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Qatar's Energy Minister Says Bessent's "Worthless" Hormuz Claim Is "Completely Wrong"
Qatar's Energy Minister Says Bessent's "Worthless" Hormuz Claim Is "Completely Wrong"
Qatari Energy Minister Saad Al-Kaabi blasted Treasury Secretary Scott Bessent on Sunday, saying he was "wrong" to claim the Strait of Hormuz would become "worthless" to the oil industry in two years.
"I think this is completely wrong," Saad Al-Kaabi said Sunday at the Qatar Economic Forum in New York.
Speaking to Fox Business's Larry Kudlow on the sidelines of the Group of 20 finance ministers' summit in North Carolina earlier this month, Bessent said the Hormuz maritime chokepoint, in about...
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Jun 4, 2026 / Jason Ditz
Israeli Attacks Kill Four in Lebanon as ‘New Ceasefire’ Doesn’t Stop Strikes
On Wednesday evening, it was announced that Israel and Lebanon had agreed to a new ceasefire. Officials, of course, have been reporting that there has been a ceasefire between the two sides since mid-April, but several hundred people have been killed in the fighting that’s gone on during that “ceasefire.” This latest deal was described […]
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Jul 9, 2026 / Tyler Durden
NYC Tower Owner Prepares To Rebuild 15 Floors After I-Beam Failure
NYC Tower Owner Prepares To Rebuild 15 Floors After I-Beam Failure
Fears of a possible collapse at a condo tower under construction near Grand Central Terminal had abated by the end of the week, but the incident only signals the massive engineering challenges tied to Manhattan's office-to-apartment conversion boom.
The former Pfizer headquarters at 235 East 42nd Street, being converted by David Werner and Nathan Berman's Metro Loft Management into more than 1,600 residential units, has become a high-profile example of the risks of repurposing aging office towers into housing at...
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May 13, 2026 / Thiago V. S. Coelho
Marx Was Wrong About the “Necessary” Ruin of Small Landed Property
Karl Marx not only misunderstood value and production, but he also was wrong about large-scale and small-scale property owners.
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