Chris Wright, Donald Trump’s energy secretary, published an important announcement to social media on Tuesday. “The U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing to global markets,” the C...
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...abinet secretary posted on X. Almost immediately, investors celebrated, the stock market jumped and oil prices fell, as many took Wright at his word. There was, however, an important problem. The energy secretary was completely wrong, and his post was deleted soon after it was published. Multimillion-dollar trades were wiped out in an instant. Honestly, the incompetence and moral bankruptcy of the US government has been my baseline expectation for years.
