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Psychedelic Stocks Soar After Trump Order; RBC Says Commercialization Path Could Accelerate
Psychedelic Stocks Soar After Trump Order; RBC Says Commercialization Path Could Accelerate
Psychedelic drug stocks soared in premarket trading in New York after President Trump signed an executive order aimed at accelerating research and expanding access to therapies used for post-traumatic stress disorder (PTSD).
"The executive order I'm signing, we're actually signing the executive order today, is really a moment," Trump said at the signing event. "These treatments are currently in the advanced stages of clinical trials to ensure that they're both safe and effective for the American patients."
President Trump signed an executive order directing the FDA to expedite review of psychedelic drugs like ibogaine, which advocates say could treat PTSD and other mental health conditions https://t.co/vBk8EoguVF https://t.co/AEW6V2merr
— Reuters (@Reuters) https://twitter.com/Reuters/status/2045565523526852963?ref_src=twsrc%5Etfw
Trump's order, signed on Saturday, directs the FDA to prioritize review of certain breakthrough-designated psychedelic therapies, expands potential access under the Right to Try Act, commits at least $50 million in federal funding for state partnerships, and encourages closer coordination among HHS, the FDA, the VA, and private-sector researchers.
"In many cases, these experimental treatments have shown life-changing potential for those suffering from severe mental illness and depression, including our cherished veterans," Trump said, citing the veteran suicide rate.
The order also instructs the Justice Department to move quickly on rescheduling any psychedelic-based product that successfully completes Phase 3 trials and receives FDA approval.
Trump continued, "And the nice part is we're actually doing this early, but it has been going on. Research has been going on for quite some time. But, you know, usually with things like this, nothing ever happens, no matter how the research ends up, but we're changing that. This order will clear away unnecessary bureaucratic hurdles, improve data sharing among the FDA and the Department of Veterans Affairs, and facilitate fast rescheduling of any psychedelic drugs that become FDA-approved."
Accelerating Medical Treatments for Serious Mental Illness🇺🇸https://twitter.com/joerogan?ref_src=twsrc%5Etfw: "For 56 years we've lived under those terrible conditions. We're free of that now. Thanks to all these people... and thanks to President Trump." https://t.co/j1tkGACSM7 https://t.co/aQmZl3z4PG
— The White House (@WhiteHouse) https://twitter.com/WhiteHouse/status/2045499757552890335?ref_src=twsrc%5Etfw
Oppenheimer analyst Jay Olson told clients that Trump's weekend executive order "represents a structural inflection point for the U.S. psychedelics sector by facilitating research, regulatory timelines, and patient access, which reinforces our positive outlook."
In response, psychedelic drug stocks in premarket trading, such as Compass Pathways jumped 24.5%, Atai Beckley gained 28%, Definium Therapeutics rose 13%, and GH Research added 17%.
"The path to commercialization could be even faster now," RBC analyst Brian Abrahams told clients, adding that the executive order "accelerates psychedelics as the key next wave of mental health treatments."
Abrahams' research covers Definium Therapeutics, Compass Pathways, and GH Research. He said those stocks are likely to benefit the most.
Jefferies analyst Andrew pointed out that with the federal government increasingly aligned on psychedelics, "investor mindshare should rise meaningfully ahead of potential approvals in 2027-30."
This marks another big win for the psychedelic space.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 07:45
https://www.zerohedge.com/markets/psychedelic-stocks-soar-after-trump-order-rbc-says-commercialization-path-could-accelerate
Psychedelic Stocks Soar After Trump Order; RBC Says Commercialization Path Could Accelerate
Psychedelic drug stocks soared in premarket trading in New York after President Trump signed an executive order aimed at accelerating research and expanding access to therapies used for post-traumatic stress disorder (PTSD).
"The executive order I'm signing, we're actually signing the executive order today, is really a moment," Trump said at the signing event. "These treatments are currently in the advanced stages of clinical trials to ensure that they're both safe and effective for the American patients."
President Trump signed an executive order directing the FDA to expedite review of psychedelic drugs like ibogaine, which advocates say could treat PTSD and other mental health conditions https://t.co/vBk8EoguVF https://t.co/AEW6V2merr
— Reuters (@Reuters) https://twitter.com/Reuters/status/2045565523526852963?ref_src=twsrc%5Etfw
Trump's order, signed on Saturday, directs the FDA to prioritize review of certain breakthrough-designated psychedelic therapies, expands potential access under the Right to Try Act, commits at least $50 million in federal funding for state partnerships, and encourages closer coordination among HHS, the FDA, the VA, and private-sector researchers.
"In many cases, these experimental treatments have shown life-changing potential for those suffering from severe mental illness and depression, including our cherished veterans," Trump said, citing the veteran suicide rate.
The order also instructs the Justice Department to move quickly on rescheduling any psychedelic-based product that successfully completes Phase 3 trials and receives FDA approval.
Trump continued, "And the nice part is we're actually doing this early, but it has been going on. Research has been going on for quite some time. But, you know, usually with things like this, nothing ever happens, no matter how the research ends up, but we're changing that. This order will clear away unnecessary bureaucratic hurdles, improve data sharing among the FDA and the Department of Veterans Affairs, and facilitate fast rescheduling of any psychedelic drugs that become FDA-approved."
Accelerating Medical Treatments for Serious Mental Illness🇺🇸https://twitter.com/joerogan?ref_src=twsrc%5Etfw: "For 56 years we've lived under those terrible conditions. We're free of that now. Thanks to all these people... and thanks to President Trump." https://t.co/j1tkGACSM7 https://t.co/aQmZl3z4PG
— The White House (@WhiteHouse) https://twitter.com/WhiteHouse/status/2045499757552890335?ref_src=twsrc%5Etfw
Oppenheimer analyst Jay Olson told clients that Trump's weekend executive order "represents a structural inflection point for the U.S. psychedelics sector by facilitating research, regulatory timelines, and patient access, which reinforces our positive outlook."
In response, psychedelic drug stocks in premarket trading, such as Compass Pathways jumped 24.5%, Atai Beckley gained 28%, Definium Therapeutics rose 13%, and GH Research added 17%.
"The path to commercialization could be even faster now," RBC analyst Brian Abrahams told clients, adding that the executive order "accelerates psychedelics as the key next wave of mental health treatments."
Abrahams' research covers Definium Therapeutics, Compass Pathways, and GH Research. He said those stocks are likely to benefit the most.
Jefferies analyst Andrew pointed out that with the federal government increasingly aligned on psychedelics, "investor mindshare should rise meaningfully ahead of potential approvals in 2027-30."
This marks another big win for the psychedelic space.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 07:45
https://www.zerohedge.com/markets/psychedelic-stocks-soar-after-trump-order-rbc-says-commercialization-path-could-accelerate
From Leverage To Liability: The Hormuz Strait Is Now Iran's Biggest Weakness
From Leverage To Liability: The Hormuz Strait Is Now Iran's Biggest Weakness
https://www.dlacalle.com/en/from-leverage-to-liability-the-hormuz-strait-is-now-irans-biggest-weakness
For half a century, the Strait of Hormuz was Iran’s weapon. Today, it is its noose.
The mathematics of energy have flipped, and with them the balance of coercive power in the Persian Gulf.
Iran’s implicit deterrent was geographic, spanning from the tanker wars of the 1980s to the sanctions standoffs of the 2010s. Almost 20% of global seaborne oil, and a similar share of liquefied natural gas, passes through the Strait. The formula was simple: any military confrontation that threatened the Tehran regime risked a closure that would halt trade supplies, spike crude prices, bleed Western consumers, and, above all, inflict pain on the United States, who was the world’s largest oil importer.
The strait served as Tehran’s insurance policy and its most powerful bargaining tool. The threat was predicated on the regime’s belief that it could block everyone except its exports. The Iranian regime revealed its biggest weakness by constantly threatening to damage the global economy through a shutdown of the Strait. In reality, a total shutdown has the most severe impact on Iran.
Almost 90 per cent of Iran’s crude exports, and about 80 per cent of its total exports, depend on the transit through Hormuz. Around 25 per cent of Iranian GDP and 60 per cent of government revenues depend completely on having the Strait open.
Before the war, Iran was exporting roughly 1.7 million barrels per day, receiving around $160 million in daily revenue from exports via the Strait. Thus, Trump’s full closure of the Strait costs Tehran hundreds of millions of dollars a day in losses, not accounting for the additional fiscal and currency consequences in a country already facing an economic disaster with 40–50% inflation. The complete dependence on the Strait of Hormuz also adds to another weakness: 95% of Iranian crude at sea is sold to a single buyer, China. Tehran is not selling into a diversified and open market. Its exports are sold to a monopsony that demands large discounts, between 10 and 11 dollars per barrel.
These weaknesses were visible long before the war. Capital flight reached $15 billion in the first half of 2025 alone; the rial collapsed against the dollar, and the government’s budget, which allocates 51 per cent of oil revenues to the Islamic Revolutionary Guard Corps, became even more dependent on a single export route it could not afford to close. When the war began, Iranian crude shipments collapsed by 94%. Then, the United States’ decision to block all Iran export vessels showed that Iran’s chokepoint had become self-choking.
In the past 30 days, 80% of the essential volumes that moved through the Strait have been rerouted or offset by other oil producers, including US record exports.
The world is very different from what the Iran regime thought. In 2025, U.S. crude oil production hit a new annual record of 13.6 million barrels per day, making the United States the world’s largest producer but also the biggest exporter. The United States shipped 5.2 million barrels per day of crude and 7.2 million barrels per day of petroleum products in March 2026, both global records. For the first time, America exported more petroleum than it imported, by a net margin of almost 2.8 million barrels per day, according to the EIA. Total US liquids production now exceeds that of Saudi Arabia and Russia combined. On the natural gas side, U.S. LNG exports reached well over 15 billion cubic feet per day, surpassing Qatar and Australia to make the United States the world’s largest liquefied natural gas exporter, while U.S. dry gas production exceeds the combined output of Russia, Iran, and China. Furthermore, the United States is also the world’s largest producer of nuclear electricity, at roughly 30 per cent of global generation, and a global leader in renewable energy.
When President Trump could say in April 2026 that the United States was “clearing the Strait as a favour to countries around the world, including China, Japan, Korea, and Germany,” the framing was an accurate description of who needs Hormuz open and who does not. Only 4% of the traffic through the Strait goes to the United States, according to SP Global.
According to the International Energy Agency, throughput at Hormuz collapsed from its long-run average of about 20 million barrels per day to 3.8 million since the beginning of the war through the second week of April. Daily ship transits fell roughly 95 per cent. The Tehran regime, in a gesture more theatrical than realistic, attempted to levy a $2 million toll on each vessel crossing the strait, without understanding that the move showed desperation instead of leverage.
The US response has been the most important measure deployed against Iran in two decades of standoffs. Operation Economic Fury established a full naval blockade of Iranian ports. Iranian naval losses in the first 38 days of combat exceeded 150 vessels. The ceasefire framework under negotiation requires Iran to reopen Hormuz, but the US maintains control. Thus, negotiations revolve around Iranian dismantlement, not American concessions.
The lesson is not just that Iran miscalculated but that it massively underestimated its obvious weaknesses. The United States is not a hostage of the Gulf; it is the guarantee of its safe sea lanes. Europe is tied to U.S. LNG while keeping a substantial Russian dependence, which complicates its energy security and makes it vulnerable to fluctuations in supply and price from both sources. Asia’s largest economies, particularly China, are suffering the marginal cost of a Hormuz disruption, which has led to increased energy prices and supply chain uncertainties that further exacerbate their economic challenges. Iran’s economic nightmare has only started.
Three important factors must be considered.
-
First, the traditional Hormuz risk premium in Brent, which refers to the additional cost added to oil prices due to geopolitical tensions in the Strait of Hormuz, is structurally smaller than in the 2010s because U.S. supply can absorb shocks that previously had no substitute. The Brent price is lower in real and nominal terms than in the 2008, 2018, or 2022 peaks.
-
Second, the strength of American energy, including economics, export infrastructure, and LNG capacity, has become a key global geopolitical variable, influencing global energy prices and the strategic decisions of other nations.
-
Third, Iran’s economy has not only suffered damage; it has also been demolished, and its extremely weak fiscal position indicates that it cannot sustain the threat posture in Hormuz.
The Strait of Hormuz remains the world’s most important chokepoint. However, a chokepoint hurts whoever depends on it most, and Iran relies on it completely. The United States does not.
The geopolitical advantage that Tehran once held has now become its greatest weakness, likely leading to the disappearance of the regime’s effective bargaining power.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 06:30
https://www.zerohedge.com/geopolitical/leverage-liability-hormuz-strait-now-irans-biggest-weakness
From Leverage To Liability: The Hormuz Strait Is Now Iran's Biggest Weakness
https://www.dlacalle.com/en/from-leverage-to-liability-the-hormuz-strait-is-now-irans-biggest-weakness
For half a century, the Strait of Hormuz was Iran’s weapon. Today, it is its noose.
The mathematics of energy have flipped, and with them the balance of coercive power in the Persian Gulf.
Iran’s implicit deterrent was geographic, spanning from the tanker wars of the 1980s to the sanctions standoffs of the 2010s. Almost 20% of global seaborne oil, and a similar share of liquefied natural gas, passes through the Strait. The formula was simple: any military confrontation that threatened the Tehran regime risked a closure that would halt trade supplies, spike crude prices, bleed Western consumers, and, above all, inflict pain on the United States, who was the world’s largest oil importer.
The strait served as Tehran’s insurance policy and its most powerful bargaining tool. The threat was predicated on the regime’s belief that it could block everyone except its exports. The Iranian regime revealed its biggest weakness by constantly threatening to damage the global economy through a shutdown of the Strait. In reality, a total shutdown has the most severe impact on Iran.
Almost 90 per cent of Iran’s crude exports, and about 80 per cent of its total exports, depend on the transit through Hormuz. Around 25 per cent of Iranian GDP and 60 per cent of government revenues depend completely on having the Strait open.
Before the war, Iran was exporting roughly 1.7 million barrels per day, receiving around $160 million in daily revenue from exports via the Strait. Thus, Trump’s full closure of the Strait costs Tehran hundreds of millions of dollars a day in losses, not accounting for the additional fiscal and currency consequences in a country already facing an economic disaster with 40–50% inflation. The complete dependence on the Strait of Hormuz also adds to another weakness: 95% of Iranian crude at sea is sold to a single buyer, China. Tehran is not selling into a diversified and open market. Its exports are sold to a monopsony that demands large discounts, between 10 and 11 dollars per barrel.
These weaknesses were visible long before the war. Capital flight reached $15 billion in the first half of 2025 alone; the rial collapsed against the dollar, and the government’s budget, which allocates 51 per cent of oil revenues to the Islamic Revolutionary Guard Corps, became even more dependent on a single export route it could not afford to close. When the war began, Iranian crude shipments collapsed by 94%. Then, the United States’ decision to block all Iran export vessels showed that Iran’s chokepoint had become self-choking.
In the past 30 days, 80% of the essential volumes that moved through the Strait have been rerouted or offset by other oil producers, including US record exports.
The world is very different from what the Iran regime thought. In 2025, U.S. crude oil production hit a new annual record of 13.6 million barrels per day, making the United States the world’s largest producer but also the biggest exporter. The United States shipped 5.2 million barrels per day of crude and 7.2 million barrels per day of petroleum products in March 2026, both global records. For the first time, America exported more petroleum than it imported, by a net margin of almost 2.8 million barrels per day, according to the EIA. Total US liquids production now exceeds that of Saudi Arabia and Russia combined. On the natural gas side, U.S. LNG exports reached well over 15 billion cubic feet per day, surpassing Qatar and Australia to make the United States the world’s largest liquefied natural gas exporter, while U.S. dry gas production exceeds the combined output of Russia, Iran, and China. Furthermore, the United States is also the world’s largest producer of nuclear electricity, at roughly 30 per cent of global generation, and a global leader in renewable energy.
When President Trump could say in April 2026 that the United States was “clearing the Strait as a favour to countries around the world, including China, Japan, Korea, and Germany,” the framing was an accurate description of who needs Hormuz open and who does not. Only 4% of the traffic through the Strait goes to the United States, according to SP Global.
According to the International Energy Agency, throughput at Hormuz collapsed from its long-run average of about 20 million barrels per day to 3.8 million since the beginning of the war through the second week of April. Daily ship transits fell roughly 95 per cent. The Tehran regime, in a gesture more theatrical than realistic, attempted to levy a $2 million toll on each vessel crossing the strait, without understanding that the move showed desperation instead of leverage.
The US response has been the most important measure deployed against Iran in two decades of standoffs. Operation Economic Fury established a full naval blockade of Iranian ports. Iranian naval losses in the first 38 days of combat exceeded 150 vessels. The ceasefire framework under negotiation requires Iran to reopen Hormuz, but the US maintains control. Thus, negotiations revolve around Iranian dismantlement, not American concessions.
The lesson is not just that Iran miscalculated but that it massively underestimated its obvious weaknesses. The United States is not a hostage of the Gulf; it is the guarantee of its safe sea lanes. Europe is tied to U.S. LNG while keeping a substantial Russian dependence, which complicates its energy security and makes it vulnerable to fluctuations in supply and price from both sources. Asia’s largest economies, particularly China, are suffering the marginal cost of a Hormuz disruption, which has led to increased energy prices and supply chain uncertainties that further exacerbate their economic challenges. Iran’s economic nightmare has only started.
Three important factors must be considered.
-
First, the traditional Hormuz risk premium in Brent, which refers to the additional cost added to oil prices due to geopolitical tensions in the Strait of Hormuz, is structurally smaller than in the 2010s because U.S. supply can absorb shocks that previously had no substitute. The Brent price is lower in real and nominal terms than in the 2008, 2018, or 2022 peaks.
-
Second, the strength of American energy, including economics, export infrastructure, and LNG capacity, has become a key global geopolitical variable, influencing global energy prices and the strategic decisions of other nations.
-
Third, Iran’s economy has not only suffered damage; it has also been demolished, and its extremely weak fiscal position indicates that it cannot sustain the threat posture in Hormuz.
The Strait of Hormuz remains the world’s most important chokepoint. However, a chokepoint hurts whoever depends on it most, and Iran relies on it completely. The United States does not.
The geopolitical advantage that Tehran once held has now become its greatest weakness, likely leading to the disappearance of the regime’s effective bargaining power.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 06:30
https://www.zerohedge.com/geopolitical/leverage-liability-hormuz-strait-now-irans-biggest-weakness
These Are The Countries Building The Most Nuclear Power
These Are The Countries Building The Most Nuclear Power
China is set to become the world’s dominant nuclear power producer.
Based on existing and planned projects, its total capacity could reach nearly 186 gigawatts, far surpassing the U.S., which currently leads globally. This shift reflects a broader push to secure reliable, low-carbon energy as electricity demand rises.
This chart, https://www.visualcapitalist.com/expected-nuclear-capacity-by-country/ ranks countries by current and prospective nuclear capacity, using data from https://globalenergymonitor.org/projects/global-nuclear-power-tracker/.
How Nuclear Energy Is Set to Scale by Country
The U.S. currently leads nuclear energy production with a capacity of 102,475 megawatts, exceeding France by more than 35,000 MW.
China ranks third today at 60,898 MW, but that is set to change as new plants come online.
Dive into the data, which includes sites of any capacity as of September 2025, below:
This shift has major geopolitical implications. Countries that expand nuclear capacity can reduce reliance on imported fossil fuels while strengthening energy security and grid stability.
If all planned projects are completed, China will lead with 185,812 MW, followed by the U.S. at 117,910 MW and France at 75,590 MW.
France remains a historic leader in nuclear energy, with around 69% of its electricity generated from the technology.
The UK was home to the world’s first commercial nuclear power plant, which came online in 1956, but later scaled back its use of nuclear. The government is now aiming for a “golden age of nuclear,” though current commitments totaling 15,394 MW would rank the country just 12th globally.
Of the 17 countries with zero installed capacity today, Uganda is set to scale up the most to 18,000 MW, followed by Poland with 15,612 MW and Türkiye with 14,700 MW.
Betting on Nuclear Fusion and Fission
Today’s nuclear expansion is centered on fission, the technology that powers all existing reactors and accounts for about https://www.iea.org/commentaries/investment-in-next-generation-geothermal-is-surging-policies-are-key-to-further-growth. While mature, it is evolving through smaller, modular designs that aim to reduce costs, improve safety, and speed up deployment.
This helps explain why much of the prospective capacity in the chart includes not only large-scale plants, but also a growing wave of smaller reactors backed by governments and private capital.
At the same time, https://www.visualcapitalist.com/sp/what-are-the-benefits-of-fusion-energy/, the process that powers the sun, remains a long-term ambition. Despite rising investment and recent technical progress, it has yet to reach commercial scale.
For now, the global nuclear buildout is firmly rooted in fission, as countries prioritize reliable, low-carbon power that can be deployed within the next decade.
To learn more about nuclear, check out this https://www.visualcapitalist.com/ranked-countries-building-the-most-nuclear-reactors/ ranking the countries building the most reactors.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 05:45
https://www.zerohedge.com/energy/these-are-countries-building-most-nuclear-power
These Are The Countries Building The Most Nuclear Power
China is set to become the world’s dominant nuclear power producer.
Based on existing and planned projects, its total capacity could reach nearly 186 gigawatts, far surpassing the U.S., which currently leads globally. This shift reflects a broader push to secure reliable, low-carbon energy as electricity demand rises.
This chart, https://www.visualcapitalist.com/expected-nuclear-capacity-by-country/ ranks countries by current and prospective nuclear capacity, using data from https://globalenergymonitor.org/projects/global-nuclear-power-tracker/.
How Nuclear Energy Is Set to Scale by Country
The U.S. currently leads nuclear energy production with a capacity of 102,475 megawatts, exceeding France by more than 35,000 MW.
China ranks third today at 60,898 MW, but that is set to change as new plants come online.
Dive into the data, which includes sites of any capacity as of September 2025, below:
This shift has major geopolitical implications. Countries that expand nuclear capacity can reduce reliance on imported fossil fuels while strengthening energy security and grid stability.
If all planned projects are completed, China will lead with 185,812 MW, followed by the U.S. at 117,910 MW and France at 75,590 MW.
France remains a historic leader in nuclear energy, with around 69% of its electricity generated from the technology.
The UK was home to the world’s first commercial nuclear power plant, which came online in 1956, but later scaled back its use of nuclear. The government is now aiming for a “golden age of nuclear,” though current commitments totaling 15,394 MW would rank the country just 12th globally.
Of the 17 countries with zero installed capacity today, Uganda is set to scale up the most to 18,000 MW, followed by Poland with 15,612 MW and Türkiye with 14,700 MW.
Betting on Nuclear Fusion and Fission
Today’s nuclear expansion is centered on fission, the technology that powers all existing reactors and accounts for about https://www.iea.org/commentaries/investment-in-next-generation-geothermal-is-surging-policies-are-key-to-further-growth. While mature, it is evolving through smaller, modular designs that aim to reduce costs, improve safety, and speed up deployment.
This helps explain why much of the prospective capacity in the chart includes not only large-scale plants, but also a growing wave of smaller reactors backed by governments and private capital.
At the same time, https://www.visualcapitalist.com/sp/what-are-the-benefits-of-fusion-energy/, the process that powers the sun, remains a long-term ambition. Despite rising investment and recent technical progress, it has yet to reach commercial scale.
For now, the global nuclear buildout is firmly rooted in fission, as countries prioritize reliable, low-carbon power that can be deployed within the next decade.
To learn more about nuclear, check out this https://www.visualcapitalist.com/ranked-countries-building-the-most-nuclear-reactors/ ranking the countries building the most reactors.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 05:45
https://www.zerohedge.com/energy/these-are-countries-building-most-nuclear-power
Europe Faces Summer Jet Fuel Crisis As Iran War Slashes Supply
Europe Faces Summer Jet Fuel Crisis As Iran War Slashes Supply
https://oilprice.com/Energy/Energy-General/Europe-Faces-Summer-Jet-Fuel-Crisis-as-Iran-War-Slashes-Supply.html
-
Europe faces an imminent jet fuel crisis as the Iran war and Hormuz disruption cut off key Middle Eastern supplies.
-
Long-term refinery closures and rising import dependence have left Europe highly exposed, with limited alternatives and growing competition from Asia.
-
Airlines are already cutting capacity and warning of higher fares, with potential flight cancellations looming as fuel shortages intensify.
Accelerated refinery closures in the past decade and increased dependence on kerosene from the Middle East have exposed Europe’s energy supply vulnerability once again.
For years, European consumers have had to contend with last-minute strikes of ground personnel and cabin crew during peak summer travel. This year, strikes may be viewed as a minor nuisance compared to what’s coming within weeks—a jet fuel supply crisis that could ground flights and hike fares.
The war in Iran has cut most of Europe’s imports of jet fuel, while local output has been falling for nearly two decades due to dozens of refineries closing permanently or being converted to biofuel production.
The war in Iran and the closure of the Strait of Hormuz have severely constrained Europe’s jet fuel supply, while jet fuel prices have spiked to over $200 per barrel. The last imports from the Middle East on tankers that had passed Hormuz before the war began have arrived, and there is only one alternative to source jet fuel—from the United States. These supplies are not only insufficient to replace the loss of Middle Eastern jet fuel. Europe faces increasingly fierce competition from Asia for these cargoes as the crisis first hit Asia with crude supply from the Middle East collapsing, Asian refiners cutting refinery runs, and countries imposing fuel export restrictions to preserve domestic supply.
Back in 2009, nearly 100 refineries were operating in Europe. Of these, 28 refineries – more than 25% of the number of refineries and 16% of refining capacity – have been either shut or transformed since 2009, according tohttps://www.fuelseurope.eu/uploads/files/modules/documents/file/1751960869_lzRc52p3Kar5EeCvMqn0QiyD2AjhAltKEUSmhWIS.pdf from the European Fuel Manufacturers Association.
As refineries were closing, due to declining fuel demand in Europe and emission-reduction policies, the European dependence on imported supply has grown. The hit to supply from the Middle East caught Europe off guard regarding the security of energy supply for the second time in just four years, after natural gas deliveries from Russia crashed in 2022.
This time, the jet fuel crisis could be imminent, analysts and forecasters warn.
Last year, Europe imported about a third of the jet fuel it consumed, with 75% of imports coming from the Middle East, the International Energy Agency (IEA) has said.
Its executive director, Fatih Birol, this week warned that Europe has “maybe six weeks or so” of remaining jet fuel supply.
“If we are not able to open the Strait of Hormuz ... I can tell you soon we will hear the news that some of the flights from city A to city B might be canceled as a result of lack of jet fuel,” Birol told Associated Press in an https://apnews.com/article/iran-war-europe-jet-fuel-flight-cancellations-birol-6e67fafd493861b3858de5548aa77703.
Northwest Europe is one of the regions most exposed to the jet fuel crisis, as imports have dropped from historical norms this month, and the import decline is set to accelerate in the coming weeks as more U.S. jet fuel cargoes would go to Asia instead of Europe, Ernest Censier, market analyst at Vortexa, said in an https://www.vortexa.com/insights/lack-of-alternative-supply-pressures-jet on Thursday.
The 15% drop in European jet fuel imports so far in April “reflects structural dependence on Middle Eastern supply: approximately half of NWE’s jet fuel imports typically transit through the Strait of Hormuz,” Censier said.
In addition, relatively short voyage times of about 21 days from Mina Abdulla in Kuwait to Rotterdam mean that supply disruptions are transmitted quickly into regional imports, the analyst added.
The U.S. has emerged as the key source of substitution for lost Middle Eastern supply, but this is unlikely to be sustained as U.S. jet/kerosene exports are increasingly being redirected toward the Pacific Basin, reaching a seven-year high this month, and now accounting for over 30% of total U.S. jet fuel exports.
“This reallocation reflects a broader shift in US product exports toward the Pacific Basin,” Vortexa’s Censier noted.
This leaves Europe highly exposed to the turbulence in the jet fuel markets.
Lufthansa, Europe’s biggest airline, on Thursday https://newsroom.lufthansagroup.com/en/lufthansa-group-accelerates-strategy-implementation/ it is accelerating plans to reduce its flight program and retire some aircraft earlier.
“In view of significantly increased kerosene prices, which have more than doubled compared to the period before the Iran war, as well as rising additional burdens from labor disputes.”
“The package for accelerated implementation of fleet and capacity measures is unavoidable in light of the sharply increased kerosene costs and geopolitical instability,” said Till Streichert, Chief Financial Officer of Lufthansa Group.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 05:00
https://www.zerohedge.com/energy/europe-faces-summer-jet-fuel-crisis-iran-war-slashes-supply
Europe Faces Summer Jet Fuel Crisis As Iran War Slashes Supply
https://oilprice.com/Energy/Energy-General/Europe-Faces-Summer-Jet-Fuel-Crisis-as-Iran-War-Slashes-Supply.html
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Europe faces an imminent jet fuel crisis as the Iran war and Hormuz disruption cut off key Middle Eastern supplies.
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Long-term refinery closures and rising import dependence have left Europe highly exposed, with limited alternatives and growing competition from Asia.
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Airlines are already cutting capacity and warning of higher fares, with potential flight cancellations looming as fuel shortages intensify.
Accelerated refinery closures in the past decade and increased dependence on kerosene from the Middle East have exposed Europe’s energy supply vulnerability once again.
For years, European consumers have had to contend with last-minute strikes of ground personnel and cabin crew during peak summer travel. This year, strikes may be viewed as a minor nuisance compared to what’s coming within weeks—a jet fuel supply crisis that could ground flights and hike fares.
The war in Iran has cut most of Europe’s imports of jet fuel, while local output has been falling for nearly two decades due to dozens of refineries closing permanently or being converted to biofuel production.
The war in Iran and the closure of the Strait of Hormuz have severely constrained Europe’s jet fuel supply, while jet fuel prices have spiked to over $200 per barrel. The last imports from the Middle East on tankers that had passed Hormuz before the war began have arrived, and there is only one alternative to source jet fuel—from the United States. These supplies are not only insufficient to replace the loss of Middle Eastern jet fuel. Europe faces increasingly fierce competition from Asia for these cargoes as the crisis first hit Asia with crude supply from the Middle East collapsing, Asian refiners cutting refinery runs, and countries imposing fuel export restrictions to preserve domestic supply.
Back in 2009, nearly 100 refineries were operating in Europe. Of these, 28 refineries – more than 25% of the number of refineries and 16% of refining capacity – have been either shut or transformed since 2009, according tohttps://www.fuelseurope.eu/uploads/files/modules/documents/file/1751960869_lzRc52p3Kar5EeCvMqn0QiyD2AjhAltKEUSmhWIS.pdf from the European Fuel Manufacturers Association.
As refineries were closing, due to declining fuel demand in Europe and emission-reduction policies, the European dependence on imported supply has grown. The hit to supply from the Middle East caught Europe off guard regarding the security of energy supply for the second time in just four years, after natural gas deliveries from Russia crashed in 2022.
This time, the jet fuel crisis could be imminent, analysts and forecasters warn.
Last year, Europe imported about a third of the jet fuel it consumed, with 75% of imports coming from the Middle East, the International Energy Agency (IEA) has said.
Its executive director, Fatih Birol, this week warned that Europe has “maybe six weeks or so” of remaining jet fuel supply.
“If we are not able to open the Strait of Hormuz ... I can tell you soon we will hear the news that some of the flights from city A to city B might be canceled as a result of lack of jet fuel,” Birol told Associated Press in an https://apnews.com/article/iran-war-europe-jet-fuel-flight-cancellations-birol-6e67fafd493861b3858de5548aa77703.
Northwest Europe is one of the regions most exposed to the jet fuel crisis, as imports have dropped from historical norms this month, and the import decline is set to accelerate in the coming weeks as more U.S. jet fuel cargoes would go to Asia instead of Europe, Ernest Censier, market analyst at Vortexa, said in an https://www.vortexa.com/insights/lack-of-alternative-supply-pressures-jet on Thursday.
The 15% drop in European jet fuel imports so far in April “reflects structural dependence on Middle Eastern supply: approximately half of NWE’s jet fuel imports typically transit through the Strait of Hormuz,” Censier said.
In addition, relatively short voyage times of about 21 days from Mina Abdulla in Kuwait to Rotterdam mean that supply disruptions are transmitted quickly into regional imports, the analyst added.
The U.S. has emerged as the key source of substitution for lost Middle Eastern supply, but this is unlikely to be sustained as U.S. jet/kerosene exports are increasingly being redirected toward the Pacific Basin, reaching a seven-year high this month, and now accounting for over 30% of total U.S. jet fuel exports.
“This reallocation reflects a broader shift in US product exports toward the Pacific Basin,” Vortexa’s Censier noted.
This leaves Europe highly exposed to the turbulence in the jet fuel markets.
Lufthansa, Europe’s biggest airline, on Thursday https://newsroom.lufthansagroup.com/en/lufthansa-group-accelerates-strategy-implementation/ it is accelerating plans to reduce its flight program and retire some aircraft earlier.
“In view of significantly increased kerosene prices, which have more than doubled compared to the period before the Iran war, as well as rising additional burdens from labor disputes.”
“The package for accelerated implementation of fleet and capacity measures is unavoidable in light of the sharply increased kerosene costs and geopolitical instability,” said Till Streichert, Chief Financial Officer of Lufthansa Group.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 05:00
https://www.zerohedge.com/energy/europe-faces-summer-jet-fuel-crisis-iran-war-slashes-supply
Europeans Pay The Most For Public Transport
Europeans Pay The Most For Public Transport
Creating and maintaining reliable, efficient and affordable https://www.statista.com/topics/2994/public-transportation/#topicHeader__wrapper is crucial for developing a more sustainable mobility sector worldwide, though challenges vary by region.
In Europe, gaps are most evident in rural areas, where low population density limits service frequency.
In North America, many cities also suffer from fragmented public transport systems, making car dependency widespread in both rural and urban areas.
In Latin America and South Asia, semi-formal systems such as minibuses are an important and affordable part of transport networks, but often lack reliability and efficiency.
https://www.statista.com/chart/27654/countries-with-the-highest-estimated-average-monthly-revenue-per-public-transport-user/, according to https://www.statista.com/outlook/mmo/shared-mobility/public-transportation/custom/?currency=USD&token=dwqDOX04Z2ngXEET4moCMeDj_KgvKLCFoGTUQJbXkV5t5dtGa6sXoWKBDU4cW3v8MZRWDgpnGpsqtN7MasIctNA9SOyUsc3asiH1oA3M5UPVmrpT1FWFiN3v#key-market-indicators, even regions with strong public transport coverage face affordability challenges.
https://www.statista.com/chart/27654/countries-with-the-highest-estimated-average-monthly-revenue-per-public-transport-user/
You will find more infographics at https://www.statista.com/chartoftheday/
In Switzerland, for example, average monthly revenue per user was estimated at around $535 in 2025, with other high figures seen in Nordic countries such as Denmark ($491) and Norway ($443).
However, this metric reflects operator revenue rather than typical ticket prices and should be interpreted cautiously.
At the lower end, countries such as Burundi, Malawi and Madagascar show monthly revenues per user below $3, while Bangladesh and India range between $6 and $8.
Overall, the global public transportation sector generated an estimated $294 billion in 2025, an increase of roughly 40 percent from the pandemic-induced slump in 2021.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 04:15
https://www.zerohedge.com/personal-finance/europeans-pay-most-public-transport
Europeans Pay The Most For Public Transport
Creating and maintaining reliable, efficient and affordable https://www.statista.com/topics/2994/public-transportation/#topicHeader__wrapper is crucial for developing a more sustainable mobility sector worldwide, though challenges vary by region.
In Europe, gaps are most evident in rural areas, where low population density limits service frequency.
In North America, many cities also suffer from fragmented public transport systems, making car dependency widespread in both rural and urban areas.
In Latin America and South Asia, semi-formal systems such as minibuses are an important and affordable part of transport networks, but often lack reliability and efficiency.
https://www.statista.com/chart/27654/countries-with-the-highest-estimated-average-monthly-revenue-per-public-transport-user/, according to https://www.statista.com/outlook/mmo/shared-mobility/public-transportation/custom/?currency=USD&token=dwqDOX04Z2ngXEET4moCMeDj_KgvKLCFoGTUQJbXkV5t5dtGa6sXoWKBDU4cW3v8MZRWDgpnGpsqtN7MasIctNA9SOyUsc3asiH1oA3M5UPVmrpT1FWFiN3v#key-market-indicators, even regions with strong public transport coverage face affordability challenges.
https://www.statista.com/chart/27654/countries-with-the-highest-estimated-average-monthly-revenue-per-public-transport-user/
You will find more infographics at https://www.statista.com/chartoftheday/
In Switzerland, for example, average monthly revenue per user was estimated at around $535 in 2025, with other high figures seen in Nordic countries such as Denmark ($491) and Norway ($443).
However, this metric reflects operator revenue rather than typical ticket prices and should be interpreted cautiously.
At the lower end, countries such as Burundi, Malawi and Madagascar show monthly revenues per user below $3, while Bangladesh and India range between $6 and $8.
Overall, the global public transportation sector generated an estimated $294 billion in 2025, an increase of roughly 40 percent from the pandemic-induced slump in 2021.
https://cms.zerohedge.com/users/tyler-durden
Mon, 04/20/2026 - 04:15
https://www.zerohedge.com/personal-finance/europeans-pay-most-public-transport
Spanberger Signs Unconstitutional Bill To Strip Confederacy-Linked Groups Of Tax Exempt Status
Spanberger Signs Unconstitutional Bill To Strip Confederacy-Linked Groups Of Tax Exempt Status
https://jonathanturley.org/2026/04/18/spanberger-signs-unconstitutional-bill-to-strip-confederacy-linked-groups-of-tax-exempt-status/
There has been growing criticism (and falling poll numbers) of Virginia Governor Abigail Spanberger after she ran as a moderate and then immediately veered to the far left after her election. Once in power, Spanberger and the Democrats unleashed a slew of tax increases, https://jonathanturley.org/2026/04/16/virginia-is-for-democrats-spanberger-pushes-gerrymandered-map-to-wipe-out-republican-districts/, passed an array of anti-gun laws, and enacted other controversial measures. One of these measures is a clearly unconstitutional effort to strip pro-Confederate groups of their tax exemption.
This week, Spanberger signed https://lis.virginia.gov/bill-details/20261/HB167, the law that eliminated the tax exemption for various confederacy-linked groups, including the Virginia Division of the United Daughters of the Confederacy, the General Organization of the United Daughters of the Confederacy, the Confederate Memorial Literary Society, the Stonewall Jackson Memorial, Incorporated, the Virginia Division, Sons of Confederate Veterans, and the J.E.B. Stuart Birthplace Preservation Trust, Inc.
Notably, as soon as they came into power, Democrats also passed House Bill 1377 to move against the Virginia Military Institute, including appointing a task force that could effectively close the historic school. Many Democrats have previoulsy sought to close VMI despite its unique and inspiring history in training some of our most famous military leaders, including General George Marshall. Liberals want to close the school due to its history from the Civil War.
Spanberger https://www.thenews-gazette.com/article/13874,vmi-review-takes-another-turn for the effort but returned the bill with suggestions to use the board of directors to carry out the review.
Spanberger’s substitute eliminates that task force entirely and instead directs VMI’s own board of visitors to carry out the review.
The board would be empowered to carry out a fairly hostile and open-ended agenda, including to “distance [VMI] from the Lost Cause narrative, foster an inclusive environment, and address any other concerns.” Spanberger has appointed 27 new board members, including former Gov. Ralph Northam, who is viewed as hostile to VMI.
https://archive.is/W3s8R#selection-4499.96-4499.141 that the Democrats wanted to “distance Virginia from its Confederate past.” However, they also want to use a content-based law to discriminate against groups with which they disagree. The law clearly violates the First Amendment, but neither Spanberger nor the Virginia Democrats appear to care.
In Reed v. Town of Gilbert, 576 U.S. 155 (2015), the Court struck down a signage regulation because”restrictions … that apply to any given sign [depend] entirely on the communicative content of the sign.” Likewise, Simon & Schuster, Inc. v. Members of the N.Y. State Crime Victims Bd., 502 U.S. 105, 116 (1991), the Court stressed that the government’s ability to impose content-based burdens on speech raises the specter that the government may effectively drive certain ideas or viewpoints from the marketplace.
From taxes to trademarks, content-based discrimination runs afoul of our free speech values. In Matal v. Tam, 582 U.S. 218 (2017), the Court cited Justice Oliver Wendell Holmes decision in United States v. Schwimmer, 279 U. S. 644, 655 (1929), that “the proudest boast of our free speech jurisprudence is that we protect the freedom to express ‘the thought that we hate.'”
Over 30 years ago, I https://books.google.com/books?id=lxuHJRdio0cC&pg=PA61&lpg=PA61&dq=It+is+equally+disingenuous+to+suggest+that+denial+of+such+things+as+tax+exemption+does+not+constitute+a+content-based+punishment+for+religious+views&source=bl&ots=RuTIhSV_I0&sig=2WHTmHLtXVf-7hAassWMA8LwOfE&hl=en&sa=X&ei=BfZAVdy9OIXEggSYkIHYCQ&ved=0CCUQ6AEwAQ#v=onepage&q=It%20is%20equally%20disingenuous%20to%20suggest%20that%20denial%20of%20such%20things%20as%20tax%20exemption%20does%20not%20constitute%20a%20content-based%20punishment%20for%20religious%20views&f=false. I have been critical of the use of the tax code to effectively punish organizations that do not comport with the IRS’s view of good public policy.
That prior work was critical of the 1982 decision involving Bob Jones University, in which the Supreme Court upheld the denial of tax-exempt status. In the case of Bob Jones, the university was engaged in reprehensible racial discrimination. However, I wrote how the actual standard is far more vague and could potentially be used more broadly.
Virginia is an example of precisely that problem in the use of tax exemptions to engage in viewpoint discrimination.
I have opposed such moves with a variety of organizations with which I have long-standing objections. That includes the Administration’s https://jonathanturley.org/2025/04/17/no-harvard-should-not-lose-its-tax-exempt-status/revoke Harvard University’s tax-exempt status.
Tax exemption should not be a status bestowed upon those adhering to the demands of whatever party is in power. Free speech and associational rights are fostered by granting this status.
Virginia will now spend additional money to defend this unconstitutional action and fight for the right to discriminate against those who have opposing views in the state.
Jonathan Turley is a law professor and the best-selling author of “https://urldefense.com/v3/__https:/r.nypostlink.com/?btn_ref=org-19984c113c692001&btn_url=https*3A*2F*2Fwww.amazon.com*2FRage-Republic-Unfinished-American-Revolution*2Fdp*2F1668205025*3Ftag*3Dnypost-20*26asc_refurl*3Dhttps*3A*2F*2Fnypost.com*2F2026*2F01*2F07*2Fopinion*2Fthe-peril-of-mamdani-and-weavers-communist-college-kids-nyc-field-trip*2F*26asc_source*3Dweb__;JSUlJSUlJSUlJSUlJSUlJSUlJSUl!!F0Stn7g!GgOH9LyTf-X_R9txXfQYbq0EWNuB17YLrNx7yBMsSNS4fAaw5hvJ6VFmT8A4XXLkT12PFuoWaCREZuvlMCY%24.”
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 22:10
https://www.zerohedge.com/political/spanberger-signs-unconstitutional-bill-strip-confederacy-linked-groups-tax-exempt-status
Spanberger Signs Unconstitutional Bill To Strip Confederacy-Linked Groups Of Tax Exempt Status
https://jonathanturley.org/2026/04/18/spanberger-signs-unconstitutional-bill-to-strip-confederacy-linked-groups-of-tax-exempt-status/
There has been growing criticism (and falling poll numbers) of Virginia Governor Abigail Spanberger after she ran as a moderate and then immediately veered to the far left after her election. Once in power, Spanberger and the Democrats unleashed a slew of tax increases, https://jonathanturley.org/2026/04/16/virginia-is-for-democrats-spanberger-pushes-gerrymandered-map-to-wipe-out-republican-districts/, passed an array of anti-gun laws, and enacted other controversial measures. One of these measures is a clearly unconstitutional effort to strip pro-Confederate groups of their tax exemption.
This week, Spanberger signed https://lis.virginia.gov/bill-details/20261/HB167, the law that eliminated the tax exemption for various confederacy-linked groups, including the Virginia Division of the United Daughters of the Confederacy, the General Organization of the United Daughters of the Confederacy, the Confederate Memorial Literary Society, the Stonewall Jackson Memorial, Incorporated, the Virginia Division, Sons of Confederate Veterans, and the J.E.B. Stuart Birthplace Preservation Trust, Inc.
Notably, as soon as they came into power, Democrats also passed House Bill 1377 to move against the Virginia Military Institute, including appointing a task force that could effectively close the historic school. Many Democrats have previoulsy sought to close VMI despite its unique and inspiring history in training some of our most famous military leaders, including General George Marshall. Liberals want to close the school due to its history from the Civil War.
Spanberger https://www.thenews-gazette.com/article/13874,vmi-review-takes-another-turn for the effort but returned the bill with suggestions to use the board of directors to carry out the review.
Spanberger’s substitute eliminates that task force entirely and instead directs VMI’s own board of visitors to carry out the review.
The board would be empowered to carry out a fairly hostile and open-ended agenda, including to “distance [VMI] from the Lost Cause narrative, foster an inclusive environment, and address any other concerns.” Spanberger has appointed 27 new board members, including former Gov. Ralph Northam, who is viewed as hostile to VMI.
https://archive.is/W3s8R#selection-4499.96-4499.141 that the Democrats wanted to “distance Virginia from its Confederate past.” However, they also want to use a content-based law to discriminate against groups with which they disagree. The law clearly violates the First Amendment, but neither Spanberger nor the Virginia Democrats appear to care.
In Reed v. Town of Gilbert, 576 U.S. 155 (2015), the Court struck down a signage regulation because”restrictions … that apply to any given sign [depend] entirely on the communicative content of the sign.” Likewise, Simon & Schuster, Inc. v. Members of the N.Y. State Crime Victims Bd., 502 U.S. 105, 116 (1991), the Court stressed that the government’s ability to impose content-based burdens on speech raises the specter that the government may effectively drive certain ideas or viewpoints from the marketplace.
From taxes to trademarks, content-based discrimination runs afoul of our free speech values. In Matal v. Tam, 582 U.S. 218 (2017), the Court cited Justice Oliver Wendell Holmes decision in United States v. Schwimmer, 279 U. S. 644, 655 (1929), that “the proudest boast of our free speech jurisprudence is that we protect the freedom to express ‘the thought that we hate.'”
Over 30 years ago, I https://books.google.com/books?id=lxuHJRdio0cC&pg=PA61&lpg=PA61&dq=It+is+equally+disingenuous+to+suggest+that+denial+of+such+things+as+tax+exemption+does+not+constitute+a+content-based+punishment+for+religious+views&source=bl&ots=RuTIhSV_I0&sig=2WHTmHLtXVf-7hAassWMA8LwOfE&hl=en&sa=X&ei=BfZAVdy9OIXEggSYkIHYCQ&ved=0CCUQ6AEwAQ#v=onepage&q=It%20is%20equally%20disingenuous%20to%20suggest%20that%20denial%20of%20such%20things%20as%20tax%20exemption%20does%20not%20constitute%20a%20content-based%20punishment%20for%20religious%20views&f=false. I have been critical of the use of the tax code to effectively punish organizations that do not comport with the IRS’s view of good public policy.
That prior work was critical of the 1982 decision involving Bob Jones University, in which the Supreme Court upheld the denial of tax-exempt status. In the case of Bob Jones, the university was engaged in reprehensible racial discrimination. However, I wrote how the actual standard is far more vague and could potentially be used more broadly.
Virginia is an example of precisely that problem in the use of tax exemptions to engage in viewpoint discrimination.
I have opposed such moves with a variety of organizations with which I have long-standing objections. That includes the Administration’s https://jonathanturley.org/2025/04/17/no-harvard-should-not-lose-its-tax-exempt-status/revoke Harvard University’s tax-exempt status.
Tax exemption should not be a status bestowed upon those adhering to the demands of whatever party is in power. Free speech and associational rights are fostered by granting this status.
Virginia will now spend additional money to defend this unconstitutional action and fight for the right to discriminate against those who have opposing views in the state.
Jonathan Turley is a law professor and the best-selling author of “https://urldefense.com/v3/__https:/r.nypostlink.com/?btn_ref=org-19984c113c692001&btn_url=https*3A*2F*2Fwww.amazon.com*2FRage-Republic-Unfinished-American-Revolution*2Fdp*2F1668205025*3Ftag*3Dnypost-20*26asc_refurl*3Dhttps*3A*2F*2Fnypost.com*2F2026*2F01*2F07*2Fopinion*2Fthe-peril-of-mamdani-and-weavers-communist-college-kids-nyc-field-trip*2F*26asc_source*3Dweb__;JSUlJSUlJSUlJSUlJSUlJSUlJSUl!!F0Stn7g!GgOH9LyTf-X_R9txXfQYbq0EWNuB17YLrNx7yBMsSNS4fAaw5hvJ6VFmT8A4XXLkT12PFuoWaCREZuvlMCY%24.”
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 22:10
https://www.zerohedge.com/political/spanberger-signs-unconstitutional-bill-strip-confederacy-linked-groups-tax-exempt-status
1
Trump Says First Releases Of UFO Documents Will Begin 'Very, Very Soon'
Trump Says First Releases Of UFO Documents Will Begin 'Very, Very Soon'
https://www.theepochtimes.com/us/trump-says-first-releases-of-ufo-documents-will-begin-very-very-soon-6013754 (emphasis ours),
President Donald Trump announced April 17 that he expects his administration to begin releasing documents “very soon” related to extraterrestrial life and unexplained phenomena.
“As you remember, I recently directed the Secretary of War … to begin releasing government files relating to UFOs and unexplained aerial phenomena,” Trump told an audience in Phoenix, Arizona. “I’m pleased to report today … that this process is well underway and we’ve found many very interesting documents, I must say. And, the first releases will begin very, very soon.”
Trump made the remarks at an event with Turning Point Action, an affiliate of Turning Point USA.
The president ordered government agencies to release information about UFOs and related phenomena in a Feb. 19 Truth Social post. Tremendous interest in the files prompted Trump to issue the directive to release files related to alien and extraterrestrial life, he said.
The U.S. government holds thousands of documents related to historical reports about the subjects of unidentified flying objects and alien phenomenon, including more than 12,600 reports from Project Blue Book, which took place from 1947 to 1969. The public can already access some of the public https://www.archives.gov/research/topics/uaps, photos, and sounds at the National Archives.
The buzz over revealing more evidence comes days after https://www.theepochtimes.com/science/artemis-ii-crew-reflect-on-mission-look-ahead-to-artemis-iii-6013128 made its historic voyage around the moon, stirring the public’s interest in space discovery.
Trump’s announcement, however, fell flat with UFO investigator Donald Schmitt, who said he had “very little hope” the documents would prove anything more than what has already been released to the public.
“They’re just documents,” Schmitt told The Epoch Times. “They don’t prove anything. We need to stop dancing around the idea that we want to see the files or documents. … I want to hold a piece of the hardware. I want to see a tissue sample. Take me to where you’re preserving the bodies after all these years.”
“That’s what this should come down to,” Schmitt said. “Otherwise this is just song and dance.”
https://www.roswellufomuseum.com/don-schmitt, a seven-time best-selling author whose first book was made into the made-for-TV movie “Roswell,” serves as lead investigator for the International UFO Museum in Roswell, New Mexico. He has spent decades researching the alleged crash of a UFO about 75 miles north of the rural southeastern town in 1947.
At the peak of the independent investigations into the Roswell incident, Schmitt said they had 150 eyewitnesses for government officials to interview, but no one was interested in talking with them, he said.
“We have 30 deathbed confessions. They’re not interested,” Schmitt said about the government investigators.
He said he hoped he was wrong about the upcoming release of information, but it seemed to be generating a lot of confusion.
“I’m always cautious of people who speak as though they have any answers or they refer to themselves as experts, especially on this topic,” he added. “I can’t emphasize enough, there is no such thing as an expert on UFOs.
“The mystery continues.”
Secretary of War Pete Hegseth told reporters Feb. 23 he was already working on getting the documents in order.
“We’ve got our people working on it right now,” Hegseth said. “We’re digging in. We’re going to be in full compliance to be able to provide that for the president.”
Hegseth didn’t have a time frame for when he would be able to provide the documents. He didn’t say whether he believed aliens existed, but Vice President JD Vance weighed in on his thoughts about the unknown beings in an https://x.com/bennyjohnson/status/2037611400223179189?s=42 with conservative political commentator Benny Johnson on March 27.
“When I came in, I was obsessed with the UFO files,” Vance said. “I have not been able to spend enough time on this to fully understand it. I’m going to get to the bottom of it.”
Vance elaborated on his beliefs about extraterrestrial beings.
“I don’t think they’re aliens,” Vance said. “I think they’re demons anyway, but that’s a long discussion.”
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 17:30
https://www.zerohedge.com/political/trump-says-first-releases-ufo-documents-will-begin-very-very-soon
Trump Says First Releases Of UFO Documents Will Begin 'Very, Very Soon'
https://www.theepochtimes.com/us/trump-says-first-releases-of-ufo-documents-will-begin-very-very-soon-6013754 (emphasis ours),
President Donald Trump announced April 17 that he expects his administration to begin releasing documents “very soon” related to extraterrestrial life and unexplained phenomena.
“As you remember, I recently directed the Secretary of War … to begin releasing government files relating to UFOs and unexplained aerial phenomena,” Trump told an audience in Phoenix, Arizona. “I’m pleased to report today … that this process is well underway and we’ve found many very interesting documents, I must say. And, the first releases will begin very, very soon.”
Trump made the remarks at an event with Turning Point Action, an affiliate of Turning Point USA.
The president ordered government agencies to release information about UFOs and related phenomena in a Feb. 19 Truth Social post. Tremendous interest in the files prompted Trump to issue the directive to release files related to alien and extraterrestrial life, he said.
The U.S. government holds thousands of documents related to historical reports about the subjects of unidentified flying objects and alien phenomenon, including more than 12,600 reports from Project Blue Book, which took place from 1947 to 1969. The public can already access some of the public https://www.archives.gov/research/topics/uaps, photos, and sounds at the National Archives.
The buzz over revealing more evidence comes days after https://www.theepochtimes.com/science/artemis-ii-crew-reflect-on-mission-look-ahead-to-artemis-iii-6013128 made its historic voyage around the moon, stirring the public’s interest in space discovery.
Trump’s announcement, however, fell flat with UFO investigator Donald Schmitt, who said he had “very little hope” the documents would prove anything more than what has already been released to the public.
“They’re just documents,” Schmitt told The Epoch Times. “They don’t prove anything. We need to stop dancing around the idea that we want to see the files or documents. … I want to hold a piece of the hardware. I want to see a tissue sample. Take me to where you’re preserving the bodies after all these years.”
“That’s what this should come down to,” Schmitt said. “Otherwise this is just song and dance.”
https://www.roswellufomuseum.com/don-schmitt, a seven-time best-selling author whose first book was made into the made-for-TV movie “Roswell,” serves as lead investigator for the International UFO Museum in Roswell, New Mexico. He has spent decades researching the alleged crash of a UFO about 75 miles north of the rural southeastern town in 1947.
At the peak of the independent investigations into the Roswell incident, Schmitt said they had 150 eyewitnesses for government officials to interview, but no one was interested in talking with them, he said.
“We have 30 deathbed confessions. They’re not interested,” Schmitt said about the government investigators.
He said he hoped he was wrong about the upcoming release of information, but it seemed to be generating a lot of confusion.
“I’m always cautious of people who speak as though they have any answers or they refer to themselves as experts, especially on this topic,” he added. “I can’t emphasize enough, there is no such thing as an expert on UFOs.
“The mystery continues.”
Secretary of War Pete Hegseth told reporters Feb. 23 he was already working on getting the documents in order.
“We’ve got our people working on it right now,” Hegseth said. “We’re digging in. We’re going to be in full compliance to be able to provide that for the president.”
Hegseth didn’t have a time frame for when he would be able to provide the documents. He didn’t say whether he believed aliens existed, but Vice President JD Vance weighed in on his thoughts about the unknown beings in an https://x.com/bennyjohnson/status/2037611400223179189?s=42 with conservative political commentator Benny Johnson on March 27.
“When I came in, I was obsessed with the UFO files,” Vance said. “I have not been able to spend enough time on this to fully understand it. I’m going to get to the bottom of it.”
Vance elaborated on his beliefs about extraterrestrial beings.
“I don’t think they’re aliens,” Vance said. “I think they’re demons anyway, but that’s a long discussion.”
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 17:30
https://www.zerohedge.com/political/trump-says-first-releases-ufo-documents-will-begin-very-very-soon
American Airlines Shuts Down United Merger Talk As Wells Fargo Signals Another Possible Tie-Up
American Airlines Shuts Down United Merger Talk As Wells Fargo Signals Another Possible Tie-Up
Certainly this past week saw several key stories in the aviation world.
First came the story that Spirit Airlines could be liquidated at any moment, only to be followed later in the week by reports that the budget carrier had asked the Trump administration for an https://www.zerohedge.com/markets/looking-lifeline-spirit-airlines-asks-trump-admin-emergency-bailout.
Then, of course, came the reopening of the https://www.zerohedge.com/geopolitical/three-page-plan-end-war-oil-tumbles-us-reportedly-mulls-20bn-cash-nukes-deal late in the week, which sent jet fuel prices in New York sharply lower and airline stocks soaring...
It now appears that American Airlines has rejected United Airlines CEO Scott Kirby's https://www.zerohedge.com/markets/united-ceo-pitches-trump-american-tie-build-highly-competitive-global-carrier. Kirby recently pitched President Trump on the tie-up.
American told https://www.nytimes.com/2026/04/17/business/american-airlines-united-merger.html in a statement that it was "not engaged with or interested" in the merger idea pitched by CEO Kirby.
"While changes in the broader airline marketplace may be necessary, a combination with United would be negative for competition and for consumers, and therefore inconsistent with our understanding of the administration's philosophy toward the industry and principles of antitrust law," American said, adding, "Our focus will remain on executing on our strategic objectives and positioning American to win for the long term."
White House Press Secretary Karoline Leavitt told reporters earlier this week that the merger was "not something the president or the White House has an opinion on or is weighing in on at this time."
Wells Fargo analyst Christian Wetherbee told clients that the American-United merger was unlikely, but on his radar was "an opportunity for United and Delta."
"This idea furthers our belief that the fuel shock presents an opportunity for United and Delta to emerge better positioned, potentially suggesting upside to out-year estimates," Wetherbee said.
He noted a potential merger between United and American could be too large, as the combined carrier would control around 40% of domestic capacity without divestitures.
As an alternative, Wetherbee suggested JetBlue could emerge as a smaller, more realistic target if American rejected United, giving United valuable assets in New York and Florida with less regulatory fallout.
Some analysts have already described the airline industry as highly consolidated and a classic oligopoly.
On our radar next week: Spirit's meeting with Transportation Secretary Sean Duffy, along with the carrier's uncertain fate as creditors could pull the plug at any moment. Attention will also shift to United and whether, after being rejected by American, it makes a move toward Delta. Meanwhile, jet fuel prices in New York are plunging, a welcome development for airlines after four weeks of soaring prices that led some carriers to hike bag fees and ticket prices to offset fuel costs.
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 13:25
https://www.zerohedge.com/markets/american-airlines-shuts-down-united-merger-talk-wells-fargo-signals-another-possible-tie
American Airlines Shuts Down United Merger Talk As Wells Fargo Signals Another Possible Tie-Up
Certainly this past week saw several key stories in the aviation world.
First came the story that Spirit Airlines could be liquidated at any moment, only to be followed later in the week by reports that the budget carrier had asked the Trump administration for an https://www.zerohedge.com/markets/looking-lifeline-spirit-airlines-asks-trump-admin-emergency-bailout.
Then, of course, came the reopening of the https://www.zerohedge.com/geopolitical/three-page-plan-end-war-oil-tumbles-us-reportedly-mulls-20bn-cash-nukes-deal late in the week, which sent jet fuel prices in New York sharply lower and airline stocks soaring...
It now appears that American Airlines has rejected United Airlines CEO Scott Kirby's https://www.zerohedge.com/markets/united-ceo-pitches-trump-american-tie-build-highly-competitive-global-carrier. Kirby recently pitched President Trump on the tie-up.
American told https://www.nytimes.com/2026/04/17/business/american-airlines-united-merger.html in a statement that it was "not engaged with or interested" in the merger idea pitched by CEO Kirby.
"While changes in the broader airline marketplace may be necessary, a combination with United would be negative for competition and for consumers, and therefore inconsistent with our understanding of the administration's philosophy toward the industry and principles of antitrust law," American said, adding, "Our focus will remain on executing on our strategic objectives and positioning American to win for the long term."
White House Press Secretary Karoline Leavitt told reporters earlier this week that the merger was "not something the president or the White House has an opinion on or is weighing in on at this time."
Wells Fargo analyst Christian Wetherbee told clients that the American-United merger was unlikely, but on his radar was "an opportunity for United and Delta."
"This idea furthers our belief that the fuel shock presents an opportunity for United and Delta to emerge better positioned, potentially suggesting upside to out-year estimates," Wetherbee said.
He noted a potential merger between United and American could be too large, as the combined carrier would control around 40% of domestic capacity without divestitures.
As an alternative, Wetherbee suggested JetBlue could emerge as a smaller, more realistic target if American rejected United, giving United valuable assets in New York and Florida with less regulatory fallout.
Some analysts have already described the airline industry as highly consolidated and a classic oligopoly.
On our radar next week: Spirit's meeting with Transportation Secretary Sean Duffy, along with the carrier's uncertain fate as creditors could pull the plug at any moment. Attention will also shift to United and whether, after being rejected by American, it makes a move toward Delta. Meanwhile, jet fuel prices in New York are plunging, a welcome development for airlines after four weeks of soaring prices that led some carriers to hike bag fees and ticket prices to offset fuel costs.
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 13:25
https://www.zerohedge.com/markets/american-airlines-shuts-down-united-merger-talk-wells-fargo-signals-another-possible-tie
NY State Loses $73 Million In Federal Highway Funding Over Failed CDL Revocations
NY State Loses $73 Million In Federal Highway Funding Over Failed CDL Revocations
https://amgreatness.com/2026/04/17/ny-state-loses-73-million-in-federal-highway-funding-over-failed-cdl-revocations/
Over $73 million in federal highway funds are being withheld from New York state after an audit found more than half the state’s commercial drivers licenses (CDL) were issued to foreigners illegally.
U.S. Transportation Secretary Sean Duffy https://justthenews.com/nation/states/center-square/new-york-loses-73m-federal-funds-tied-cdl-failures that the state failed to revoke “illegally issued nondomiciled commercial learner’s permits and commercial driver’s licenses.”
According to a https://www.transportation.gov/briefing-room/trumps-transportation-secretary-sean-p-duffy-uncovers-latest-bombshell-over-50-nys from the U.S. Dept. of Transportation, a Federal Motor Carrier Safety Administration’s (FMCSA) https://www.transportation.gov/briefing-room/president-trumps-transportation-secretary-sean-p-duffy-announces-nationwide-audit of non-domiciled commercial driver’s licenses (CDLs) uncovered a shocking 53 percent failure rate in the records sampled, indicating serious problems in New York’s CDL program.
Among the failures documented were New York DMV systems defaulting to issuing eight-year licenses to foreign drivers for non-REAL ID licenses, regardless of when their legal status expired, and the state issuing commercial licenses to foreign drivers without providing any evidence that it had verified their current lawful presence in the United States.
https://justthenews.com/nation/states/center-square/new-york-loses-73m-federal-funds-tied-cdl-failures that Derek Barrs, administrator of the motor carrier administration, stated, “FMCSA’s mission is safety. That means ensuring that every commercial driver on the road is properly vetted and qualified. New York’s continued refusal to fix these failures undermines that mission, and we will not allow federal dollars to support a system that falls short of the law.”
Duffy told Fox News that the Dept. of Transportation has documented licenses and permits being issued to commercial truck drivers who are unskilled, putting American families at risk.
In December, Duffy gave the state of New York 30 days to get in compliance, warning state officials that, “When more than half of the licenses reviewed were issued illegally, it isn’t just a mistake—it is a dereliction of duty by state leadership. Gov. Hochul must immediately revoke these illegally issued licenses.”
Just the News reports that with the forfeiture of nearly $74 million in funding, Democratic Gov. Kathy Hochul’s administration is losing 4 percent of its National Highway Performance Program and Surface Transportation Program Block Grant Funds.
Duffy, https://x.com/SecDuffy/status/2044926137084547374?s=20, posed the question of whether pulling federal funding from non-compliant states worked before responding, “Just ask Gavin Newsom,” referring to how California revoked more than 17,000 licenses issued to undocumented people after the DOT pulled https://www.benzinga.com/news/politics/26/01/49774075/transportation-secretary-sean-duffy-pulls-nearly-160m-in-federal-funds-from-california-over-cdl-dispute-its-reckoning-day-for-gavin-newsom from the state.
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 11:40
https://www.zerohedge.com/political/ny-state-loses-73-million-federal-highway-funding-over-failed-cdl-revocations
NY State Loses $73 Million In Federal Highway Funding Over Failed CDL Revocations
https://amgreatness.com/2026/04/17/ny-state-loses-73-million-in-federal-highway-funding-over-failed-cdl-revocations/
Over $73 million in federal highway funds are being withheld from New York state after an audit found more than half the state’s commercial drivers licenses (CDL) were issued to foreigners illegally.
U.S. Transportation Secretary Sean Duffy https://justthenews.com/nation/states/center-square/new-york-loses-73m-federal-funds-tied-cdl-failures that the state failed to revoke “illegally issued nondomiciled commercial learner’s permits and commercial driver’s licenses.”
According to a https://www.transportation.gov/briefing-room/trumps-transportation-secretary-sean-p-duffy-uncovers-latest-bombshell-over-50-nys from the U.S. Dept. of Transportation, a Federal Motor Carrier Safety Administration’s (FMCSA) https://www.transportation.gov/briefing-room/president-trumps-transportation-secretary-sean-p-duffy-announces-nationwide-audit of non-domiciled commercial driver’s licenses (CDLs) uncovered a shocking 53 percent failure rate in the records sampled, indicating serious problems in New York’s CDL program.
Among the failures documented were New York DMV systems defaulting to issuing eight-year licenses to foreign drivers for non-REAL ID licenses, regardless of when their legal status expired, and the state issuing commercial licenses to foreign drivers without providing any evidence that it had verified their current lawful presence in the United States.
https://justthenews.com/nation/states/center-square/new-york-loses-73m-federal-funds-tied-cdl-failures that Derek Barrs, administrator of the motor carrier administration, stated, “FMCSA’s mission is safety. That means ensuring that every commercial driver on the road is properly vetted and qualified. New York’s continued refusal to fix these failures undermines that mission, and we will not allow federal dollars to support a system that falls short of the law.”
Duffy told Fox News that the Dept. of Transportation has documented licenses and permits being issued to commercial truck drivers who are unskilled, putting American families at risk.
In December, Duffy gave the state of New York 30 days to get in compliance, warning state officials that, “When more than half of the licenses reviewed were issued illegally, it isn’t just a mistake—it is a dereliction of duty by state leadership. Gov. Hochul must immediately revoke these illegally issued licenses.”
Just the News reports that with the forfeiture of nearly $74 million in funding, Democratic Gov. Kathy Hochul’s administration is losing 4 percent of its National Highway Performance Program and Surface Transportation Program Block Grant Funds.
Duffy, https://x.com/SecDuffy/status/2044926137084547374?s=20, posed the question of whether pulling federal funding from non-compliant states worked before responding, “Just ask Gavin Newsom,” referring to how California revoked more than 17,000 licenses issued to undocumented people after the DOT pulled https://www.benzinga.com/news/politics/26/01/49774075/transportation-secretary-sean-duffy-pulls-nearly-160m-in-federal-funds-from-california-over-cdl-dispute-its-reckoning-day-for-gavin-newsom from the state.
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 11:40
https://www.zerohedge.com/political/ny-state-loses-73-million-federal-highway-funding-over-failed-cdl-revocations
Former AI SPAC Executives Indicted For Fabricating "Virtually All" Revenue And Customers
Former AI SPAC Executives Indicted For Fabricating "Virtually All" Revenue And Customers
What looked like a booming AI company was, prosecutors say, an audacious house of cards built on deception.
iLearningEngines (former stock symbol AILE) executives allegedly fabricated virtually every pillar of their business—customers, revenues, and contracts—to cash in on the AI hype and dupe both everyday investors and major institutions.
The scheme involved creating entire fake client ecosystems: shell companies with polished websites, insiders or relatives posing as corporate executives, and bogus multimillion-dollar agreements designed to withstand scrutiny, according to a https://www.justice.gov/usao-edny/pr/former-chief-executive-officer-and-chief-financial-officer-nasdaq-listed-company. As U.S. Attorney Joseph Nocella put it, the company’s pitch of AI innovation masked something far more fraudulent: “the truly artificial part of the defendants’ story was iLearning’s customers and revenues.”
The scale of the alleged deception was staggering. The company reported soaring growth—claiming revenues that reached hundreds of millions—while prosecutors say those figures were largely invented. According to the indictment, executives inflated results through an “intricate web of sham contracts,” many supposedly worth tens of millions annually, all designed to convince investors the business was thriving.
In reality, the operation functioned less like a tech company and more like a carefully staged illusion meant to unlock funding and drive up valuation.
Behind the scenes, the mechanics of the fraud were brazen. Prosecutors say executives orchestrated “round-trip” transactions exceeding $144 million, secretly funneling investor and lender funds through fake customer accounts and then back into the company to simulate real revenue.
According to the DOJ press release, associates even opened bank accounts in the names of nonexistent clients to keep the money moving and the illusion alive. This circular flow of cash allowed the company to falsely appear profitable while relying entirely on outside funding.
When scrutiny finally intensified, the alleged response was not to come clean—but to double down. Executives allegedly lied repeatedly to auditors, investors, and lenders, and even coached others to back up the false story. “Our Office is committed to protecting investors and holding accountable corporate executives who undermine the integrity of our financial markets for personal gain,” Nocella said.
The scheme ultimately unraveled after a critical report by Hindenburg Research triggered a stock collapse, erasing massive value and pushing the company into bankruptcy—by which point insiders had already walked away with millions, leaving investors with devastating losses.
Back in 2024, Hindenburg Research https://hindenburgresearch.com/aile/ that the artificial intelligence company had "artificial partners and artificial revenue". The firm headed by Nathan Anderson said that iLearningEngines "was borderline insolvent when it merged with a desperate SPAC sponsor that was quickly running out of time to get a deal done."
The report focuses on an unnamed "Technology Partner" crucial to AILE's business, stating "nearly all of company’s revenue and expenses (~96% of revenue and ~100% of CoGs in 2022) seem to be run through an undisclosed related party, an unnamed 'Technology Partner'."
The company then told the SEC the technology partner was not a related party in a comment letter, Hindenburg says. It alleges that it "unmasked" the partner to be a related party...one which, at one point, shared a listed address with AILE's CEO's home residence.
"We believe the majority of iLearningEngines’ revenue doesn’t exist, and that its relationship with the mystery 'Technology Partner' is merely a conduit for falsifying its financials. We do not expect it will remain a public company for long," the short seller wrote.
Hindenburg published the AILE report the same week it wrote on Super Micro Computer, https://www.zerohedge.com/technology/super-micro-co-founder-charged-alleged-25-billion-nvidia-chip-smuggling-scheme. It looks like even though the short seller is now defunct, its work is still having an impact.
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 11:05
https://www.zerohedge.com/markets/former-ai-spac-executives-indicted-fabricating-virtually-all-revenue-and-customers
Former AI SPAC Executives Indicted For Fabricating "Virtually All" Revenue And Customers
What looked like a booming AI company was, prosecutors say, an audacious house of cards built on deception.
iLearningEngines (former stock symbol AILE) executives allegedly fabricated virtually every pillar of their business—customers, revenues, and contracts—to cash in on the AI hype and dupe both everyday investors and major institutions.
The scheme involved creating entire fake client ecosystems: shell companies with polished websites, insiders or relatives posing as corporate executives, and bogus multimillion-dollar agreements designed to withstand scrutiny, according to a https://www.justice.gov/usao-edny/pr/former-chief-executive-officer-and-chief-financial-officer-nasdaq-listed-company. As U.S. Attorney Joseph Nocella put it, the company’s pitch of AI innovation masked something far more fraudulent: “the truly artificial part of the defendants’ story was iLearning’s customers and revenues.”
The scale of the alleged deception was staggering. The company reported soaring growth—claiming revenues that reached hundreds of millions—while prosecutors say those figures were largely invented. According to the indictment, executives inflated results through an “intricate web of sham contracts,” many supposedly worth tens of millions annually, all designed to convince investors the business was thriving.
In reality, the operation functioned less like a tech company and more like a carefully staged illusion meant to unlock funding and drive up valuation.
Behind the scenes, the mechanics of the fraud were brazen. Prosecutors say executives orchestrated “round-trip” transactions exceeding $144 million, secretly funneling investor and lender funds through fake customer accounts and then back into the company to simulate real revenue.
According to the DOJ press release, associates even opened bank accounts in the names of nonexistent clients to keep the money moving and the illusion alive. This circular flow of cash allowed the company to falsely appear profitable while relying entirely on outside funding.
When scrutiny finally intensified, the alleged response was not to come clean—but to double down. Executives allegedly lied repeatedly to auditors, investors, and lenders, and even coached others to back up the false story. “Our Office is committed to protecting investors and holding accountable corporate executives who undermine the integrity of our financial markets for personal gain,” Nocella said.
The scheme ultimately unraveled after a critical report by Hindenburg Research triggered a stock collapse, erasing massive value and pushing the company into bankruptcy—by which point insiders had already walked away with millions, leaving investors with devastating losses.
Back in 2024, Hindenburg Research https://hindenburgresearch.com/aile/ that the artificial intelligence company had "artificial partners and artificial revenue". The firm headed by Nathan Anderson said that iLearningEngines "was borderline insolvent when it merged with a desperate SPAC sponsor that was quickly running out of time to get a deal done."
The report focuses on an unnamed "Technology Partner" crucial to AILE's business, stating "nearly all of company’s revenue and expenses (~96% of revenue and ~100% of CoGs in 2022) seem to be run through an undisclosed related party, an unnamed 'Technology Partner'."
The company then told the SEC the technology partner was not a related party in a comment letter, Hindenburg says. It alleges that it "unmasked" the partner to be a related party...one which, at one point, shared a listed address with AILE's CEO's home residence.
"We believe the majority of iLearningEngines’ revenue doesn’t exist, and that its relationship with the mystery 'Technology Partner' is merely a conduit for falsifying its financials. We do not expect it will remain a public company for long," the short seller wrote.
Hindenburg published the AILE report the same week it wrote on Super Micro Computer, https://www.zerohedge.com/technology/super-micro-co-founder-charged-alleged-25-billion-nvidia-chip-smuggling-scheme. It looks like even though the short seller is now defunct, its work is still having an impact.
https://cms.zerohedge.com/users/tyler-durden
Sat, 04/18/2026 - 11:05
https://www.zerohedge.com/markets/former-ai-spac-executives-indicted-fabricating-virtually-all-revenue-and-customers
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 https://www.twz.com/news-features/mystery-launcher-appears-on-u-s-navy-destroyer.
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, https://www.twz.com/news-features/mystery-launcher-appears-on-u-s-navy-destroyer 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.
USS Carl M. Levin (DDG 120) got a new Hellfire/JAGM launcher improving C-UAS capability.
はてなブログに投稿しました
米海軍DDGへのC-UAS用Hellfire/JAGM発射機搭載 - OSINFO https://t.co/R8hyf4B6L6https://twitter.com/hashtag/%E3%81%AF%E3%81%A6%E3%81%AA%E3%83%96%E3%83%AD%E3%82%B0?src=hash&ref_src=twsrc%5Etfw
— おるか (@hone_hone_bone_) https://twitter.com/hone_hone_bone_/status/2041937377447571511?ref_src=twsrc%5Etfw
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 https://www.twz.com/news-features/mystery-launcher-appears-on-u-s-navy-destroyer.
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 https://www.zerohedge.com/geopolitical/iran-mulls-hormuz-shipping-pause-preserve-talks-avoid-trump-blockade-showdown-us 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.
More than 10,000 U.S. Sailors, Marines, and Airmen along with over a dozen warships and dozens of aircraft are executing the mission to blockade ships entering and departing Iranian ports. During the first 24 hours, no ships made it past the U.S. blockade and 6 merchant vessels… https://t.co/dpWAAknzQp
— U.S. Central Command (@CENTCOM) https://twitter.com/CENTCOM/status/2044067513625936190?ref_src=twsrc%5Etfw
Trump has https://www.zerohedge.com/geopolitical/netanyahu-says-iran-ceasefire-could-end-any-moment-backs-trumps-blockade-tehran-blasts 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.”
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/16/2026 - 23:00
https://www.zerohedge.com/military/us-navy-destroyer-shows-new-launcher-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 https://www.twz.com/news-features/mystery-launcher-appears-on-u-s-navy-destroyer.
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, https://www.twz.com/news-features/mystery-launcher-appears-on-u-s-navy-destroyer 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.
USS Carl M. Levin (DDG 120) got a new Hellfire/JAGM launcher improving C-UAS capability.
はてなブログに投稿しました
米海軍DDGへのC-UAS用Hellfire/JAGM発射機搭載 - OSINFO https://t.co/R8hyf4B6L6https://twitter.com/hashtag/%E3%81%AF%E3%81%A6%E3%81%AA%E3%83%96%E3%83%AD%E3%82%B0?src=hash&ref_src=twsrc%5Etfw
— おるか (@hone_hone_bone_) https://twitter.com/hone_hone_bone_/status/2041937377447571511?ref_src=twsrc%5Etfw
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 https://www.twz.com/news-features/mystery-launcher-appears-on-u-s-navy-destroyer.
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 https://www.zerohedge.com/geopolitical/iran-mulls-hormuz-shipping-pause-preserve-talks-avoid-trump-blockade-showdown-us 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.
More than 10,000 U.S. Sailors, Marines, and Airmen along with over a dozen warships and dozens of aircraft are executing the mission to blockade ships entering and departing Iranian ports. During the first 24 hours, no ships made it past the U.S. blockade and 6 merchant vessels… https://t.co/dpWAAknzQp
— U.S. Central Command (@CENTCOM) https://twitter.com/CENTCOM/status/2044067513625936190?ref_src=twsrc%5Etfw
Trump has https://www.zerohedge.com/geopolitical/netanyahu-says-iran-ceasefire-could-end-any-moment-backs-trumps-blockade-tehran-blasts 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.”
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/16/2026 - 23:00
https://www.zerohedge.com/military/us-navy-destroyer-shows-new-launcher-mystery-weapons
US Army Trials Unmanned Hunter Wolf Robot With Gun, Radar In Combat Drills
US Army Trials Unmanned Hunter Wolf Robot With Gun, Radar In Combat Drills
The U.S. Army is quietly putting armed robots through their paces alongside real soldiers - and new footage suggests these machines could soon be a regular sight on tomorrow’s battlefields.
Fresh imagery dropped on Monday by the Defense Visual Information Distribution Service shows a Hunter Wolf unmanned ground vehicle rolling with the 101st Airborne Division during a full-on combat simulation at the Joint Readiness Training Center (JRTC) in Louisiana. The display amounted to a serious stress test in one of the Army’s roughest training environments - where ideas either prove they work or get ditched fast.
The Hunter Wolf’s appearance at JRTC marks a significant shift - as units aren’t just playing around with unmanned gear in isolated experiments anymore; they’re dropping it straight into realistic, chaotic scenarios. Elements of the 101st used the vehicle for logistics runs and security tasks throughout the exercise. Photos show it fitted with a remotely operated .50-caliber machine gun, which hints that the Army is testing it for more than just hauling supplies—it’s being eyed for actual tactical roles too.
https://www.instagram.com/p/DW7EirMmg1j/?utm_source=ig_embed&utm_campaign=loading
https://www.instagram.com/p/DW7EirMmg1j/?utm_source=ig_embed&utm_campaign=loading
https://www.instagram.com/p/DW7EirMmg1j/?utm_source=ig_embed&utm_campaign=loading
The Hunter Wolf was originally picked up under the Army’s Small Multipurpose Equipment Transport program to take some of the crushing load off soldiers’ backs. But at Fort Polk, they ran it with a remote weapon station and EchoShield radar, turning it into a rolling set of eyes and teeth. The combo lets a unit push sensors and firepower forward without putting troops in the open. The robot can scout ahead, scan for threats, and even lay down fire while the soldiers stay under cover.
At the same time, it still hauls the basics - ammo, water, batteries, comms gear - so small units can stay mobile and supplied across wide, contested spaces. In today’s fights, logistics and security are blurring together anyway. A robot that can do both fits right in.
Defense analyst Teoman S. Nicanci (https://www.armyrecognition.com/news/army-news/2026/u-s-army-tests-armed-hunter-wolf-ugv-to-shape-future-frontline-logistics-and-combat-security-roles) points out that the real story here is the Army choosing a high-intensity training rotation like JRTC instead of a safe, staged test. It shows they’re serious about folding this tech into actual formations and missions, not just checking boxes.
For units like the 101st, where speed and mobility are everything, these unmanned platforms help keep that edge without burning out the troops or exposing them unnecessarily. Future battles are going to be packed with drones, artillery, and precision strikes—anything that cuts risk while keeping the pressure on is worth its weight.
Bottom line: the Hunter Wolf isn’t science fiction anymore. The Army is learning, right now, how to weave robots into the fight so soldiers can move faster, hit harder, and come home safer.
h/t Interesting Engineering
https://store.zerohedge.com/products/multi-function-survival-flashlight?_pos=1&_psq=flash&_ss=e&_v=1.0
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/16/2026 - 20:30
https://www.zerohedge.com/technology/us-army-trials-unmanned-hunter-wolf-robot-gun-radar-combat-drills
US Army Trials Unmanned Hunter Wolf Robot With Gun, Radar In Combat Drills
The U.S. Army is quietly putting armed robots through their paces alongside real soldiers - and new footage suggests these machines could soon be a regular sight on tomorrow’s battlefields.
Fresh imagery dropped on Monday by the Defense Visual Information Distribution Service shows a Hunter Wolf unmanned ground vehicle rolling with the 101st Airborne Division during a full-on combat simulation at the Joint Readiness Training Center (JRTC) in Louisiana. The display amounted to a serious stress test in one of the Army’s roughest training environments - where ideas either prove they work or get ditched fast.
The Hunter Wolf’s appearance at JRTC marks a significant shift - as units aren’t just playing around with unmanned gear in isolated experiments anymore; they’re dropping it straight into realistic, chaotic scenarios. Elements of the 101st used the vehicle for logistics runs and security tasks throughout the exercise. Photos show it fitted with a remotely operated .50-caliber machine gun, which hints that the Army is testing it for more than just hauling supplies—it’s being eyed for actual tactical roles too.
https://www.instagram.com/p/DW7EirMmg1j/?utm_source=ig_embed&utm_campaign=loading
https://www.instagram.com/p/DW7EirMmg1j/?utm_source=ig_embed&utm_campaign=loading
https://www.instagram.com/p/DW7EirMmg1j/?utm_source=ig_embed&utm_campaign=loading
The Hunter Wolf was originally picked up under the Army’s Small Multipurpose Equipment Transport program to take some of the crushing load off soldiers’ backs. But at Fort Polk, they ran it with a remote weapon station and EchoShield radar, turning it into a rolling set of eyes and teeth. The combo lets a unit push sensors and firepower forward without putting troops in the open. The robot can scout ahead, scan for threats, and even lay down fire while the soldiers stay under cover.
At the same time, it still hauls the basics - ammo, water, batteries, comms gear - so small units can stay mobile and supplied across wide, contested spaces. In today’s fights, logistics and security are blurring together anyway. A robot that can do both fits right in.
Defense analyst Teoman S. Nicanci (https://www.armyrecognition.com/news/army-news/2026/u-s-army-tests-armed-hunter-wolf-ugv-to-shape-future-frontline-logistics-and-combat-security-roles) points out that the real story here is the Army choosing a high-intensity training rotation like JRTC instead of a safe, staged test. It shows they’re serious about folding this tech into actual formations and missions, not just checking boxes.
For units like the 101st, where speed and mobility are everything, these unmanned platforms help keep that edge without burning out the troops or exposing them unnecessarily. Future battles are going to be packed with drones, artillery, and precision strikes—anything that cuts risk while keeping the pressure on is worth its weight.
Bottom line: the Hunter Wolf isn’t science fiction anymore. The Army is learning, right now, how to weave robots into the fight so soldiers can move faster, hit harder, and come home safer.
h/t Interesting Engineering
https://store.zerohedge.com/products/multi-function-survival-flashlight?_pos=1&_psq=flash&_ss=e&_v=1.0
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/16/2026 - 20:30
https://www.zerohedge.com/technology/us-army-trials-unmanned-hunter-wolf-robot-gun-radar-combat-drills