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politics·politics byTronBronson

Oil Prices Are Surging Above $100 Even After U.S. Lifts Russia Sanctions.

Oil prices climbed above $100 a barrel Friday even after the U.S. temporarily lifted sanctions on Russian crude in a bid to ease supply disruption. Brent crude futures, the international benchmark, climbed 0.5% to $100.96 per barrel early in the day, while West Texas Intermediate futures edged higher to $95.80 . The U.S. has temporarily lifted sanctions on Russian oil already at sea, in a bid to boost the reach of existing crude supply, Treasury Secretary Scott Bessent said late Thursday. "This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government," he said in a social-media post on X. The temporary authorization runs until April 11 , according to a general license posted by the Treasury department. The Trump administration is also considering waiving the century-old Jones Act -- a maritime law that requires all vessels carrying goods between two U.S. ports to be American built and owned, Bloomberg reported. A potential 30-day exemption would apply largely to vessels carrying oil, gasoline, diesel, liquefied natural gas, and fertilizer, it added. It would be the latest in a series of measures by the U.S. and other countries to bring down surging energy prices. The International Energy Agency announced that its 32 member countries will release 400 million barrels of emergency oil reserves -- the largest release in history -- earlier this week. But oil prices have just kept rising. Goldman Sachs analysts now expect Brent crude prices to average more than $100 a barrel in March, and $85 in April, according to a note Friday. Events in the Middle East , and the Strait of Hormuz , in particular, remain the biggest driver for energy markets. Several ships have been struck in recent days and Iran's Supreme Leader Mojtaba Khamenei said the strait should remain closed in comments read out on state television Thursday. Another key route for oil could soon become a flashpoint in the war. Iran -backed Houthis in Yemen and other groups stand ready to join the conflict and Iran's semiofficial Fars News Agency said their involvement could lead to the closure of the Bab el- Mandeb Strait , The Wall Street Journal reported. It's a passage that connects the Red Sea with the Gulf of Aden and the Indian Ocean . Four crew members on board a U.S. refueling aircraft that crashed in western Iraq Thursday have died, U.S. Central Command said in a post on X Friday. "The circumstances of the incident are under investigation. However, the loss of the aircraft was not due to hostile fire or friendly fire," it added. President Donald Trump ramped up his rhetoric in a Truth Social post early Friday, though it didn't suggest an imminent end to the conflict. "We are totally destroying the terrorist regime of Iran , militarily, economically, and otherwise," Trump said. "We have unparalleled firepower, unlimited ammunition, and plenty of time," he added. That last part, in particular, won't please investors. Global markets are eager for a swift end to the Iran war -- the growing signs of a prolonged conflict have pushed oil prices higher in recent days, despite the continued efforts of the U.S. and other countries to ease the disruption.

https://www.barrons.com/articles/oil-prices-trump-iran-war-russia-e1c097d2?mod=hp_LEDE_C_2Open linkView original on lemmy.world
politics·politics byTronBronson

Ted Cruz asks Treasury to approve $200 billion tax cut without Congress

Do you think congress may have forgotten how their job works? Like I remember learning the importance of congress in middle school. Power of purse and all that. Why is the congress petitioning the president for legislation? Can we please replace the congressmen who don't understand what their job description is? Every day in the news its just "Legislator asking someone else to do their job" "Legislature confused on how laws are made" "legislator claiming the presidents office is just better at making laws"

Ted Cruz asks Treasury to approve $200 billion tax cut without Congresshttps://archive.ph/2026.03.03-100822/https://www.washingtonpost.com/business/2026/03/03/capital-gains-tax-relief-cruz/Open linkView original on lemmy.world
politics·politics byTronBronson

Interest on the $38.8 trillion national debt has tripled since 2020, and it already costs taxpayers more than defense and Medicaid

Does the United States have a spending problem? Obviously, but I really wanted to talk about how the cost of living crisis is presenting itself in your community. That relates to this article because you can't squeeze blood from a stone. If all of you have no disposable income, no savings, and a job market that can't support your current cost of living... What happens if you lose your job? Do you default on loan obligations along with America because we are stretched to the edge. Should we vote in members of congress to pass more tax breaks for private jets?Are mods whack? Let me know in the comments.

Interest on the $38.8 trillion national debt has tripled since 2020, and it already costs taxpayers more than defense and Medicaidhttps://fortune.com/2026/03/02/how-much-interest-on-national-debt-do-taxpayers-pay/Open linkView original on lemmy.world

Call susan Collins and ask her for insider trading tips.

Simple enough. Susan Collins and her republican collegues are crashing the global economy so they can consolidate more wealth. As her constiutents we are owed insider trading tips. She cannot make all the free money while we pay her salary. She must share. They pump and dumped SP500, the Bond market is next. Global bond holders will start a sell off soon, they will allow rates to rise drastically befofe the federal reserve steps in and makes all the front runners billionaires. We want to front run this move. Call susan collins and ask her when she is buying US Bonds and what % point they will pump them.

It was just like the SP500 climbing 10% on the back of a trump tweet. This is extremely criminal and we are all going to end up very poor if we end up the victims of this scheme.

View original on lemmy.world

Democats filibuster medicaid cuts for 12 hours live.

It's nice to see the senate opposition functioning.

Edit: 18 hours of holding the senate floor, giving voice to the american people. Lots of tears as american suffering is read out loud for the congressional record. Testiment from Americans across the country. This is the voice of the people. Please click the link, share and watch. The media needs to know we care about the opposition more than we care about trump rambling on a plane about fort knox.

https://www.c-span.org/event/us-senate/us-senate/432077Open linkView original on lemmy.world

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