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The Supreme Court rejected Virginia’s bid to restore a congressional map that would've led Democrats to pick up four seats in the House of Representatives.

India Raises Fuel Prices For The First Time In Four Years

Submitted by Irina Slav of OilPrice.com

Indian state refiners raised their retail prices for gasoline and diesel by the equivalent of $0.031 per liter in response to tighter crude oil availability. This is the first fuel price hike in India in four years, Bloomberg noted in a report on the news.

The hike amounts to over 3% and was necessitated by the global crude oil price surge that resulted in losses for India’s refiners. Still, New Delhi put off the price hike for much longer than other governments, due to the sensitivity of Indian consumers to such hikes.

The Economic Times reported that wholesale fuel prices had surged in April, with gasoline prices up by 32.4% and diesel prices up by 25.19%. That’s up from a monthly rise of 2.5% for gasoline in March, and 3.62% for diesel.

Since the war in the Middle East began and cut off over 40% of India’s crude oil flows, those that passed through the Strait of Hormuz, one of the highest-flying economies in Asia, has seen its oil import bill soar, investors fleeing the capital market, and the local currency plunging to an all-time low against the U.S. dollar.

As a result, the world's third-largest crude importer saw its wholesale inflation jump to 8.3% in April from a year earlier, significantly accelerating from 3.88% annual inflation in March, government data showed on Thursday.

While India has crude oil stockpiles, it is advising conservation and earlier this week asked the United States to extend a sanction waiver on Russian crude amid the absence of viable replacements to lost Middle Eastern barrels.

Washington earlier extended the waiver to May 16, but this day is fast approaching with no change in the stalemate over the Strait of Hormuz, while Indian imports of Russian crude doubled from February to March, rising further to hit 2.3 million barrels daily earlier this month, according to Kpler data. This is an all-time high.

Tyler Durden Fri, 05/15/2026 - 20:05

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"Energy Is The Issue" - NANO Nuclear Highlights Reactor And Enrichment Opportunity

NANO Nuclear's founder and chairman Jay Yu was on Fox Business to discuss the company's opportunity with data centers, space, and uranium enrichment. 

Yu took the time to review their recent deal with Supermicro. The combination of AI and nuclear is being seen on multiple fronts across both industries. In the past few weeks we've also seen Terrestrial Energy partnering with Riot, and Oklo collaborating with Nvidia. 

Everyone understands the demand for power coming from the AI data center build out is insatiable. We've covered previous comments from Jensen Huang, the CEO of NVIDIA, remarking on how energy is the real bottleneck. He was more recently quoted discussing the scale of the current energy gap with future demand…

🚨 JENSEN HUANG: “The amount of energy that we need for computing is probably 1,000x more than we currently have.” pic.twitter.com/3F2DJ48Ebq

— Chief Nerd (@TheChiefNerd) May 14, 2026

The key requirement of the power, though, is stability above all else. Data centers require nearly 100% uptime, something that cannot be promised by renewable energy sources like wind and solar. The power source of the highest capacity factor, a measure of how often they put out their nameplate power, is required to meet the demand of the ongoing energy revolution. 

A massive expansion of nuclear generating capacity is the current goal, but what good is a fancy new car if there's no gas stations to fill it?

Yu's other business, LIS Technologies, is working to commercialize a novel laser enrichment method to provide the uranium necessary to fuel the incoming fleet of reactors. The laser technology promises to be significantly cheaper to operate as well as less capital intensive to deploy. 

The company is currently working to finance and construct their first major commercial facility in Tennessee. The facility can provide millions of Separative Work Units, the unit of measure for enrichment capacity, that could eventually displace America's need to import Russian uranium. 
 

Tyler Durden Fri, 05/15/2026 - 19:40

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There was one big idea missing from Gavin Newsom’s revised budget: income tax cuts. California politicians assume that the government should spend as much as the economy will bear. Newsom’s budget grew almost 10% from last year, twice the rate of economic growth. In other states, especially Republican ones, governors promise to cut taxes while...