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Texas Oil Executives Are Frustrated at Trump for Crushing Crude Prices

(Bloomberg) -- The angry mutterings at the Permian Basin Petroleum Association’s “Spring Swing” golf tournament this week weren’t all about missed putts or lost balls. The Texas oilmen on the fairways had a more serious concern: The president they helped elect was tanking oil prices.The market rout sparked by President Donald Trump’s trade war is touching almost every part of the economy. But there are probably few industries feeling more aggrieved right now than US shale oil. Over the last 15 y

Pakistan turns to bitcoin miners, AI data centers to use surplus power

Pakistan plans to allocate part of its surplus electricity to Bitcoin mining and AI data centres, the head of Pakistan's Crypto Council and adviser to the finance minister said on Wednesday, adding it had held talks with several mining firms. Pakistan's energy sector is grappling with challenges, including high electricity tariffs and surplus generation capacity. The rapid expansion of solar energy has further complicated the landscape, as more consumers turn to alternative energy sources to mitigate high costs.

Short sellers mint $159 billion profit in 6 days as stocks sink

(Bloomberg) -- Short sellers, or traders who wager on share price declines, are up $159 billion in paper profits over just six trading days after an escalating trade war sent the US stock market plummeting down more than 10%. The biggest market drawdown since 2022 on President Donald Trump’s pronouncement of sweeping worldwide tariffs made bets against an exchange traded fund tracking the S&P 500 Index, known as SPY, the most profitable short bet in that timeframe, according to data from S3 Part