Joe Carroll

Houston bureau chief for @BloombergNews.

[Joe Carroll @jcarrollhtx]

Kevin 'Mr. Wonderful' O'Leary's data center would have been almost three times the size of Manhattan — until the Shark Tank star agreed to drastically scale it back under pressure from lawmakers. https://t.co/tnVno4jGDF

[Javier Blas @JavierBlas]

VIDEO COLUMN 🎥: The war in Iran is squeezing airlines, but your European summer holiday flights ✈️ should still be fine.

After an initial panic, the refining oil industry is making enough jet fuel ⛽️ to offset the loss of Middle East supply.

@opinion

[Joe Carroll @jcarrollhtx]

Nice work here by @wkubz

[Joe Carroll @jcarrollhtx]

Two major suppliers of the key ingredient for high-end motor oil have curbed some deliveries to a bare minimum as the Iran war continues to throw a niche corner of the crude market into disarray https://t.co/NZ6Ec6Y8Q7

[Evan Smith @evanasmith]

🚨 Texas now has 4 of the 10 largest cities in America — more than any other state — and 5 of the 12 largest. In the last year, Fort Worth passed Jacksonville and Austin passed San Jose https://t.co/ijLyp4LQSt #txlege #tx2026

[Joe Carroll @jcarrollhtx]

Trafigura and Phillips 66 are the leading recipients of US government waivers allowing the use of foreign-flagged tankers to ship oil, fuel and other cargoes between domestic ports https://t.co/bhbVowdgHZ

[Gaurab Chakrabarti @Gaurab]

You cannot buy a new gas turbine until 2030. Order books at GE, Siemens, and Mitsubishi stretch to 2029. Turbine prices have nearly tripled since 2019. Every AI data center needs power and every gas plant needs a turbine. And every turbine has one part that bottlenecks the entire industry: The blade. It has to survive in gas 500°C above the melting point of the metal it's made from and spin at up to 20,000 RPM under 10,000 g of centrifugal force. Each blade is grown as a single crystal of nickel superalloy, pulled through a vacuum furnace at 3 mm per minute. A set of blades costs $600,000 and takes 90 weeks to grow. The same metallurgy powers modern jet engines. Only 3 companies on Earth can build one. China spent $42 billion trying to catch up. They bought a Russian fighter engine, took it apart, and copied every part. Their copy ran 30 hours between overhauls versus 400 for the original. Modern Western engines run 4,000. You can reverse engineer the shape of a turbine blade. You cannot reverse engineer 60 years of metallurgy.

[Joe Carroll @jcarrollhtx]

The US is seeking forfeiture of two Iran-linked oil tankers seized by naval forces enforcing a blockade on shipping by the Islamic Republic https://t.co/fhnBds8h7G

[Lisa Abramowicz @lisaabramowicz1]

US economic data keeps surprising to the upside, while European data keeps surprising to the downside. That gap just keeps growing, according to Bloomberg economic surprise indexes.

[Joe Carroll @jcarrollhtx]

Houston Drops Anti-ICE Rule to Salvage World Cup Security Funds https://t.co/15kKhpy77d

[Joe Carroll @jcarrollhtx]

Tankers and cargo ships are facing three-and-a-half day delays to cross the Panama Canal as the Iran war sparks a surge in traffic, prompting one vessel to plunk down an extra $4 million to jump to the front of the line. https://t.co/ptzXM7ZvV1

[Javier Blas @JavierBlas]

The physical Brent market remains very, very strong, even if Dated Brent has come off from its all-time high reached on Tuesday (down around $15). Physical premia for prompt oil (or as my colleague @AlaricN calls it: “ASAP barrels”) are sky high, >$20 above Dated Brent.

[June Goh @JuneGoh_Sparta]

Why is jet fuel the most stressed barrel right now?

1⃣Jet fuel has very specialized tank storage requirements. Therefore there is not much stored, unlike many other products like diesel and gasoline.

2⃣You can only produce mainstream jet fuel from the refinery aside from a mere ~1% sustainable aviation fuel globally

3⃣Asian refineries are reducing runs as their crude is stuck at the Straits of Hormuz. AG refineries have also been hit by the attacks.

4⃣With oil production also shutting in, longer run cuts are expected.

4⃣Lack of storage + Lower supply from refining runs = Recipe for disaster

Travel is going to get a whole lot more expensive.

#oott

[Joe Carroll @jcarrollhtx]

Venezuela and the US are scrutinizing dozens of confidential oil contracts signed during the reign of ousted strongman Nicolas Maduro, according to people familiar with the situation https://t.co/ZJMSqRVAXz

[Joe Carroll @jcarrollhtx]

Fears of a global oil glut that had been expected to crater crude prices are fading fast amid resilient energy demand, according to Permian Basin driller Diamondback https://t.co/r1wguYao35 by @DavidWethe

[Joe Carroll @jcarrollhtx]

The historic volatility witnessed in the US natural gas futures over the past week caught out some money managers who use algorithmically driven trading strategies. https://t.co/j04lPymyvW by @julianhast

[Storm Chaser Houston @StormChaserHTX]

SNOW in Conroe Texas
@mattlanza explains “Lake effect snow this evening off lakes Conroe and Houston as cold north winds flow over the relatively warmer waters of the lakes.

@abc13houston @JeffLindner1
@TxStormChasers @NWSHouston
#houwx #htx #TXWX #hounews

[Dan Pickering @pickeringenergy]

Hat tip to Bloomberg's @DavidWethe for the Harold Hamm interview last Friday. I'm convinced 2026 is the Battle of the Titans (OPEC+ vs. US shale) to see who is the first to reduce production in a dramatically oversupplied market. Maybe shale is blinking first? Thread. #EFT #OOTT

[Joe Carroll @jcarrollhtx]

The informal fleet of crude tankers that operated under the radar in Nicolas Maduro’s Venezuela is beginning to emerge from the shadows after the strongman’s capture lifts the veil of how the South American oil producer sought to evade US sanctions. https://t.co/vPIlhYfHsM

[Laura Nahmias @nahmias]

Two potentially major protests for @NYCMayor one week into his mayoralty.