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Microsoft Triples-Down On Data Centers, As Half Of Planned Projects Face Cancelations, Delays

Microsoft Triples-Down On Data Centers, As Half Of Planned Projects Face Cancelations, Delays

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. 
 

Tyler Durden Fri, 04/17/2026 - 12:40

US Chemists Turn Natural Gas Into Liquid Fuel Without High Heat And Pressures

US Chemists Turn Natural Gas Into Liquid Fuel Without High Heat And Pressures

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.

Methanol is a versatile, high-demand industrial chemical used to make many products people use every day.Employee/Alexander/Driscoll 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.”

Tyler Durden Fri, 04/17/2026 - 12:20

Cybertruck Sales "Propped Up" By SpaceX Buying Spree

Cybertruck Sales "Propped Up" By SpaceX Buying Spree

Bloomberg is out with a new report saying Tesla's Cybertruck sales were "propped up" in the fourth quarter by purchases from companies inside Elon Musk's business empire.

SpaceX accounted for 1,279 Cybertruck registrations, or about 18% of all U.S. Cybertruck registrations during the last quarter of 2025. The report went on to say that xAI, Boring Co., and Neuralink also purchased the stainless-steel EV during the period.

"That means almost one in every five Cybertrucks registered during the period were delivered from one part of Musk's sprawling business empire to another," Bloomberg's Dana Hull noted.

Hull added, "Without those sales to other Musk-run companies — which included xAI, Boring Co. and Neuralink, in addition to SpaceX — Cybertruck registrations in the fourth quarter would have fallen 51%."

Hull quoted Sam Fiorani, vice president of global vehicle forecasting for advisory firm AutoForecast Solutions, who said, "Tesla is running out of buyers for the Cybertruck."

Hull said the registration data was sourced from S&P Global Mobility and, in her words, suggests only that "demand for the pickup is fading just two years after launch."

Cybertruck's struggles are not unique to Tesla. In fact, electric pickups have been a major bust across the U.S. EV market. Ford recently converted its electric F-150 Lightning production lines to extended-range hybrid vehicles. And we're sure in President Trump's war economy, autos will be converting EV lines or other production lines into making weapons (read report). 

Despite the continued downturn in EVs, Cox Automotive data show the Cybertruck was still the top-selling EV truck in the U.S. in the first quarter.

High sticker price and elevated interest rates are likely major factors behind the Cybertruck's dismal sales. Bankrate data show the national average 60-month loan rate for new vehicles is still above 7%, down from 8% during the Biden years but still sharply higher than the sub-4% levels seen in 2021.

Federal subsidies for EVs have also been cut under the Trump administration's second term.

Tyler Durden Fri, 04/17/2026 - 12:00

Hochul Joins Mamdani In New York's "Eat The Rich" Movement

Hochul Joins Mamdani In New York's "Eat The Rich" Movement

Authored by Jonathan Turley,

The hunt is on...

New York City Mayor Zohran Mamdani used Tax Day to announce a new fee targeting wealthy people who still linger in the city after moving their primary residences to other states.

The tax, called pied-à-terre (or “foot on the ground”) is designed to hit people who still maintain high-value properties in the city. It is a remarkably moronic effort to ensure that wealthy people cut all ties with the city. However, Gov. Kathy Hochul has yielded to the far left and joined the effort.

Mamdani, a socialist who supports the “decommodification” of private property, is seeking major tax increases, including a 10% property tax, to fund his pledges for free buses, city-run stores, and other policies.

He will need it. Mamdani not only recently admitted that he cannot fulfill his pledge for free buses this year, but that he will only build the first of five promise city-run stores next year at the cost of $30 million — almost half of what he set aside for all five promised stores.

The new measure would add a fee to existing taxes for owners of high-value properties worth more than $5 million.

Mamdani declared the new fee part of “Happy Tax Day,” which will generate $500 million more to “help fund things like free child care, cleaner streets, and safer neighborhoods.”

He is also pushing Hochul to increase taxes on the 33,000 New Yorkers earning more than $1 million annually as well as those corporations that have not left the state. Other blue states from Washington to Virginia are moving toward similar millionaire taxes.

The move is consistent with other blue states seeing the same exodus of wealthy taxpayers and businesses due to the rising budgets and tax burdens. Rather than seeking to make their states magnets for investment, California and other states are pursuing retroactive wealth taxes and so-called “Teddy Bear laws” that refuse to recognize changes of residency.

New York has used its “Teddy Bear” regulations to declare that people who fled to other states are still residents subject to taxation because of the location of their sentimental attachments in New York (like a Teddy Bear) from pets to children.

In my new book, “Rage and the Republic,” I discuss these taxes and how they are the final stage of economic atrophy for states like New York. Politicians like Hochul cannot muster the courage to face bloated budgets, excessive union pension contracts, and runaway spending. In other words, it is too difficult to create a state that draws investment and residents like so many red states. Instead, they are chasing the remaining wealthy people who still maintain contacts with the state.

The result is a form of economic Darwinism in which the herd of wealthy taxpayers is thinned further by capturing the slowest or most nostalgic individuals.

The irony is that Houhul and Mamdani are working to cut the final ties of these former residents, convincing them that they are viewed as parasites to be pursued relentlessly for more taxes.

In Rage and the Republic, I discuss these efforts as a dangerous form of “economic factionalism,” a popular tactic historically used by demagogues to curry public favor by vilifying the wealthy.

Mandani denounced those who “store their wealth in New York City real estate [and] reap the huge financial rewards” while “hurt[ing] working New Yorkers.”

This is evident in the renewed claims of figures such as Sen. Elizabeth Warren (D., Mass.), who used Tax Day to renew calls for her unconstitutional wealth tax.

Warren posted on X that “It’s time to make the ultra-wealthy pay their fair share. It’s time to pass a wealth tax.”

Socialist Vermont Sen. Bernie Sanders also made the same claim. In a Guardian op-ed, Sanders cited shocking figures claiming that Elon Musk pays a tax rate of only 3.3% while Jeff Bezos pays less than 1%.

The claim comes from the dubious source  ProPublica, which performs a statistical sleight of hand. In reality, the publication shows that figures like Jeff Bezos paid $973 million in taxes on income of $4.22 billion. That is a 23% tax burden, not less than 1%. Musk paid 30% with a $455 million tax bill.

The top 1% of taxpayers in this country paid roughly 40% of all taxes. The top 5% pays over 40% of taxes.

The Democrats are committed to economic factionalism as a strategy for the midterm elections. It is a major driver of the rage politics that many hope will allow them to regain power in November. It will come at a great cost to states like New York.

Hochul and Mamdani can hunt down the remaining wealthy taxpayers lingering in their state. In the end, it will not generate nearly as much revenue as it will cost as residents and businesses look elsewhere for position living and business environments.

The best way to improve the standard of living in these states is to improve their economies and tax bases. Instead, blue states like California and New York are raising costs across the board, including through pushes for a $ 30-per-hour minimum wage. In California, the massive increases in the minimum wage have already resulted in substantial job losses and business closures.

It is unlikely that many wealthy individuals will stick around to experience what Mayor Mamdani calls “the warmth of collectivism.” Instead, it will be average New Yorkers who are burned by his “eat the rich” policies.

Jonathan Turley is a law professor and the best-selling author of “Rage and the Republic: The Unfinished Story of the American Revolution.”

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Tyler Durden Fri, 04/17/2026 - 11:40

Kamikaze Drone Maker Raises $320 Million In U.S. IPO As 'War Unicorns' Rise

Kamikaze Drone Maker Raises $320 Million In U.S. IPO As 'War Unicorns' Rise

The rise of "war unicorns" will be an impressive development to watch over the next several years, as we've diligently laid out for readers for months, well before the U.S.-Iran conflict, how a massive government push and in capital markets would begin to prioritize the next generation of defense-tech firms rather than big, bloated legacy defense contractors.

Aevex, a military drone maker backed by Madison Dearborn Partners, is the latest example of capital markets getting excited about war unicorns, with the company selling 16 million shares at $20 each in an IPO, with shares expected to begin trading on Friday. The deal was reportedly oversubscribed multiple times, according to Bloomberg sources.

Aevex is a direct public-market play on low-cost kamikaze drones, with a sizable portion of last year's revenue linked to Ukraine. It has two unmanned systems programs, Phoenix Ghost and EUCOM AOR Deep Strike, that have delivered or committed to deliver more than 9,300 units, representing about $1.2 billion in contract value through the end of this year.

The war unicorn is positioned to benefit from the Department of War's massive shift toward startups that can produce advanced weapons at a fraction of the cost and on a faster timeline than the large primes, such as Lockheed and Boeing. There is also a major shift within the DoW toward low-cost advanced weapons systems, such as drones and AI kill chains.

Aevex sees demand for unmanned systems expanding to $11 billion in the U.S. and $26 billion globally by 2030.

Bloomberg noted that Aevex posted a net loss of $16.9 million on $432.9 million in revenue in 2025, compared with net income of $78.5 million on $392.2 million in revenue a year earlier.

Aevex's public debut is only the beginning of war unicorns tapping public markets. We've outlined how the DoW's procurement process has been reset to favor startups. The DoW is also setting up a 30-person investment banking team called the "Economic Defense Unit" to deploy $200 billion in private equity over three years to fund these unicorns.

Follow the money: President Trump's war economy is being spun up ...

What comes next, particularly in the U.S. market, is a rapid push to harden the airspace over critical infrastructure, data centers, and other high-value assets, because there is an alarming gap in the low-cost air defense layer against FPVs. Lessons from conflict areas across Eurasia are being learned at hyperspeed. 

Tyler Durden Fri, 04/17/2026 - 11:20

"Mr. Biden Lives Abroad": Hunter Leaves Country As Former Lawyers Seek Millions

"Mr. Biden Lives Abroad": Hunter Leaves Country As Former Lawyers Seek Millions

Authored by Jonathan Turley,

“Mr. Biden lives abroad.”

Those four words in a filing from Barry Coburn confirmed what had long been rumored about his client: Hunter Biden has left the country as his former lawyers and creditors seek millions in unpaid debts.

He added, “He cannot pay his current lawyers.”

As I wrote about years ago, Biden’s art grift would dry up as soon as he could no longer deliver influence and access to power. Reportedly unable to move art, Hunter has moved out of the reach of many creditors. He is rumored to be in South Africa, where his wife, Melissa Cohen, was born and raised.

Hunter is the Blanche DuBois of American politics. He has always relied on the kindness (and greed) of strangers when he could allegedly offer influence or access to his father, Joe Biden.

Hunter told a South African podcast in November that “We’re trying to be between Cape Town and the States, go back and forth.” He added, “I’ve fallen madly in love with Cape Town. You guys do not know how good you have it here. It’s the most beautiful city in the world.”

It just also happens to be roughly 9000 miles away from creditors in Delaware.

According to his former counsel at Winston & Strawn LLP, Hunter has not paid a “substantial portion” of the fees owed to his legal team.

Hunter told the podcast that he is facing “$17 million in debt … as it relates to my legal fees.”

His criminal defense did not ultimately protect him. He was found guilty of a variety of crimes, and his father then broke his repeated promise to the public and pardoned his own son in December 2024.

I have been a long-time critic of the Bidens, going back to when Joe Biden was still a senator. The family was long accused of influence peddling and corruption. Hunter Biden was hardly subtle in marketing his access and influence. He is now without a law license and any known means of support despite an enabling media that pushed his past books and art.

For those of us who have written about the Bidens for decades, the relocation to South Africa is about as surprising as having his father pop into dinners at Cafe Milano with foreign clients. Hunter Biden is the Enfant terrible created by his father and released upon the world.

I recently wrote that the Swalwell scandal reveals an ironic analogy to Hunter’s signature lifestyle.

Swalwell supported Hunter and was by his side as he defied a congressional subpoena. Like Hunter, he has controversial dealings, including using tens of thousands of campaign contributions for child care. He even had the campaign support of Hunter’s “sugar brother” Kevin Morris, who appears to have a proclivity for narcissistic, self-destructive personalities.

Swalwell could also face the same financial crunch as Hunter, as his campaign and congressional money run out. If so, there is always South Africa.

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Tyler Durden Fri, 04/17/2026 - 11:00

House Votes To Extend Surveillance Powers Until April 30

House Votes To Extend Surveillance Powers Until April 30

The US House of Representatives on Friday passed a bill extending Section 702 of the Foreign Intelligence Surveillance Act (FISA) - which was notoriously abused so spy on the 2016 Trump campaign, and has been used for "backdoor searches" targeting Americans. Friday's vote - via unanimous consent after a longer five-year reauthorization pushed by Republicns failed to advance - extends Section 702 until April 30. 

The short-term measure now moves to the Senate, which faces a looming deadline: the current authorization expires April 20. The vote comes despite a well-documented history of FISA abuses spanning both individualized Title I warrants and the bulk warrantless collection under Section 702, as detailed in multiple Department of Justice Inspector General reports, declassified Foreign Intelligence Surveillance Court (FISC) opinions, and congressional oversight findings.

President Donald Trump had urged Republicans to support a clean extension, citing the law’s critical role in national security while personally recounting what he described as "the worst and most illegal abuse of FISA in our Nation’s History.” Trump referenced the FBI’s use of FISA during the Crossfire Hurricane investigation into his 2016 presidential campaign. At the same time, he stressed that the U.S. military "desperately needs” Section 702 to protect troops and diplomats, particularly amid ongoing operations against Iran’s nuclear program.

"With the ongoing successful Military activities against the Terrorist Iranian Regime, it is more important than ever that we remain vigilant, PROTECT our Homeland, Troops, and Diplomats stationed abroad,” Trump said. He added that generals he consulted called the authority "VITAL,” especially in the current geopolitical climate.

Heaven forbid he demand reforms and more oversight. 

Section 702 permits the government to collect communications of non-U.S. persons located outside the United States without a warrant. However, it inevitably captures "incidental” communications involving American citizens, who can then be searched in the database through so-called "backdoor” queries - often without a warrant or probable cause. Critics on both sides of the aisle have long warned that the program effectively enables warrantless domestic surveillance.

Long-Standing and Systemic Abuses

FISA was enacted in 1978 in direct response to revelations from the Church Committee about executive-branch spying on civil-rights leaders, anti-war activists, and political opponents. Yet official records show recurring compliance failures and misuse in the decades since.

The highest-profile case of targeted surveillance involved Carter Page, a former Trump campaign foreign-policy adviser. A December 2019 DOJ Inspector General report by Michael Horowitz identified 17 significant inaccuracies and omissions across four FISA warrant applications and renewals. These included heavy reliance on the unverified Steele dossier - funded by the Clinton campaign and DNC - without disclosing its political origins, lack of corroboration, or exculpatory evidence (such as Page’s prior reporting as a CIA source). The FBI also failed to correct the record with the FISC.

FBI attorney Kevin Clinesmith later pleaded guilty to altering an email to falsely claim Page was not a CIA source, helping secure a renewal. Special Counsel John Durham’s subsequent investigation further criticized the FBI’s predication and handling of the Russia probe. The DOJ later admitted in court filings that it lacked probable cause for at least some of the Page renewals. Recent 2026 disclosures by Sen. Chuck Grassley have raised similar questions about possible FISA surveillance of another Trump adviser, Walid Phares, involving the same FBI attorney.

These were not isolated. A 2002 FISC review found the FBI had included false or misleading statements in at least 75 FISA applications, leading to the barring of a senior counterterrorism official from ever appearing before the court. A 2020 IG audit of the FBI’s "Woods procedures” (accuracy-check protocols) examined 29 applications and found apparent errors or inadequately supported facts in every one of the 25 reviewed in detail.

Section 702 "Backdoor" Searches on U.S. Persons

The scale of abuse under the warrantless program has drawn even sharper criticism from the FISC itself, which has repeatedly described FBI compliance failures as "persistent and widespread.”

Between 2020 and early 2022, the FBI conducted more than 278,000 searches of Section 702 data that violated legal standards or internal policy. In 2021 alone, total U.S.-person queries reached approximately 3.4 million, with hundreds of thousands flagged as improper.

Declassified FISC opinions document concrete examples of misuse:

  • Queries on Black Lives Matter protesters, Jan. 6 arrestees, and participants in purely domestic criminal investigations (health-care fraud, gang violence, public corruption) with no foreign-intelligence nexus.
  • A batch query on 19,000 donors to a congressional campaign.
  • Searches targeting a U.S. Senator, a state senator, a state court judge, journalists, political commentators, and even FBI "Citizens Academy” participants.
  • Personal abuses, including agents querying data on romantic partners, family members, online-dating matches, or rental tenants.

FISC rulings from 2018 through 2023 repeatedly faulted the FBI’s minimization procedures, record-keeping, and "batch” querying practices. A 2025 DOJ OIG report acknowledged some improvement after the 2024 Reforming Intelligence and Securing America Act but warned that ongoing oversight remains essential.

Rep. Jim Himes (D-Conn.) offered an amendment April 15 that would have required the Justice Department to obtain a court order before querying Americans’ data, with narrow exceptions for urgent threats. "FISA 702 is too critical to allow it to expire, but the legitimate concerns about the possibility of abuse also demand that we consider additional reforms,” Himes stated. The amendment was not adopted.

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Tyler Durden Fri, 04/17/2026 - 10:40

US Intelligence Believes China Weighing Sending Iran Advance Radar Systems

US Intelligence Believes China Weighing Sending Iran Advance Radar Systems

US intelligence is flagging early signs that Beijing may have been eyeing a move into the Iran conflict - quietly considering sending advanced radar systems, which it is said to have been mulling since near the opening of the US-Israel war which kicked off last month.

These anti-Beijing allegations are contained in fresh CBS News reporting, citing analysts at the Defense Intelligence Agency (DIA), who conclude China was actively weighing whether to equip Tehran with upgraded radar capabilities.

via GT

It should be recalled that earlier parallel reports said Moscow was feeding Iran intelligence on US military positions across the Middle East - raising the specter of a broader shadow alignment forming behind the scenes.

"This technology would significantly enhance Iran's ability to detect and track incoming threats, like low-flying drones and cruise missiles, and could help protect its air defense systems against advanced strikes," CBS writes.

The report continues, "It remains unclear whether China ultimately moved forward with the transfer but the assessment underscores Washington's concern that the Iranian war is drawing in not only regional adversaries but also global competitors willing to provide critical support, short of direct military involvement, the officials said."

The ability of the Iranians to hit faraway precision targets, including for example an expensive US radar base in Jordan, suggested it may have already had some external satellite and targeting help. Any new China radar transfer could help Iran rebuild its largely decimated defenses.

The significant Iranian retaliation against US regional bases and against Gulf facilities last month came as a surprise or even shock to the US administration, which appeared somewhat unprepared - and this has been subject of much recent reporting. For example:

Such anti-China allegations have been previewed before, but the idea of advanced Chinese radar technological on the ground in Iran might have been a game-changer in terms of preserving more of its own anti-air and missile capabilities.

All of these allegations, which come anonymously via unnamed US intel officials, must be treated with appropriate skepticism, however - given that war propaganda will inevitably be thick in such a hot conflict.

China, for its part, has been vehemently denying these repeat charges of some kind of deepened support for the Islamic Republic amid the war. It says it stands for peace and dialogue, and has called for urgent de-escalation and the unblocking of the Hormuz Strait.

Tyler Durden Fri, 04/17/2026 - 10:05

Trump Says Admin Investigating Deaths, Disappearances Of US Scientists

Trump Says Admin Investigating Deaths, Disappearances Of US Scientists

Authored by Jack Phillips via The Epoch Times,

President Donald Trump on Thursday vowed to look into reports of multiple U.S. scientists who have either died or gone missing in recent months.

“I hope it’s random, but we’re going to know in the next week and a half,” he told reporters, adding that “I just left a meeting on that subject.”

The reports, he added, are serious, because “some of them were very important people, and we’re going to look at it over the next short period.”

The president provided an update a day after White House press secretary Karoline Leavitt told reporters that the Trump administration is investigating.

A reporter asked Leavitt about 10 scientists who died or disappeared over the past several years, with some of them having access to nuclear or aerospace material.

“I haven’t spoken to our relevant agencies about it. I will certainly do that, and we’ll get you an answer. If true, of course, that’s definitely something I think this government and administration would deem worth looking into,” she said in response.

At least one House lawmaker, Rep. Eric Burlison (R-Mo.), asked the FBI to investigate the reports.

“The disappearance of multiple scientists and military personnel with ties to advanced research is deeply concerning. I’ve already requested FBI involvement, and we will keep pressing for answers,” Burlison wrote in a post on X in late March.

Another, Rep. Tim Burchett (R-Tenn.), also called for an investigation into the disappearances.

“The numbers seem very high in these certain areas of research. I think we’d better be paying attention, and I don’t think we should trust our government,” he told the Daily Mail in March.

Burchett also made reference to the disappearance of a former Air Force general, William McCasland, who vanished from his New Mexico home without his phone or glasses in February. Media reports said that a colleague of his, Monica Reza, a rocket scientist, went missing in June 2025 after she did not return home from hiking in the Angeles National Forest in Southern California.

The lawmaker appeared to suggest that McCasland’s disappearance was linked to his aerospace or UFO research, saying that “those folks are very secretive about what they know” and he believes that McCasland “was involved in some of that.”

A former Department of State analyst, Marik von Rennenkampff, told NewsNation on Wednesday that the disappearances are unusual and could be connected.

“It’s bizarre,” he said. “I go through various potential scenarios. These are large organizations. Could these be coincidences? I think we might have passed that threshold.”

The Epoch Times contacted the FBI for comment Thursday.

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Tyler Durden Fri, 04/17/2026 - 09:45

Madison Air Pulls Off Biggest U.S. Industrial IPO Since 1999 As Data Center Cooling Theme Heats Up

Madison Air Pulls Off Biggest U.S. Industrial IPO Since 1999 As Data Center Cooling Theme Heats Up

Madison Air Solutions surged 18% in its IPO on Thursday after raising $2.23 billion, pulling off the largest U.S. industrial IPO in nearly three decades. Shares closed at $31.75, signaling strong investor appetite for an industrial name tied to the AI infrastructure buildout.

The Chicago-based company designs and manufactures ventilation, filtration, and cooling systems for data centers, semiconductor manufacturing facilities, life sciences buildings, and commercial buildings. Most importantly, investors care about MAIR because it sells liquid, hybrid, and air-cooling equipment for data centers, tying it directly to the AI buildout boom. 

Data centers account for roughly 20% of MAIR's business. The company operates 30 brands and generated $3.34 billion in 2025 revenue, up from $2.62 billion a year earlier, though net income declined to $124 million from $236 million. Like many industrials operating in the US, it faces pressure from President Trump's tariffs, with imported metals adding more than $51 million in costs last year. 

On Thursday, MAIR closed at $31.75, up from its $27 offering price, giving the company a $15.5 billion. In premakret trading in New York, shares are around $32.

Last year, in the data center cooling theme, we penned a note titled "A Chilling Opportunity" on data centers, highlighting UBS analyst Joshua Spector's bullish coverage of Chemours as being well-positioned in coolant solutions for data centers. Year to date, Chemours is up 94%.

Looking ahead, Goldman analyst Mark Delaney provided color on the data center buildout earlier today: "Datacenter capex from leading public hyperscalers is now approaching ~$700 billion, roughly 10x the level in 2020." This only suggests that as chip stacks get more powerful and demand for energy and cooling rises, companies like MAIR and Chemours stand to be key beneficiaries.

Tyler Durden Fri, 04/17/2026 - 07:20

Aluminum Market Descends Into Supply 'Black Hole'

Aluminum Market Descends Into Supply 'Black Hole'

Aluminum prices on the London Metal Exchange are climbing into the end of the week, reaching $3,621 a ton and approaching the peak seen during Russia's 2022 invasion of Ukraine. The problem now is that the aluminum market has been thrust into a serious supply shock amid the U.S.-Iran conflict in the Middle East, one that is unlikely to be reversed in the near term.

One big problem we highlighted last weekend was that Emirates Global Aluminum (EGA), the Gulf's largest aluminum producer, declared force majeure on part of its contract book after Iranian missile and drone strikes hit its Al Taweelah smelter. Then there is the Hormuz chokepoint and the U.S. blockade of the critical waterway, which has only further throttled vessel traffic.

It is important to note that EGA accounts for 4% of the world's aluminum production. The broader Middle East accounts for about 9% of global aluminum production.

JPMorgan analysts have warned that the industry is descending into a black hole, or a "metaphorical point of no return," where the "global aluminum market will face a serious and prolonged supply outage," even if vessel flows through the Hormuz chokepoint resume in the near term.

The analysts warned clients earlier this week that the market has now entered that dangerous void, and LME prices could soon reach $4,000 a ton as the largest supply deficit in more than 25 years quickly emerges.

Goldman commodity specialist James McGeoch recently warned clients, "Hard to think of a bigger metal supply shock: High degree of expectation this was where it was heading, but the initial reaction was to fade the uncertainty yesterday, that should be replaced by fresh length if history is a guide."

Countries exposed to Gulf aluminum shipments include the U.S., Japan, Turkey, South Korea, Saudi Arabia, the Netherlands, Italy, Greece, and India. Any supply shock could hit Western manufacturers, allowing alternative suppliers in China and Russia to step up.

Tyler Durden Fri, 04/17/2026 - 06:55

Aluminum Market Descends Into Supply 'Black Hole'

Aluminum Market Descends Into Supply 'Black Hole'

Aluminum prices on the London Metal Exchange are climbing into the end of the week, reaching $3,621 a ton and approaching the peak seen during Russia's 2022 invasion of Ukraine. The problem now is that the aluminum market has been thrust into a serious supply shock amid the U.S.-Iran conflict in the Middle East, one that is unlikely to be reversed in the near term.

One big problem we highlighted last weekend was that Emirates Global Aluminum (EGA), the Gulf's largest aluminum producer, declared force majeure on part of its contract book after Iranian missile and drone strikes hit its Al Taweelah smelter. Then there is the Hormuz chokepoint and the U.S. blockade of the critical waterway, which has only further throttled vessel traffic.

It is important to note that EGA accounts for 4% of the world's aluminum production. The broader Middle East accounts for about 9% of global aluminum production.

JPMorgan analysts have warned that the industry is descending into a black hole, or a "metaphorical point of no return," where the "global aluminum market will face a serious and prolonged supply outage," even if vessel flows through the Hormuz chokepoint resume in the near term.

The analysts warned clients earlier this week that the market has now entered that dangerous void, and LME prices could soon reach $4,000 a ton as the largest supply deficit in more than 25 years quickly emerges.

Goldman commodity specialist James McGeoch recently warned clients, "Hard to think of a bigger metal supply shock: High degree of expectation this was where it was heading, but the initial reaction was to fade the uncertainty yesterday, that should be replaced by fresh length if history is a guide."

Countries exposed to Gulf aluminum shipments include the U.S., Japan, Turkey, South Korea, Saudi Arabia, the Netherlands, Italy, Greece, and India. Any supply shock could hit Western manufacturers, allowing alternative suppliers in China and Russia to step up.

Tyler Durden Fri, 04/17/2026 - 06:55

Norway's Oil Export Earnings Surge 68% Amid Iran War

Norway's Oil Export Earnings Surge 68% Amid Iran War

Authored by Alex Komani via OilPrice.com,

Norway's crude oil export earnings surged 67.9% year-on-year in March to a record 57.4 billion kroner ($6.1 billion), primarily driven by soaring global energy prices following the outbreak of the Iran war and the subsequent closure of the Strait of Hormuz.

Oil prices averaged 1,014 kroner ($107.52) per barrel in March, the highest monthly average since September 2023.

As Europe’s largest producer of oil and natural gas, the Scandinavian country exported 56.6 million barrels of crude oil in March, good for nearly 2 million barrels per day. Norway’s natural gas export revenues also climbed 19% to over 69 billion kroner as Europe sought alternative energy sources amid Middle East instability, helping the country record a trade surplus to the tune of 97.5 billion kroner, its highest level since January 2023.

Norway’s windfall oil earnings did not escape the attention of U.S. President Donald Trump:

Europe is desperate for energy, and yet the United Kingdom refuses to open North Sea oil, one of the greatest fields in the world. Tragic!!!” he wrote in Truth Social.

Aberdeen should be booming. Norway sells its North Sea oil to the UK at double the price. They are making a fortune,he added.

North Sea oil and gas production is in long-term, structural decline, with over 90% of its producible resources already extracted.

However, Norway has been able to maintain high production by expanding exploration in the Arctic Barents Sea, pivoting to new, smaller discoveries in the North Sea, and investing heavily in the Norwegian Sea.

The Barents Sea is widely regarded as one of the most promising, yet under-explored, oil and gas frontiers on the Norwegian Continental Shelf, with roughly 80% of its remaining hydrocarbon resources yet to be tapped.

Meanwhile, the Norwegian Sea is an increasingly attractive area of interest, with roughly 50% of its remaining oil and gas resources yet to be discovered.

About one-third of the estimated resources in the Norwegian Sea are located in unopened areas, including off Lofoten and Vesterålen as well as around Jan Mayen.

Tyler Durden Fri, 04/17/2026 - 05:00

Gulf War Leaves $58 Billion Repair Bill And Global Equipment Crunch

Gulf War Leaves $58 Billion Repair Bill And Global Equipment Crunch

Last week, JPMorgan - which correctly noted that headlines tend to focus on the fact of damage not the scale - was the first itemize the damage from the war in Iran, finding more than 60 energy infrastructure assets in the Gulf have been affected by drone and missile strikes, with roughly 50 sustaining different degrees of damage. 

What about the actual dollar value of the inflicted damage?

According to Rystad, repair and restoration costs for energy-linked infrastructure as a result of war in the Middle East could hit $58 billion, with the total for oil and gas facilities potentially up to $50 billion. 

Three weeks after the energy consultancy published an initial estimate of $25 billion in repair costs across Gulf energy infrastructure, the scope of damage has expanded materially. The continuation of military strikes drove up the number of impacted assets across the region before largely subsiding following an 8 April ceasefire between the US and Iran. This pushed the estimate for the average in potential total repair and restoration spending to $46 billion – representing the midway point in the range of $34 billion to $58 billion – across oil and gas infrastructure, inclusive of an average of $5 billion across industrial, power and desalination assets. The ceasefire, combined with stalled negotiations and renewed escalation risk, continues to shape the operating environment, alongside risks of disruption and potential blockades affecting shipping through the Strait of Hormuz. 

Divergent recovery timelines 

This broader damage footprint is changing how the recovery will unfold. Capital availability is not the primary constraint; instead, access to equipment, contractors and logistics is emerging as the key limiting factor. Recovery timelines are beginning to diverge across assets and countries, reflecting differences in domestic execution capacity and supply chain access. At the same time, repair activity is likely to displace new project execution, as operators prioritize restoring existing production over advancing greenfield developments. 

Early recovery trends already reflect this divergence. Some facilities where damage was contained and contractor capacity was already present have resumed operations within weeks, particularly where work is limited to surface equipment and modular repairs. By contrast, facilities requiring reconstruction of core process units or that are dependent on long-lead equipment remain in early assessment stages, with timelines extending into years. 

Rystad Energy has assessed the damage across impacted energy-linked facilities and estimates total repair and restoration costs in the range of $34 billion to $58 billion. 

The lower end of the range assumes that, for facilities where the extent of damage is not yet fully clear, impacts are limited in scope, allowing for modular repairs supported by existing spare equipment and shorter procurement cycles. The upper end reflects scenarios where structural damage is confirmed across major facilities, requiring full replacement of critical systems, reliance on long-lead equipment and the inclusion of conflict-related premiums on engineering, procurement and construction (EPC) execution, including contractor mobilization and war-risk insurance, alongside delays linked to contractor deployment, constrained logistics and in some cases restricted access to international supply chains.

Iran and Qatar bear brunt 

At a country level, this cost distribution begins to diverge more clearly, both in scale and across asset types. Iran accounts for the highest number of impacted facilities and the widest spread across asset types, with repair costs potentially reaching up to $19 billion under a high-damage scenario. Major disruptions are concentrated in the South Pars onshore gas processing facilities at Asaluyeh, along with the adjacent Pars Special Economic Energy Zone and Mahshahr petrochemical complex, removing significant gas processing and downstream petrochemical capacity. Additional impacts across key refineries, fuel storage depots in the Tehran region and export infrastructure at Lavan and Siri Island have further constrained domestic fuel distribution and reduced export flexibility, increasing reliance on fewer operational outlets. 

The impact in Iran therefore extends across the value chain, with simultaneous disruption to processing, refining, storage, and exports. Restoration timelines are structurally longer than elsewhere in the Gulf, not only due to the scale and dispersion of damage, but also because access to Western EPC contractors, original equipment manufacturers and process technologies remains restricted, narrowing execution options and extending procurement cycles. 

Qatar presents a different profile, where the impact is more concentrated but significantly deeper in terms of technical complexity. Damage is centered on Ras Laffan Industrial City, where multiple liquefied natural gas (LNG) trains have been affected alongside disruption at the Pearl gas-to-liquids facility. This is now intersecting with QatarEnergy’s ongoing North Field expansion program, including the latest award to a consortium led by Technip Energies, with contractors already active across multiple phases. 

With these projects already under execution or in early construction, there is a clear overlap between expansion work and repair activity within the same industrial cluster. Both draw on similar pools of engineering teams, fabrication yards and site crews, even if not always the same contractors. If some of this capacity is redirected towards repair activity, it could lead to delays of a few months in ongoing expansion projects, especially where timelines are already tight. The impact is more likely to show up as slower progress on execution rather than any formal change in project schedules. 

E&C takes largest share of costs 

Rystad Energy estimates facility repair and restoration costs for impacted oil and gas facilities could cost about $46 billion. At the facility level, engineering and construction accounts for the largest share of total expected outlay, followed by equipment and materials. This is consistent with the dominance of downstream and integrated assets in the damage profile, where repair activity involves rebuilding structural components, reinstating process units and re-integrating complex systems.

The sequencing of spending is equally important. Engineering and assessment activity progresses relatively quickly, but the overall timeline is largely governed by procurement and fabrication of critical equipment. While construction and installation can proceed in parallel once materials are available, delays in equipment delivery continue to define the critical path across most major assets. As a result, recovery timelines are less dependent on on-site execution and more on how quickly operators can secure access to constrained supply chains. 

What is emerging is less a reconstruction program and more a competition for access – access to equipment, contractors and logistics capacity. Those that move early will secure capacity and shorten timelines, while others may face delays that extend well beyond the physical scope of damage. The pace of recovery will therefore be defined less by the scale of impact and more by access to constrained supply chains. 

Tyler Durden Fri, 04/17/2026 - 04:15

Germany's Anti-Immigration AfD Party Jumps To 27%, 4 Points Ahead Of CDU

Germany's Anti-Immigration AfD Party Jumps To 27%, 4 Points Ahead Of CDU

Via Remix News,

In a new poll from YouGov, the Alternative for Germany (AfD0 party jumped to 27 percent, now four points ahead of the rival Christian Democrats (CDU), in a sign that the AfD continues to distance itself as the most popular party in Germany.

AfD co-leader Alice Weidel was quick to publish the poll results on X, writing:

“4 percentage points ahead of the Union, 4 out of 5 citizens dissatisfied with Merz: We no longer have time for undemocratic firewalls. The political turnaround must happen now.”

The governing parties that make up the federal government are seeing their fortunes quickly fall.

The CDU/CSU fell by three percentage points to 23 percent, which was the lowest figure measured by YouGov since December 2021.

The SPD figure is at 13 percent, which fell one point from 14 percent.

Meanwhile, the Greens and the Left each gained one point, jumping to 14 percent and 10 percent respectively.

According to the poll, more and more Germans are dissatisfied, totaling 79 percent, with the work of the federal government led by Friedrich Merz. In comparison, in June 2025, this value was only at 55 percent.

Most threatening for Merz, CDU voters are increasingly turning on his government, with only 34 percent saying they are satisfied, falling from 48 percent in March.

Other polls have shown AfD at the top, but with a narrower margin, averaging between 25 and 26 percent of the vote.

Despite the AfD leading, the CDU has vowed to never form a coalition with the party.

If the AfD’s values hold into the next national election, it may become increasingly difficult to form a coalition without the party’s support.

Read more here...

Tyler Durden Fri, 04/17/2026 - 03:30

Drone Attack On Russia's Tuapse Oil Refinery Unleashes Fire So Large It Can Be Seen From Space

Drone Attack On Russia's Tuapse Oil Refinery Unleashes Fire So Large It Can Be Seen From Space

Russia and Ukraine have continued trading blows on key oil and energy sites, with the latest being a drone attack targeting Russia's Tuapse Oil refinery, which unleashed a fire so large it can be picked up by satellites in space.

The refinery is owned by Rosneft and has suffered major attack before, in a March 2025 Ukrainian operation. Local authorities have declared a state of emergency, after schools and residential buildings suffered damage, and all classes have been canceled.

According to the Amsterdam-based Moscow Times, "NASA satellite imagery on Thursday showed a plume of smoke extending around 200 kilometers (125 miles) into the Black Sea from Tuapse, which is located 80 kilometers (50 miles) northwest of the resort city of Sochi."

Krasnodar region Governor Venyamin Kondratyev confirmed that a woman and a teenage girl were killed in the attack on the northeastern Black Sea port town, with several more injured.

Russia's Defense Ministry announced the military had downed 207 drones overnight across multiple regions - listing off Belgorod, Kursk, Bryansk and the Krasnodar region, and the Black and Azov seas.

This is a somewhat 'normal' night in the now more than 4-year long brutal war. These daily and nightly cross-border attacks have largely slipped from mainstream headline coverage, however, given their frequency - to the point of being 'routine' (a grim reality).

Often even when refineries or major infrastructure is hit in either country, the event barely gets coverage in Western media at this point.

The ongoing Russian aerial assault of Ukraine continues to be more deadly. Ukrainian officials say that overnight attacks there killed 14 people in the capital area as well as Odesa and Dnipropetrovsk regions.

At least 700 drones and missiles were launched by Moscow forces overnight, which is a significant and high figure, even after all these years of aerial bombardment.

Currently the globe's attention is largely focused on the Iran war and the Hormuz Strait blockade, and with that efforts to reach a political and peace settlement in Ukraine have faded as well.

Tyler Durden Fri, 04/17/2026 - 02:45

Afghan Man Arrested For Series Of Rapes Of Goats And Sheep In France

Afghan Man Arrested For Series Of Rapes Of Goats And Sheep In France

Via Remix News,

A 19-year-old Afghan national has been arrested and charged following a series of brutal sexual attacks on goats and sheep in Pennes-Mirabeau, a municipality in Bouches-du-Rhône, near Marseille.

The suspect was taken into custody by the anti-crime brigade (BAC) on the night of April 9-10, 2026, after local sheep and goat owners alerted police.

Since early 2026, several owners had discovered their animals injured, with incidents reported in both February and March.

The animals had their legs tied and showed clear signs of rape, according to French newspaper La Provence.

After multiple similar episodes, the owners installed motion-sensor cameras on their properties in an attempt to identify the perpetrator.

The footage revealed the silhouette of a young man visiting their livestock at night, and the images were handed over to police, who were eventually able to identify a matching suspect.

The man appeared before a judge on Saturday, April 11, who ordered his placement in pre-trial detention. He was set to appear in court on Monday, April 13.

He faces up to three years in prison and a €45,000 fine for acts of cruelty toward domesticated animals.

The case has drawn the attention of the Animal Protection Association (SPA), which announced it would pursue civil action in the matter.

“[We] are going to take this barbarian to court,” the SPA declared.

“Thank you to the national police for their essential intervention.”

Previous cases

Last year in Germany, a shocking case has emerged from the beautiful town of Oberneufnach in Bavaria, which involved a 52-year-old Turkish asylum seeker allegedly breaking into a stable and sexually abusing ponies.

The man, who is from a refugee shelter in the nearby town of Anhofen, was arrested after he was caught on surveillance video.

The man broke into the horse farm at 6:45 p.m. while the family was having dinner. They heard the dog barking and then looked on surveillance monitors, where they saw the man in the stable with his pants down on top of one of the animals.

The boyfriend then ran to the stables to chase down the man, but he had already fled the scene. He continued his pursuit of the suspect though and eventually caught him. Police arrived and placed the man under arrest.

In 2023, a 27-year-old suspect was arrested after he was caught on a surveillance camera raping a pony at a stable south of Hamburg. The 18-year-old pony, which is named “Carrie,” was abused by the man at 1 a.m., with footage showing the man calmly walking onto the property and starting to attack the defenseless animal.

Steffi B. released the footage to German newspaper Bild, which posted stills of the perpetrator on its web publication.

The attack happened in Birkenmoor, which is in Harburg, just a few kilometers from the Hamburg city center.

Even the petting zoo at the park has not been safe. In 2017, a Syrian migrant raped a pony there in front of children.

“My babysitter was out with our son in Görlitzer Park. They witnessed the man sexually assault the pony,” one woman told Berliner Morgenpost at the time.

The babysitter took a photo of the man as he raped the pony and provided it to police. The migrant was banned from the petting zoo in response, but it is unclear if he was ever charged by police.

Read more here...

Tyler Durden Fri, 04/17/2026 - 02:00

Mises, Rothbard, & Libertarian 'Just War' Theory In The 2026 Iran War

Mises, Rothbard, & Libertarian 'Just War' Theory In The 2026 Iran War

Authored by Daniel Lacalle,

As of April 2026, the US and Israel are still at war with Iran. The war began on February 28 with surprise bombings that killed Supreme Leader Ali Khamenei and other high-ranking officials. Since then, attacks on infrastructure have continued, leading to significant disruptions in essential services and escalating tensions in the region. Iran has attacked targets in Gulf nations and tightened its grip on the Strait of Hormuz as a result.

The conflict has damaged the economy around the world, driving inflation and supply chain disruption fears.

The war is often considered a way to protect Israel, the Gulf nations, and, ultimately, the US against a brutal, theocratic dictatorship that was looking to build nuclear weapons and was the main financier of terrorism in the world.

However, there is a common libertarian question: Do libertarian ideas support sending troops to other countries to stop tyranny?

Ludwig von Mises, writing during the fight against Nazi Germany, supported quick military action.

In Omnipotent Government: The Rise of the Absolute State and Total War (1944), Mises stated that etatism, socialism, and autarky lead to absolute state control, which always leads to violence. Nazism was not an anomaly but the inevitable outcome of such policies, and compromise was unachievable.

Mises said Nazism was not only a German problem but also a threat to Western civilisations. The reader may observe strong parallels between the Iranian regime and its political and terrorist links to other totalitarian regimes, as well as its “death to America” and “annihilation of Israel” policies and its expansionist intentions toward Sunni nations.

Mises believed that if Nazism were not destroyed, the result would be total totalitarianism, reducing people to “slaves in a Nazi-run society” where the individual is rightless.

“The reality of Nazism faces everybody else with an alternative: they must smash Nazism or renounce their self-determination, i.e., their freedom and their very existence as human beings.” “If they yield, they will be slaves in a Nazi-dominated world.” Mises called on the Allies to “fight desperately until the Nazi power is completely broken.”

Mises was clearly against neutrality, saying, “In the current situation, neutrality is the same as supporting Nazism,” highlighting that a decisive victory or the ultimate defeat of Nazism were the only ways to bring back peace and liberal order.

People could only begin to construct a free society subsequent to “the total destruction of Nazism.”. We can argue that Mises believed that the government had a role in protecting civilisation from totalitarianism.

In 2026, a Mises follower would say that the Iranian regime’s theocratic totalitarianism, which includes spreading its influence and power globally, silencing dissent, fighting proxy wars, and looking for nuclear weapons to destroy Israel, is similar to Nazi etatism.

The free world might use strikes to destroy the Iranian regime’s military power and leadership in order to protect itself and avoid a larger war in the region or globally. If everyone had worked together to stop Hitler sooner, World War II might not have happened. Today, using strong force against Tehran could potentially stop a nuclear holocaust, Shiite terrorism, totalitarian expansion, or the massacre of Iranian civilian protesters.

However, Murray Rothbard disagreed with this rationale. He thought that all wars fought by the government were wrong, regardless of who they were against. Rothbard wrote about the non-aggression principle (NAP) in his articles “War, Peace, and the State” and in his bigger libertarian theory of conflict. Violence, he said, is acceptable solely for the protection of individuals from specific criminals, rather than against innocent individuals or through governmental coercion. “It is acceptable to use violence against criminals to protect one’s rights to life and property; however, it is completely unacceptable to infringe upon the rights of innocent individuals.”

Rothbard said that countries can’t fight just wars because they get their money through taxes and their military forces through conscription. He also reminded us that modern weapons are so deadly that they always kill civilians. Even a “defensive” war against tyranny gives the country that becomes involved more power at home. “War is the health of the state.” “True freedom from tyranny must come from the oppressed rising up against their oppressors, not from outside forces that only put a new ruler in place.” Rothbard would probably call U.S.-Israeli strikes “aggressive state expansion” in Iran, no matter how authoritarian the government was. He could argue that wars in the Middle East never seem to end to support his claim that foreign “liberation” always leads to more oppression at home.

There are important additional elements of debate.

The protests in Iran in 2025 and 2026 showed that it was almost impossible to obtain rid of the government from the inside, as evidenced by the government’s strong response to dissent and the lack of effective opposition movements that could challenge its authority. In late December 2025, protests about the economy quickly turned into calls for regime change all over the country. Security forces killed tens of thousands of people in January 2026. The government cut off the internet for the whole country, arrested over 50,000 citizens, tortured and made thousands disappear, and accelerated executions. This brutal suppression, one of the bloodiest crackdowns in modern history, may create doubts about Rothbard’s point. When a totalitarian regime has complete control over its security forces and is willing to kill its people, peaceful or even armed internal revolution becomes virtually impossible. If the regime has expansionary policies and finances terrorism and totalitarian regimes elsewhere, it may even be more problematic, as such actions can lead to increased international instability and the potential for external conflicts that distract from internal dissent.

This division of ideas exemplifies the fundamental libertarian just war theory.

The non-aggression principle (NAP) takes the old ideas of just war—just cause, right aim, last resort, proportionality, and discrimination and improves them. You can only attack people who are a real aggressive threat.

Both views may be relevant in the Iran war, and opinions may change depending on one’s personal perception of the threat posed by the Iranian regime.

Mises’ realism may be used to highlight the regime’s aggression, threats to Israel and America, and use of terrorism and proxy militias to justify strikes aiming at the lowest possible count of civilian casualties. Critics, following Rothbard, may say that the campaign goes against just war principles because it uses state force.

Is the Iran regime a global and national security threat or just another autocracy like so many others that exist in the world? The difference in perceptions about the war is likely to come down to this question. Consider whether you believe the actions of the Iran regime, both inside and outside the nation, pose a global threat or are irrelevant. I believe we can all agree that the Iranian regime has significant differences with other dictatorships. It is undeniable that the Iranian regime has a policy of annihilating Israel, states that “death to America is not a slogan but a policy,” and is involved in terrorist activities and the financing of dictatorships from Latin America to Lebanon. The question, then, is what actions should be taken in response? The answer will come down to each person’s view of the extent of the global threat that the Iranian regime supposes.

The war in Iran is sparking numerous debates among libertarians, demonstrating that libertarianism is not a cult that imposes unified thought. What matters, ultimately, is that independence of thought and free will remain as core principles of the debate.

Tyler Durden Thu, 04/16/2026 - 23:25

US Navy Destroyer Shows Off New Launcher For Mystery Weapons

US Navy Destroyer Shows Off New Launcher For Mystery Weapons

The U.S. Navy has quietly equipped one of its Arleigh Burke-class destroyers with a previously unseen launcher, reflecting a broader effort to counter the growing threat posed by drones in contested maritime environments, according to TWZ.

USS Carl M. Launcher mounted on Levin (DDG 120) (U.S. Navy, VIRIN: 260329-M-FP389-1205)

A U.S. Marine Corps photograph released April 8, taken March 29 at Pearl Harbor, Hawaii, shows the USS Carl M. Levin fitted with the system on its aft upper deck. The multi-cell launcher, positioned between the port-side torpedo tubes and the aft Mk 41 Vertical Launch System, was not visible in imagery of the ship as recently as December 2025, TWZ reported.

A Japanese-language defense blog first noted the addition on social media, prompting speculation that it may be designed for counter-unmanned aerial systems missions.

Similar launcher configurations appeared last year aboard the USS Bainbridge and USS Winston S. Churchill for Raytheon’s Coyote counter-drone interceptors, which have been used to engage low-cost aerial threats in the Red Sea and other regions, according to TWZ.

It remains unclear whether the system installed on the Levin is intended to deploy interceptors, loitering munitions, decoys or a combination of capabilities. Navy officials did not respond to requests for comment from TWZ.

The upgrade comes as President Donald Trump ordered the U.S. Navy to impose a naval blockade on Iranian ports beginning April 13. The operation, launched after the collapse of weekend talks in Islamabad, is aimed at interdicting maritime traffic to and from Iran, including along the Persian Gulf and Gulf of Oman, in an effort to increase economic pressure on Tehran. The blockade, applied across vessels of all nations, has contributed to volatility in global oil markets, with prices rising above $100 a barrel.

In the first 24 hours of the blockade, under direction from U.S. Central Command, no vessels succeeded in breaching the cordon, according to the Pentagon. Six merchant ships complied with instructions from U.S. forces and turned back to re-enter an Iranian port on the Gulf of Oman. More than 10,000 U.S. sailors, Marines and airmen, supported by more than a dozen warships and dozens of aircraft, are involved in the operation.

Trump has warned Iranian military ships against interfering with the blockade.

“Iran’s Navy is laying at the bottom of the sea, completely obliterated – 158 ships. What we have not hit are their small number of, what they call, ‘fast attack ships,’ because we did not consider them much of a threat,” the president wrote on Truth Social. “Warning: If any of these ships come anywhere close to our BLOCKADE, they will be immediately ELIMINATED.”

Tyler Durden Thu, 04/16/2026 - 23:00

India's Central Bank Tells Oil Refiners To Stop Buying Dollars On Spot Market

India's Central Bank Tells Oil Refiners To Stop Buying Dollars On Spot Market

By Julianne Geiger of OilPrice.com

India’s central bank has told state-run oil refiners to stop buying dollars in the spot market and instead use a government-backed credit line.

That matters because oil is priced in dollars, and refiners are some of the biggest buyers of dollars in the country. When they all go into the market at once to pay for crude, it puts direct pressure on the rupee. That pressure has been building for weeks.

The Reserve Bank of India is now stepping in to manage the demand.

State refiners, including Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation, have been asked to draw dollars through a special credit facility routed via State Bank of India. Together, these companies account for about half of India’s 5.2 million barrels per day of refining capacity.

Instead of going into the open market to buy dollars on the spot—meaning immediate purchase at current exchange rates—they can either access this credit line or buy dollars at a reference rate set by the central bank—potentially adding costs to India’s oil refiners.

The goal is simple: reduce visible demand for dollars in the market.

India’s currency has been under pressure. The rupee has fallen more than 3% this year and hit a record low past 95 per dollar in March, driven by higher oil prices and foreign capital outflows. Oil imports are a major factor. India imports the bulk of its crude, and every cargo requires dollar payments.

By centralizing those flows through SBI and shifting demand off the spot market, the RBI is trying to smooth out volatility and limit sharp moves in the currency.

The measures have been in place for about two weeks. Traders say activity from oil companies in the spot market has already slowed.

The move follows additional direction from India’s government in February, which asked refiners to consider buying more crude oil cargoes from the US and Venezuela, steering clear of Russian crude.

The central bank has also sold dollars from its reserves and tightened rules around certain currency trades. The rupee has since recovered about 2%, last trading near 93.20 per dollar.

For now, the strategy is focused on managing dollar demand at the source: oil imports

Tyler Durden Thu, 04/16/2026 - 22:35

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