06 Market

Potomac Sewage Disaster Shows Cost of ‘Equity’ Over Expertise– legalinsurrection.com

pgnewser March 18, 2026 0

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Legal Insurrection has been following news about the massive raw sewage spill caused by the Potomac Interceptor rupture.

This crisis illustrates the predictable consequences of neglected maintenance and questionable spending priorities by DC Water, resulting from political and managerial choices that prioritized image and amenities over core infrastructure, with downstream Maryland communities bearing the public‑health impacts.

We also took a look at DC Water’s 9,900% error in reporting E. coli levels after the spill, which reported 242,000 MPN/100 mL as 2,420 and may have ultimately been the result of the agency’s emphasis on diversity, equity, and inclusion programs, rather than concentration on mission priorities (e.g., technical competence and accurate, safety‑critical testing procedures and interpretation).

Finally, we have some good news to share regarding this historic spill. DC Water has finally completed the emergency repair and restored flow to the Potomac Interceptor, and is now shifting to long‑term pipe rehabilitation and environmental cleanup.

After nearly two months of emergency repairs, D.C. Water says it has restored flow through the Potomac interceptor, the same pipe that collapsed in January and caused one of the largest sewage spills in U.S. history.

Officials announced the milestone Saturday after crews spent 55 days working around the clock to repair the damaged sewer line along the Potomac River.

The collapse, which happened Jan. 19, caused roughly 250 million gallons of sewage to spill into the Potomac River.

Dems ‘Have to Stick to Their Guns’ on DHS Shutdown, ICE’s Actions ‘a Lot More Inconvenient’ than Airport Issues– www.breitbart.com

pgnewser March 18, 2026 1

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On Monday’s broadcast of “CNN NewsNight,” CNN Senior Commentator Van Jones said that “Democrats have to stick to their guns” on the DHS shutdown “because, as inconvenient as it is in an airport, it’s a lot more inconvenient to have ICE agents doing all kinds of terrible stuff, and they should be put back in a box.”

Host Abby Phillip asked, “This is starting to affect people. Van, you were saying you were in Austin this weekend. Is it time for Democrats to compromise?”

Jones answered, “No, I think Democrats have to stick to their guns, because, as inconvenient as it is in an airport, it’s a lot more inconvenient to have ICE agents doing all kinds of terrible stuff, and they should be put back in a box. However, I was in Austin, trying to leave South by Southwest. I had a 6 a.m. flight. I got there at 3 a.m. There were people, literally outside, wrapped around. It was complete — unbelievable lines. I had PreCheck and CLEAR. I barely made my flight. And then, they pulled the plane out, because it’s time to go, but the plane’s only half full, and the bags are there…so, we literally had to sit on the tarmac for an hour and then come back to re-balance the plane. Meanwhile, the people who could have made the plane balanced were stuck. It was just — the whole thing was so nutty.”

Oil tankers are ‘starting to dribble through ‘Strait of Hormuz,’ U.S. says – National– globalnews.ca

pgnewser March 18, 2026 0

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Oil tankers are crossing the Strait of Hormuz and Iran’s actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration’s position that the war should be over in weeks, not months.

“Already you’re seeing tankers are starting to dribble through the straits, and I think it’s a sign of how little Iran has left,” he said.

“We’re very optimistic that this is going to be over in the short run, and then there will be price repercussions when it is over for a few weeks, as the ships make it to the refineries.”

Israel says it has plans for at least three weeks of war as airstrikes pound Iran– www.channelnewsasia.com

pgnewser March 16, 2026 0

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OIL SLIPS ON BESSENT SHIPPING COMMENTS

Despite the turbulence, oil prices, which had been above US$100 a barrel, fell sharply and stocks rallied after US Treasury Secretary Scott Bessent told CNBC the US was “fine” to let some Iranian fuel vessels sail through the strait, and believed Indian and Chinese tankers had also passed through.

Ship-tracking data showed a Pakistan-bound oil tanker had passed through the Strait of Hormuz over the weekend, indicating that some countries are able to negotiate safe passage for their vessels.

On Sunday, Trump had demanded that countries relying heavily on oil from the Gulf should help protect the strait, and said he hoped China, France, Japan, South Korea, Britain and others would participate.

However, many – including Germany, Italy, Greece, Japan and Australia – said they would not send warships.

Trump Vows to Continue Tariffs After Supreme Court Limits Emergency Trade Powers– slaynews.com

pgnewser March 16, 2026 0

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President Donald Trump said his administration will continue pursuing tariffs through alternative legal authorities after the U.S. Supreme Court struck down a major portion of his administration’s tariff program earlier this year.

In a post on Truth Social, Trump criticized the ruling but emphasized that the decision did not eliminate his ability to impose tariffs through other laws.

“The Court knew where I stood, how badly I wanted this Victory for our Country, and instead decided to, potentially, give away Trillions of Dollars to Countries and Companies who have been taking advantage of the United States for decades,” Trump wrote.

China urges US to correct ‘erroneous ways’ over trade probes ahead of Paris talks– www.france24.com

pgnewser March 16, 2026 0

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Beijing said on Monday it has “lodged representations” and urged Washington to “correct its erroneous ways” after the US launched new trade probes last week, with negotiators from both countries meeting in Paris.

Washington’s trade investigations target 60 economies including China and will look into “failures to take action on forced labor” and whether these burden or restrict US commerce.

Those investigations came a day after a separate set of US probes centred on excess industrial capacity that target 16 trading partners including China, which Beijing’s foreign ministry criticised as “political manipulation”.

“We urge the US side to immediately correct its erroneous ways, meet China halfway… and resolve issues through dialogue and negotiations,” Beijing’s commerce ministry said in a statement.

Trump-Xi China summit may be delayed if Trump wants to stay in Washington for Iran war: Bessent– www.cnbc.com

pgnewser March 16, 2026 0

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Treasury Secretary Scott Bessent said Monday that the meeting between President Donald Trump and Chinese Leader Xi Jinping could be delayed for logistical reasons during an appearance on CNBC’s “Squawk Box.”

Trump suggested on Sunday that the summit could be delayed as the U.S. pressures China to help the U.S. reopen the Strait of Hormuz. Bessent walked those comments back on Monday, arguing the summit would be delayed if Trump chooses to stay in Washington to coordinate the war effort in Iran.

“If the meetings are delayed, it wouldn’t be delayed because the president demanded that China police the Strait of Hormuz,” Bessent said in an interview with CNBC’s Brian Sullivan in Paris. “If the meeting, for some reason, is rescheduled, it would be rescheduled because of logistics.”

Should We Be Handing Out Subsidies to Data Center Developers? – RedState– redstate.com

pgnewser March 13, 2026 0

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The growing use of artificial intelligence (AI) is upon us. And as technology companies try to meet the skyrocketing demand for AI-specialized computing capacity, they are dotting the country with data centers – to the dismay of some, but the delight of others. As is all too often the case, many of these companies are coming to states and cities and receiving taxpayer-supported subsidies or tax exemptions.

Dire Straits for Midterms? Gas Price Surge Troubles Senators– www.dailysignal.com

pgnewser March 13, 2026 0

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Amid uncertainty in a vital global shipping lane brought on by the conflict with Iran, gas pump prices are way up.

Some in Congress think that could be a problem for their constituents and for Republicans’ chances in the midterms.

“Naturally, we’re all really concerned,” Sen. Jim Justice, R-W.Va., told The Daily Signal of the gas prices.

Nevertheless, Justice framed it as part of the cost of taking on Iran.

Trump raises China stakes with Section 301 trade probe before Beijing Xi meeting– www.cnbc.com

pgnewser March 12, 2026 0

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With a high-stakes summit in Beijing less than three weeks away, the U.S. has launched sweeping trade investigations that put China squarely in its crosshairs, adding a new layer of friction to an already complicated relationship.

The probes, which will be conducted under Section 301 of the Trade Act of 1974, aim to identify unfair trade practices, particularly structural excess capacity and production in manufacturing sectors.

While casting a wide net over a dozen trading partners, the move takes a clear aim at China, given its well-documented issues such as overcapacity and forced labor, said Dan Wang, China director at the political consultancy Eurasia Group.

As Trump’s negotiating position has been weakened by the military aggression in Iran, “U.S. needs to establish credible threat on tariffs as it remains Trump’s top pressure tool,” Wang said, although Beijing was likely unsurprised by the escalation.

“Maximizing leverage before major bilateral meetings seems to be a standard move now,” she said.

The probes followed the U.S. Supreme Court’s decision last month to strike down Trump’s “reciprocal” tariffs, which curtailed his ability to deploy tariffs at will, giving China a boost in leverage ahead of the summit.

The Trump administration is “pivoting to its other tools to continue its tariff agenda … [tariff] is clearly a card that Trump wishes to have in his pocket for negotiations,” said Lynn Song, chief economist at ING Bank.

Oil Prices Rise as Iran Strikes Multiple Tankers in Defiance of Trump– www.westernjournal.com

pgnewser March 12, 2026 0

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Iran is escalating its war on the world by attacking multiple oil tankers, sending oil prices skyrocketing.

Iran’s actions came despite a Truth Social warning from President Donald Trump on Tuesday that, “If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far.”

In the early hours of Thursday, three oil tankers were set ablaze, according to CNBC, following three ships attacked on Wednesday.

How the Iran war is disrupting the Strait of Hormuz– www.channelnewsasia.com

pgnewser March 12, 2026 0

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Maritime traffic through the Strait of Hormuz has almost completely stopped in the days since the United States and Israel launched strikes against Iran.

Iran sits above this strategic waterway, which is a vital route for exports of oil, gas and other commodities from the Persian Gulf, and has targeted tankers in the area.

Its Islamic Revolutionary Guard Corps has warned ships not to sail through the passageway, saying that vessels “could be at risk from missiles or rogue drones”, according to Iran’s semi-official Fars news agency.

Oil prices jump, U.S. markets retreat as Iran war worsens supply concerns – National– globalnews.ca

pgnewser March 12, 2026 0

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Markets on Wall Street retreated and oil prices jumped another five per cent again early Thursday as the war in Iran approached its second week with no indication that the United States and Israel were ready to scale back their attacks.

Futures for the S&P 500 lost 0.5 per cent before the opening bell, while futures for the Dow Jones Industrial Average were 0.6 per cent lower. Nasdaq futures were also down 0.5 per cent. On Wednesday, the Dow declined 0.6 per cent to its lowest level the year.

Oil prices initially shot more than nine per cent higher as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz. The U.S. campaign of airstrikes in Iran is now in its 13th day.

Iran’s war tactic of punishing U.S. Gulf allies sends oil prices back up and stock markets down– www.cbsnews.com

pgnewser March 12, 2026 0

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Oil prices rose back above $100 and stocks sank Thursday as Iran’s attempts to hit supplies in the Middle East and bring down the global economy overshadowed a record release of strategic crude reserves by the International Energy Agency.

Stock markets in Asia closed down Thursday and European markets opened with losses as investors saw few signs the U.S.-Israeli war with Iran would end soon, despite President Trump’s repeated assurances that it would.

U.S. Energy Secretary Christopher Wright announced on Wednesday that the U.S. would release 172 million barrels of oil from its Strategic Petroleum Reserve, while the International Energy Agency — which has 32 member nations, including the U.S. — announced it would release 400 million barrels from its own reserves.

Can Trump’s ‘gunboat diplomacy’ stop Iran from blocking the flow of oil? Not likely, say experts– www.cbc.ca

pgnewser March 12, 2026 0

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With jagged cliffs rising from the Arabian Sea, the Strait of Hormuz is striking in its scenery — and these days, its emptiness. This resource superhighway, which normally hosts more than a hundred of the world’s largest oil and liquid natural gas (LNG) tankers every day, has seen no more than a handful all week.

They are the brave ones, daring to run these front lines where U.S. and Iranian naval forces face off. At least 14 commercial vessels have suffered some kind of violent incident, leaving at least eight mariners dead.

Oil shortage chaos as emergency meeting called with petrol prices surging | World | News– www.express.co.uk

pgnewser March 11, 2026 0

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An emergency meeting has been called amid fears over a severe global oil shortage, with petrol prices already surging in the UK. Over 30 members will “assess the current security of supply and market conditions to inform a subsequent decision on whether to make emergency stocks […] available to the market,” IEA Executive Director Fatih Birol said in a statement.

Oil prices dropped by more than 11% as markets began anticipating a release of emergency oil reserves, a sharp reversal after prices had surged to nearly $120 per barrel on Monday following the supply disruption. Fatih Birol noted that energy ministers from the Group of Seven nations met earlier on Tuesday to discuss possible responses to the crisis.

64 cents higher than a month ago, and no state averages under $3 per gallon– www.washingtonexaminer.com

pgnewser March 11, 2026 0

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The national average price for regular gas continues to soar, reaching $3.578 per gallon on Wednesday morning. The price point marks a 64-cent-per-gallon increase compared to a month ago, according to AAA.

The rise in gas prices over the last month is the largest single monthly increase since 2022, when fuel costs increased by 71 cents per gallon between February and March, according to data from the U.S. Energy Information Administration. Between the week of February 9, 2026, and March 9, 2026, the average price for regular grade gasoline rose from $2.902 per gallon to $3.502 per gallon, according to the EIA. Moreover, gas prices today are nearly 50 cents per gallon more expensive than a year ago, according to AAA.

Oil falls after Energy secretary wrongly claims tanker escort– www.cnbc.com

pgnewser March 11, 2026 0

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Oil prices retreated Tuesday, even after Secretary of Energy Chris Wright wrongly claimed in a social media post that the U.S. Navy had escorted a tanker through the Strait of Hormuz.

“The U.S. Navy has not escorted a tanker or a vessel at this time,” White House Press Secretary Karoline Leavitt told reporters Tuesday.

U.S. crude oil fell 11.94% to close at $83.45 per barrel. Brent crude, the global benchmark, lost 11.28% to settle at $87.80. Prices fell more than 17% immediately after Wright’s post.

Trump administration urged to take on China’s ‘Pharma Death Grip’– www.washingtonexaminer.com

pgnewser March 11, 2026 0

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The Trump administration is being urged to tackle imported generic pharmaceuticals, most of which are made in China, due to national security implications.

Sen. Rick Scott (R-FL), chairman of the Senate Special Committee on Aging, wants the Commerce Department to consider using Section 232 national security tariffs on imported generic medicines and their ingredients. Such a move would frame the U.S. pharmaceutical supply chain as a national security vulnerability rather than a purely economic issue.

The push comes as policymakers recognize the United States relies heavily on China for key pharmaceutical materials, particularly the raw components of many antibiotics, while producing a small share domestically, China specialist Gordon Chang said.

“Healthcare, as evident in country after country, is best left to the market, but as China weaponizes trade—and continually threatens war—it’s clear that Washington has to temporarily implement non-market solutions to ensure that Americans have access to the medicines they need,” he wrote in a paper published on Conservative Political Action Conference’s website titled “China’s ‘Pharma Death Grip’ on America.”

Nikkei plunges over 2,800 points in 3rd largest drop in history– japantoday.com

pgnewser March 10, 2026 0

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Tokyo stocks plunged Monday, with the Nikkei index losing over 2,800 points and marking the third-largest point drop in history, as crude oil futures surged amid growing prospects of a prolonged Middle East conflict.

The 225-issue Nikkei Stock Average ended down 2,892.12 points, or 5.20 percent, from Friday at 52,728.72. The broader Topix index finished 141.09 points, or 3.80 percent, lower at 3,575.84.

On the top-tier Prime Market, the main decliners were nonferrous metal, glass and ceramics product and machinery issues.

The U.S. dollar mostly stayed in the upper 158 yen range in Tokyo amid concerns about the impact of surging crude prices.

At 5 p.m., the dollar fetched 158.45-47 yen compared with 157.79-89 yen in New York and 157.52-55 yen in Tokyo at 5 p.m. Friday.

Trump’s war spikes gas prices—and gets Iran a worse leader– www.dailykos.com

pgnewser March 10, 2026 0

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Seven American service members are dead, dozens of Iranian children were murdered by a U.S. missile strike, oil is raining from the skies to poison the air for thousands of people living in Iran following an Israeli missile strike, and oil and gas prices worldwide are surging as the war has led to the blockade of a critical waterway used to transport oil.

But hey, at least we have a new Iranian leader who is in some ways worse than the murderous oppressor whom the United States killed a little over a week ago!

Indeed, Iran announced on Sunday that it replaced Supreme Leader Ayatollah Ali Khamenei with his son Mojtaba Khamenei. The 56-year-old religious cleric lost his mother, wife, and a son, as well as his father, to U.S. strikes.

Given his relative youth, Iran’s new supreme leader could have many years left to rein over the nation with an iron fist. That means we spent billions, lost American lives, and potentially decimated the global economy only to put in someone who may in fact be more extreme than the previous guy who brutally oppressed both dissenters and women.

It Appears Ships are Sailing, Once Again, Through the Strait of Hormuz– legalinsurrection.com

pgnewser March 10, 2026 0

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My colleague Mary Chastain noted in her recent report that President Donald Trump’s team was weighing a takeover of the critical shipping lane of the Strait of Hormuz, through which a vast amount of global oil supply flows.

This development follows on the heels of continuing military targeting covered by our talented Vijeta Uniyal.

I would like to focus on the Strait for a moment, as I noted in an earlier report that Trump ordered a US agency to provide insurance for companies willing to sail through the region. That plan is moving forward.

The U.S. will provide reinsurance ‌for losses up to $20 billion in the Gulf region, to help provide confidence for oil and gas shippers during the war on Iran, the U.S. International Development Finance Corporation said on Friday.

President Donald Trump on Tuesday ordered the DFC to provide political risk ​insurance and financial guarantees for maritime trade in the Gulf after oil and liquefied natural gas ​tanker transit had ground to a halt in the Strait of Hormuz waterway off ⁠Iran, where ordinarily 20% of global oil moves daily.

High Oil Prices ‘Small Price to Pay’ for ‘Peace,’ Trump Declares  – www.dailysignal.com

pgnewser March 10, 2026 0

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President Donald Trump says a sharp increase in high oil prices is a “small price to pay” in the fight against Iran.

“Short-term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, are a very small price to pay for the U.S. and world safety and peace,” Trump wrote on Truth Social, adding, “ONLY FOOLS WOULD THINK DIFFERENTLY!”

Oil prices have risen to more than $100 a barrel since the United States launched its attack on Iran in conjunction with Israel, killing Iranian Supreme Leader Ali Khamenei and striking hundreds of Iran’s military targets.

Crude oil futures in London and New York soared almost 30% to nearly $120 a barrel on Monday, one of the biggest one-day jumps on record in early trading, threatening to raise costs of products from gasoline to jet fuel.

Trump Promises ‘Death, Fire, and Fury’ Should Iran Interfere With Oil Transportation– townhall.com

pgnewser March 10, 2026 0

Blurb:

President Donald Trump has issued a warning to the Islamic Republic of Iran, stating that “death, fire, and fury will reign upon” the Persian state should they interfere with the transportation of oil through the Strait of Hormuz, a vital sea trade route.

Trump claimed that American forces would strike the country “twenty times harder” and will “make it virtually impossible for Iran to ever be built back,” he said in his post to Truth social. The IRGC still seems to think that they are in the driver’s seat, however. They claim that they will be the ones to determine the end of conflict, but that would only be true in the sense that they would choose the date of their surrender.

Trump’s message comes after an Iranian announcement claiming that they would allow nations who would expel American and Israeli diplomats to have free passage through the Strait of Hormuz.