U.S. crude oil output in September fell to the lowest monthly level in more than 55 years because of Hurricane Ivan and interruptions for maintenance in Alaska, the American Petroleum Institute said. The United States pumped 4.85 million barrels a day last month, down 830,000 barrels, or 15 percent, from a year earlier. Crude oil inventories fell 8.7 million barrels, to 273.1 million last month, leaving supplies 3.1 percent lower than in August.
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Iran, U.S., and the Rest: The Unavoidable Pig in the Python
In this episode, Nate offers a personal reflection on the unfolding geopolitical tensions surrounding the Strait of Hormuz, beginning with an examination of how disruptions to fossil fuel flows propagate through the global economy, but with a time lag.
March 30, 2026
Iran to Trump: If you destroy us, you destroy yourself
So, there you have it. Trump and his team have stumbled into a war they cannot win. If the war does not end soon, it will likely destroy the world economy for lack of energy supplies and plunge it into a deep, years-long depression, one from which it will be difficult to emerge.
March 29, 2026
Entropia and the Disintegration of Empire
As the current situation (March 2026) around the Strait of Hormuz continues to destabilise the global economy, it is timely to return to Alexander’s analysis outlining ‘the Disintegration of Empire’ (being Chapter Two of Entropia).
March 23, 2026
