Authored by Jonathan Turley via jonathanturley.org,

Various Democrats have been openly discussing their plans after retaking power to change the system so they never lose power again. Democratic strategist James Carville has been one of the most vocal and returned to the subject this week in laying out how they will make D.C. and Puerto Rico states and pack the Supreme Court with a liberal majority.

On his podcast with Al Hunt, Carville explained, “If the Democrats win the presidency and both houses of Congress, I think on day one, they should make Puerto Rico [and] D.C. a state, and they should expand the Supreme Court to 13. F— it. Eat our dust.”

Notably, this week, New Jersey just elected a radical new member, Analilia Mejia, who ran on packing the Court and other radical agenda items. While some of us have written about the expansion of the Court, these politicians and pundits are pushing for the packing, not just gradual expanding, of the Court.

However, Carville (curiously on a national podcast) seriously suggested that Democrats should keep the plan quiet: “Don’t run on it. Don’t talk about it. Just do it.”

Call it the Nike School of Constitutional Law.

The need of the left to pack the Supreme Court is obvious. Many of the proposals coming from the left are clearly unconstitutional. You will need a partisan majority to make the political changes that these figures hope will give the Democrats a lock on power for years to come.

Years ago, Harvard professor Michael Klarman laid out a radical agenda to change the system to guarantee Republicans “will never win another election.” However, he warned that “the Supreme Court could strike down everything I just described.” Therefore, the court must be packed in advance to allow these changes to occur.

Likewise, Carville previously explained how this process of how the pack-to-power plan would work:

“I’m going to tell you what’s going to happen. A Democrat is going to be elected in 2028. You know that. I know that. The Democratic president is going to announce a special transition advisory committee on the reform of the Supreme Court. They’re going to recommend that the number of Supreme Court justices go from nine to 13. That’s going to happen, people.”

The push for court packing and war chests on the left remains unchanged despite conservatives on the Court ruling against the Administration on major cases. Carville and others cannot claim that the conservative justices are robotically voting with the Administration, but it does not matter. They want a Court that will consistently uphold the changes being planned by Democratic strategists.

The fact that these changes would come after the 250th anniversary of the most successful democratic system in history is a crushing irony. However, it is notable that the Democrats want Congress and the courts to push through these changes, not the public. The public remains opposed to court packing and making D.C. a state. That is why Carville wants candidates to keep quiet on the plan and run, like Virginia’s Abigail Spanberger, as faux moderates. Then, as in Virginia, they can move to fundamentally change districts and rules to guarantee their hold on power.

It is a mentality summed up by NEA President Becky Pringle:

The question is whether rage politics can convince a people to destroy the very democratic system that has brought centuries of stability and prosperity.

Authored by James Howard Kunstler,

Showdown

“Everything that’s wrong is staring us right in the face, and half this country simply will not join us in fighting and fixing it. It’s infuriating and depressing and maddening.”

– James Woods on X

The closer this Iran war comes to a favorable resolution, the more garishly negative the puling Lefty-left gets, wishing fervently for the enemy to prevail. Why? Because the Lefty-left is also an enemy of our country. They want the operation to fail so they can reclaim power and resume wrecking and looting the USA.

By the way, what exactly would a favorable outcome of this war look like?

An Iran that doesn’t threaten nuclear jihad and doesn’t sponsor endless terror operations here, there, and everywhere. It looks like we are going to get to that. Iran’s choice is how deep do they want to take their own economic collapse before capitulating? If they’ll just stop now, they’ll still keep the lights on. They can be a normal, modern, developed nation without a death wish.

Anyway, the paradigm Iran was operating in as a rogue state is dead, especially the malign influence of Britain’s banking and MI6 intel matrix. Britain, proven by its actions to be not a friend of America. . . Britain, a wretched little has-been island empire with bad teeth, overrun by wrathful Islamists, and, alas, soon to be a caliphate.

President Donald Trump has rearranged the geopolitical landscape with startling speed and efficacy. Much of Europe, it turns out, are not our friends, either. They would not let us use the NATO bases we pay for to conduct air operations over Iran. Hence, NATO is four dead letters. They can go dangle while they figure out how to live without oil, possibly go back to their centuries-long condition as a nonstop slaughterhouse, besetting each other with stupid, age-old feuds. Not our problem anymore.

China?

Their Belt-and-Road isn’t what it was just six months ago. Mr. Trump has kicked them out of South America. Their oil supply is suddenly sketchy. Notice, they didn’t lend a hand helping to clear the Strait of Hormuz. Turned out that the radars and air defenses they gifted Iran didn’t work too well. Uncle Xi Pooh Bear will have to re-think situation.

Mr. Trump says he might travel to Pakistan this weekend if there are papers to sign with Iran.

Israel and Lebanon announced a ten-day truce to sort out where things stand. Both of them want Hezbollah expelled for good. Anyway, Hezbollah can no longer enjoy financial support from Iran, meaning no more munitions or salaries for Hezbollah warriors, meaning Hezbollah is out of business — a major regional irritant neutralized. Can you dare to imagine a peaceable Middle East?

So, things have changed-up greatly in this long-volatile corner of the world, and that will leave Mr. Trump freer to attend to the discord and animus at home, namely the psychopathic Democratic Party’s non-stop demolition of political norms, with assistance from the bureaucratic Deep State and the NGO underworld.

Just at hand this week, we have Director of National Intelligence Tulsi Gabbard sending criminal referrals to the DOJ on two key players (both liars) in Trump Impeachment No. 1: former Intel Inspector General Michael Atkinson and CIA agent “whistleblower” Eric Ciaramella — whose name the news media still fears to speak.

That impeachment, over the so-called “Ukraine phone call,” was from start to finish a complete fake, a criminal conspiracy. It involves a much larger cast-of-characters including then House Intel Committee Chair (now senator) Adam Schiff, then Secretary of State Mike Pompeo, CIA Director Gina Haspel, Chief Justice John Roberts, and virtually the whole Kiev US embassy staff at the time. Everybody involved was lying about one thing or another. The case is on Acting AG Todd Blanche’s desk now. Do you suppose it can just sit there?

It’s rumored that in the weeks ahead, Mr. Trump is fixing to conduct a declassification orgy of evidence unearthed by DNI Gabbard in the serial seditions run by US color revolutionists over the past decade. The presidential declass will obviate the usual tedious process of extracting declass permissions from every agency silo with a stake in the documents — meaning the evidence will go straight to US attorneys, including Jason Reding Quiñones, the United States Attorney for the Southern District of Florida, now running a grand jury out of Fort Pierce on the RussiaGate hoax.

Many of the players in that treasonous episode were involved in subsequent crimes against the nation: the 2020 election fraud; the Jan. 6 fed-provoked “insurrection” at the US Capitol; the fake House committee set up to pretend to investigate it; the Mar-a-Lago Raid; the multiple Trump prosecutions of 2024, the censorship campaign; and the manifold perfidious turpitudes of the “Joe Biden” administration, including the massive invasion of illegal immigrants.

It’s all going to come out now in one overwhelming puke-stream channeled into actual prosecutions. Only question is: will the massive revelation of truth prompt the millions of successfully brainwashed Americans to finally get their minds right over what has been perpetrated on our country?

Authored by Matt Margolis via PJMedia,com,

The midterm elections are coming up in November, and Democrats are generally favored to win the House, while the Senate is kind of a coin flip. While it would suck for Democrats to win the House because they’ll almost certainly find some bogus pretext to impeach President Donald Trump, there’s potentially more at stake regarding control of the Senate, including implications for confirming judges and potentially filling any potential Supreme Court vacancies.

No retirements have been announced, but speculation is mounting, and I’m starting to wonder if Trump knows vacancies are coming.

In a recent interview with Fox Business’ Maria Bartiromo, Trump confirmed he has a shortlist of potential nominees ready to go — and he’s prepared to fill as many as three seats if the opportunity arises.

“In theory, it’s two — you just read the statistics — it could be two, could be three, could be one,” Trump said.

“I don’t know. I’m prepared to do it. But when you mention Alito, he is a great justice.”

He added, “He does what’s right for the country. It’s the law, and he goes by it as much as anybody, but he gets to the point.”

High praise from a president who has been, let’s say, less enthusiastic about some of his own past nominees.

According to Fox News Digital, “Trump’s remarks sharpen the stakes around any potential vacancy, as the president has signaled he is ready to seize the opportunity to deepen the court’s conservative majority. With retirement speculation around Alito and Republicans eyeing the window before the 2026 midterms, the prospect of an opening is already putting fresh focus on succession politics.” 

Rumors about Alito, 76, potentially retiring have grown because of his age, his two-decade tenure on the bench and speculation that he may want to make sure a conservative successor is confirmed by the current Republican-led Senate, especially before the upcoming midterm elections in which Republicans are at risk of losing or seeing a diminished majority.

The rumors were further fueled when it was revealed Alito was treated last month for dehydration after becoming ill at a Federalist Society dinner. A Supreme Court spokesperson clarified at the time that the justice was “thoroughly checked” and returned to the bench the following Monday.

A source close to Alito insists he is not stepping down this term and is in the process of hiring the rest of his clerks for the next term. So at least for now, it sounds like he’s not going anywhere.

Yet, Trump is ready with a shortlist of replacements? Is that a tell that he knows something we don’t?

It could be. Or it’s just being prepared.

After watching some of his own nominees drift from his expectations on high-profile rulings, you can be certain he’ll be far more deliberate this time around. Whatever seats open up, expect Trump to treat the selection process with a level of scrutiny he may not have applied before.

The bigger picture here is worth appreciating.

No president since Ronald Reagan has reshaped the Supreme Court the way Trump has. His first three appointments — Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett — built the current 6-3 conservative majority. Trump may have an opportunity to secure a conservative majority for decades to come.

The question is, does he know that he will?

Mother Nature across the Mid-Atlantic can only be described by the Katy Perry lyric, “You’re hot, then you’re cold,” as a meteorologist warns that a “tropospheric polar vortex” will sweep across the Lower 48 this weekend into early next week, abruptly ending the summer-like conditions in Washington, D.C.

“A bulging lobe of the tropospheric ‘polar vortex’ will be tracking through the Lower 48, bringing a cold front and much cooler air to the Eastern U.S.,” meteorologist Ryan Maue wrote on X.

He added, “We’ll wave goodbye to the nearly unprecedented mid-April heat wave.”

A bulging lobe of the tropospheric “polar vortex” will be tracking through the Lower 48 bringing a cold front and much cooler air to the Eastern U.S.

We’ll wave goodbye to the nearly unprecedented mid-April heat wave. pic.twitter.com/gcgSX0Xwzo

— Ryan Maue (@RyanMaue) April 17, 2026

Folks in the Capitol Beltway will see a 40°F swing in high temperatures from yesterday’s 93°F to Monday’s 52°F, according to Bloomberg data.

Wild swing for DC high temps plus the forecast.

Average temperatures in Washington at this time of year typically run in the mid-50°Fs. Yet, like the Katy Perry lyric above, Mother Nature still cannot seem to settle on a steady rising temperature trend with Northern Hemisphere spring underway.

Related:

• Meteorologists Warn About Super El Nino Event

• Drought Engulfs 60% Of U.S. As Farmers Begin Spring Planting

Lefty MSM outlets would have us all believe that this schizophrenic weather is somehow because of cow farts and gasoline-powered cars and gas stoves, and we must be taxed to death to solve Al Gore’s global warming.

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

This is the only chart that matters right now…not borrowing costs (@lukegromen).

It’s the weekly chart of Brent Crude.

I’ve been telling my patrons for three weeks in the Market Reports that the Brent Crude chart has all the earmarks of a market being manipulated UP to support a narrative…

That narrative is Donald Trump is a madman who broke the world and is losing in Iran.

Look at the chart carefully, you see big gaps between weekly closes and opens. Also, note the tails to the downside versus the wicks to the upside. Tails are much longer than wicks…. telltale signs of a market that has topped but someone is trying to keep reflating it.

Why? Many reasons, from speculations, positions, narrative control, etc. Markets are the sum total of all of these players.

But the reality is that you can only manipulate a market over a short period of time (H/T@armstrongeconomics) unless you control the total pricing system for that market… i.e. central banks and currencies…. and why the gold and silver markets have been manipulated for years.

Oil is a market of immense volatility, with 5-year moving average of its Range/Price topping 7% on a weekly basis, which is in bitcoin territory. It should be the most boring market on the planet, since everyone depends on it. But it isn’t.

It trades like a penny stock on a double espresso. (H/T Dennis Miller).

Someone profits from that volatility. Someone works with others to create that volatility. All Roads don’t lead to DeMoines, FYI.

Oil volatility is the enemy of certainty. It retards investment in some cases and redirects it to other less viable investments in others… c.f. Wind, solar, LED lights, and all this Watermelon (Green on the outside, Commie Red on the inside) nonsense.

If we want a world of predictability, which is the essential purpose of Human Action (H/T Mises, something most Miseseans have forgotten), then we have to accept that sometimes we have to defend our right to a predictable future.

And no amount of asking for it nicely is going to get us there. We were never voting our way out of this.

That’s why I’ve been in full-throated favor of this conflict with Iran. It’s why I allowed myself to see the world differently than I did previously.

The Federal Reserve is just a tool. It can (and has) been a tool for evil, but it can also be a tool for good, like all technology. This is why SOFR was the beginning of this war, and why this morning’s announcement by Iran is end of the current battle in it. It should still be deprecated in importance, removed from duties it was never designed nor been allowed to perform.

The same can be said for the US military, which has been a tool used to enforce the “tyranny of evil men” (H/T Roger Avery & Quentin Tarantino, Pulp Fiction) on Wall St., Bay Street, K Street, and 10 Downing Street. But, like the Fed, it can be used judiciously, to serve humanity with the right set of circumstances and the right mission.

It did so.

We’ve been blackmailed by evil people for generations to accept this lack of investment certainty to indulge our cynicism, or lack of faith in humanity.

We chuckled in “Collapsitarian” for too many years. And I, frankly, just got sick of it.

It’s pathetic and evil and we shouldn’t tolerate it in them or ourselves for another gods-damned minute. Period. It’s anathema to human life, common decency, and civilization itself.

This is the truth. And it all goes back to the intersection of selling narrative while hitting desperate people where they live and breathe… in their pocketbooks.

In the end, oil prices want to fall because the fundamentals are bearish (H/T @DoombergT). There is no Peak Oil. There is no Green New Deal.

There is only Zul…. okay, maybe not Zul. *grin*

This chart is your literal snapshot of a pricing control system being destroyed in real time… by one guy, Donald J. Trump, with support from his Treasury Sec. Scott Bessent, Sec. War Pete Hegseth and his merry band of warfighters, and his Sec. of State Marco Rubio.

He has both exposed and stolen London’s control over oil flows to support its centuries-old evil by the studious application of Gold (dollars), Goats (American Industrial Might) ‘n Guns (Brrrrrt!).

Stew all you want, haters. But, he’s done it. The Hormuz Blackmail is done.

Trump has his hand on the global oil spigot now… and he can turn the volatility up or down. The US is the global price setter now, like it or not.

… Why?

Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.

An armada of at least eight oil tankers set off toward the Strait of Hormuz immediately after Iran’s foreign minister said the vital waterway was fully open to shipping.

Five of the carriers, which had been anchored north of Dubai, were moving into the waterway on Friday afternoon, soon after Iran’s foreign minister said it was completely open, vessel tracking data compiled by Bloomberg show. Three more, which were waiting about 70 miles west, have also begun moving in the direction of the strait.

The tankers moved despite reports in Iranian media that suggested the country was still seeking to impose restrictions. Iran’s Tasnim news agency reported that ships and cargoes linked to “hostile” countries would not be allowed through (in other words, no change from before). Passage via Strait of Hormuz will be closed if US naval blockade continues as it will be considered a violation of the ceasefire, the country’s Fars news agency reported. At the same time, Trump said that Iran-aligned ships would be barred passage as per the recently announced blockade until a ceasefire is finalized. 

The U.S. naval blockade continues… pic.twitter.com/EBvglrf6FA

— U.S. Central Command (@CENTCOM) April 17, 2026

Hundreds of tankers have been stuck in the Persian Gulf as a result of the Middle East conflict, and the decision to transit depends on the owners, captains and crews. Several ship owners earlier told Bloomberg they were seeking more information before they would be ready to consider transiting.

Earlier in the day, before the news that the Strait had reopened, we learned that a Greek shipowner whose vessels have repeatedly braved the Strait of Hormuz during the Iran war, sent through its biggest oil supertanker since the start of the conflict. The Atokos, a VLCC with a transport capacity of about 2 million barrels, signaled its location in the Indian Ocean on Friday. That would suggest it navigated Hormuz, with its digital transponder off, over the past several days.

The closure of the strait caused a surge in oil, fuel and natural gas prices as it choked off a swath of shipments and caused the region’s top producers to cut output. 

It’s not just tankers: according to MarineTraffic, today also saw the first cruise ship transit the Strait since conflict began. The cruise ship Celestyal Discovery has become the first passenger vessel to transit the Strait of Hormuz since the start of the conflict. The Malta-flagged vessel departed Dubai on 17 April after remaining docked

First cruise ship transits Strait of Hormuz since conflict began

The cruise ship Celestyal Discovery has become the first passenger vessel to transit the Strait of Hormuz since the start of the conflict. The Malta-flagged vessel departed Dubai on 17 April after remaining docked… pic.twitter.com/3wR1P6Lc6G

— MarineTraffic (@MarineTraffic) April 17, 2026

And merchant ships are also rushing to cross the strait before Iran changes it mind. 

🚢 Several Merchant Vessels that were anchored near the UAE have now decided to cross the strait of Hormuz, right after the recent announcement from Iran. https://t.co/XVDFQim98Y pic.twitter.com/dBXWs8Mgoi

— MenchOsint (@MenchOsint) April 17, 2026

If all the ships ships headed for the strait are able to continue their voyages into the Gulf of Oman and the Arabian Sea beyond, their movements would be among the clearest signs yet that Hormuz might finally be opening up to shipping that isn’t connected to Iran since the war began on Feb. 28.

More importantly, amid the constant headline ping pong, there remains lots of confusion as to the actual state of affairs, although as we reported previously, the only thing that matters in this entire conflict is whether the Strait is reopened: in a few hours we will have the answer. 

Authored by Aldgra Fredly via The Epoch Times,

The U.S. Senate narrowly voted on April 16 to overturn a 20-year mining ban imposed by the former Biden administration on a national forest in northeastern Minnesota.

The measure, which passed 50–49 and will now advance to President Donald Trump’s desk, will reverse the previous administration’s mining ban on 225,504 acres in the Superior National Forest and pave the way for Twin Metals, a subsidiary of Chile-based Antofagasta, to carry out mining activities in the area.

Rep. Pete Stauber (R-Minn.), who sponsored the legislation, said on X that he was thankful for the Senate’s decision to approve the bill. The House approved the bill on Jan. 21.

“A major victory for America and Minnesota’s 8th Congressional District was secured today,” he wrote on X.

“Mining is our past, our present, and our future – and the future looks bright!”

The Biden administration imposed an order in 2023 to block mining in the Boundary Waters Canoe Area Wilderness and the surrounding watershed located in the Superior National Forest for 20 years. But Stauber said on Jan. 12 that the former administration did not properly transmit the required notice to Congress about the ban.

The vote to overturn the ban came under the Congressional Review Act, which gives Congress the authority to review and disapprove federal actions within 60 Senate session days of the action’s submission.

The Sierra Club, which has opposed overturning the ban, said mineral mining bans had not been considered rules that are subject to the Congressional Review Act in past administrations.

“The Boundary Waters is one of the country’s most iconic wilderness areas, visited by thousands every year. It should be a place for recreation and conservation, not for pollution and exploitation,” Athan Manuel, director of the Sierra Club’s land protection program, said in a statement.

Save the Boundary Waters, a nonprofit advocacy group, said the Senate’s passage of the measure “sets a dangerous precedent for public lands nationwide.”

“We’re not done fighting. There are still paths to stop this mine,” the group said in a post on X.

If the ban is lifted, the Trump administration will be free to reissue mining leases to Twin Metals, which has been trying to develop the mine for decades on land controlled by the federal government. The mine would need to undergo an environmental review and obtain permits.

Twin Metals said in a statement to multiple news outlets that the bill’s passage marked “a critical moment” for the United States’ efforts to strengthen its mineral supply chains.

“The Twin Metals team ​looks forward to a robust discussion and engagement with our communities through any future regulatory processes,” Twin Metals spokeswoman Kathy Graul said.

Summary

• Trump Praises Iran for Fully Reopening Hormuz Chokepoint; Crude Tanks, Yields Dump, Equity Futs Up; Follows by claiming Iran will ‘never again’ close it; FARS soon after contradicts in fresh threat.

• Iran’s Aragchi says “Strait of Hormuz is declared completely open”. However, Iranian official tells FARS: “If the maritime blockade continues, it will be considered a violation of the ceasefire, & the Strait of Hormuz transit route will be closed.”

• US mulls cash-for-uranium deal as ‘three-page’ MOU peace plan takes shape. Trump claims US will get the ‘nuclear dust’ – Iran official denies.

• Peace talks reportedly on Sunday in Islamabad. Trump: “Most of the main points are finalized. It’ll go pretty quickly.”

Odds of a permanent peace deal by the end of the ceasefire are soaring above 50% by the end of the month…

Huge Denial by Iran

Iranian source in conversation with Al-Arabi Al-Jadeed: Trump’s claim about the delivery of Iran’s enriched uranium is baseless. Per the report:

• Iranian source in conversation with Al-Arabi Al-Jadeed: Only civilian ships can pass through the Strait of Hormuz, and that too through routes specified by Iran. The announcement of the temporary opening of the Strait of Hormuz has nothing to do with the current negotiations with Washington.
• We waited a few hours to make sure that a ceasefire had been established in Lebanon; then we temporarily opened the Strait of Hormuz. The announcement of the temporary opening of the Strait of Hormuz and the ceasefire in Lebanon are part of the agreement.
• Negotiations on the issues of dispute with the United States are still ongoing, but due to Washington’s excessive demands, there is no clear perspective.
• Washington’s demands in the negotiations remain illogical and unreasonable. The US President’s claim about taking Iran’s enriched uranium is baseless

The ‘excessive demands’ complaint is exactly the same Iranian position prior to Friday, when Trump made a series of massive claims and declarations on some kind of agreed-to and imminent final peace deal.

And more contradiction in terms of Trump’s big claims concerning a major Iran deal in the works, wherein he’s insisted money won’t be exchanged for the US obtaining the enriched uranium and ‘nuclear dust’:

The U.S. has told Tehran it would give Iran access to $20 billion if it hands over its stockpile of fissile material, officials familiar with the negotiations say. The proposal is one of the ideas on the table for resolving one of the big sticking points in talks: how to remove Iran’s access to 972 pounds of near-weapons-grade enriched uranium.

Axios reported the U.S. proposal earlier Friday. It wasn’t immediately clear whether the offer would include all of Iran’s fissile-material stockpile, which includes medium- and low-enriched uranium. Two of the officials said Iran has neither dismissed nor accepted the proposal at this point.

More Big Trump Words on Alleged Iran Deal in Works

A grand deal in the works as Trump says a second round of direct talks will likely be held this weekend? It’s too hard to say what’s agreed upon from the Iranian side at this point, as Trump continues issuing rapid-fire Friday statements:

Talks over a lasting agreement will “probably” be held this weekend, the president said. 
“Most of the main points are finalized. It’ll go pretty quickly,” Trump said.

The president denied that the moratorium on Iran’s nuclear program would expire after 20 years. Asked if the program will completely halt, Trump responded “No years, unlimited.”

Really?…

TRUMP TELLS REUTERS WILL BRING IRAN’S URANIUM TO US

Iran Threatens to Again Close Strait: FARS

And soon on the heels of what appears to be a lot of Trump projection:

IRAN TO CLOSE STRAIT OF HORMUZ IF US BLOCKADE PERSISTS: FARS

In essence, despite the flurry of victory lap-style messages from Trump on Truth Social Friday, the ground reality remains that Iran will do what it has been doing if the US does what it has been doing – but the question will be whether each side keeps up the charade for the sake of the war not restarting, or whether this is again headed toward inevitable clash.

Iranian official to Fars:

If the maritime blockade continues, it will be considered a violation of the ceasefire, and the Strait of Hormuz transit route will be closed.

— Clash Report (@clashreport) April 17, 2026

Trump claims Iran Agrees to ‘Never Close’ Strait Again

The President is doing a rapid-fire Truth Social victory tour of sorts, but seems to have entered pure projection and wishful thinking territory, now claiming Tehran has “agreed to never close the Strait of Hormuz again” and that the vital oil transit waterway “will no longer be used as a weapon against the World!

Like with some other fresh assertions this morning, there’s no confirmation from the Iranians, who also say the strait is ‘open’ – but while asserting its own terms and preconditions for vessel passage.

Still, this flurry of headlines generated in large part by Trump’s ‘optimistic’ (to say the least) series of messages, has pushed oil significantly lower. WTI pushes lower to 79 Friday late morning… WTI has retraced 70% of the peak rise from the start of the war.

NATO ‘Paper Tiger’ can ‘Stay Away’: Trump

The President continues unleashing a series of Iran-related statements on Truth Social, in his latest once again dumping on NATO, claiming that the alliance has belatedly offered the US help in its Hormuz Strait mission, but Trump in all caps said he told them to ‘stay away’ unless ‘they just want to load up their ships with oil.’ 

He then repeated a familiar theme of his, blasting NATO as a ‘Paper Tiger’ for its allege weakness and lack of help with US Iran and Hormuz operations. However, from NATO and Europe’s perspective, the strategic vision and scope of the mission has been constantly evolving, leaving allies confused to say the least – so this doesn’t provide them with enough incentive or confidence to assist in intervening.

And he quickly followed with this highly dubious claim:

And more, now we’re something like 10 or 11 Truth Social statements in and it’s still just morning:

Trump Again Touts US Will Seize ‘Nuclear Dust’

President Trump keeps touting that the US will seize Iran’s “nuclear dust” – which he says is what has resulted from the massive bombing campaign of Iranian nuclear sites as part of Operation Epic Fury. 

But the US will get this even as “No money will exchange hands in any way, shape, or form” – in the latest Friday Truth Social post. However, none of this has been acknowledged by Iran in terms some kind of grand bargain with the US. The below appears merely another fresh threat from Trump, in order to perhaps create leverage and fear amid potential renewed talks.

Trump Responds 

Minutes after Iran’s Foreign Minister Seyed Abbas posted on X that the Strait of Hormuz is “completely open”, President Trump responded on Truth Social:

“IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!”

Of course, we joke, but really…

Soon to be the Strait of America pic.twitter.com/aUJ7dkusfB

— zerohedge (@zerohedge) April 17, 2026

About 20 minutes after Trump’s first Truth Social post, the president fired off another, this time declaring that the “naval blockade will remain in full force.” 

Trump said: 

The Strait of Hormuz is completely open and ready for business, with full passage restored.

However, the naval blockade will remain in full force and effect as it pertains to Iran only until such time as our transaction with Iran is 100% complete.

This process should move very quickly, as most of the points have already been negotiated. Thank you for your attention to this matter!

Trump: US blockade on Iran to remain in place pic.twitter.com/CvJ9iEVv9C

— zerohedge (@zerohedge) April 17, 2026

Market impact so far:

• WTI dropped 9% to $86/bbl after Iran announced the Hormuz chokepoint opening during the ceasefire

• Brent retreated to $91 a barrel

• The dollar plunged while bonds surged, with 10-year yields falling to 4.23%

• European benchmark NatGas prices also fell sharply following the announcement

• Bloomberg Dollar Spot Index erased all gains since the Iran war began

• US main equity futures are green

UBS analyst Nana Antiedu comments on “OIS markets reprice” as Hormuz reopens:

BoE and ECB pricing reacted sharply to US President Trump saying that the Strait of Hormuz is now fully open.

The GBP OIS market has now removed 11bp of hikes removed for the year, now pricing 27.5bp cumulatively.

Similarly, the 10bp of hikes have been removed for the ECB this year, now pricing 44.4bp cumulatively. For the FOMC, OIS markets reprice cumulative cuts to 15bp, down 5bp.

This chart shows market expectations for Federal Reserve interest rate changes in 2026.

Iran Opens Hormuz

In a rather shocking turn of events, Iran’s Foreign Minister Seyed Abbas Aragchi posted on X that the Strait of Hormuz is open:

“In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.”

Oil crashed even lower on the report…

Are we getting close to ‘Mission Accomplished’?

US Mulls $20BN Cash-For-Uranium Deal

According to two U.S. officials and two additional sources briefed on the talks, Axios’ Barak Ravid reports that the US and Iran are negotiating over a three-page plan to end the war.

The three-page memorandum of understanding (MOU) the two sides are negotiating over also includes a “voluntary” moratorium on nuclear enrichment by Iran.

The U.S. demanded in the last round of talks that Iran agree to a 20-year moratorium. Iran countered with five years. The mediators are still trying to close the gap.

As part of the MOU, Iran would be allowed to have nuclear research reactors for the production of medical isotopes, but would pledge that all of its nuclear facilities would be above ground.

The existing underground facilities would remain out of commission.

Perhaps the most notable element under discussion being that the U.S. would release $20 billion in frozen Iranian funds in return for Iran giving up its stockpile of enriched uranium.

Axios adds that a top priority for the Trump admin is ensuring Iran can’t access the stockpile of nearly 2,000kg of enriched uranium buried in its underground nuclear facilities, in particular the 450kg enriched to 60% purity.

The Iranians, meanwhile, need money.

The parties are negotiating over what will happen to the stockpile and how much of Iran’s assets will be unfrozen. They are also discussing the terms on which Iran could use that money.

WTI Crude front-month oil futures prices are tumbling on the report, down over 11% – back near post-ceasefire lows…

President Trump said Thursday that U.S. and Iranian negotiators would likely meet this weekend for a second round of talks to try to seal the deal.

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Microsoft unveiled plans to triple its data center footprint in Cheyenne, Wyoming, snapping up roughly 3,200 acres on the city’s south edge. 

The deal covers a 200-acre parcel in Bison Business Park plus an adjacent 3,000-acre tract, turning what is already one of the company’s longstanding hubs into a sprawling complex. 

With 11 data centers operational and three more under construction across four campuses, the tech giant is betting big on the Cowboy State’s energy resources and workforce. 

A company spokeswoman called it a “commitment to continued growth,” citing the area’s skilled labor, solid infrastructure, and thriving energy sector.

The land grab hit the headlines amid a far less rosy picture for the data center frenzy in the United States and beyond. Announcements keep piling up at a disturbing clip, fueled by the AI “gold rush” and hyperscaler spending projected to top $700 billion this year alone. 

Earlier this week we reported that nearly half of the roughly 16 gigawatts of U.S. data-center capacity slated to come online in 2026 will likely face delays or outright cancellation. In fact, only about 5 gigawatts have even broken ground, according to Sightline Climate’s latest outlook. Supply-chain gaps, transformer shortages, and grid constraints are turning ambitious blueprints into paper tigers.

Even in Cheyenne, not everyone is popping champagne. State Senator Cale Case voiced caution about future ratepayer impacts and grid congestion, 

“It looks good on paper,” Case said.

“But what happens down the road when those supplies become constrained? So, it’s not benign, and it takes a lot of thought. I don’t think you can ever say this is not going to impact other customers.”

In the UK, OpenAI recently paused its ambitious Stargate project over prohibitive energy costs and regulatory hurdles, as we recently highlighted. Wyoming’s climate and energy edge may insulate Microsoft’s Cheyenne bet for now, but the global wave of cancellations suggests many shiny press releases will never pour concrete. 
 

Authored by Prabhat Ranjan Mishra via Interesting Engineering,

Chemists in the United States have discovered a new way to turn natural gas into liquid fuel.

The team from Northwestern University has successfully converted methane directly into methanol in a single step. They harnessed tiny bursts of plasma — or mini “lightning bolts” — in glass tubes submerged in water.

Using pulses of high-voltage electricity

“We’re using pulses of high-voltage electricity,” said Northwestern’s Dayne Swearer, the study’s corresponding author.

“If the electrical potential is high enough, lightning bolts form inside of our reactor the way they do during a summer thunderstorm. We’re taking advantage of that chemistry to break methane’s bonds without heating the entire system to extreme temperatures.”

While the current method is reliable, it’s energy intensive and emits millions of tons of carbon dioxide per year globally. Using just electricity, water and a copper-oxide catalyst, the new process could offer a cleaner, electrified path to producing one of the world’s most widely used chemical building blocks, according to a press release.

Methanol is a versatile, high-demand industrial chemical

The team also revealed that the methanol is a versatile, high-demand industrial chemical used to make many products people use every day. It also is commonly used as an industrial solvent and is gaining attention as a cleaner-burning fuel for ships and industrial boilers.

One of the world’s most used commodity chemicals, methanol is a key ingredient in plastics, paints and adhesives. More recently, researchers have explored methanol as a promising liquid fuel because its combustion produces lower sulfur emissions and particulate pollution than gasoline and diesel, as per the release.

Industry generates methanol through a multi-step process

The team also pointed out that currently, the industry generates methanol through a multi-step process, starting with steam reforming. First, methane is reacted with steam at temperatures exceeding 800 degrees Celsius to break it into carbon monoxide and hydrogen. Then, those gases are recombined under extremely high pressures — 200 to 300 times standard atmospheric pressure — to form methanol. Tearing methane apart and rebuilding it consumes an enormous amount of heat and inherently generates carbon dioxide along the way.

“The extreme temperatures are needed to break the unreactive chemical bonds between carbon and hydrogen in methane,” Swearer said.

“Then, you must use high pressure to squeeze all those molecules together onto the catalyst in order to make the methanol molecule. It works, but it’s not the most straightforward path to making methanol from methane.”

For the new single-step process, James Ho, a Ph.D. candidate in Swearer’s lab and the study’s first author, built a plasma “bubble reactor,” which is essentially a porous glass tube coated with a copper oxide catalyst. Then, the team flowed methane gas through the tube while applying electrical pulses.

The electricity transformed the methane gas into plasma, splitting methane and water into highly reactive fragments. Those fragments then recombined to form methanol, which immediately dissolves into the surrounding water. That rapid “quenching” stopped the chemical reaction at the right moment, preventing the methane from decomposing into carbon dioxide.

“More than 99% of the observable universe is comprised of plasma,” said James Ho. “But even though it’s ubiquitous, it really is an untapped resource in the field of chemistry. The reason we use cold plasmas is because we can produce them at low temperatures and normal atmospheric pressure conditions.”