PUTIN’S ENERGY WEAPON HAS NOW COME BACK TO BITE HIM
[I have known Ambrose since the early i990s, when he was the London Telegraph’s US correspondent based in DC. Now he is the Telegraph’s World Economy Editor. Ambrose is at the top of his game in this analysis. –JW]
Vladimir Putin’s predicament is deteriorating fast across every front of the global energy war. Western sanctions are at last going for the jugular, and Donald Trump has finally thrown American power behind the blockade.
The Saudis are flooding the world oil market in a ruthless drive to regain lost share. A glut of historic proportions is building and is likely to last deep into 2027. Goldman Sachs has told clients that Brent crude prices could drop to the low $40s.
The International Energy Agency (IEA) has drastically revised its global supply and demand forecasts. China has filled its strategic petroleum reserve to near bursting point and can no longer keep mopping up the surplus. Excess crude is now being stored on water in a giant global armada of floating tankers.
The math is brutal. The IEA expects a jumbo global surplus of four million b/d in 2026. “It is increasingly clear that something has to give,” said Toril Bosoni, head of the agency’s oil and markets division.
That something is the Russian war economy.



When a man seeks to lead the largest city in America, his citizenship should be beyond question. Yet the candidacy of Zohran Mamdani, an avowed Radical Muslim Communist Democrat and recently naturalized U.S. citizen, has raised a troubling question: Did he obtain his citizenship under false pretenses?

Lying takes a huge toll on our relationships, our physical health, and our mental health. But sometimes we’re not so clear about what it means to be honest. Does it mean we say everything that we think or feel?







