June 16, 2026

THIS IS THE WRONG QUESTION: How Quickly Can the Strait of Hormuz Get Back Up and Running?

“The backlog of stranded vessels and the need for crew changes and rest mean a realistic return to normal shipping patterns is weeks, if not months, away,” said Stephen Cotton, general secretary of the International Transport Workers’ Federation. He added that the deal wouldn’t be the end. “It is, at best, the beginning,” Cotton said.

Coordinating the order of transits will take time. It is unclear whether Iran would continue to control the strait, and whether tolls would be charged, analysts said.

​“It’ll all come down to the actual ship count out, and then, more importantly, to what Iran actually allows,” said Rory Johnston, founder of oil research firm Commodity Context. “Even if it is over, then we’ll start the monthslong process of renormalizing traffic.”

The correct question is, how long will it take for the Arab Gulf states to make the Gulf much less relevant?

“Iran’s neighbors wanted a speedy end to fighting because they weren’t ready to handle the redistributed shipping load, but now they’re going to work to make sure that they’re not vulnerable to disruption in case the IRGC does this again.”

Posted at 8:35 am by Stephen Green

MEHDI HASAN WOULD BE LAUGHABLE IF HE WEREN’T SO EVIL:

Posted at 8:30 am by Glenn Reynolds

THANK YOU, PEOPLE WHO ACTUALLY MAKE THE WORLD BETTER:

Posted at 8:00 am by Glenn Reynolds

WE’VE REACHED “THE LAMENTATIONS OF THEIR WOMEN” STAGE:

Posted at 7:48 am by Stephen Green

HIGHER EDUCATION BUBBLE UPDATE, LEGAL EDUCATION EDITION: A Majority of Law Professors Say Legal Education Is Heading in the Wrong Direction.. “Conservative law faculty experience a sharply different climate than their liberal colleagues: 61% of conservative faculty say their law school is hostile toward people with their political beliefs, compared to 11% of liberal faculty, and three times as many hide their political beliefs to keep their job (52% versus 17%).”

Posted at 7:34 am by Glenn Reynolds

BIG MONEY: SpaceX IPO raised $10bn more than thought.

Elon Musk’s rocket and Artificial Intellgience (AI) company pulled off the biggest initial public offering (IPO) in history when it joined New York’s Nasdaq stock exchange last week.

The listing had raised $75bn from investors, which Musk told employees will be spent funding a “significant growth phase”.

But the banks which backed the IPO exercised a so-called “greenshoe” clause, which let them purchase an extra $10bn of SpaceX shares.

The extra $10bn raised, revealed in a statement by SpaceX announcing the completion of the listing, would by itself rank as one of the biggest IPOs in history.

It came thanks to a financial mechanism known as an overallotment option, more commonly referred to as a “greenshoe” option.

When a company goes public in a highly anticipated listing, investor demand can outstrip the initial supply of shares.

To prevent wild price swings and ensure a smoother launch, a greenshoe agreement lets the banks handling the listing sell more shares than originally planned.

In SpaceX’s case, appetite was exceptionally high.

Here’s maybe one small reason why, courtesy of a CNBC interview from Friday:

Getting Starship into service before the end of the year would be a Very Big Deal, and Shotwell’s ETAs tend to be a bit more reliable than Elon’s.

Posted at 7:33 am by Stephen Green

MONEY… FINDS A WAY:

Of course, we might not be more than one Democrat administration from Europe’s woes.

Posted at 7:17 am by Stephen Green

HE’S NOT WRONG:

Posted at 7:00 am by Glenn Reynolds

FROM HOLLY CHISM:  Bite Sized (Liquid Diet Chronicles Book 1.

Meg Turner has been a vampire for twenty years. Her favorite food is rapists. Which is how she met Andi Donahue, her new best friend/ girl Friday.

And then the nightmares start. And the bodies start showing up–bled out and raped. Just like Meg was. They don’t have a whole lot of time to stop the killer before he strikes again, and only one way to stop the killer.

But how can Andi help Meg stop a killer she can’t even see?

Posted at 7:00 am by Sarah Hoyt