“Drill, baby, drill’ backfires: Trump’s illegal war may trigger permanent shift away from oil

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  • Post last modified:12 June 2026
“Drill, baby, drill’ backfires: Trump’s illegal war may trigger permanent shift away from oil

US oil exports are surging as Saudi and Russian exports are disrupted by US-led wars and sanctions — but, there is a big ‘but’ here, the true and permanent winner of Trump’s Iran war might be China’s clean-tech industry. Exports of Chinese-made solar cells hit 1.7bn units in March, a record high for a single month, the Financial Times reported. Trump’s Iran war has propelled China’s cleantech industry https://t.co/cme8pBMfew — Financial Times (@FT) June 11, 2026 Demand in March and April was led by Southeast Asia and Africa, highlighting “how swaths of the oil-dependent developing world have emerged as key markets…

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Let’s explore why central bankers’ top reserve asset is not US debt anymore

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  • Post last modified:9 June 2026
Let’s explore why central bankers’ top reserve asset is not US debt anymore

Globally, central banks now hold 27% of their reserve assets in gold, surpassing US dollar Treasuries at 22%, and just a year ago this was 20% gold versus 25% Treasuries, according to the latest report by the European Central Bank. In 2023, gold’s share was just 16%. Since the Russia-Ukraine war in 2022, China has purchased over 350 tonnes of gold, followed by Poland (320 tonnes), Türkiye (220 tonnes) and India (130 tonnes), according to the ECB, as geopolitical tensions continued to drive strong central bank demand for gold. According to the FT: The shifting composition of reserve assets — highly…

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Chevron CEO shrugs off Hormuz toll, but can he really?

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  • Post last modified:9 June 2026
Chevron CEO shrugs off Hormuz toll, but can he really?

Chevron CEO, Mike Wirth, who is the money behind Donald Trump, said his company would not pay a toll to enter the Strait of Hormuz, claiming it is “international waters”. Trump recently threatened to blow up Oman if it, along with Iran, were to charge a toll on the ships passing through the Strait of Hormuz. Alongside Wirth, Trump also alleged the strait is international waters. The question is: do these Americans really have a choice? Chevron has six vessels under charter in the strait Iran has said: The process of ships passing through the Strait of Hormuz by Iran is…

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Hindutva’s red carpet to US tech is an own goal

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  • Post last modified:8 June 2026
Hindutva’s red carpet to US tech is an own goal

US Deputy Secretary of State Christopher Landau recently said the quiet part out loud, stating that the US will not let India develop like China. Landau’s remarks are honest about what the USA sees India as: a periphery country, needed to extract profits from by exploiting its low wages, decimating its environment, and plundering its resources. This is similar to how Britain, in 1947, used the sterling balances negotiations to restrict India’s industrial development. Though Britain owed India over £1 billion from World War II, Whitehall froze these funds. Britain leveraged “informational asymmetries while Indian sovereignties were in flux,” which ensured…

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