Cronyism and Regulatory Capture

WTI At 5-Week Highs As US-Iran Fighting Resumes; US Production At Record High As Cushing & SPR Hit 'Tank Bottoms' Oil prices were volatile but are trading around unchanged this morning, but still near the highest closing level in five weeks (WTI topped $92 overnight) as hostilities broke out again between the US and Iran, renewing the threat to energy exports from the Middle East. The US conducted a second day of strikes on the Islamic Republic overnight, with President Donald Trump threatening more attacks if Tehran responded. Within hours, Iran...

Treasury Department Ends Ownership Reporting For US Small Businesses Authored by Owen Evans via The Epoch Times, The Treasury Department on Tuesday finalized a rule permanently exempting U.S. companies and individuals from reporting beneficial ownership information to authorities, rolling back Biden-era Corporate Transparency Act requirements. Treasury Secretary Scott Bessent testifies before the Senate Committee on Appropriations in Washington on June 3, 2026. Madalina Kilroy /The Epoch Times "Today's action is a victory for common sense and American small businesses," Treasury Secretary Scott Bessent said in a statement on Aug. 11. "President [Donald] Trump promised...

Trump Says "Secret Military Mission" Allowed 200 Ships, 100 Million Barrels To Cross Hormuz Confirming our reported from both a week ago (see "As Gulf States Plan Bypass Pipelines, US Military Is Quietly Helping Ships Cross Hormuz") and this afternoon ("Growing Number Of Oil Tankers Successfully Sneak Through Hormuz, Shrinking Iran's Leverage") moments ago Trump posted on Truth Social that he had "directed our Great U.S. Military to execute a secret mission to support Oil Tankers and other Commercial Ships through the Strait of Hormuz." Of course, the mission wasn't that...