Industry News, Trends, Updates

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US oil giants mum after Trump says they’ll spend billions in Venezuela
Trump announces plans for U.S. energy companies to return to Venezuela and rebuild its oil infrastructure, targeting the world’s largest oil reserves.
‘We built Venezuela’s oil industry:’ Trump vows US energy return after Maduro’s capture
Trump pledged a U.S. return to Venezuela’s oil industry after Maduro’s capture, vowing American companies will rebuild infrastructure and reclaim assets.
Widening K-shaped economy pattern across income groups
Bank of America data reveals a stark K-shaped economy as higher-income Americans spend 2.6% more while lower-income households manage just 0.6% growth.
Luxury automaker recalls more than 173,000 vehicles in the US over rearview camera issue
Porsche recalled over 173,000 vehicles due to faulty rearview cameras that may fail while reversing, creating potential crash risks for drivers nationwide.
Oil and gas prices expected to stay significantly lower through 2026
Oil and gas prices are set to drop by 2026, with Brent crude falling to $55 per barrel and retail gas reaching $3 per gallon, according to new EIA projections.
Sprinkles Cupcakes permanently closing all stores after 20 years in operation, founder says
Sprinkles Cupcakes, famous for its cupcake ATMs, is permanently closing all locations after 20 years in business, shocking customers and employees nationwide.
Duffy says California does not have extension on deadline to cancel foreign nationals’ trucker licenses
The California DMV said it would delay revoking 17,000 commercial driver licenses held by foreign nationals, but Transportation Secretary Sean Duffy disputes the extension.
Boeing secures $8.6B contract to build fighter jets for Israel’s air force
Boeing secured an $8.6 billion Pentagon contract to build 25 new F-15IA fighter jets for Israeli air force, with an option for 25 more aircraft by 2035.
Exec predicts a slow rise in oil prices due to geopolitical issues
President of Lipow Oil Associates Andy Lipow discusses the impact on the oil and gas market from geopolitical tensions, the data national average of gas prices and data center demand for energy on ‘The Claman Countdown.’
IRS hands workers bigger tax break for business expenses in 2026
Gig workers get a tax break with higher mileage rates for 2026. The IRS increased business driving deductions to 72.5 cents per mile from last year.
US fusion strategy stuck in past as China moves ahead, CEO warns
The U.S. faces a potential