Originally published at: https://peakprosperity.com/fuel-shortages-rationing-begin-trump-uses-lng-crisis-to-force-eu-trade-deal-military-adopts-palantir-ai/
Energy – Iran War Impacts
Hundreds of gas stations in Australia reported shortages, with over 109 in Victoria out of at least one fuel grade, 47 in Queensland lacking diesel, and 37 in New South Wales completely depleted. Energy Minister Chris Bowen reported 38 days of gasoline reserves, 30 days of diesel and jet fuel, and six tankers from Malaysia, Singapore, and South Korea canceled or deferred. Opposition figures blamed green energy policies for exposing import dependencies.
Oil shortages have also led to rationing, price caps, factory idles, and university closures in a dozen European and Asian countries. Reports indicate China saw long lines and export bans, South Korea imposed mandatory fuel rationing with government vehicles barred one day weekly on a license plate rotation, Bangladesh and Pakistan enacted four-day work weeks, Thailand banned air conditioning below 79 degrees Fahrenheit, India restricted natural gas for cremations, and Slovenia used QR codes and odd-even plates.
In the U.S., gasoline averages neared $4 per gallon, up nearly 33 percent this month per AAA data, the largest increase on record. Analysts noted consumers drive less and fill tanks partially at such psychological thresholds, with low-income households spending three times more of their income on fuel. Officials described the surge as temporary. Adding to domestic concern, Valero shut its Texas refinery after an explosion in a diesel unit. No injuries were reported, and the incident was contained without offsite effects.
Taking stock of the damage thus far, International Energy Agency Executive Director Fatih Birol stated the U.S.-Iran war has damaged 44 Gulf energy assets, removing 11 million barrels per day from supply. Birol said this exceeds the 1970s oil crisis and Ukraine turmoil combined. QatarEnergy’s LNG facility may take five years to repair, impacting fertilizers, food, and helium for AI chips. Repairs could take six months or longer for some sites.
Energy – Other News
U.S. Energy Secretary Chris Wright and Howard Lutnick broke ground on a $33.3 billion SoftBank-backed project in Pike County, Ohio, for 9.2 gigawatts of natural gas power plus transmission upgrades to support 10 gigawatts of AI data centers. Local residents voiced concerns over emissions and prior site contamination. The site also hosts Centrus Energy’s uranium enrichment, Oklo’s nuclear plans with Meta, and Vistra nuclear agreements.
In other news, X-energy filed for a Nasdaq IPO under ticker XE, developing the 80 MWe Xe-100 high-temperature gas-cooled reactor using TRISO-X fuel. Construction began on a Tennessee fuel facility for 700,000 pebbles annually by mid-2026. Environmental groups have objected to related projects on ecological grounds. The pipeline exceeds 11 gigawatts, including Dow’s Texas project, Amazon options for 5 gigawatts, Talen Energy evaluations, and U.K. commitments up to 6 gigawatts.
Geopolitics
President Trump issued an ultimatum to Europe for a $750 billion trade deal by March 26 or lose favorable U.S. LNG access. The statement comes amid Qatar’s Ras Laffan facility being offline for 3-5 years, Russian pipeline cuts, and Norway at capacity. Some observers have characterized the demand as economic blackmail. LNG prices have risen 35-50 percent since the Hormuz closure.
In other trade news, the FCC has banned imports of new foreign-made consumer wireless routers, citing national security risks from vulnerabilities exploited by state actors such as Volt Typhoon and Salt Typhoon for cyberattacks, espionage, and disruptions. The order applies to devices manufactured outside the U.S., including those from TP-Link, Netgear, Google Nest, Amazon Eero, Cisco, Linksys, and Asus, but spares existing units. Critics argue the measure could create supply shortages and price increases due to limited U.S. manufacturing. Exemptions are available via the Department of Defense or Homeland Security. The ban follows a similar action on foreign-made drones and aligns with probes into TP-Link.
Artificial Intelligence
The Pentagon plans to designate Palantir’s Maven AI system as a program of record, shifting oversight to the Chief Digital and Artificial Intelligence Office and routing future contracts through the Army. Deputy Secretary of Defense Steve Feinberg stated the move will provide warfighters with tools to detect, deter, and dominate adversaries. Critics have raised concerns about risks including targeting errors and civilian surveillance. Analysts described this as validation of Palantir’s role in military AI, with shares rising 4 percent following the report.
In China, State Grid, the country’s largest utility serving 1.1 billion people, has deployed robotic electricians across 26 provinces to work on live 10,000-volt wires. The robots strip insulation, tighten connections, and splice wires with millimeter precision while suspended at altitude, completing tasks 50 percent faster than human crews with a 98 percent success rate. Reports link such automation to job losses and pay reductions in China. China has announced $554 billion in power grid upgrades planned by 2030.
Additionally, a McDonald’s restaurant in Shanghai’s Pudong New Area is trialing humanoid robots from Keenon Robotics for customer service tasks, including greeting patrons and handling touchscreen orders. Footage shared by the company shows children interacting with the animal-like robots. The pilot has sparked concerns over potential job losses in the fast-food sector. The company described the deployment as a showcase of service automation in global dining. Keenon confirmed the robots’ use at the location.
Privacy & Surveillance
President Trump’s National Policy Framework on Artificial Intelligence includes age assurance requirements for AI platforms accessed by minors, potentially requiring adults to verify identity and age via third-party processes like government ID or biometrics. Republican Senator Marsha Blackburn’s 291-page bill bundles 17 policies mandating accounts with age verification for AI chatbots, freezing existing accounts until compliance. The framework emphasizes privacy-protective methods such as parental attestation without digital ID mandates. The framework, tied to initiatives like the Take It Down Act, reportedly aims to protect children from exploitation and self-harm but extends to parental tools for privacy and content management. Critics noted expansions in the U.K. and Australia led to ID requirements for searches, with states like Louisiana and Texas ruling similar laws unconstitutional.
Economy
Senators Thom Tillis and Angela Alsobrooks, along with the White House, reached a tentative agreement on cryptocurrency legislation addressing stablecoin yields. The deal reportedly aims to prevent deposit flight from banks by potentially barring passive yield payments on stablecoin balances while allowing activity-based rewards. Crypto industry leaders have described the yield restrictions as overly limiting. It builds on the GENIUS Act’s stablecoin framework and could advance the stalled crypto market-structure bill toward an April Senate vote.
Meanwhile, Apollo Global Management capped redemptions at 5 percent of shares in its $25 billion Apollo Debt Solutions business development company after investors requested 11.2 percent. The firm reported $730 million in gross outflows, offsetting $724 million inflows for the first quarter, and plans to maintain the cap next quarter. BlackRock imposed a similar 5 percent cap on redemption requests for its comparable fund. Net asset value fell 1.2 percent over three months despite a 1 percent return. Moody’s downgraded FS KKR Capital Corp., a $14 billion fund managed with KKR, to Ba1 junk status, citing a 5.5 percent non-accrual rate, asset quality challenges, and higher payment-in-kind income.
Health
A peer-reviewed survey of 3,475 adults across the U.S., Australia, and Canada found that one in eight U.S. adults reported adverse health effects from wireless radiation exposure. Rates were one in six Australians and one in 13 Canadians. About 10.1 percent of U.S. respondents, 14.9 percent of Australians, and 5 percent of Canadians received medical diagnoses of sensitivity. Symptoms included headaches, dizziness, cardiovascular issues, tinnitus, concentration difficulties, irritability, insomnia, fatigue, burning sensations, nausea, and dysesthesia. Those affected showed overlaps with chemical sensitivity (80 percent), asthma (over 70 percent), autism (over 50 percent), and fragrance sensitivity (over 80 percent). The authors linked effects to oxidative stress and called for more research, noting potential implications for children amid expanding wireless infrastructure.
Sources
Shanghai McDonald’s Trials Humanoid Robots for Customer Service
A McDonald’s restaurant in Shanghai is trialling a team of humanoid robots as staff
Apollo Gates Redemptions in $25B Fund as Private Credit Exodus Grows; KKR Vehicle Junked by Moody’s
Apollo Private Credit Fund Is Latest To Gate Investors As KKR Fund Gets Junked By Moody’s
FCC Bans New Foreign-Made Routers Over National Security Risks
The FCC has banned the import of all new foreign-made consumer wireless routers, citing “severe national security risks”.
Australia’s Pumps Run Dry: Hormuz Crisis Exposes Green Energy Gamble’s Perils
Hundreds of gas stations run dry in Australia as Hormuz shock exposes energy security failures
White House, Senators Strike Tentative Deal on Crypto Stablecoin Yields
Key senators and the White House have reached a tentative agreement on cryptocurrency legislation aimed at resolving a dispute between banks and digital asset firms over stablecoin yields, according to Politico reporting.
Wright and Lutnick Break Ground on $33B SoftBank-Backed Gas Power Hub for Ohio AI Data Centers
Yesterday in Ohio, we broke ground on a new partnership to build more than 9 gigawatts of natural gas power generation and a data center complex that will provide thousands of jobs and result in lower electricity costs.
X-energy Files for IPO as TRISO Fuel Supply Chain Accelerates
Nuclear Fuel Supply Chain Advancing Rapidly As Leading Reactor Developer X-energy Files For IPO
Palantir on “Golden Path” as Pentagon Advances Maven AI to Program of Record
The Department of War plans to designate its Maven artificial intelligence system as an official program of record.
Gas Nears $4: The Psychological Threshold Curbs Driving
Nearing Psychological Gas Price Level Where Consumers Drive Less
IEA Chief: Iran War Ignites Energy Crisis Worse Than 1970s Oil Shocks and Ukraine Turmoil Combined
This crisis, as things stand, is now two oil crises and one gas crash put all together,
1 in 8 US Adults Report Wireless Radiation Health Effects—What It Means for Kids
One in 8 U.S. adults reported adverse health effects from exposure to wireless radiation, according to a peer-reviewed report of nationally representative survey results.
Trump’s AI Framework: Child Protection or Mandatory Digital ID for All Online?
They tell you it’s to protect children, but what it does is force every single adult who uses the internet to link their identity to their activity online.
China’s Robots Eliminate Earth’s Deadliest Utility Job
The world’s largest utility company just eliminated one of the most dangerous jobs on earth.
Valero Shuts Texas Refinery After Diesel Unit Explosion, Sources Say
Valero shuts Texas refinery after explosion rocks diesel unit, sources say
Trump’s LNG Ultimatum: $750B Trade Deal or Europe Freezes Out
Trump basically just gave 450 million Europeans an ultimatum: sign the $750 billion trade deal by March 26 or lose favorable access to U.S. LNG.
Oil Shortages Ravaging Europe and Asia: Rationing, Factory Idles, and University Closures
A dozen countries have already imposed gas rationing, price caps, idled factories, and closing universities to avoid riots.
South Korea Rations Fuel: Hormuz Closure Hits Semiconductor Superpower
The world’s 10th largest economy, a G20 member, a semiconductor superpower, home to Samsung and SK Hynix, the country that fabricates a quarter of the world’s memory chips, is rationing fuel like Sri Lanka.
In addition to sources submitted by community members, the following were also used in the creation of this report: TheBloggingHounds; @M20Roge; @Armegdyllan; Songpinganq; Love Web3 World; Mario Nawfal; Shanaka Anslem Perera; Bloomberg; CNBC; WSJ; CoinDesk; BSCNews; HedgieMarkets; Eronima; CNET; AdameMedia; Microinteracti1; Angus Taylor MP; Matt_Camenzuli; Energy Secretary Chris Wright; Breaking911; Fox News; Reuters; Valero Energy; The Pioneer; Axel; Megatron; TRT World Now; Samskarebyaha; Viczub; Snowset; Inside Climate News; San Antonio Bay Estuarine Waterkeeper; ZeroHedge; White House; Daily Signal.
