This week, I appeared on Daniel Davis’s and Mario Nawfal’s shows. First, Daniel and I discussed Trump’s claim that the Iran war is nearly over and energy prices will soon plunge, versus the real damage to oil infrastructure, record diesel costs hitting farmers and truckers, drained SPR stocks, constrained global supply, coming cost-push inflation, and why walking away and rebuilding flows is the only way to limit a deep recession. Next, Mario and I discussed record diesel prices and the East-West pipeline shock that has left Europe and Asia short of crude and products, the messy fallout of a possible U.S. diesel export ban, bond-market pressure from inflation and fiscal excess, and how years of policy have widened inequality and hollowed out the middle class. Both interviews are below!
Airlines are already cutting flights and it’s because of the higher prices of jet fuel and not enough supply to go around.
Excerpt: “In the past two weeks, American, United and Southwest have all confirmed they are pulling flights out of their schedules, and every one of them has pointed at the same cause: fuel. United says it has removed flights already on its December schedule and warned it may cut further into the first quarter of 2027 if prices stay where they are. American has temporarily suspended six routes — four of them out of Los Angeles, two connecting Charlotte to California — and is reviewing more. Southwest has quietly cut its planned 2026 capacity growth roughly in half, from an original target of 2 to 3 percent. And the first outright casualty is already in the ground: Spirit finished its wind-down in May, undone by a restructuring plan that had assumed jet fuel near $2.24 a gallon and then watched it climb to around $4.51.
Here is the sentence I want you to hold onto, because it is the whole story compressed. United’s chief financial officer, explaining the cuts, said the airline is now flying “to maximize profitability and free cash generation” — not market share.”
Breaking News! Riyadh Airport under attack. Trump and NuttenYahoo. The gifts that keep on giving, even if you don’t want the gift. If this were Halloween it would be all tricks and no treats.
