Insurance isn't the bottleneck. The bottleneck is that there's no replacement for a ship, or its crew, at any price.

India, Japan, and China each built their energy plumbing around a 30-mile chokepoint. Now the chokepoint is closed.

When 'psychological damage' becomes capital flight

Annual licenses, tariff carve-outs, and the problem of making chips in China

Beijing on Tuesday, Washington on Monday, and what Germany gets for showing up

A 1953 agreement, a 2026 war, and the question of what 'joint use' actually means

Energy dominance is great until your constituents get the heating bill.