demand destruction playbook we outlined last month, describing how the Gulf energy shock would spread across continents, is now materializing on a large scale. The International Energy Agency said in a Tuesday update that global oil demand will decline this year for the first time since 2020. "The Iran war has thoroughly upended the global outlook for oil consumption," the IEA wrote in its Oil Market Report. "Demand destruction will spread as scarcity and higher prices persist." The IEA...

How Will AI-Driven Automation Actually Affect Jobs? Authored by Alex Imas and Soumitra Shukla via Ghosts of Electricity, One of the most widely cited findings in AI policy comes from a 2023 paper by Eloundou, Manning, Mishkin, and Rock titled “GPTs are GPTs.” The title is a nice double meaning: the paper studies how general-purpose technologies (GPTs) powered by large language models (also GPTs) may reshape the labor market. The headline finding is that around 80% of U.S. workers could have at least 10% of their tasks affected by LLMs, and...