President Trump announced a collective investment effort between defense tech firm Anduril and the U.S. Navy worth an estimated $6.6 billion. $3.7 billion comes from the private sector by defense technology firm Anduril in a new shipyard at Sparrows Point, Maryland, alongside $2.9 billion in Navy contract funding. The facility will build next-generation submarines including autonomous underwater vessels.

When you really think about this effort closely, putting this kind of investment into U.S. shipbuilding in Baltimore is a genuine swing for the fences to reestablish northeast industrial manufacturing.  I give President Trump a lot of credit for taking this big a leap of faith in the Baltimore region.

The Trump administration has announced new or revitalized shipbuilding in Galveston TX, Houma LA, Brownsville TX and now Sparrows Point MD.  While the southern regions will likely be capable of transferring a solid work ethic into a successful America-First business model, trying to reindustrialize Baltimore away from a dependency mindset (built on a foundation of corruption) to a skilled jobs work ethic, is a very bold move.

There will certainly be job opportunities for people outside the immediate Baltimore area who are willing to travel for high-paying good quality work.  Anduril will also need some form of trade-school, apprenticeship or vocational training if the manufacturing hub is to be generationally changing.   This really is a major move to put money behind reindustrialization in one of the key areas where it was destroyed by leftism, globalism and corruption.  WATCH:

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Susan Kokinda delivers a great contextual overview for the IRGC letter to the world asking everyone, anyone, to help protect them from President Trump’s strategic operation against Iran.

Kokinda opens with the 26-page open letter Iran’s Islamic Revolutionary Guard Corps addressed to the American people weeks before the midterms, which the State Department dismissed as desperate and the Daily Wire read as a call to vote Democrat. She argues the letter tells a bigger story than anyone is reporting: it names the CIA, Israel and the military-industrial complex, but never once the British. After President Trump’s “easy way or the hard way” remark on Iran, and his statement at the U.N. that the election won’t influence his Iran policy, the episode revisits the 1953 overthrow of Mohammad Mosaddegh, whom the letter calls an “Americanophile,” after he nationalized the Anglo-Iranian Oil Company, today’s BP, and cites National Security Archive documents showing the British Foreign Office approached the Truman administration in late 1952 to propose a coup.

Her review then then turns to a Foreign Affairs newsletter citing the 1956 Suez crisis as a parallel to the war with Iran, President Eisenhower’s refusal to back Britain and France at Suez, and Gamal Abdel Nasser’s 1955 Foreign Affairs article on how the British ran Egypt. It closes with Richard Haass on Morning Joe, the morning after Trump’s U.N. speech, calling it “the end of 80 years of American foreign policy,” Chatham House director Bronwen Maddox on Europe having to defend itself against the U.S., and Mark Carney telling the New York Times he spent the past year preparing for the “extreme tail risk” of U.S. military action against Canada.  WATCH:

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Margaret Brennan asks Energy Secretary Chris Wright to tell her about U.S. troop and military deployments to the Middle East, and whether President Trump is going to “escalate” military operations in the region.  Yeah, she asked about that; as if the Energy Secretary would even talk about it on television if he knew.

Unfortunately, this remains the outlook of U.S. media. Energy Secretary Chris Wright told “Face the Nation with Margaret Brennan” that President Trump was “well aware of the risks to energy flows” before launching the Iran war, but he said the president said, “the world cannot sustain a nuclear-armed Iran, and I’m not going to do it.”  WATCH:

[Transcript] – MARGARET BRENNAN: Good morning, and welcome to Face the Nation. We begin with one of the Trump administration officials tasked with working to lower those high gas and oil prices, Energy Secretary Chris Wright. Good morning to you.

SECRETARY OF ENERGY CHRIS WRIGHT: Good morning, Margaret.

MARGARET BRENNAN: So, it’s good to have you here. You said this past week that Americans can expect lower gasoline prices and diesel prices by election day. The Wall Street Journal editorial board has a piece outlining that the campaign to squeeze around financially is working, but they can still knock out significant Gulf energy infrastructure. They could be planning an October surprise before the U.S. midterms. We are still seeing Iranian attacks on ships now. I mean, how can you be so confident prices are headed down?

SEC. WRIGHT: Well, because we’ve got increasing supplies coming out of the Strait of Hormuz and they’ve continued to rise over the last months, over the last recent weeks. We’ve got U.S. gasoline production today at record high. We have demand for gasoline, as we come out of the summer driving scene, starting to go down. Similar stories with diesel. Diesel’s mostly been infected by the Russia-Ukraine war and also by China’s decision not to export diesel or gasoline into the marketplace. And of course, we’re living with two refineries that were recently closed, large refineries in California that Gavin Newsom forced the closure of. And frankly, 15 years of Democrat policies that have been energy subtraction, trying to close coal plants, close refineries, and shrink our capacity. Which means when you get in crisis, we’re just less resilient than we should be.

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I don’t want to focus too much on this, because there are multiple angles still at work.  However, against the backdrop of the non-coincidental coincidences that followed the August 2025 Alaska Summit, the Lukoil story looks strategically interesting.

The New York Times is looking at Lukoil from the perspective of President Trump organizing financial gains for people close to his administration, specifically Witkoff and Kusher.  {GO DEEP}

That aspect is nonsense, total nonsense; however, if you pull back and look at the background story without the Trump derangement overlay, there’s a potential here for something very good to come out of it.

As the story is told, Russian President Vladimir Putin has inquired about the potential for the U.S. to remove sanctions against Lukoil, a quasi-private energy company based out of Russia.  Before, getting too weedy about it, remind yourself of the statements that surfaced during the Trump-Putin summit in Alaska, August, 2025.

You might remember that both the U.S and Russia spoke of strategic partnerships surrounding the energy sector.  Obviously, this makes sense when we consider the “west” is actually fractured on the topic of energy.  There are two competing interests that overlap in the financial side of the issue, the ‘trillions at stake’ aspect.

On one side you have the “climate change” team, those who are fully invested (literally) in the financial mechanisms of the climate change, green new deal, build back better talking points.  The Green Energy team in the west.  The Paris Climate Treaty and carbon-trading proponents et al.

On the other side you have the pragmatic energy team in the west.  These are the Trump-minded and aligned western perspectives that look at oil, natural gas (LNG), clean coal and nuclear technology.  These are the “all the above” aligned voices in the more pragmatic view of low-cost energy production and development.

In the middle, between both sides of the fracture, are the banking and finance systems.  This is the BIG MONEY play, with the Climate Change team supported by banking ideology inside the city of London, while the Carbon Use team is constantly having to assemble finance and insurance from outside the banking control mechanisms.

The Climate Change team have support based on ideology within the finance system.  However, the Carbon Use team have the advantage of low-price outputs, global dependency and actual profits as leverage.  This is a fight essentially inside the larger energy sector, and we are all very familiar with it because it has been happening for decades.

Canadian Prime Minister Mark Carney is currently the main tool deployed by the Climate Change team on behalf of the London finance system.  Carney’s main opponent is U.S. President Donald Trump.

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Barbara Boyd opens with diesel: as Ukraine’s strikes on Russian refineries tighten the world’s supply, President Trump threatened to halt U.S. diesel exports unless Europe released its emergency stocks, and the G7 agreed to release 100 million barrels. She presents it as the opening move of a 35-day economic offensive running into the midterms. The week of action includes Trump’s visit to the Peterbilt truck plant in Denton, Texas, where employee Sarah Renshaw credited tariffs for 1,000 new jobs; his Oklahoma rally; a White House luncheon with tech leaders on superintelligence; what the White House calls the largest steel plant ever built in the United States, coming to Iowa; Vice President Vance at the groundbreaking of Saronic’s Port Alpha shipyard in Brownsville, Texas; and South Korea’s plans for an Alaska LNG pipeline, a 6-gigawatt power plant in Texas and eight nuclear reactors.

On affordability, the episode walks through price increases under Biden (energy up 33% from January 2021 to January 2025), Vice President Vance on the inflation crisis he says the administration inherited, refining capacity, housing regulation and immigration, Secretary Kennedy at the MAHA Summit on AI giving every patient a better-informed second opinion, and the White House fraud task force’s crackdown on Obamacare enrollments. It closes with Michael Shellenberger’s account of the student riots in France, French intelligence tying the movement to Jean-Luc Mélenchon’s France Unbowed (LFI), and NASA Administrator Jared Isaacman on a new golden age of space exploration. WATCH:

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Canadian Prime Minister Mark Carney has recently promoted an expansive LNG pipeline deal to center the domestic infrastructure development around the concept of “Buy Canadian.”  However, when questioned about the actual construction of the proposal, Carney now admits the developers will determine what resources will be used – and it will not be Canadian product.

The unfortunate reason is not complicated.  Canada does not have the industrial capacity to make the heavy components for the LNG expansion pipeline because Canada does not have the ability.

[SOURCE]

CALGARY — LNG Canada is planning to use Chinese steel in major components of its $33-billion second-phase expansion despite Ottawa’s promises that nationally significant projects would help drive Prime Minister Mark Carney’s Buy Canadian policy.

The joint venture says Canada lacks the specialized fabrication facilities needed to manufacture the massive modules required for its expansion and plans to buy more components from state-owned China Offshore Oil Engineering Co. Ltd. (COOEC), which manufactured modules for the project’s first phase. (read more)

I would remind readers this inability to manufacture industrial goods is exactly what former Canadian Prime Minister Justin Trudeau outlined to President Trump in December 2025 in Mar-a-Lago, when President Trump challenged Trudeau to stop importing Chinese steel and aluminum.  Canada’s clean energy policy blocks the country from creating heavy industrial components.  WATCH:

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U.S Trade Representative (USTR) Jamieson Greer, is attending the G20 Trade Summit in Milwaukee, Wisconsin, and appars on Bloomberg News to outline some of the current issues and events being discussed during the assembly.

Greer notes the U.S. energy team is talking to the European energy ministers about using part of their diesel reserve supply to supplement the global refining shortage that might relieve some of the pricing pressure on the energy sector.

Additionally, Greer is questioned about the dumping issues of steel and aluminum that is part of the larger G20 trade discussion.  Greer notes the EU needs to take some action to address the issues on their end, which is part of the ongoing talks at the plenary session.  As to the discussions with Canada and the USMCA, Greer notes the bilateral trade negotiator, Dominic LeBlanc from Canada is not present at these discussions, so no forward activity is noted.  WATCH:

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When asked about a statement this week where Stelco Holdings Inc. announced they were laying off 500 workers from their steel plant in Hamilton, Ontario, immediately Canadian Prime Minister Mark Carney blamed the United States.

He’s lying. It’s ridiculous. However, that’s all Carney can do at this point.

In reality it is (1) Canadian energy, climate and manufacturing policy; in combination with (2) the specific decision to allow the import of cheap steel from China; in combination with the decision to (3) rebuke U.S requests to stop purchasing that Chinese steel; that has driven out Canadian steel manufacturing.

(1) Canada carbon emission policy changes steel manufacturing. (2) Canada admits to lying about the import of Chinese Steel. (3) Canadian steel manufacturers warn Canada of pending exit. Mark Carney denied all three points. The receipts are in the links right there.

WATCH Prime Minister Carney blatantly lie on camera:

This announcement by Stelco happened on the exact same day that President Trump announced a new $18billion investment in U.S. steel manufacturing in Iowa. {SOURCE}

In fact, in a world full of irony, during a media segment discussing the closure of the Canadian steel plant, CBC cut away to live feed of President Trump who was making the Iowa steel plant announcement.  The timing was rather remarkable.

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I was quite confused by this distinctly European approach until I had dinner with a Chinese actuary working in the auto warranty insurance industry.

Europe asks China to voluntarily limit exports (mostly autos) to the European Union.  Europe doesn’t want to get China angry with them about this issue.  However, China is sending massive numbers of EVs into Europe.  Europe is losing its auto business. I couldn’t figure out why the EU didn’t take an aggressive/confrontational position.

Then I was reminded.  Europe cannot force Beijing through a trade action (tariffs, ban, EU limit etc.) because Beijing might stop selling them EV carbon credits.  If the European automakers cannot purchase Chinese EV carbon credit certificates, the fines levied by Brussels against gasoline powered autos will destroy the EU auto business.

Think about this for a while, then read the EU media report:

EuroNews –  Brussels is pressing Beijing to accept quotas on Chinese exports as negotiations enter their final stretch, with the EU threatening trade measures unless tangible progress is made by next month.

Brussels and Beijing are fighting over quotas that would limit Chinese imports to the EU market, as the Europeans seek to rebalance their trade relationship with China, Euronews has learned.

Both started intense negotiations last June over EU and Chinese access to each other’s markets, with an October deadline set by the European Commission to reach “tanglible” results. However, China is pushing hard against the EU’s attempts to protect its market.

According to one person familiar with the matter, the Commission, which is negotiating on behalf of the 27 EU countries on trade issues, wants China to accept quotas on specific products. However, it is unclear how China would accept and respect such quotas.

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The iron ore from Minnesota combined with a new steel works in Iowa.  GOOD STUFF!

Today, President Donald J. Trump announced one of the largest steel plants in American history: a $15 billion Mesabi Metallics mill in Iowa. The project will create 1,750 permanent Iowa jobs, support up to 6,000 construction jobs, and is projected to add $95 billion to the U.S. economy over the next decade.

The mill will produce 7.5 million tons of steel per year in its first phase, rising to about ten million tons, using iron ore from Mesabi Metallics’ newly opened Minnesota mine — the first new iron ore mine in the United States in 50 years. {MORE}

The Question and Answer session begins at 22:40. WATCH:

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