Crude Economics
OPEC Doubles Down on its Losing Hand

The decision to extend production cuts was as predictable as it was desperate.

deep state
Something Is Deeply Wrong in the U.S. Intelligence Community

The Manchester leaks are the product of a dangerously arrogant and unaccountable intelligence community.

MANDEL NGAN/AFP/Getty Images
Donald of Arabia
Why Trump Shouldn’t Rush to Pop Champagne Corks

Spoilers are already laying plans to derail the President’s Middle East agenda.

Better Late Than Never
Trump Launches First FONOP in South China Sea

More, please.

Europe in the Age of Trump
NATO Without America?

Like democracy, our European allies are our worst option except for all the others. The Europeans need us, and we need them—let’s not call the whole thing off.

markets
Who Owns Stocks?

The share of people who benefit from the stock market should be widening, not contracting.

Market Failure
Europe’s Decrepit Carbon Market Gets a Grim Prognosis

The EU’s ailing Emissions Trading System is looking more useless than ever before.

Settled Science
New Study Suggests We’re Overestimating Coal’s Planet-Wrecking Power

Our worst-case climate scenarios are relying on outdated, incorrect coal data.

Risky Business
Moody’s Cuts China Down To Size

The Long March toward a Chinese meltdown continues.

Make NATO Great Again
Pew: NATO Approval on the Rise

Is this the Trump effect?

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