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World Economy Apr 15, 2026

Big Oil Reaps $30m Hourly Windfall from War-Driven Price Surge

The world's top 100 oil and gas companies are making enormous profits due to the surge in oil price…
The ongoing conflict in Iran has led to a significant increase in oil prices, with the world's top 100 oil and gas companies reaping enormous profits. In the first month of the war, these companies banked more than $30m every hour in unearned profit, according to exclusive analysis for the Guardian. This translates to estimated windfall profits of $23bn for the month of March, with Saudi Aramco, Gazprom, and ExxonMobil among the biggest beneficiaries.The surge in oil prices to an average of $100 (£74) a barrel has resulted in a substantial increase in profits for these companies. If the oil price continues to average $100, the companies are expected to make $234bn by the end of the year. The analysis uses data from a leading intelligence provider, Rystad Energy, analysed by Global Witness.The excess profits come from the pockets of ordinary people as they pay high prices to fill up their vehicles and power their homes, as well as from businesses incurring higher energy bills. Dozens of countries have cut fuel taxes to help struggling consumers, but this has resulted in reduced revenue for public services.Pressure is growing for windfall taxes on the war profits of oil and gas companies, with the European Commission considering a request from the finance ministers of Germany, Spain, Italy, Portugal, and Austria. The ministers argue that this would help ease the burden on the general public and finance temporary relief measures.Aramco is expected to make a war profit of $25.5bn in 2026 if the oil price averages $100. This is on top of the huge profits habitually made by the majority state-owned Saudi company – $250m a day between 2016 to 2023. ExxonMobil, which has a long record of denying climate change, will take in $11bn in unearned war profits in 2026 if the $100 price endures.The impact of the Iran war is likely to be long lasting, with the head of the International Energy Agency, Fatih Birol, describing it as the biggest shock ever to the global energy market. The UN's climate chief, Simon Stiell, warned that fossil fuel dependency is ripping away national security and sovereignty, and replacing it with subservience and rising costs.
#oil #war #energy
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Film Apr 15, 2026

Truth & Treason Film Review: A Persuasive Portrayal of WWII German Resistance

The film 'Truth & Treason' tells the story of Helmuth Hübener, a German Mormon teenager who transit…
The film 'Truth & Treason' presents a compelling narrative centered around Helmuth Hübener, a German Mormon teenager from Hamburg who played a significant role in the German resistance during World War II. Initially a member of the Hitler Youth, Hübener's perspective shifted dramatically after his Jewish friend Salomon Schwarz was sent to Auschwitz. This pivotal event inspired Hübener to take a stand against the Nazi regime by distributing leaflets that denounced their actions.Despite being backed by faith-based outfit Angel Studios, known for producing content that can be perceived as promoting certain ideologies, the film manages to convey its anti-fascist message effectively. The acting, particularly by Ewan Horrocks as Hübener and Rupert Evans as Gestapo officer Erwin Mussener, has been praised for its quality. A climactic conversation between Horrocks and Evans characters stands out for its intensity and persuasive dialogue.The film's portrayal of Hübener's actions and the consequences he faced is both timely and impactful, especially in today's world. With its anti-fascist message, 'Truth & Treason' feels relevant and necessary. Although considered flawed, the movie is commended for having its heart in the right place. It is now available on Prime Video from April 20th.
#truth #his #bener
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World Economy Apr 15, 2026

Cuba's $8bn Renewable Energy Plan to Outsmart US Blockade

Cuba can achieve energy independence from the US with an $8bn investment in renewable energy, poten…
Cuba is on the brink of transforming its energy landscape with a bold plan to invest $8bn in renewable energy, which could reduce its reliance on fossil fuels and pave the way for energy independence from the US. The proposal, put forth by the Common Wealth thinktank's Transition Security Project (TSP), suggests that this investment could cover 93.4% of Cuba's electricity generation needs.The US has imposed a crippling energy blockade on Cuba, severely limiting the island nation's access to oil. Since January, Cuba has received only one shipment of oil, from Russia, and its national electric grid has collapsed, leading to repeated blackouts and widespread disruptions.The TSP analysis outlines four different scenarios for Cuba's transition to renewable energy, with costs ranging from $5bn to $19.2bn. The most ambitious proposal would see three-quarters of electricity generation provided by solar power, with wind, hydropower, and bioenergy making up the remainder.The report argues that electricity costs would decrease in every renewable investment scenario, with the cost per unit of energy falling from 14.3¢ per kWh in the baseline scenario to 6.5¢ with $8bn of investment. The transition would require a society-wide transformation, but Cuba has demonstrated its ability to adapt in the past, such as its rapid shift to agroecology and self-sufficiency in the 1990s.The question remains: who would pay for this transition? The report suggests that financing should be understood as "reparative climate finance", with Cubans able to pay back investments through savings on cheaper energy. The transformation would not only benefit Cuba but also set an important example of a rapid energy transition under conditions of external constraint.
#energy #cuba #renewable
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Entertainment Apr 14, 2026

Avenue Q Returns to the West End: 20‑Year Revival Tackles Modern Sensitivities and Elevates Puppetry

The award‑winning musical Avenue Q celebrates its 20th anniversary with a refreshed West End run at…
Celebrating two decades since its West End debut, Avenue Q is back at London’s Shaftesbury Theatre until 29 August, offering a refreshed version of the Broadway‑to‑London hit that originally won Tonys for Best Musical, Book and Score.The revival, billed as a “love letter to the original”, is helmed once again by Jason Moore – the director who first staged the show in 2006. At 55, Moore admits that returning to a work he originally conceived is unusual, but he sees the anniversary as an opportunity to upgrade the show’s scale, technical ambition and cultural sensitivity.Created by composers Robert Lopez and Jeff Marx with book by Jeff Whitty, the musical blends colourful Sesame‑Street‑style puppets with adult themes such as sex, racism, housing crises and existential angst. While the core story remains, the production team has added contextual notes to jokes that might puzzle Gen‑Z audiences – for example, the reference to 1980s sitcom star Gary Coleman is retained but clarified for modern viewers.Moore’s casting criteria emphasise a youthful “innocence” and a strong aptitude for puppeteering. As actor Emily Benjamin explains, performing through a puppet is an “ego death” that forces the performer to shift focus from self to the character, reducing vocal anxiety and deepening emotional honesty.Behind the scenes, puppet director Iestyn Evans coordinates a complex choreography where human actors operate hand‑and‑rod puppets in full view, interacting simultaneously with fellow performers. This layered performance style demands precise timing, especially when tackling songs like “Everyone’s a Little Bit Racist” and “If You Were Gay”, which have sparked whole‑company discussions about their relevance and sensitivity today.Moore acknowledges that the show’s transgressive edge – famously illustrated by “naked puppets having sex” – still feels bold, even as contemporary West End productions such as Oh, Mary! and The Book of Mormon have pushed similar boundaries. He argues that the musical’s core questions – “how do you give your life meaning?” – remain timeless, and that the updated production aims to engage a new generation of audiences.As Benjamin puts it, “they might just be little cloth things, but people can often empathise with something that isn’t real more directly than with a human being telling the same story.” The revival therefore hopes to prove that puppetry can still provoke, entertain and resonate in today’s cultural climate.
#Avenue Q #Shaftesbury Theatre #Jason Moore
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World Economy Apr 14, 2026

Australia’s EV Policy Gap Costs Billions and Delays Massive Consumer Savings

Australia’s reluctance to set firm deadlines for phasing out petrol and diesel cars has left the na…
In 2020, several nations—including the UK and India—announced ambitious bans on new internal‑combustion‑engine vehicles, while Norway already saw around 60% of new car sales being electric. Australia, however, remained on a different trajectory. Former Prime Minister Scott Morrison dismissed a Labor proposal for a non‑binding 50% electric‑vehicle target by 2030, claiming it would “end the weekend.” The Coalition ignored analyses suggesting that a robust emissions‑cut scheme could deliver a $14 billion net benefit by 2040, and later abandoned plans for an EV‑specific strategy. Five years on, the Albanese government has introduced a vehicle‑efficiency standard mandating annual reductions in average emissions from new cars. Though a long‑awaited move, the policy’s impact will be incremental rather than transformative. March saw a record number of Australians purchasing EVs, yet the market share remains modest—still under 15% of new car sales, up only slightly from 13% in 2025. With fuel prices soaring amid the Iran conflict, the majority of vehicles leaving showrooms are still powered by petrol or diesel, and many will stay on the road for the next 15‑20 years. One bright spot is the surge in second‑hand EV sales, which more than doubled last month despite a tiny baseline. Higher resale values are encouraging broader adoption by making electric cars financially accessible to a larger pool of buyers. Globally, electric vehicles accounted for roughly 25% of new car sales last year. In Australia, the price differential between comparable petrol and electric models averages around 20%, a significant barrier for many consumers. That gap is narrowing, and the potential savings for EV drivers are substantial. Data from energy analyst Simon Holmes à Court—using Amber electricity retailer figures—show that an EV can travel over 40 km per $1 of energy, whereas a conventional car manages less than 5 km per $1 of fuel. Amber’s own smart‑charging platform suggests the distance could reach 160 km per $1 under optimal conditions. Despite such evidence, Australian political discourse often struggles to envision a low‑fossil‑fuel future. Calls for expanded oil exploration, such as Queensland Premier David Crisafulli’s claim of a “sea of oil” in the Taroom trough, lack substantiation and would likely involve costly, long‑term development with uncertain returns. Compounding the issue, the mining sector—Australia’s biggest diesel consumer—receives a 52‑cent‑per‑litre rebate under a national fuel‑tax credit scheme, effectively subsidising over $1 billion annually for diesel use in coal mines. This incentive discourages investment in cleaner truck technologies, even as the safeguard mechanism attempts to curb emissions. Policy recommendations include tightening the vehicle‑efficiency standard to accelerate the shift toward cleaner cars, removing parallel‑import restrictions to boost the supply of affordable second‑hand EVs (as practiced in New Zealand), and reconsidering any road‑user charges on electric vehicles, which currently represent less than 2% of the total fleet. International examples offer guidance: China jump‑started its EV boom by issuing “green” licence plates and imposing hefty fees for fossil‑fuel plates, effectively raising the cost of owning a petrol car by up to $20,000. In sum, Australia’s delayed embrace of electric mobility not only hampers climate goals but also forfeits billions in economic gains. A decisive, well‑targeted policy overhaul could unlock significant consumer savings, reduce emissions, and align the nation with global EV trends.
#more #australia #cars
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Environment Apr 14, 2026

Britain’s Record Renewable Summer Triggers New Demand‑Response Push to Cut £1.5bn Grid Costs

A historic surge in wind and solar output this summer could allow Great Britain to run periods of e…
Great Britain is on the verge of a record‑breaking summer of wind and solar generation, creating the possibility of the first zero‑carbon electricity periods in the nation’s power system.The government’s ambition to achieve a 95% gas‑free grid by 2030 underpins this push, as electrified transport, heat pumps and low‑carbon industry will need a clean power supply to meet climate targets.National Grid ESO (Neso) forecasts that on sunny weekend afternoons the grid could have more renewable power than demand, leaving excess capacity that would otherwise be wasted.To turn surplus into savings, Neso is urging households and businesses to shift flexible loads—such as charging electric vehicles, running dishwashers or doing laundry—to those high‑renewable windows.Leading suppliers Octopus Energy and British Gas have confirmed participation, offering special tariffs that reward consumers for using electricity when it is abundant.British Gas’s “PeakSave” scheme, for example, provides half‑price electricity from 11 am to 4 pm on Sundays, with an even cheaper “Super Sunday” option from 9 am to 5 pm. The company says the tariff has saved over £45 million for more than 1 million customers since its 2023 launch. Octopus Energy reports helping 2 million households save about £11 million, including £3 million in free electricity during periods of high renewable output.Other providers—including Ovo Energy and EDF Energy—offer similar “time‑of‑use” tariffs that charge higher rates when renewables are scarce, giving price‑sensitive users a clear incentive to shift consumption.Beyond bill reductions, flexible demand curtails the need for “constraint payments” to wind and solar farms—payments that reached almost £1.5 billion last year. By encouraging consumers to “turn up” rather than forcing generators to “turn down,” the grid can avoid these costly curtailments.Businesses are also joining the flexibility movement. Tech firms report that adaptable energy use can cut datacenter grid costs by up to 5% and slash emissions by as much as 40%. Danish engineering group Danfoss estimates that if datacentres operated flexibly for just 1% of the time, the pipeline of new facilities expected by 2035 could be accommodated without overloading the grid.In short, leveraging surplus renewable power now—through smart tariffs and demand‑shifting—offers a cheaper, faster alternative to massive storage or grid‑upgrade projects, while delivering tangible savings for consumers and a decisive step toward a low‑carbon British electricity system.
#Great Britain #wind power #solar power
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World Economy Apr 14, 2026

Record-Breaking Wildfires Devastate US Cattle Country, Leaving Thousands of Livestock Dead and Communities Reeling

Severe wildfires have ravaged Nebraska's cattle country, burning over a million acres of land, kill…
The American Great Plains, typically greening up in spring, are instead scarred by record-breaking wildfires that have devastated the region, leaving over a million acres of land blackened and barren.In Nebraska, where most of the nation's beef producers graze their herds, multiple blazes raged across the state, shattering records for annual acreage burned. The Morrill fire, which spread across more than 642,000 acres, was the largest blaze ever recorded in the state.Fire is not uncommon in this region in early spring, when precipitation is low, grasses are dry and dormant, and strong winds blow through the open flats. However, the risks have sharply risen in recent years, driven by climate change and land management practices.Experts warn that a changing wildfire dynamic in the region is creating more catastrophes. 'There is a changing wildfire dynamic in this region,' Dr Dirac Twidwell, a rangeland ecologist at the University of Nebraska, said. 'Stronger summer storms seed the grasses that cure by winter. If there's no protective snow cover, that browned vegetation ramps up fire risks – especially when the winds begin to blow.'This year's conditions converged to create the perfect storm in Nebraska. A warm and dry winter, with the second warmest and fourth driest conditions on record, set the stage for the devastating fires.The Morrill fire claimed the life of 86-year-old Rose White, a great-grandmother, as she tried to flee her home. It reduced parts of the Nebraska Sandhills – one of the largest temperate grasslands still intact across earth – to ash and sand.Thousands of livestock were killed or severely burned, and miles of fencing and forage are gone. The fires have also had a significant impact on the cattle industry's feeding operation, which is concentrated on the Great Plains.While experts are assured that the lands will rebound, they also stress that fires will happen in a grassland system. 'The idea that we can completely remove fire from these systems isn't really feasible,' Dr Victoria Donovan, assistant professor of forest management at the University of Florida, said.
#fire #nebraska #fires
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Politics Apr 14, 2026

Dublin Fuel Blockade Compels Irish Government to Unveil €500 Million Relief Package Amid Energy Crisis

A week‑long blockade of Dublin’s main thoroughfare by tractor‑driven fuel protesters forced the Iri…
On O’Connell Street, a lime‑green CLAAS tractor arrived with a 19‑year‑old driver named Dylan, who explained that his convoy was the second to join a city‑wide fuel blockade that halted traffic for nearly a week. The protest, organized by farmers, hauliers and fishermen, highlighted the impact of a 60% increase in fuel duties and taxes on everyday Irish life. Dylan warned that the surge in fuel costs would eventually ripple through food prices, threatening household budgets across the nation. He and his companions, two teenagers, had endured cold nights inside the tractor, underscoring the desperation felt by many workers. The unrest, described by the Irish president as an "illegal war on Iran," has laid bare Ireland’s dependence on fossil fuels and the lack of a coherent transition strategy toward renewable energy. During six days of action, protestors blocked motorways, ports, the country’s sole oil refinery in County Cork, and fuel depots in Limerick and Galway. By the end of the week, petrol stations began to run low, prompting the justice minister to consider deploying the army. Yet on the streets, public sentiment was largely supportive; a recent poll indicated that 56% of respondents backed the demonstrators. Historical symbolism filled the scene: tractors flew the Irish tricolour beside buildings still scarred by the 1916 Easter Rising, while a lorry bore a painted coffin with the words "RIP Ireland" and a banner reading "Easter 2026". Critics on national radio questioned the tactics, citing concerns for vulnerable patients unable to reach medical appointments. Nonetheless, the direct‑action approach succeeded in drawing international attention and pressuring the government. When mounted police units arrived on Sunday morning, the convoy withdrew peacefully. Shortly thereafter, the coalition of Fianna Fáil and Fine Gael announced a €500 million concession package, augmenting an earlier €250 million relief plan with cuts to excise duty and a postponement of the next carbon‑tax increase. Despite the financial concessions, a looming no‑confidence vote appears unlikely to topple the centre‑right coalition, even as public trust in traditional parties wanes. Dylan, too young to have voted in the last election, expressed little confidence in the political establishment. The protests have also been infiltrated by far‑right elements, with some speakers promoting anti‑immigrant conspiracies and misogynistic rhetoric. One spokesperson was found to have prior convictions for animal cruelty, and the Muslim Sisters of Éire reported being told to "go home" by flag‑waving agitators, highlighting a surge in xenophobic discourse. Beyond the immediate fuel price surge—up roughly 20% in a single month—the demonstrations raise broader questions about Ireland’s reliance on volatile global markets. The nation imports over 80% of its fruit and vegetables, while its data‑centre sector now consumes more electricity than all urban households combined, underscoring the tension between economic growth and sustainable energy policy. Analysts argue that lasting change cannot be achieved by pushing working people to the brink while catering to corporate interests. Ireland is expected to lobby the EU for a pause on carbon‑tax increases and to join calls for an EU‑wide tax on oil and gas profits, similar to measures advocated by Spain. In sum, the Dublin fuel blockade has forced the government to concede significant fiscal relief, exposed deep structural vulnerabilities in Ireland’s energy and food supply chains, and sparked a contentious debate over the role of grassroots protest, social cohesion, and climate justice.
#Irish government #fuel blockade #carbon tax
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Sports Apr 14, 2026

PSG's Clinical Win Dashes Liverpool's Champions League Dreams, Highlighting Anfield's Limits

Paris Saint-Germain eliminated Liverpool 4‑0 on aggregate in the Champions League, exposing the Red…
Paris Saint-Germain proved too efficient for Liverpool, sealing a 4‑0 aggregate victory that ended the English club's European campaign and reminded fans that even Anfield cannot conjure miracles on demand. Despite a spirited second‑leg effort, Liverpool could not overturn the deficit. Early rain and a rousing rendition of "You’ll Never Walk Alone" created an electric atmosphere, yet the home side fell short of the two‑goal comeback that seemed plausible after their 2019 comeback against Barcelona. Key moments swung the tie in PSG’s favour: goalkeeper Matvey Safonov denied Milos Kerkez, and defender Marquinhos produced a crucial block on Virgil van Dijk. A minute earlier, Liverpool’s promising youngster Hugo Ekitiké suffered an Achilles injury, forcing his removal on a stretcher and further destabilising the Red Side. The match also highlighted Liverpool’s strategic disarray. Summer signings—forward Alexander Isak, midfielder Florian Wirtz and striker Mohamed Salah—cost the club a combined £320 million but have logged barely two hours together on the pitch. Their limited chemistry was evident as Isak was withdrawn at halftime after a tentative first half. When the game reached its climax, PSG’s forward Ousmane Dembélé finished the tie, underscoring the French side’s decisive edge in front of goal—a quality Liverpool has lacked all season. For manager Arne Slot, the defeat offers little respite. While Liverpool showed flashes of resilience, the loss eliminates any realistic route to the quarter‑finals and intensifies scrutiny over his tactical direction. In the end, Anfield’s roar could not compensate for a disjointed Liverpool squad, and PSG’s clinical performance reaffirms their status as European champions.
#liverpool #but #perhaps
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