A Russian Il-96 aircraft, belonging to the Rossiya Special Flight Squadron responsible for transporting high-ranking officials, traveled from Moscow to Washington D.C. in late December. Russian officials described the flight as carrying a diplomatic rotation, downplaying its significance. This visit occurred amidst severely strained U.S.-Russia relations, heightened by the ongoing war in Ukraine and speculation surrounding President-elect Trump’s potential dealings with Vladimir Putin. The flight’s purpose remains unclear, though it adds to the ongoing tension between the two nations.
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Russia’s gas transit through Ukraine will cease on January 1st, 2024, marking the end of a long-standing energy relationship. This closure, coinciding with the expiration of a transit deal, has minimal expected market impact due to Europe’s diversification of gas sources following the Ukraine war. While the EU’s reduced reliance on Russian gas caused economic challenges, including inflation and a cost-of-living crisis, alternative suppliers have mitigated potential disruptions. The pipeline’s closure carries significant geopolitical weight, reflecting Russia’s diminished influence in the European energy market and Gazprom’s substantial financial losses.
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In a move finalized just weeks before the change in presidential administrations, the Department of the Interior proposed a two-year ban on oil and gas leasing across 264,000 acres of Nevada’s Ruby Mountains. This follows a prior rejection of a similar proposal under the Trump administration due to overwhelming public opposition and geological surveys indicating minimal oil potential. The Biden administration cites preservation of the area’s recreational value and wildlife habitat as justification. The proposal now enters a 90-day public comment period under the incoming Trump administration, which could potentially challenge the ban.
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Drugmakers are set to raise prices on over 250 medications in the US starting January 1st. This news has unsurprisingly sparked widespread outrage and frustration, especially given the timing – just as many are facing economic challenges. The increases, it’s important to note, apply to list prices. These are the prices before rebates and discounts are factored in, meaning pharmacy benefit managers and other intermediaries will likely still receive significant concessions while consumers bear the brunt of the increase.
This raises immediate questions about fairness and accessibility. Many have voiced concerns that those who rely on these medications for chronic or rare conditions will struggle to afford the higher costs, potentially facing life-altering consequences.… Continue reading
John Q. Hosedrinker 
Matt Underwood