Is it time to tax oil windfalls?: The year’s numerous oil price spikes, mostly related to the stop-and-start war in Iran, have put a lot of money in oil companies’ pockets.
And according to a new NPR report, there are growing calls for a tax on windfall oil profits. As noted by the Guardian, the 100 largest oil companies in the world “banked more than $30m every hour in unearned profit in the first month of the US-Israeli war in Iran.”
Generic Oil Tanker Image. Image Credit: Creative Commons.
The war in Ukraine has taken a toll on Russia. The country has suffered nearly a million and a half casualties. Attacks on its gas and oil infrastructure have caused widespread gas shortages in 56 of Russia’s 83 regions. The banking industry is in the midst of a crisis.
The economy is teetering on the edge, but not according to the Kremlin.
T-90M from Russia. Image Credit: Creative Commons.
Kremlin spokesman Dmitry Peskov said on Thursday that Russia’s economy is stable.
“The difficulties our economy is going through are well known to everyone.
RTX’s Raytheon has announced the successful demonstration of its Next Generation Short Range Interceptor (NGSRI), a new missile system intended to replace the Stinger surface-to-air missile for the US Army.
Nearly every day brings new headlines about successful drone strikes by Ukraine against Russia. Now, Ukraine has reportedly carried out a strike on the Russian capital of Moscow.
According to ABC News, which cited Moscow Mayor Sergey Sobyanin, at least 200 drones were launched towards Moscow overnight.
Lancet Drone from Russia. Image Credit: Creative Commons.
“More than 200 drones were flying towards the Moscow region. Most of them were neutralized by air defense systems at a distance,” the mayor said in a Telegram post cited by ABC.
Japan’s Acquisition, Technology & Logistics Agency (ATLA) has selected Terra Drone’s locally developed interceptor drone as a “test article” for its Interceptor Drone Rapid Acquisition Programme.
Veterans who served from the mid-1980s up to today will likely be familiar with the iconic 9mm Beretta M9. Despite the formal adoption of the SIG Sauer M17/M18 handgun as the official U.S. military sidearm in 2017, the M9 remains in some active duty arms rooms and, as of 2026, service members are still qualifying with the weapon.
Also Read: America’s last combat revolver served from World War I to Vietnam
Although the M9 has proven itself to be extremely robust and reliable, the platform has its drawbacks.
Iran calls the Strait of Hormuz a “red line”: The United States and Iran have continued to trade shots in their resumed conflict. And on Thursday, the Iranian side made a threat about the Strait of Hormuz, on which the U.S. has imposed a blockade.
According to NPR, the U.S. and Iran have now once again been firing at each other for six days, essentially putting an end to the ceasefire that was agreed to in the “memorandum of understanding” in mid-June.
U.S. Air Force Senior Airman Marydith Stidham, a 125th Aircraft Maintenance Squadron crew chief, marshals Capt.
Iran Says The Strait Of Hormuz Is “An Unbreakable Red Line”: The Iranian IRGC warned that the Strait of Hormuz was an “unbreakable red line” after the US escalated air strikes against it.
The IRGC added that it would destroy “all infrastructure throughout the region” if President Trump acted on this threat to attack Iranian bridges and civilian infrastructure.
Beijing Is Preparing for Putin’s Death, Engaging with His Potential Successors: The PRC was once highly dependent on Russia for most of what made it a world power. But in 2026, not only does the Chinese Communist Party (CCP) General Secretary Xi Jinping feel no need to ingratiate himself with Russian President Vladimir Putin, but he and the other top leaders in Beijing are openly planning for what they will be demanding from Moscow once former KGB Lt. Col. Putin is dead or is deposed – or both.
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