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Trump Takes Maiden Flight On New Air Force One Jet

Trump Takes Maiden Flight On New Air Force One Jet

Authored by Jacob Burg via The Epoch Times,

Ahead of a trip to North Dakota on July 1 to honor the opening of the Theodore Roosevelt Presidential Library, President Donald Trump officially debuted a refurbished Boeing 747-8 luxury jet that will serve as the interim Air Force One.

President Donald Trump pumps his fist after touring the inside of the newest aircraft in the presidential fleet at Andrews Air Force Base, Md., on June 19, 2026. The Qatari royal family gifted the $400 million, Boeing 747-8 to be used as the new Air Force One. Alex Wong/Getty Images

Set to open on Saturday in Medora, North Dakota, the 96,000-square-foot facility is carved out of local soil and overlooks the Theodore Roosevelt National Park, among the rugged Badlands where the former president spent many of his formative years.

Trump is honoring Roosevelt ahead of the nation’s 250th anniversary on July 4, and Wednesday’s trip marks the new plane’s inaugural flight as the interim Air Force One.

The Qatari government gifted the $400 million Boeing 747-8 luxury jet to the federal government last year, and it is one of the largest gifts Washington has ever received.

At the time, the gift drew scrutiny from across the political spectrum, including among some of the president’s base.

When the Air Force first unveiled the plane earlier this month, it said the modified jet was up to the military’s security standards.

“We’re very proud of this. The country is very proud of it, and you can do two things: you can low-key it, or you can show it,” Trump told reporters on the tarmac before departing for North Dakota on Wednesday.

When asked how much taxpayer money was required to refurbish and upgrade the plane to meet security standards, Trump said, “very little relative to what it would cost if we did it a different way.”

Frankly, we couldn’t build a plane like this because we wouldn’t be willing to spend the kind of money necessary. [Qatar] spent top dollars,” Trump said.

“I went to Qatar and said, ‘I’d like to use it for a period of time,’ because the other ones, as you know, are under construction; they’ll be here in two years, and because you know the [former Air Force One] is 35 years old.”

The three new Boeing 747-8 jets that will serve as the new Air Force One fleet under the VC-25B program are still being prepared and are not expected to be flight-ready until mid-2028.

While built on the 747-8 airframe, the VC-25B jets come with critical upgrades, including advanced technology and “increased capacity and further enhanced capabilities for presidential travel,” according to Boeing.

Jackson Richman and Reuters contributed to this report.

Tyler Durden
Wed, 07/01/2026 – 22:30

Executive Order Execution: Three Reactors Achieved Criticality Before July 4th

Executive Order Execution: Three Reactors Achieved Criticality Before July 4th

On July 1st, the Department of Energy (DOE) announced microreactor developer Deployable Energy had achieved criticality on their Unity reactor design at Idaho National Labs (INL). 

This is the third privately developed and funded reactor to have obtained the nuclear milestone of sustaining a chain reaction of fissioning uranium atoms inside of a reactor core.

Executive Order 14301, “Reforming Nuclear Reactor Testing at the Department of Energy”, was the starting point. The executive order contained, among many other things, a goal for the DOE to start up a reactor testing program that enabled rapid iteration and commercialization of advanced nuclear technology.

Soon after, the DOE launched the Reactor Pilot Program (RPP), as well as a sister program to fuel these reactors (in the future) called the Fuel Line Pilot Program (FLPP).

The selectees of the RPP included 11 different reactor projects:

  • Aalo Atomics Inc.
  • Antares Nuclear Inc. 
  • Atomic Alchemy Inc.
  • Deep Fission Inc. 
  • Last Energy Inc. 
  • Oklo Inc. (two projects)
  • Natura Resources LLC
  • Radiant Industries Inc. 
  • Terrestrial Energy Inc. 
  • Valar Atomics Inc.

Over the next several months, the developers raced to iterate through their designs with the goal of achieving criticality before America’s birthday, this upcoming weekend. 

First, Antares achieved zero power criticality on their sodium heat pipe design in the beginning of June. This was followed a couple weeks later when Valar achieved criticality on their gas reactor in Utah. Valar took the testing a step further to actually producing nuclear heat and performing critical safety tests on a live stream.

And just before reaching the July 4th holiday, Deployable Energy announced their success in achieving a chain reaction of fission in their core. 

Deployable Energy’s success is most notable because the company was not even a part of the RPP. The company was achieving iteration and criticality of their reactor design under the more recently launched Nuclear Energy Launch Pad. This program is the long-term successor project that will succeed the RPP in the FLPP for the years to come.

Multiple other companies are still in pursuit of initial criticality, which will enable them to continue on their path of iteration and preparation for commercializing their designs under the Nuclear Regulatory Commission. This includes companies like Oklo, Radiant, and Aalo. 
 

Tyler Durden
Wed, 07/01/2026 – 22:00

Justice Department To Prioritize Birth Tourism Probes After Supreme Court Ruling

Justice Department To Prioritize Birth Tourism Probes After Supreme Court Ruling

Authored by Aldgra Fredly via The Epoch Times,

Federal prosecutors on June 30 were directed to prioritize investigations into “birth tourism” schemes after the Supreme Court struck down President Donald Trump’s executive order ending birthright citizenship for children born to illegal immigrants.

Migrants, including a pregnant Haitian woman seeking to give birth in the United States, are apprehended by a U.S. Border Patrol agent in Yuma, Ariz., on Dec. 7, 2021. John Moore/Getty Images

Colin McDonald, the Justice Department’s assistant attorney general for fraud, said in a memo to department employees that the U.S. immigration system is being exploited by foreign nationals who travel to the country “under false pretenses” to give birth and secure U.S. citizenship for their children.

He instructed all U.S. attorneys and the Criminal Division to work with the Department of Homeland Security to investigate and prosecute those involved in such schemes.

“The Department of Justice will investigate and hold accountable those who engage in this unlawful conduct, as well as those who solicit and sell these criminal services to others,” McDonald said.

The memo cites some cases related to birth tourism schemes, including one from 2024 that involved a couple who allegedly helped Chinese nationals to give birth in the United States in exchange for money.

The couple, identified as Wei Yueh Liu and Jing Dong, operated a business called “USA Happy Baby Inc.” that helped Chinese nationals obtain fraudulent visas to enter the United States. They also provided housing and coached their customers on how to hide their pregnancies from immigration authorities, according to the department. The two were each sentenced to 41 months in prison.

In another case, a Chinese fugitive named Chao “Edwin” Chen allegedly ran a “large-scale birth tourism scheme” that charged hundreds of thousands of dollars to help foreign nationals give birth in the United States. The department said Chen’s business claimed to have a “100-person team” in China and the United States and to have served more than 500 Chinese birth tourism customers.

As these examples make clear, birth tourism schemes exploit our immigration system and violate criminal law,” McDonald said.

Many birth tourism-related cases were prosecuted as visa fraud. McDonald said federal prosecutors should consider prosecuting the schemes under laws covering wire fraud, money laundering, illegal use of a means of identification, identity theft, and conspiracy to commit healthcare fraud.

Trump’s order on birthright citizenship, issued on Jan. 20, 2025, stated that the 14th Amendment’s citizenship clause does not extend citizenship universally to everyone born within the United States.

According to the order, a person born in the United States is not “subject to the jurisdiction thereof” if his or her mother was unlawfully present in the country and the individual’s father was not a U.S. citizen or lawful permanent resident at the time of the person’s birth.

However, the Supreme Court ruled on June 30 that Trump’s executive order ran counter to the U.S. Constitution.

Chief Justice John Roberts, who authored the majority opinion, said that the Constitution’s 14th Amendment covers even children birthed by illegal immigrants, citing English legal doctrine that generally treats any person born in a country as a citizen of that country.

After the ruling, Trump posted on Truth Social urging Congress to work on legislation that would restrict birthright citizenship.

“Congress should start TODAY to work on ending expensive and unfair to our Country, Birthright Citizenship,” the president said. “They will have my Complete and Total Support!”

Zachary Stieber contributed to this report.

Tyler Durden
Wed, 07/01/2026 – 21:30

Vance Warns ‘US Has Options’ As Iran Rejects Direct Doha Talks – Trump Insists Diplomacy Is ‘Very Good’

Vance Warns ‘US Has Options’ As Iran Rejects Direct Doha Talks – Trump Insists Diplomacy Is ‘Very Good’

Update(1315): The American side is keeping up the illusion of progress on Iran talks, even as Tehran has once again on Wednesday confirmed no direct meeting has taken in place in Doha – nor are there plans for direct dialogue, its deputy FM has said. President Trump has simultaneously hailed “very good” talks on Iran in Doha – apparently just referencing envoys Witkoff and Kushner merely dialoguing with third country intermediaries. 

On the same day, Vice President JD Vance played a little ‘bad cop’ – warning that if Iran fails to acquiesce and destabilizes the region that the US could respond, escalating in several ways. “If Iran attempts to rebuild its nuclear program, threaten its neighbors and support terrorism, President Trump has options to deal with it,” Vance said, without specifying further. Earlier the WSJ stated that Trump had been briefed on several military options – including ‘all-out war’; however, the US president is said to want to give diplomacy more time.

Vance additionally stated that the US “dropped bombs on Iran because it fired on ships, and we used leverage to ensure safe passage through the Strait of Hormuz” – and suggested this could be done again. He also mentioned that current indirect Doha talks are “to discuss the details and flow of maritime traffic.” According to more:

Addressing troops at a naval air base in Virginia, US Vice President JD Vance says Iran’s nuclear program has been set back decades thanks to American military strikes against it.

“If you look at what our own intelligence says about their nuclear program, they are further away from developing a nuclear bomb than they have ever been since basically the last 20 or 30 years,” Vance says, stopping short of US President Donald Trump’s claim that Iran’s nuclear program has been “totally obliterated.”

“What the president asks you to accomplish is to destroy the defense industrial base of that country, so that if they ever decided to rebuild their military, or if they ever decided to rebuild that nuclear program, they would be harmless to do it. You did that exactly as well,” Vance tells the US troops.

Iran has meanwhile consistently denied that it is pursuing nuclear weapons, but very likely many IRGC hardliners are calling for just that.

On the Hormuz front, the US believes it is regaining leverage:

  • US SEES 10 MILLION BARRELS VIA HORMUZ SAPPING IRAN OIL LEVERAGE
  • VANCE: WE’VE HAD FREE COMMERCIAL TRANSIT FOR LAST THREE DAYS
  • VANCE: WE CAN’T DROP BOMBS  FOR SAKE OF DROPPING BOMBS
  • VANCE: IF IRAN TRIES TO REBUILD NUCLEAR PROGRAM, US HAS OPTIONS

*  *  *

President Trump started this week by claiming that Iran had “requested” direct talks in Qatar, but as of yet the ground reality in Doha is that Iranian officials have refused, leaving US representatives Steve Witkoff and Jared Kushner to just bide their time and deal with Qatari and Pakistani intermediaries.

In this context of Tehran putting direct contacts on hold, Trump has reportedly been briefed on options for a possible return to broader war with Iran, but has for now opted to continue diplomatic negotiations, according to a report by the Wall Street Journal citing admin officials.

Source: White House/Getty Images

The late Monday report described that discussions on “all-out war” planning involved War Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine, with the focus of the briefing described as assessing whether the United States should abandon talks with Tehran and resume full-scale military strikes. The Journal characterized, citing the officials, the latter option as

…a move some of them describe as “finishing the job.” While not making a final decision, Trump has told aides he believes another round of full-scale attacks could derail diplomacy and hurt Washington’s chances of ultimately dismantling Iran’s nuclear program.

While Trump is said to be leaning toward diplomacy, the report suggests he had not made a final decision yet, as new large-scale strikes would certainly destroy already fragile negotiations.

The WSJ further specified the president has told advisers he is ready to allow nuclear negotiations with Tehran to extend beyond an August 18 deadline, giving breathing room and flexibility for talks to produce real results.

It should be noted that the Pentagon and US intelligence community routinely present ‘options’ for the Commander-in-Chief:

Pentagon briefings on a president’s military options in a conflict aren’t unusual, with Trump routinely holding formal and impromptu meetings on Iran. But the latest discussions suggest he is looking for ways to break the deadlock with Tehran and hasn’t yet ruled out a return to fighting. Resuming the conflict, some officials acknowledge, would be a tacit admission that the much-touted Iran deal failed.

Central sticking points remain the initial release of $6 billion in Iranian frozen assets, and the question of tolls or fees for Hormuz Strait passage. The US side has yet to see enough good behavior from Iran to release the funds – but perhaps the administration is more worried about domestic criticism from the hawks. Neither side has found agreement for moving forward.

In the meantime so-called hardliners within Iran are putting pressure on their negotiators to make Washington ‘pay’ if it won’t honor its agreements outlined in the MoU. As geopolitical blog Moon of Alabama has laid out:

The U.S. is obviously not willing to fulfill the conditions set out in its Memorandum of Understanding with Iran. It will need more pressure from Iran to make the U.S. agree to its demands.

The current team of Iranian leaders who had negotiated and signed the MoU are President Masoud Pezeshkian -a good heart surgeon but unexperienced politician-, Speaker of the Parliament Mohammad Bagher Ghalibaf -a former IRGC leader and professional politician-, and Foreign Minister Abbas Araghchi -a longtime professional diplomat.

All three are now under critique for multiple breaches of the MoU by the U.S. and the perceived lack of Iranian responses to those.

Some 68 members of 88 men strong Assembly of Experts have published (in Farsi, in in English) a strong admonishing advice to the negotiators to stick to the ten points the Supreme Leader of Iran had defined.

The Assembly of Experts is the elected board of senior Islamic jurists which can elect and disposes of the Supreme Leader. It is residing in Qom. Its assembly building had been destroyed in one of the U.S. attacks on Iran.

The Assembly’s statement from just days stated in part, “In accordance with the commitment of the respected officials to the leadership and the people, it is expected that any breach of the agreement and violation of the clauses of the memorandum of understanding will be responded to immediately.”

The Iranian Foreign Minister’s own rhetoric has grown more pointed and heated at this point:

So far, the White House has tended to ignore such strong rhetoric coming from Araghchi – again, likely not willing to damage negotiations all based on some social media tit-for-tat exchanges.

But all of this without doubt demonstrates that Tehran won’t so easily bend, and the two sides could be headed toward more direct clashes as absolutist demands and interpretations keep being presented.

Tyler Durden
Wed, 07/01/2026 – 21:15

US B-2 Bomber Showcases Ability To Launch Stealth Anti-Ship Missile For First Time

US B-2 Bomber Showcases Ability To Launch Stealth Anti-Ship Missile For First Time

Authored by Ryan Morgan via The Epoch Times,

The U.S. Air Force confirmed, for the first time, that a B-2 Spirit stealth bomber successfully launched an AGM-158C Long-Range Anti-Ship Missile (LRASM) against a target vessel during a naval exercise.

A U.S. Air Force B-2 Spirit Stealth Bomber, assigned to the 509th Bomb Wing, deploys an AGM-158C Long Range Anti-Ship Missile to support a live-fire sinking exercise as part of Valiant Shield 2026 over the Philippine Sea, June 27, 2026. U.S. Air Force/Tech Sgt. Thomas Barley

Designed as a stealthy anti-ship cruise missile with semi-autonomous targeting capabilities, the LRASM reached early operational capability with U.S. combat aircraft in 2018. The pairing of this missile with the B-2, however, is a newly disclosed capability.

A B-2 demonstrated the LRASM launch capability during Valiant Shield 26, a multinational joint exercise that involved the sinking of the decommissioned amphibious transport dock ship USS Juneau on June 27. The sinking exercise took place in an area of the Philippine Sea north of the Marianas Islands.

This is the first time we have publicly released the B-2’s demonstrated ability to carry and deploy an AGM-138C LRASM,” an Air Force spokesperson said in an emailed statement to The Epoch Times on June 30.

The pairing of the stealthy anti-ship missile and the stealth bomber could enhance their effectiveness against adversary forces, and is particularly relevant in a potential conflict in the Indo-Pacific region, where China has rapidly expanded its naval forces in recent years.

In 2020, China overtook the United States as the nation with the most warships, and has continued to modernize its naval forces in the years since.

“The B-2’s impressive performance underscores the US military’s commitment to adaptability and flexibility in the face of emerging security challenges,” Gen. Kevin B. Schneider, the commander of the Pacific Air Forces, said in a June 29 statement.

By prioritizing counter-maritime strike operations, we can maintain a decisive edge over adversaries, protect our national interests and ensure the free and open Pacific that underpins our global security.

Last year, the U.S. military demonstrated the stealth prowess of the B-2 by using the bombers to breach Iran’s air defense network to deliver a set of strikes targeting Iranian nuclear facilities.

U.S. military analysts have assessed that China is gearing its military development toward what’s known as an Anti-Access/Area Denial (A2AD) strategy, wherein they may quickly lay claim to a sea region and then install defensive measures that make it hard for outside forces to intervene.

The U.S. military has hoped to position the LRASM as a counter to the A2AD strategy by designing it to be less reliant on external guidance systems, which may be limited in a U.S.-China conflict.

Lockheed Martin developed the LRASM for the U.S. Air Force and U.S. Navy. The missile was first integrated with the Air Force’s B-1B Lancer bomber and the Navy’s F/A-18 Super Hornet fighter jet.

Efforts are underway to integrate the LRASM with other aircraft, including the F-35 Lightning II stealth fighter, the F-15 Strike Eagle fighter jet, and the P-8A Poseidon maritime patrol aircraft.

Since 2020, the U.S. government has also sold LRASMs to Australia to integrate with their F/A-18 fleet.

Tyler Durden
Wed, 07/01/2026 – 20:30

Nancy Pelosi Institute To Launch At UC Berkeley After Former Speaker Leaves Congress

Nancy Pelosi Institute To Launch At UC Berkeley After Former Speaker Leaves Congress

Authored by AG News Staff via American Greatness,

Former House Speaker Nancy Pelosi will lend her name to a new institute at the University of California, Berkeley after retiring from Congress, with the university announcing it has already raised $35 million toward a $50 million fundraising goal.

The Nancy Pelosi Institute for Representative Democracy is scheduled to open in January 2027, when Pelosi is expected to leave Congress.

According to the university, the institute will serve as a center for research, teaching and civic engagement focused on representative democracy and public leadership. Pelosi also is expected to co-teach a course on Congress.

UC Berkeley said the institute will focus on four primary areas: strengthening American democracy, addressing major social, economic and environmental challenges, promoting human and civil rights, and “ensuring political leadership that represents the full spectrum of perspectives and backgrounds in California and the country.”

The university said the institute’s location at UC Berkeley would give a diverse student body, including first-generation and low-income students, access to opportunities often associated with Ivy League institutions.

The work of democracy is never finished, and securing its future is our greatest calling,” Pelosi said in a statement. “UC Berkeley has a long, proud history of challenging the status quo and producing leaders who run toward the greatest challenges of our time. I am honored to partner with this exceptional community of scholars and students so we can equip the next generation with the tools they need to strengthen our democratic institutions and forge a future that serves the public good.”

UC Berkeley Chancellor Rich Lyons said the institute would combine the university’s faculty and students to advance its mission.

We intend to do more than simply study democracy; we are building this institute to strengthen it,” Lyons said.

The institute will be established at UC Berkeley, a university known for progressive activism, and will open after Pelosi concludes her congressional career.

Pelosi, 86, served two terms as House speaker and remains the only woman to hold the position. She served from 2007 to 2011 and again from 2019 to 2023.

Tyler Durden
Wed, 07/01/2026 – 19:30

Meet The “World’s Most Dangerous” Hotel That Leaves Guests Stranded 35 Miles Offshore

Meet The “World’s Most Dangerous” Hotel That Leaves Guests Stranded 35 Miles Offshore

A remote former Coast Guard tower off the coast of North Carolina has become one of the country’s most unusual vacation destinations, with thrill-seekers paying to spend days stranded 35 miles out in the Atlantic on what’s been dubbed the world’s most dangerous hotel, according to the NY Post.

Interest in Frying Pan Tower recently surged after charter captain Austin Aycock posted a TikTok showing six guests being dropped off at the rusting structure before he motored away, joking, “See you in a couple days!” The video has attracted more than 2.2 million views, with viewers split between fascination and disbelief.

(Photos: NY Post)

Built in 1964, the decommissioned light station sits about 80 feet above the ocean in an area known as the “Graveyard of the Atlantic.” Once guests arrive, there’s no easy way back. Leaving requires either a helicopter or a 35-mile boat ride to shore.

The Post writes that rates start at about $200 per person per night with a three-night minimum stay. Aycock said one particularly adventurous group remained on the tower for two weeks.

The location isn’t for the faint of heart. The surrounding waters are home to great white, bull, and tiger sharks, while the tower sits in hurricane-prone waters where storms can bring winds exceeding 100 mph. Medical emergencies also present a challenge due to the remote location.

(Photos: NY Post)

Despite its isolation, the tower can accommodate up to 12 guests across eight bedrooms and offers modern comforts including solar power, high-speed internet, hot showers, a fully equipped kitchen, and a reverse osmosis water system.

Visitors can fish, snorkel over a nearby reef, shoot biodegradable clay targets, or hit fish-food golf balls into the ocean. A professional chef is also available for private groups, while the massive helipad doubles as a scenic spot for stargazing and watching the sunrise.

The viral video sparked plenty of reactions online. Some commenters said nothing could convince them to stay overnight, while others joked the tower would be the perfect place to hide from a zombie apocalypse. One viewer summed up the skepticism by asking, “What’s the opposite of a bucket list?”

Tyler Durden
Wed, 07/01/2026 – 19:05

As Democrats Freak Out Over Socialist Takeover, Kamala Harris Speaks With Zohran Mamdani

As Democrats Freak Out Over Socialist Takeover, Kamala Harris Speaks With Zohran Mamdani

In the same week Democrats began sounding alarms over radical left-wing revolutionaries gaining power and hijacking the party, there is a new report from Axios that Kamala Harris privately spoke with far-left New York City Mayor Zohran Mamdani and held closed-door meetings with progressives, including pro-Palestinian activists, as she appears to lay the groundwork for a potential 2028 White House run.

Axios reported, “Harris, who occasionally has texted with Mamdani in the past few months, called him two days after the mayor’s handpicked candidates swept three congressional races in New York City, ousting a pair of incumbents.”

It’s the latest sign the former vice president is laying the groundwork for a potential White House run in 2028 — and is looking to strengthen or repair her relationships with left-wing Democrats,” the report said.

Axios did not reveal the specifics of the conversation, but the timing is telling.

Democratic Party elites are increasingly fearful that Democratic Socialists are gaining real power inside the party, and Harris’ private outreach to Mamdani suggests she understands the far left may be impossible to ignore ahead of 2028.

The wake-up call for the Democratic Party came last week in New York City, where Democratic Socialists scored closely watched House primary victories over candidates backed by House Democratic Leader Hakeem Jeffries.

The result sparked panic inside the party, as establishment Democrats went to MSM to rant:

Veteran Democratic strategist James Carville/ New York (D) Congressman Tom Suozzi

New York Attorney General Letitia James

Sen. Elissa Slotkin, D-Mich

Hakeem Jeffries

Our take is that Harris might not just be repairing relationships with socialists but also hedging against a party base that is quickly shifting far left as the establishment scrambles to contain it.

That’s because mainstream America might not be ready for a socialist takeover. The Trump team fired up their narrative machine and blasted the “communists” last week … Trump said on Truth Social last week:

“These are not social Democrats; these are hard-core, godless Communists. This is the most serious threat to our Country since its existence 250 years ago.”

Polymarket odds on Democratic Presidential Nominee 2028

Whether Harris asked Mamdani to dial back the socialist propaganda remains unknown as the party, with no guardrails, increasingly embraces socialism and Marxism – just as much of Latin America is eradicating far-left extremists from power.

Tyler Durden
Wed, 07/01/2026 – 18:15

Copper Demand Surges, But Supply Deficit Is Hard To Solve, Expert Says

Copper Demand Surges, But Supply Deficit Is Hard To Solve, Expert Says

Authored by Mary Prenon via The Epoch Times,

The ongoing artificial intelligence (AI) boom underscores a harder-to-resolve supply issue for copper, according to veteran natural resource investor Rick Rule.

Speaking recently with Siyamak Khorrami, host of EpochTV’s “Market Insider,” Rule said the increasingly energy-intensive lives people around the world are living have pushed up demand for copper. With companies and countries investing heavily in AI, future demand for the red metal will be “staggering,” he said.

At the same time, the world, especially the United States, doesn’t have enough copper development projects “in the pipeline,” Rule said, making a copper shortage and higher prices inevitable.

Growing Supply Deficit

According to the International Copper Study Group, global refined copper consumption rose to 28.2 million metric tons in 2025 from 25.8 million metric tons in 2022, while production increased to 28.6 million metric tons from 25.2 million metric tons over the same period. This represents a supply surplus of 400,000 metric tons.

However, given the essential role copper plays in electrification, digitalization, and technologies such as AI, data centers, electric vehicles, and defense, a January S&P Global study predicts that demand for the metal will rise to 42 million metric tons by 2040. The study also estimates that, without “meaningful supply expansion,” there could be a copper shortfall of about 10 million metric tons by then.

Copper prices have risen significantly. Copper futures on the New York Mercantile Exchange settled at $6.20 per pound on June 28, nearly doubling from their post-pandemic low of $3.23 per pound, reached on July 11, 2022.

The situation is more challenging for the United States. The country is a net copper importer, producing less than half of the refined copper it consumes. According to the United States Geological Survey, a scientific agency under the Department of the Interior, America produced 850,000 metric tons of refined copper in 2025 while consuming 2.2 million metric tons, resulting in a deficit of more than 1 million metric tons.

The United States is expected to remain a net importer of copper through 2040, with imported refined copper projected to account for about 70 percent of consumption, according to a June 23 SEC filing citing Wood Mackenzie data.

In November 2025, the Department of the Interior added copper to the U.S. Geological Survey’s critical minerals list.

Underinvestment

“In copper, we have been systemically underinvested in exploration, in construction, in development, and we’ve been doing so for 30 years,” Rule told Khorrami.

“This is a capital-intensive, long-term business. There is nothing we can do right now—nothing, not one thing—that will prevent a supply shortage within five years.”

Source: U.S. Geological Survey, Mineral Commodity Summaries 2025—Copper

Rule said developing a new copper mine is a very long process, taking about 10 years to explore and find a mine, three years to drill, three more years “in a good country” to secure a permit and funding, and two years to build—about 18 years in total.

“The difficulty is that people weren’t doing enough of this 18 years ago,” he said.

Wood Mackenzie estimated in a 2021 analysis that the world copper industry had committed around $120 billion in capital spending to maintain production at the time, offsetting the impact of grade decline and depletion.

“Nonetheless, without additional substantial investment, production will decline from 2024 onwards. Coupled with demand growth, this decline in output will lead to a theoretical shortfall of around [16 million metric tons] by 2040,” the analysis states. To close the copper supply shortfall, the analysis said, the industry would need about $325 billion in additional investment.

“The industry is looking right down the barrel at an incredible capital spend to merely maintain current production levels, never mind increase it to meet the demands of rural electrification in the third world, data centers, electric vehicles, the electrification of everything,” Rule said.

“If you believe the numbers that people like Google and Amazon are putting out in terms of their data center demands, we will need to produce more copper between 2026 and 2050—24 short years—than has been mined in the history of mankind,” he said.

Rule said the industry has entered a copper construction cycle.

“For a long time, when copper was languishing at $3 a pound, the industry didn’t make enough money to build new mines; $6 a pound is not a bad incentive price.”

Permitting Hurdles

However, he said there are currently few construction-ready projects due to decades of underinvestment in mineral exploration. In the United States, he added, the permitting process is a major hurdle for these projects to move forward.

For example, Rule said the Resolution Copper project, jointly owned by Australian mining giants Rio Tinto and BHP and located in Arizona, is a high-quality copper deposit and well-located, but has been waiting more than a decade for a permit.

According to Rio Tinto’s website, if developed, the Resolution Copper project could be one of the largest copper mines in the United States, having the potential to supply up to one-quarter of the U.S. copper demand.

After decades of exploration, the Resolution deposit was officially discovered in 1995, according to the Department of Agriculture. It started the permitting process in 2013 and released its independent Final Environmental Impact Statement in 2019, entering a new phase of public consultation, according to a Rio Tinto press release. The company said in a March release that it had completed a key land exchange advancing the project toward development.

“All of this points to the fact that we’re going to have to get used to higher copper prices,” Rule said.

Tyler Durden
Wed, 07/01/2026 – 17:50

Man Who Sued Pepsi Over Fighter Jet Finally Gets His Reward 30 Years Later

Man Who Sued Pepsi Over Fighter Jet Finally Gets His Reward 30 Years Later

Three decades after suing Pepsi for refusing to give him a fighter jet, John Leonard finally got a reward that may be even better, according to a post at Supercarblondie

Leonard became the center of one of advertising’s most famous legal battles after taking a 1996 Pepsi commercial at face value. The ad, promoting the company’s Pepsi Points loyalty program, jokingly claimed customers could redeem seven million Pepsi Points for a military Harrier jet.

Rather than laugh it off, the Seattle college student raised enough money to buy the required points and submitted a claim for the aircraft. Pepsi rejected it, insisting the jet was never a real prize.

The article says that the case went to court, where a judge ruled that no reasonable person would believe Pepsi was seriously offering a fighter jet in a soft drink promotion.

Although Leonard lost the lawsuit, the bizarre dispute became legendary and was later chronicled in the Netflix documentary Pepsi, Where’s My Jet?.

Now, nearly 30 years later, Frontier Airlines gave the story a happy ending. As part of a Super Bowl campaign called “The Big Redemption,” the airline converted Leonard’s original seven million Pepsi Points into seven million Frontier Miles, effectively giving him free flights for life.

The airline even featured Leonard in a tongue-in-cheek commercial, handing him the keys to an Airbus A320neo as a nod to the decades-old saga.

Now in his 50s with a wife and children, Leonard joked that unlimited airline miles are far more practical than owning and maintaining a military fighter jet. After waiting three decades, he never got the Harrier, but he may have received an even better prize.

Tyler Durden
Wed, 07/01/2026 – 17:25