Two students, including the suspected shooter, are dead following a shooting Tuesday at a junior high school in southern Philippines, officials said.
THE NEWS
“Generates A Number Of Risks”: UBS Warns German NatGas Storage Levels Alarmingly Below Seasonal Norms
“Generates A Number Of Risks”: UBS Warns German NatGas Storage Levels Alarmingly Below Seasonal Norms
Following up on our “Winter Is Coming: Europe Faces Twin Diesel And NatGas Crunch” note earlier this month, which focused on Europe as a whole, UBS analysts focused on Germany’s natural gas inventories Monday morning and warned that levels are alarmingly low for this time of year, raising the risk of elevated prices and a renewed supply crunch if the Northern Hemisphere experiences a severe winter.
Simon Penn, a London-based UBS macro strategist, wrote earlier today that Germany’s NatGas storage is just 48% full, compared with 65% a year ago and 75% during the 2022 energy crisis.
We would go a step further: inventories are now at their lowest level for this time of year in 17 years.
Penn added more color:
Economist Felix Huefner sees Germany hitting 65% in November, compared to the government target of 80% and the EU’s target of 90%. This generates a number of risks.
A surge in demand and hence gas prices if Germany attempts to achieve its targets; increased pressure on Germany’s fiscal position if the government needs to use Trading Hub Europe (THE) to replenish stocks; pressures elsewhere in Europe as German demand crowds out other national buyers; Germany’s regasification facilities are limited which means even if it can find LNG supply, it can’t necessarily convert that to stored gas. Hence, a gas shortage could ensue late winter anyway.
The ECB estimates that a 10% increase in wholesale gas prices adds 0.6pp to Eurozone headline inflation. In addition, all that is likely to place downward pressure on German GDP, which is already threatened by the consequences of a near-dry Rhine river. There is now a mere 10cm of navigable depth at the Kaub pinch point – in February it was 400cm and a year ago 200cm. Cargo barges are down to 10-20% of capacity to stay afloat.
Circling back to our Aug. 7 “Winter Is Coming” note, we warned that it is not just a global diesel crunch keeping Goldman’s Samantha Dart up at night. NatGas is another mounting concern.
Continued disruption through the Strait of Hormuz, compounded by historically low Rhine River levels, is slowing Europe’s effort to rebuild NatGas stockpiles. That risk is now materializing in the inventory data.
Here is where Europe stands in terms of NatGas storage:
At this point, Europeans had better hope that a strong El Niño would produce relatively mild weather. Otherwise, the continent could face a cold and extremely expensive winter.
Tyler Durden
Tue, 08/18/2026 – 02:45
Trump says Kim Jong Un has responded to his request for talks
U.S. President Donald Trump said Monday that North Korean leader Kim Jong Un has responded to his overtures for talks, citing his “very good relationship” with Kim.
Europe’s Looming Existential Crisis
Europe’s Looming Existential Crisis
Authored by Kenneth Timmerman via American Greatness,
Americans pay little attention to Europe, other than to sneer at the Euro-elites and bemoan the fecklessness of European leaders.
I am guilty of both sins. Mea culpa.
But I am also aware of the coming existential crisis facing Europe as a whole and the European Union quite specifically.
It comes in several flavors, and all of them are bitter.
First is the shock and embarrassment posed by the influx of 72,000 North African Muslim wannabe migrants into Ceuta, one of two tiny Spanish enclaves in Morocco, just miles away from the Spanish mainland near Gibraltar.
The inability—or unwillingness—of the Spanish authorities to repulse them has provoked a Europe-wide reaction, prompting Italy’s center-right prime minister, Giorgia Meloni, to impose passport controls on visitors from Spain for the first time since the Schengen accords of 1995 created a “borderless” European space.
Spain retaliated last week, imposing controls of its own on visitors from Italy.
This week Meloni teamed up with her center-left Danish counterpart, Mette Frederiksen, to jointly condemn uncontrolled migration.
“We are both proud of Europe’s Christian cultural heritage and want to protect it,” they said on Monday. “We expect those who come to our countries and choose to make Europe their home to respect our values and not seek to impose ways of life on us that we do not share.”
Meloni drafted a letter to European Commission President Ursula von der Leyen condemning lax EU immigration policies, which was joined by Frederiksen and 21 EU leaders.
Immigration has been a long-simmering issue since German Chancellor Angela Merkel opened the floodgates to hundreds of thousands of Syrian “refugees” in 2015. The Ceuta stampede is just the latest chapter.
Fabrice Leggeri, a Frenchman who was executive director of the EU Border and Coast Guard Agency from 2015 to 2022, fought tooth and nail to standardize EU immigration procedures and to transform his bureaucratic backwater into a real law enforcement agency.
He was stymied by the European Commissioner in charge of Home Affairs, Ylva Johansson of Sweden. “Don’t worry,” she said. “You don’t need guns and uniforms because migrants come in search of love. Europe is an aging continent, so whether you like it or not, it is your job to welcome migrants.”
Next comes EU enlargement.
Standing at the gates to join the EU’s 27 member states are tiny Montenegro and Albania. Then comes Iceland, should its citizens approve a resumption of EU membership talks in an upcoming referendum.
While only Albania, which is predominantly Muslim, is controversial, their accession could open the door to membership talks with Ukraine and Serbia.
Ukraine would require a peace deal with Russia, which would be less likely should Ukraine be rewarded with EU membership. Serbia, a Russian ally and gateway to the Russian economy, poses its own problems.
And finally, there is the whole question of democracy and freedom.
EU citizens rail incessantly over the often ridiculous regulations enacted by the unelected bureaucrats of the European Commission that affect their daily lives.
Many of these are motivated by Europe’s powerful “Green” parties and lobbyists. Others stem from the left-wing, anti-capitalist, anti-farmer bias of the Eurocrats.
One case in point: the reintroduction of wolves onto agricultural lands where the predators had been eradicated generations ago. Today, the wolf packs are protected as endangered species even as they devastate sheep herds from Sweden to southern Italy.
I know farmers who brave the authorities and secretly hunt down wolves endangering their livelihoods. They operate as a veritable underground resistance movement, communicating using coded texts, always watchful of the police.
It’s a running joke that a young Swedish girl could get gang-raped by Syrian immigrants, and the police wouldn’t lift a finger. But if a farmer got caught killing a wolf, they would exhaust every investigative and prosecutorial resource to put him away for years.
European Commission President Ursula von der Leyen is certainly aware of the dissenters among the European Parliament, mainly from the populist or center-right parties.
But instead of accommodating them, she is attempting to reinforce the powers of the unelected Commission by doing away with the existing rule of unanimity when it comes to foreign policy decisions.
For years, Hungarian leader Viktor Orbán vetoed European Commission policies that invariably criticized Israel, supported the Palestinians, or criticized the United States.
His election loss only emboldened Ms. von der Leyen, who frequently clashed with Orbán personally and in public.
Now she wants to allow a simple majority of member states to approve foreign policy dictates, a shift that would essentially create the “tyranny of the majority” America’s founders warned about 250 years ago.
Former Belgian Prime Minister and European Council President Charles Michel is scathing in his criticism of von der Leyen. “Today, the Commission is trying to take control. That’s not in line with the [EU] treaty,” he told a Belgian magazine in April. “There is super authoritarian governance.”
Much but not all of those new powers came during the COVID years and in response to the war in Ukraine. But the anti-democratic gene runs deep among the Eurocrats.
Former Czech President and Prime Minister Václav Klaus lived through decades of Soviet Communism imposed on his country after World War II. Already in 2009, he was warning about the lack of democratic institutions within the EU.
“The present decision-making system of the European Union is different from a classic parliamentary democracy, tested and proven by history… Here, only one single alternative is being promoted, and those who dare think about a different option are labelled as enemies of European integration.
“Not so long ago, in our part of Europe we lived in a political system that permitted no alternatives and therefore also no parliamentary opposition. It was through this experience that we learned the bitter lesson that with no opposition, there is no freedom. That is why political alternatives must exist.”
Europe and the EU are at a crossroads.
Down one road, Europe will become increasingly authoritarian and increasingly centralized, while its founding cultures will be increasingly marginalized and demeaned in favor of Muslim immigration and multiculturalism. These were the faults that led to Brexit, Britain’s withdrawal from the EU.
Down another road, Europe will return to its roots, celebrate its diverse cultures and its Christian and Jewish heritage, and honor the wishes of its member states and their people.
Count me skeptical, but I don’t see that democratic alternative on the horizon, at least not yet.
Tyler Durden
Tue, 08/18/2026 – 02:00
DOJ opens probe into prestigious college over alleged discrimination favoring minority students
The Department of Justice launched an investigation on Monday into the College of William & Mary to determine whether certain scholarships and student benefits at the Virginia-based public research institution include unlawful race-based criteria, adding to the Trump administration’s targeting of educational institutions across the country.The DOJ’s Civil Rights Division announced it was opening a compliance review for the college’s potential violations of Title VI of the Civil Rights Act of 1964, which prohibits discrimination on the basis of race, color or national origin in programs or activities receiving federal financial assistance.”Awarding scholarships or offering coveted opportunities to students based on the color of their skin is illegal and offends the guarantees of our color-blind Constitution,” Assistant Attorney General for Civil Rights Harmeet Dhillon said in a statement.”We will find out if scholarships or other student benefits at William & Mary favor applicants of certain races. The Department will not turn a blind eye to race-based preferences, however they are packaged or portrayed by universities,” she continued.DOJ OPENS PROBE INTO HARVARD’S FINANCIAL AID FOR ALLEGED DISCRIMINATION AGAINST AMERICAN STUDENTSThe “W&M Scholars” program for first-year undergraduate students includes a scholarship that covers at least the full cost of in-state tuition and fees.While the scholarship is not limited to any particular race, the DOJ said in a notice letter to the institution that applicants with an “interest in diverse people and perspectives” receive “top consideration.” William & Mary’s website lists that consideration alongside academic ability and potential and first-generation or limited-income status.The W&M School of Education’s need-based Martha L. Muguira Fellowship for graduate students gives a “preference” to Hispanic or Latino women, who have financial need, according to the DOJ. The W&M School of Education’s doctoral-level Holmes Scholars program was described by the DOJ as giving “future education leaders of color” mentorship, access to job fairs and position announcements, as well as national-level professional development benefits, including policy and advocacy training and opportunities to present their research. William & Mary’s current website describes Holmes Scholars as students “from traditionally under-represented backgrounds.”The DOJ said the W&M Law School offers the Lemon Legal Scholars Program. The DOJ said W&M Law offers up to five full scholarships covering tuition and fees that appear to be exclusively for HBCU graduates. William & Mary’s current website, however, says the law school “will award at least five full scholarships” to HBCU graduates admitted to its J.D. program.Recipients of this scholarship also receive networking opportunities, one-on-one academic advising regarding course load and bar exam preparation, as well as access to special events with W&M Law School faculty, senior administrators and alumni.The law school also advertises the “Reaching Back Scholarship,” which is a need-based scholarship that has a “preference” for HBCU graduates or those “who contribute to the diversity” of W&M Law School, the DOJ said.Some programs at the institution were established to deal with the legacy of slavery and racial discrimination at William & Mary.The DOJ urged William & Mary to hand over certain documents and information by September 8 as part of the compliance review. The department said it wants to secure compliance by “informal voluntary means” but may take formal action such as proceedings that could result in the termination of federal financial assistance if it deems such a move necessary.DOJ SUES UCLA OVER ALLEGED ‘JUDENREIN’ CONDITIONS DURING ANTI-ISRAEL ENCAMPMENTResponding to the federal probe, William & Mary said in a statement that it is “committed to nondiscriminatory learning environments across our campus and complying with all state and federal laws.”The DOJ’s Civil Rights Division said it had not reached any conclusions about the subject matter of the investigation.This is just the latest effort by the Trump administration to target educational institutions across the nation for issues such as race-based admissions and scholarships, diversity, equity and inclusion programs and alleged antisemitism on campus.
Pentagon probes 30 U.S. academic institutions over foreign ties
The Pentagon directed 30 U.S. academic institutions to probe their collaborations with “foreign entities of concern” or lose federal funding.
Jeanie Buss Opposes Reported Sale of the Lakers, Says Siblings Can’t Without Her Approval
Jeanie Buss reportedly opposes the sale of the Lakers, adding that her siblings cannot sell their stake without her approval.
The post Jeanie Buss Opposes Reported Sale of the Lakers, Says Siblings Can’t Without Her Approval appeared first on Breitbart.
John Cornyn Staffer Joins Democrat James Talarico’s Campaign
A longtime aide to Sen. John Cornyn (R-TX) has joined Democrat James Talarico’s Senate campaign as he tries to defeat Republican nominee Ken Paxton in Texas.
The post John Cornyn Staffer Joins Democrat James Talarico’s Campaign appeared first on Breitbart.
WNBA Admits Security in Atlanta Was Wrong for Asking Mother and Daughter to Cover ‘XX-XY Athletics’ Shirt
The WNBA criticized security at the Atlanta Gateway Center Arena telling a mother and daughter to cover their “XX-XY Athletics” shirt.
The post WNBA Admits Security in Atlanta Was Wrong for Asking Mother and Daughter to Cover ‘XX-XY Athletics’ Shirt appeared first on Breitbart.
Supreme Court Denies Trump Request to Reconsider Appeal of E. Jean Carroll Lawsuit
The Supreme Court denied a request from President Donald Trump to reconsider his appeal of writer E. Jean Carroll’s $5 million lawsuit on Monday.
The post Supreme Court Denies Trump Request to Reconsider Appeal of E. Jean Carroll Lawsuit appeared first on Breitbart.