Author

admin

Browsing

Statistics Canada released November’s consumer price index (CPI) data on Monday (December 15). The data showed all-items inflation rose 2.2 percent compared to November 2024 and 0.1 percent on a monthly basis compared to October.

One contributor to the rise was a 4.7 percent year-over-year increase in grocery prices, higher than the 3.4 percent annual increase in October and the biggest since the 4.7 percent increase in December 2023.

On the other hand, gasoline prices decreased 7.8 percent year-over-year and natural gas decreased by 16.5 percent, although both drops were slightly lower than their respective 9.4 percent and 17 percent declines recorded in October.

StatsCan also released October’s monthly mineral production survey on Friday (December 19). The data reported that mineral production increased across a wide range of metals month-on-month, with iron concentrate the only one seeing a slight decline.

Gold production increased to 18,470 kilograms compared to 16,978 kilograms in September. Meanwhile, copper production rose to 41.34 million kilograms from 36.23 million kilograms, and silver production jumped to 31,522 kilograms from 28,384 kilograms.

Shipments, however, decreased broadly in October. Gold shipments fell to 15,563 kilograms from 19,025 kilograms, and silver shipments sank to 31,502 kilograms from 33,296. Copper shipments fell more considerably to 36.22 million kilograms from 44.04 million kilograms.

Also this week, the Canadian Government approved the merger between mining giants Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK) and Anglo American (LSE:AAL,OTCQX:NGLOY) on Monday.

The move clears a major regulatory hurdle for the C$70 billion deal. Federal Industry Minister Mélanie Joly said that as part of the approval process, the companies agreed to spend C$4.5 billion in Canada over five years and employ 4,000 Canadian workers.

Once the deal is finalized, the combined company will be called Anglo-Teck and will be headquartered in Vancouver, making it the largest company in British Columbia’s history.

For more on what’s moving markets this week, check out our top market news round-up.

Markets and commodities react

Canadian equity markets were mixed this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was little changed, gaining just 0.14 percent over the week to close Friday at 31,755.77, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) fared a little better, rising 1.04 percent to 977.98.

On the other hand, the CSE Composite Index (CSE:CSECOMP) fell 8.37 percent to close at 168.68 after rising significantly last week.

The gold price continued an upward trend following last week’s rate cut from the US Federal Reserve. It gained 1.36 percent on the week to reach US$4,338.24 per ounce on Friday at 4 p.m. EST.

Meanwhile, the silver price continued to set new records with another substantial weekly gain of 5.75 percent, reaching a new high of US$67.45 per ounce in morning trading on Friday before slipping to end the day at US$67.18.

In base metals, the COMEX copper price ended the week up 0.73 percent at US$5.50 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) fell 1.47 percent to end Friday at 542.19.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Pacific Empire Minerals (TSXV:PEMC)

Weekly gain: 200 percent
Market cap: C$30.36 million
Share price: C$0.15

Pacific Empire is a gold and copper exploration company focused on its flagship Trident property in central British Columbia, Canada.

Trident consists of a land package covering 6,618 hectares within the Quesnel Terrane and has a history of exploration dating back to its discovery in 1969. The property hosts porphyry mineralization of copper, gold, and silver, with historic drill results at the site including one 102 meter interval grading 0.59 percent copper and 0.24 grams per metric ton (g/t) gold.

Shares in the company gained significantly this week after it released assay results from the upper portion of the first hole of its 2025 winter diamond drill program.

Results from the hole started at a depth of 9 meters and hosted continuous copper-gold mineralization to a depth of 192 meters.

The broad 183 meter interval returned average grades of 0.77 percent copper, 0.51 g/t gold and 3.4 g/t silver over 183 meters. Within that were intervals of 71 meters grading 1.06 percent copper, 0.83 g/t gold and 4.6 g/t silver, and 14.8 meters grading 1.23 percent copper, 0.75 g/t gold and 5.5 g/t silver.

Pacific Empire said the result was the most substantial copper-gold mineralization recorded at Trident to date and that it advances the geological understanding and exploration model for what could be significant porphyry system.

Assays for the lower portion of the first hole and the remaining five holes drilled as part of the campaign are pending.

2. US Copper (TSXV:USCU)

Weekly gain: 72.22 percent
Market cap: C$17.75 million
Share price: C$0.155

US Copper is an exploration company working to advance its Moonlight-Superior project in Northeast California, United States.

The project covers approximately 13 square miles of patented and unpatented federal mining claims in the Lights Creek Copper District, near the Nevada border.

A preliminary economic assessment released on January 6 demonstrated a post-tax net present value of US$1.08 billion with an internal rate of return of 23 percent and a payback period of 5.3 years, assuming a copper price of US$4.15 per pound.

The included mineral resource estimate shows a total indicated resource of 2.5 billion pounds of copper, 21.7 million ounces of silver and 140,042 ounces of gold from 402.83 million metric tons of ore with a grade of 0.31 percent copper, 1.85 parts per million (ppm) silver and 0.012 ppm gold. The majority is hosted at its Moonlight and Superior deposits.

US Copper has not released news since October 14 when it announced the closing of a non-brokered private placement for gross proceeds of C$750,000.

3. Euromax Resources (TSXV:EOX)

Weekly gain: 66.67 percent
Market cap: C$18.87 million
Share price: C$0.025

Euromax Resources is a development and exploration company working to advance its Ilovica-Shtuka copper project in the southeast of North Macedonia, Europe.

The advanced stage project is composed of two concession agreements that cover 17.1 square kilometers and hosts mineralized deposits of copper and gold.

The most recent feasibility study for the Ilovica-Shtuka project, released in 2016, demonstrated a sulphide mineral resource with measured and indicated quantities of 2.6 million ounces of gold and 1.2 billion pounds of copper, with additional oxide quantities of 280,000 ounces of gold.

Shares in Euromax gained this week after it announced on Monday its intention to issue 122.1 million common shares through a non-brokered private placement, generating proceeds of C$3.97 million.

4. Lode Gold Resources (TSXV:LOD)

Weekly gain: 54.67 percent
Market cap: C$10.61 million
Share price: C$0.325

Lode Gold Resources is an exploration company with projects located in Canada and the United States, including its Fremont gold project in California, US, which hosts a past-producing high-grade gold mine.

The mine sits on 3,351 acres in Mariposa County, which has been mined since the start of the California gold rush in the 1840s.

On March 5, Lode Gold released a technical report for the property, which included an updated mineral resource estimate demonstrating an indicated resource of 120,000 ounces with an average grade of 4.13 g/t gold from 910,000 metric tons of ore, with an additional inferred resource of 1.9 million ounces with a grade of 3.96 g/t from 8.53 million metric tons of ore.

The most recent news from the project came on December 9, when Lode announced that it had entered into a letter of intent with an unnamed mining company to begin work advancing the Freemont project toward production.

As part of the deal, the parties agreed to a 45 day standstill period during which Lode will work to raise capital and repay outstanding debts.

Additionally, Lode announced on December 12 that it was appointing David Swetlow as Lode’s new CFO. He has previously worked as CFO for Lode’s subsidiary, Gold Orogen, which was created to spin off its Yukon and New Brunswick properties.

The spin-off was announced in July 2024 as part of Lode’s restructuring bid and would include its Golden Culvert, Win, and McIntyre Brook properties.

5. Canadian Chrome (CSE:CACR)

Weekly gain: 50 percent
Market cap: C$24.71 million
Share price: C$0.015

Formerly KWG Resources, Canadian Chrome is a chromite and base metals exploration company focused on moving forward at its Ring of Fire assets in Northern Ontario, Canada. It does business as the Canadian Chrome Company.

The firm’s properties consist of the Fancamp and Big Daddy claims, along with the Mcfaulds Lake, Koper Lake and Fishtrap Lake projects. All are located within a 40 kilometer radius, and according to the company are home to feeder magma chambers containing chromite, nickel and copper deposits.

Canadian Chrome is currently working with local First Nations to improve transportation to the region by developing road and rail links. The company announced on November 7 that it had signed a memorandum of agreement with AtkinsRéalis Canada in its capacity as a contractor representing the Marten Falls and Webequie First Nations.

The agreement will allow AtkinsRéalis temporary access rights over some mineral exploration claims in support of work permits for an environmental assessment for the design, construction and operation of a multi-use, all-season road between the proposed Marten Falls community access road and the proposed Webequie supply road.

Once completed, the link will provide improved access to communities and mining companies in the region.

On September 11, Canadian Chrome signed an additional agreement with AtkinsRéalis that will provide the firm access rights to parts of the claims for 13 borehole locations for geotechnical investigations and aggregate source testing.

The most recent news from the company came on December 11, when it set the terms of a C$25 million non-brokered private placement originally proposed on August 26. Changes to the original terms were made following the inclusion of chromium as a critical mineral in the Canadian federal budget announced on November 4, which allows investments in chromium projects to qualify for additional tax credits.

The new terms state that, with every 10 flow-through shares subscribed, five flow-through share purchase warrants will be issued, each entitling the holder to purchase one additional flow-through share for C$2.50 at any time within one year.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

On Friday, I debated cannabis legalization at AmericaFest 2025, the annual convention for Turning Point USA, the group led by Charlie Kirk until his assassination in September. Here’s my opening argument:

My opponent this afternoon is Katherine Mangu-Ward, the editor-in-chief of Reason magazine and a staunch libertarian. Katherine’s pinned post on X calls for the legalization of heroin, so at least she is consistent.

I too am consistent. I believe the liberal and libertarian effort to destigmatize, normalize, legalize, and even promote the use of ‘drugs of abuse‘ has been a catastrophe for the United States. 

We are a global outlier on this issue. We have reaped nothing but pain for a generation of ideologically driven decisions to make drugs more accessible to both young people and adults.

By ‘drugs of abuse,’ I mean drugs that produce a subjective high that makes people want to keep using them and to use more over time. The precise biochemical mechanism and whether the high is stimulating, sedating, or intoxicating matters less than the fact of its temporary pleasure. Of course those drugs include cannabis. Yes, alcohol is a drug of abuse too. So are medically prescribed drugs, from Oxycontin to Adderall to Valium.

Unfortunately, Thursday’s decision by President Trump to ‘reschedule’ cannabis and make it more accessible will only worsen this self-imposed crisis and lead to more drug-driven misery and death.

Let’s be clear about cannabis. Cannabis — particularly cannabis today, which is very high in THC, the chemical that intoxicates users — is very much a drug of abuse.

When they have been tested in rigorously controlled trials — and they have been tested over and over — cannabis and THC have shown almost no medical benefits. But they have many side effects, to both brain and body.

Normalizing drug use normalizes drug use. Pretending drugs of abuse are medicine normalizes it even faster.

Cannabis can cause psychotic episodes where users lose touch with reality and become paranoid that friends or family members want to hurt them. It can sometimes cause those users to become violent in response. It can cause episodes of prolonged vomiting that send users to emergency rooms. It is associated with traffic accidents and deaths. It raises the risk of heart attacks in users dramatically. And, yes, it is a gateway drug.

Overall, cannabis is probably at least as dangerous as alcohol. It is less obviously physically harmful, for despite its cardiovascular risks, it does not cause direct overdose. But it is more psychiatrically harmful.

Now we come to the simple, facile libertarian argument: but alcohol is legal! Cannabis should be legal too. In fact, all drugs should be legal — and again, I do appreciate the fact Katherine was honest enough to say that out loud.

My drug, my body, my choice.

Sounds good. Except that to use drugs is inevitably to risk consequences both to yourself and to other people that cannot be foreseen. Drugs follow their own logic.

Some drugs — especially opioids — frequently kill their users from overdose. Many drugs cause users to behave in antisocial ways — to become violent, or simply to stop caring about the possible consequences of their actions. And all drugs of abuse have addictive potential.

The libertarian solution to this problem is to ignore it, to say that users are responsible for their own behavior. If they become addicted, too bad for them.

This theory sounds nice. But it ignores reality.

The children and families around users and addicts inevitably bear the brunt of their antisocial behavior, and the rest of us cannot ignore its public harms. Even when it does not lead to full-bore addiction, drug use that is more than casual almost inevitably worsens the problems users have turned to it to solve. It is the most selfish of acts. It divorces users from the lives of people around them — and their own lives.

A religious person might call that behavior immoral. But one doesn’t have to be religious to recognize it has what economists call externalities. The user feels the subjective pleasure, while everyone else faces the potential consequences.

As a society, we seem to have become desensitized to the potentially horrific consequences of drug use.

We should not be. We must not be.

We — as individuals, and as a nation — must do everything possible to remind people of them. We must discourage it at every turn. That means stigmatizing drugs of abuse, not legitimizing them, not building industries that profit from heavy use and addiction.

It means driving up the price — in dollars and potential legal consequences — of drug use to discourage people who have not used from doing so, rather than making drugs cheap, openly advertised, and easily accessible.

It means understanding that every drug is a gateway drug, not just biochemically but societally. Normalizing drug use normalizes drug use. Pretending drugs of abuse are medicine normalizes it even faster.

Legalization is a red herring. Alcohol is legal, but we arrest people for alcohol consumption all the time — for underage use, for public drinking or intoxication, for drinking and driving. We will continue to arrest people for using cannabis too, even if the drug is fully legalized at the state and federal level.

But whatever the legal status of cannabis, we are not going to put every — or even many — cannabis users in jail. We don’t now, and we didn’t a generation ago. 

The question is whether we want encourage use: of cannabis, of Adderall, of alcohol, of OxyCONTIN, of fentanyl, of cocaine, of every legal and illegal drug. Legalizing cannabis is another step on that path to ruination.

I hope we do not take it.

Editor’s note: This column first appeared on the author’s Substack, ‘Unreported Truths.’

This post appeared first on FOX NEWS

A photo of former President Bill Clinton topless in a dimly lit hot tub with his arms folded behind his head was included in a massive trove of Jeffrey Epstein files released Friday by the Department of Justice (DOJ).

In another photo, Clinton is seen wading in a pool next to Ghislaine Maxwell and a woman whose face was redacted by authorities.

Subsequent photos showed Clinton posing with American pop stars Michael Jackson and Diana Ross and seated on a plane next to a female wearing an American flag pin whose face was redacted.

He was also seen smiling arm-in-arm with the late disgraced financier and convicted sex offender Epstein at what appeared to be a dinner party, wearing a festive shirt.

The locations where the photos were taken were not included, and no context was provided.

White House deputy press secretary Abigail Jackson took to social media Friday afternoon to comment on the never-before-seen photos of the former POTUS.

‘Here is Bill Clinton in a hot tub next to someone whose identity has been redacted. Per the Epstein Files Transparency Act, DOJ was specifically instructed only to redact the faces of victims and/or minors,’ Jackson wrote. ‘Time for the media to start asking real questions.’

Clinton’s deputy chief of staff, Angel Ureña, accused the White House of trying to ‘hide [things] forever,’ in a statement on X, implying President Donald Trump continued a relationship with Epstein after his crimes were revealed.

‘The White House hasn’t been hiding these files for months only to dump them late on a Friday to protect Bill Clinton. This is about shielding themselves from what comes next, or from what they’ll try and hide forever,’ Ureña wrote in the post. ‘So they can release as many grainy 20-plus-year-old photos as they want, but this isn’t about Bill Clinton. Never has, never will be. Even Susie Wiles said Donald Trump was wrong about Bill Clinton.

‘There are two types of people here,’ he continued. ‘The first group knew nothing and cut Epstein off before his crimes came to light. The second group continued relationships with him after. We’re in the first. No amount of stalling by people in the second group will change that. Everyone, especially MAGA, expects answers, not scapegoats.’

The DOJ dumped thousands of documents and hundreds of photos on its website Friday, all supposedly obtained by authorities during investigations into Epstein and Maxwell’s sex trafficking cases. 

Other photos showed interior and exterior views of Epstein’s properties, personal photos of Epstein with various people and heavily redacted potential victim exhibits.

While more than a dozen politically known individuals appeared in the files, Clinton and other notable figures’ inclusion in the files does not necessarily imply wrongdoing.

The document drop was triggered by the Epstein Files Transparency Act, which required the DOJ to make the files public 30 days from its Nov. 19 signing by President Donald Trump.

Some files may be withheld by the DOJ if disclosure would jeopardize an ongoing investigation or prosecution, to safeguard victims’ privacy or to avoid publishing sensitive child sexual abuse material.

Ross’ communications teams did not immediately respond to Fox News Digital’s requests for comment.

This post appeared first on FOX NEWS

The Department of Justice began releasing final documents related to convicted sex offender Jeffrey Epstein Friday, with a massive trove of documents that predominantly shows photos and heavily redacted materials categorized into four different sections. 

The DOJ on Friday afternoon released four different data sets of thousands of photos, New York grand jury material and evidence related to investigations surrounding Epstein. The documents and photos were released on the DOJ’s official website. 

Epstein was a well-connected financier who rubbed elbows with those at the highest echelons of government and private industry. He was convicted of sex trafficking minors in 2008 and served just more than one year of incarceration, which also included a controversial work-release arrangement under a plea agreement. 

He was arrested again in 2019 on charges of sex trafficking before he was found dead in his Manhattan jail cell from suicide that same year, officials reported. 

DATA SET ONE: 

The first data set shows thousands of photos of the interiors and exteriors of Epstein’s properties, including in New York and on his private island, Little St. James. 

DATA SET TWO: 

The second data set released shows Epstein in personal photos with high-profile individuals, including former President Bill Clinton. The photos in the second data set show Epstein shirtless while sitting on a sofa, standing near a helicopter and many photos of him on boats.  

A photo in the set included Clinton shirtless in a hot tub. 

When asked about the photo, Clinton spokesperson Angel Urena directed Fox Digital to a statement he posted to X in response to the Epstein drop. 

‘The White House hasn’t been hiding these files for months only to dump them late on a Friday to protect Bill Clinton,’ he wrote. ‘This is about shielding themselves from what comes next, or from what they’ll try and hide forever. So they can release as many grainy 20-plus-year-old photos as they want, but this isn’t about Bill Clinton. Never has, never will be. Even Susie Wiles said Donald Trump was wrong about Bill Clinton.’

Urena said there are ‘two types of people’ involved in the Epstein scandal: those who did not know of Epstein’s crimes and cut him out of their lives upon his conviction and a second group of people who ‘continued relationships with him after’ his crimes came to light.

‘We’re in the first. No amount of stalling by people in the second group will change that,’ the Clinton spokesman continued. ‘Everyone, especially MAGA, expects answers, not scapegoats.’ 

DATA SET THREE:

The third data set released by the Department of Justice included heavily redacted photos of potential victims, documents from Epstein’s 2019 grand jury records that were also heavily redacted, and potential victim exhibits. 

DATA SET FOUR: 

The fourth data set in the document drop mostly showed evidence and exhibits from the investigations into Epstein, including documents dated 2005 and 2006, when the Palm Beach, Florida, Police and FBI began investigating Epstein over tips of potential sex trafficking. 

President Donald Trump signed a bipartisan law in November that required the Department of Justice to release all ‘unclassified records, documents, communications and investigative materials’ within 30 days of Trump’s signature.  

Deputy Attorney General Todd Blanche said Friday morning during an appearance on Fox News that the Department was set to ‘release several hundred thousand documents today,’ while adding that the DOJ anticipates releasing ‘more documents over the next couple of weeks.’

The Epstein Files Transparency Act specifically directs the Justice Department to release all unclassified records and investigative materials related to Epstein and his longtime partner Ghislaine Maxwell, as well as files related to individuals who were referenced in Epstein previous legal cases, details surrounding trafficking allegations, internal DOJ communications as they relate to Epstein and any details surrounding the investigation into his death. 

This post appeared first on FOX NEWS

It’s not just Minnesota.

The past few weeks have made clear that fraudsters stole billions of dollars from states’ welfare programs, much of it from Medicaid. It also appears that Democratic politicians tolerated the heist for their own political benefit. 

Yet politicians in virtually every state have let waste, fraud and abuse spread like wildfire in Medicaid, putting taxpayers on the hook for an estimated $2 trillion in improper spending over the next decade alone. 

Thankfully, President Donald Trump and congressional Republicans have given states a reason to clean up this mess and spare taxpayers that pain.

In a new paper, I show how Democrats have turned Medicaid into one of the most fraud-ridden programs in America — and how Republicans are fixing it. While Medicaid has long been plagued with improper spending, Democrats supercharged this crisis in the Obama years.

ObamaCare added tens of millions of able-bodied adults to the program, yet that population is much more likely to be ineligible.

The Obama administration refused to rigorously check eligibility, and the Biden administration adopted the same policy, deliberately hiding an explosion in waste, fraud and abuse. Meanwhile, states refused to police their Medicaid programs, confident that the federal government would look the other way and cover the tab.

The first Trump administration found that 27.4% of federal Medicaid spending was improper in 2020, or about $120 billion at the time. The administration also found that four out of every five improper payments were the result of eligibility errors. This money flowed to people who shouldn’t have been on Medicaid and therefore diverted money and care away from its intended recipients. Five years later, it’s highly likely that at least one in five Medicaid dollars is still wrongly spent.

Call this what it is — an assault on taxpayers. It’s also a clear violation of federal law. States are legally required to reimburse the federal government for Washington’s share of Medicaid payments if their improper payment rates are above 3%, a far cry from the 27.4% rate in 2020.

The Trump administration is once again conducting eligibility checks, but even without that info, it’s all but certain that every state already exceeds the 3% threshold. The only reason they’ve avoided a budget blowout is by receiving so-called ‘good faith waivers’ from Washington. Essentially, states have promised that they’ll tackle fraud and abuse, even when they have no intention of doing so.

Republicans called time on this rigged game in the law President Trump signed July 4. They effectively eliminated good-faith waivers and told states that, starting in 2030, they will be forced to cover the federal share of any improper payments above 3%. While five years may seem like an eternity, it’s an acknowledgment that states have a mountain to climb to bring their error rates into the low single digits. 

Consider Ohio. In 2019, it had an improper payment rate of nearly 45%, giving the Buckeye State the worst record in the nation for waste, fraud and abuse. Based on its most recent spending levels, Ohio would be on the hook for $9.7 billion, equal to roughly 15% of its current state budget. Illinois, with a 35.4% rate, would pay $6.4 billion, a tough ask given the state’s famous fiscal woes. Even states with lower improper payment rates, like Pennsylvania, Michigan and Missouri, would still be looking at annual costs of more than $1 or $2 billion.

Without reform, I estimate that states will pay a combined $100 billion in penalties beginning in 2030. Their only hope to avoid this fiscal pain is to immediately start rooting out waste, fraud and abuse. In the state legislative sessions that start in January, lawmakers should focus on several key reforms.

First, stop allowing Medicaid recipients to self-attest their income, address and other personal information. Using the honor system invites abuse.

Second, review recipients’ eligibility at least twice a year for able-bodied adults and once a year for everyone else, thereby removing ineligible individuals early and often.

Third, cross-check Medicaid data with easily accessible information such as wage, hiring and tax records; returned mail and changes of address; out-of-state food stamp transactions; and prison and death records. These basic good government measures can quickly identify people wrongly receiving taxpayer money.

Waiting to tackle Medicaid fraud is the most foolish thing states can do. So is hoping that Democrats get their wish and successfully repeal Republicans’ Medicaid reforms. That won’t happen while Trump is president. And if states wait to see the outcome of the 2028 election, they may be disappointed. At that point, they’d face an even steeper hill with barely a year to get their act together.

There’s no avoiding the reality that Democrats broke Medicaid — in Minnesota and everywhere else — or that Republicans have given states an urgent mandate to finally root out the waste, fraud and abuse.

 Michael Greibrok is a Senior Research Fellow at the Foundation for Government Accountability.

This post appeared first on FOX NEWS

Russian President Vladimir Putin said Friday that Moscow would refrain from launching new attacks on other nations provided his country is treated ‘with respect.’

The Kremlin made the remarks during his annual televised press conference in Moscow as concerns persist among European nations that Russia poses a security threat, Agence France-Presse (AFP) reported.

‘Will there be new special military operations? There will be no operations if you treat us with respect, if you observe our interests, just as we have constantly tried to observe yours,’ Putin said.

Putin uses the phrase ‘special military operation’ to describe Russia’s offensive in Ukraine, according to AFP.

He added there would be no further Russian invasions ‘if you don’t cheat us like you cheated us with NATO’s eastward expansion,’ according to the BBC.

The Russian leader also claimed he was ‘ready and willing’ to end the war in Ukraine ‘peacefully,’ though he offered few details suggesting a willingness to compromise, the BBC reported.

The yearly news conference, which typically runs at least four hours, features questions from reporters and members of the public across Russia. 

More than 2.5 million questions were submitted for this year’s event, which focused heavily on the war in Ukraine, Reuters reported.

Putin also noted during the event that the nation’s ‘troops are advancing’ and expressed confidence that Russia will accomplish its objectives through military means if Ukraine does not assent to Russia’s terms during peace talks, according to The Associated Press.

‘Our troops are advancing all across the line of contact, faster in some areas or slower in some others, but the enemy is retreating in all sectors,’ Putin declared.

As the war drags on, the European Union has just agreed to provide Ukraine with a loan of over $105 billion.

Fox News Digital’s Alex Nitzberg contributed to this report.

This post appeared first on FOX NEWS

The oil and gas market was punctuated with volatility in 2025.

Oil prices softened as supply outpaced demand and inventories built. Brent and West Texas Intermediate (WTI) crude slipped in late 2025, with Brent dipping below US$60 per barrel and WTI hovering at US$55.

Production increases from non-OPEC producers — including record US output — and higher OPEC+ quotas have contributed to a notable supply overhang, pressuring crude toward four year lows.

Starting the year above US$70, both Brent and WTI prices have now seen steep declines of more than 20 percent amid signs of weaker demand in major economies like China and elevated global stocks.

Meanwhile, the natural gas market saw price shifts driven by weather and storage dynamics.

Prices started the year at US$3.64 per million British thermal units and slipped to a seasonal low of US$2.74 in August. Values peaked at US$5.31 on December 5, and have since retreated to the US$3.94 level.

The US Energy Information Administration (EIA) raised its outlook for late 2025 and early 2026 gas prices after an early cold snap bolstered heating demand, even as forecasts have moderated Henry Hub projections for 2025 to 2026.

Oil market battles persistent headwinds

2025 saw oil prices fluctuate between highs of US$81.86 (Brent) and US$78.99 (WTI) and lows of US$59.41 and US$55.56, respectively, as the energy market served as a barometer of global political and trade tensions.

“Throughout the year, prices have continued the downtrend they began in April (2024) as OPEC+ continued to hike output and China’s economy continued to struggle under the weight of a flailing property sector, downbeat consumer confidence, overindebted local governments and flagging external demand,” he added.

While the oil market isn’t new to volatility, this year proved different as US President Donald Trump’s on-again, off-again tariffs infused global uncertainty into the energy market.

“We can see that Trump’s ‘Liberation Day’ tariffs pushed prices down to a level from which they’ve not recovered from, barring a spike in June as a result of the 12 day Iran-Israel war,” said Cunningham.

“Since then, Brent crude oil prices have continued to fall as OPEC+ caught the market off guard with its aggressive output hikes, which were designed to win back market share from non-cartel producers.’

Demand growth, underinvestment reshape oil outlook

Meanwhile, OPEC is approaching full production capacity, with Saudi Arabia being the main exception.

“Even though people are talking about lots of supply, demand is still growing,” Schachter said, noting that global oil demand rose roughly 1.3 million barrels per day in 2025 and is expected to increase by about 1.2 million in 2026.

New supply additions are limited, he explained, mentioning Guyana’s offshore discoveries by ExxonMobil (NYSE:XOM), some output from Brazil and minor contributions from Canada.

“Most basins are tired, and not enough money is being spent to bring on production,” Schachter said, predicting that global inventory drawdowns in 2026 will support higher prices.

Despite lack of investment at the exploration level, FocusEconomics panelists are forecasting a rise in both oil and gas supply in 2026 fueled by output growth at existing operations.

Cunningham pointed to organizations like the EIA and International Energy Agency (IEA), which “hiked their forecasts in recent months in response to OPEC+ increasing output unexpectedly fast and the recent surge in demand for US LNG.”

“The real question is not if oil and gas production will increase, but by how much,” said Cunningham.

A ramp up could be curtailed by geopolitical disruptions, he went on to note.

“Recent frictions between members of the OPEC+ cartel will persist, with Russia likely to favor lower production levels given US sanctions and countries like Saudi Arabia and the United Arab Emirates eager to push production higher given their excess capacity and desire to win back market share from non-OPEC+ producers,” he said.

“Moreover, countries like Kazakhstan and Iraq continue to overshoot their quotas, and in late 2023 Angola left the cartel due to disputes over its allowed production level.”

Transport and petrochemicals driving oil demand

Global oil demand is expected to rise in 2026, driven primarily by transportation fuels and petrochemical feedstocks.

Gasoline is projected to lead the increase, supported by recovering air travel and road mobility, while diesel and other products also contribute. Non-OECD regions, particularly China and India, will account for most of the growth, with expanding petrochemical capacity in major economies boosting crude-derived feedstock demand.

Overall, transport and industrial activity remain the key engines behind the expected rise in oil consumption.

“Our panelists see world oil production rising 1.1 percent in 2026 as non-OPEC+ countries such as Guyana and the US hike output,” said FocusEconomics’ Cunningham.

LNG expansion fuels gas growth

Similar to the trajectory for oil, natural gas demand is expected to rise in 2026 as global consumption rebounds and LNG exports expand sharply. “The IEA (is) estimating growth at around 2 percent with consumption at an all-time high on higher demand in the industrial and electricity sectors,” said Cunningham.

Rising LNG supply — with new export capacity coming online in the US, Canada and Qatar — is projected to support stronger import growth, particularly in Asia, where demand is expected to rebound after a 2025 slowdown.

“Asia is hungry for LNG; the IEA estimates the region’s natural gas demand will rise over 4 percent in 2026, with LNG imports up by 10 percent,” the expert said. Increased use of natural gas in power generation and industrial sectors will also contribute to growth, helping push global gas demand toward a new peak next year.

“Of course, these forecasts could change quickly if the world economy or the oil and gas sector is subject to further shocks, which is why we recommend regularly checking the latest forecasts that are available,” Cunningham added.

Further ahead, Schachter argued that rising global power needs will underpin long-term demand for natural gas, particularly as alternatives struggle to scale. Aging power grids are another constraint. Much of the world’s electricity infrastructure has not been meaningfully upgraded, and expanding capacity will require major investment in transmission — driving demand for copper, steel and aluminum alongside new generation.

Against that backdrop, Schachter sees LNG as central to meeting near- and medium-term power needs.

“The demand for LNG is the story,” he said, adding that natural gas is increasingly viewed not as a temporary transition fuel, but as “the most efficient, from a climate and environmental point of view.”

He also highlighted Canada’s advantage as producers invest heavily in emissions-reduction technologies, including methane mitigation. That positioning could make Canadian LNG more attractive to import-dependent nations such as Japan and South Korea.

While new supply from Qatar and the US will add capacity, Schachter cautioned that LNG development is rarely linear, pointing to Canada’s decades-long path to its first operating export terminal. Despite inevitable delays and short-term imbalances, he said the long-term outlook remains clear: “The industry’s fundamentals are very, very positive.”

Cunningham also pointed to increased output from the US and Qatar as key areas to watch in 2026.

“The big Qatari and US LNG projects will help natural gas prices converge globally — our Consensus Forecast is for the percentage difference between US gas prices (which tend to be lower due to huge domestic production) and those in Asia and Europe to ease to the lowest level since 2020, the year the pandemic sent gas demand plummeting,” said Cunningham, adding, “In short, record US LNG shipments will send up prices at home and lower them abroad.”

Cunningham went on to explain that unlike oil, in the natural gas market there tends to be more price divergence between regions as natural gas is harder to transport over large distances. Oil can be poured into a barrel and shipped, whereas natural gas first needs to be liquified if it’s to be sent overseas. Greater LNG capacity will help bridge this gap.

Oil and gas price forecast for 2026

Schachter expects WTI to average over US$70 in 2026, with Brent around US$73 to US$74.

He anticipates some volatility early in the new year, saying that in Q1 he expects trading to be “still sloppy between US$56 and US$66,” before prices rise in Q2 to US$62 to US$72. From there, he sees prices reaching US$68 to US$78 in the year’s third quarter as inventories tighten and market fundamentals assert themselves.

“People think we’re going back to US$80 today. US$58 oil — it ain’t going to US$80. But when the industry is in rational supply and demand, prices climb, especially when inventories draw down quickly,” Schachter said, recalling the 2008 peak in oil prices near US$147 during extreme supply shortages.

Looking at the year ahead, FocusEconomics expects the trends of 2025 to continue.

“Average Brent crude oil prices will ease further to a post-pandemic low, while US natural gas prices will increase to the highest average level since 2014 barring 2022’s Russia-Ukraine-war-driven spike,” said Cunningham.

“OPEC+ is set to continue raising output — after a pause in Q1 2026 — and the global economy should slow as the boost from export front-loading ahead of US tariff wanes.”

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com