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Jul 27, 2026 - World

On July 6, political scientist Robert Pape made an ominous prediction that an "August energy shock" could send global oil prices skyrocketing, but on Monday, a recent development led him to double down and forecast an even bigger shock to come.Last week, the Yemeni military organization the Houthis implemented a new maritime blockade on Saudi Arabian energy exports through the Red Sea, and over the weekend, Saudi Arabia launched attacks against the Houthis after its oil tankers came under fire.“After Houthi attacks on Saudi oil tankers, over 40% of Saudi oil bypassing Hormuz via the Red Sea is not hitting the global market. More attacks could reduce this further,” Pape, a professor at the University of Chicago, wrote in an analysis published Monday on his Substack. “By opening an active Red Sea front through its regional partners while keeping Hormuz closed, Iran [is] no longer presenting Washington with one maritime challenge. It is creating a two-front war problem in strategically linked theaters that must be managed at the same time.”Pape predicted as far back as June 15 that Iran was well positioned to “exploit the oil inventory clock” and weaponize rising oil prices to its advantage. He reiterated that analysis on July 6 and more explicitly predicted that an “energy shock” could hit global markets in August.Energy prices have, in fact, increased significantly since Pape’s initial prediction. With the United States having ramped up attacks on Iran starting earlier this month, gas prices have since soared in the United States to an average of $4.10 a gallon as of Friday, and are “poised to climb higher,” per NBC News.“In my July 6 briefing, I warned that the earlier prediction was on track,” Pape wrote. “The developments of the past week reinforce that strategic logic and likely make the coming shock more severe.”

Jul 27, 2026 - World

President Donald Trump’s complaints about coverage of his second term from the White House Correspondents’ Dinner last Friday were dismantled on Monday morning.On MS NOW’s “Morning Joe,” co-host Joe Scarborough laid reports about the White House chaos at the feet of Trump, who insisted on Friday that those reports are all “fake news.”“The Iran war, it keeps grinding on and on and on, a war of choice, and as it grinds on, Americans' approval of it collapses by the day,” he stated. “So Friday night, at an event that should have never been held, the president tells a room of reporters not to believe, quote, ‘fake news’ about how that war is going.”“Well, that fake news actually comes from calls inside the house, from the administration, from people who know it was a mistake to go in and there's no good way to get out. So you be the judge of that,“ he added.“But you don't have to judge higher costs, affordability, the president mocking affordability, like with your grocery bill, food prices are now rising at their sharpest pace in 50 years,” he elaborated. “You can read that in the Associated Press. You can read that in a variety of news reports this weekend — but you don't have to. All you have to do is look at your bill. Food at home costs up 33 percent since 2019, against just 6.4 percent growth in the seven years before that. And ground beef is now $6.82 a pound, up 79 percent. Gas prices? They just keep spiraling up, the price of oil spiraling up and war, it drives up fuel and fertilizer prices, and those prices drive up food.”“And it is food that's eating more of your paycheck than at any time since Gerald Ford was president of the United States,” he continued. “So against this backdrop, how did the president spend that same Friday night, not reassuring Americans on the war, not reassuring Americans on the cost of beef or on the cost of gas? No, he spent an hour on the physical appearance of the press corps confronting him, even telling CNN’s Kaitlan Collins on camera that she's attractive but never smiles and seemed to compare her to a trans influencer.” - YouTube youtu.be

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