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Saturday, March 21, 2026

What Is It With The Fickle Europeans?

 by Victor Davis Hanson

What is it with the fickle Europeans? I know that they have different interests than ours, but we’re both Western entities. You’d think that we’d be more collaborative on the effort to disarm and denuclearize Iran. But a lot of strange things are happening.

The traditional use of the Diego Garcia critical airbase in the Indian Ocean, run by the British, but often leased to us and allowed us to have a very valuable base for our long-range bombers. The British initially refused to allow us to use it. And then, only under conditions that it would be used for defensive purposes.

I don’t know what that means. But I think they forgot the 1982 Falklands War. They were in big trouble going all the way across the world to attack a country in the Western Hemisphere.

We were trying to be on friendly relationships so that [Argentina] wouldn’t join the other communist nations. And of course, we offered them 2 million gallons of gasoline. We offered them the use of a carrier if they needed it. We gave them sophisticated intelligence. Without the United States’ help, they would’ve had a very hard time retaking it. So, what’s happened?

And then Spain has said that we can’t use at all the NATO base there in Spain. [President Emmanuel] Macron in France and [Chancellor Friedrich] Merz in Germany have also said they’ve expressed reservations.

President Donald Trump is now trying to say, you know, we’re using all of our assets to disarm this common threat to the West. Could you just send a few ships to help us, you know, patrol the Strait of Hormuz? And they’re reluctant.

This gets back to the United States, who pays an inordinate amount of the NATO budget. And it keeps having to, you know, to harangue and hammer. “Please, please defend yourself. We are here to help you, but we’re across the ocean, 3,000 miles away. And this is in your interest. You know, this is the third time Vladimir Putin invaded Ukraine.”

So, don’t they have a fear of Iran? I mean, there was a joint missile defense project. Obama canceled it, in that infamous quid pro quo hot mic conversation where he made a deal with the Russians to give him space so he could get reelected. He would dismantle the Czech and Polish project to have missile defense. That was primarily for the protection of Europe. The United States was going to pay a great deal of it. Protection from Iran.

So, what’s going on? What explains this European schizophrenia? That they want to be an ally, but they don’t want to be an ally. They’re scared to death of a nuclear Iran, but they don’t want to do anything about it. They want the United States to handle it, but they want the United States to handle it and keep them out of it.

But most of their oil comes from the Middle East or North Africa. So, they are adamant that they want the supplies, reliable. They want the Strait of Hormuz open. They want the United States to ensure that. They want the United States to clear the Red Sea of Houthi attacks. We know all that, but they’re not there when we need them at all. And a very, you know, a very reasonable request.

And so why is this?

Well, I think there’s a lot of reasons.

I think they’ve made some disastrous, internal and external choices in their policies.

First of all, Germany has 16 percent of its population are immigrants that weren’t born in Germany.

The vast majority of them are unassimilated, unacculturated, unintegrated Muslims.

Many of them, or most, under Angela Merkel policy. She was the German version of Alejandro Mayorkas, who opened the border and pretty much enacted this destructive policy. In other countries at 6 percent to 10 percent to 12 percent.

But the key is there’s a force multiplier of these open-border illegal immigration policies.

And that is the Muslim communities that immigrate are more radical often than the countries they left that were radical enough.

They don’t want to be part of the West. They feel that their birth rate and their increased immigration will soon swamp these European governments. And the European governments are terrified of them.

So, on key issues of concern to the West, to emasculate Iran, they’re afraid to say anything. And they’re afraid to express support for Israel because these internal populations within the continent will turn on them, or they won’t get their votes.

The second disastrous policy was green energy. Germany and other countries, with the exception of France, have either put on hold or dismantled their coal plants. In the case of Germany, they had to restart them because they disarmed or displaced their nuclear facilities.

They don’t want to tap the huge natural gas deposits that are thought to be in continental Europe. They are not looking for new sources of offshore oil. They don’t want any fossil fuels. No natural gas unless we import it.

They don’t want to develop themselves. And the result is their energy is two or three times more expensive than their economic competitors. And they’re captives of the Middle East and Russia for energy. So that has affected their political independence.

Third, they thought they were at the end of history after the fall of the Cold War and the dissolution of the Warsaw Pact. So, they thought they were in some type of disarmament utopia. So, they, more or less, disarmed.

So, here we are with tiny little Israel with 11 million, 10 million people, and they have 300 front-line aircraft fighters, jets that are flying every day with some of the best pilots in the world. And they have more fighters than our key trio of NATO partners. More than Germany. More than France. More than Great Britain.

Of course, we know about European fertility. Ours is bad enough at 1.65. Theirs is down to 1.3 and 1.4 in some countries, and 1.1. There’s been a new credo in Europe that you’re not going to have children. The good life is too precious. Why waste it raising children? And of course, socialism is not sustainable.

They have this huge socialist safety net, which is exacerbated by millions of impoverished Middle East people coming in illegally who demand entitlements and, sort of, threaten their hosts. And they’re not very gracious immigrants. And you put it all together, and you get European schizophrenia.

And what is that schizophrenia? It’s quietly whispering to the United States, “Help us. Help us. You’ve got to make sure that Russia doesn’t go further west in Ukraine. What are you going to do?”

“All seven presidents before you, Mr. Trump, they’ve all worried about the Iranian nuclear ballistic missile crisis. We’re closer than you are. We can’t keep appeasing them. They hate us as much as they hate you. Who is going to do something? Please, Mr. President.”

And then publicly, “Oh, we’re very disturbed. This is very disturbing. This is very dangerous. I don’t think that we really want to be actively a participant.”

And, the final irony, Europe’s got a bigger population than we do. 450 million people. And its GDP is about the size of China’s. So, it’s got huge resources and potential, even under its socialist and green energy policies. Even with its open borders. Even with its low fertility. With all of those crises that are self-inflicted, it still could arm itself and be a full partner. And yet, it will not do it.

And therefore, it knows it should do it. And it knows there’s things that must be done. And it wants them done, but it wants the United States to do it. So, at the same time, it can criticize them and triangulate against its own savior.

It’s a tragic and really, to be honest, pathetic situation.

https://www.zerohedge.com/political/victor-hanson-what-it-fickle-europeans

Negative West Texas Gas Prices Reveal Mismatch in Global Energy

 


A dislocation in global energy supplies means that even as buyers in some parts of the world are desperate to secure gas, there’s so much extra production in Texas that producers are burning it off as quickly as they’re allowed.

In West Texas, oil and natural gas are produced together. With crude prices surging on the supply disruptions sparked by the war in Iran, many drillers are happy to keep output high. But meanwhile, the region lacks the infrastructure to move all of the gas out and into the export market. As a result, local gas prices have plunged to negative levels.

https://www.bloomberg.com/news/articles/2026-03-21/negative-west-texas-waha-gas-prices-reveal-global-energy-mismatch

US Says Iran's Threat To Hormuz Traffic "Degraded" As 23 Nations Signal Waterway Support

 Three weeks into the U.S.-Israeli war on Iran, the Trump administration's central focus now is very clear: reopen the Strait of Hormuz and restore the normal passage of crude and LNG tankers through a maritime chokepoint that carries roughly one-fifth of global oil and LNG flows.

On Saturday morning, Admiral Brad Cooper, commander of U.S. Central Command and the official overseeing Operation Epic Fury, released an update on day 22 of the combat mission and stated:

Iran has lost significant combat capability over the last three weeks. We are taking out thousands of Iranian missiles, advanced attack drones, and all of Iran's Navy, which they use to harass international shipping. Their navy is not sailing. Their tactical fighters aren't flying. They have lost the ability to launch missiles and drones at high rates as seen at the beginning of the conflict.

Cooper then focused on the Hormuz chokepoint, stating that U.S. forces had "destroyed intelligence support sites and missile radar relays" along the critical waterway that the IRGC used to monitor commercial shipping traffic and conduct targeting operations.

"Iran's ability to threaten freedom of navigation in and around the Strait of Hormuz has been degraded as a result. And we will not stop pursuing these targets," Cooper noted.

A quick summary of the overnight U.S. military operations to degrade IRGC forces around the Hormuz chokepoint, which could allow tanker traffic to resume in some greater capacity next week as the world, and Asia in particular, faces an unprecedented energy shock:

U.S. forces have destroyed Iranian radar and surveillance nodes used to track shipping in the Strait of Hormuz, struck underground anti-ship missile facilities, and hit multiple coastal military sites, as Cooper assesses that Iran's combat capability has deteriorated over the first three weeks of the war.

Cooper's push to neutralize IRGC forces in the Strait of Hormuz comes as shipping traffic through the waterway remained subdued last week.

Overnight, Iran's foreign minister, Abbas Araghchi, told Japan's Kyodo News that Tehran is prepared to facilitate the safe transit of Japanese vessels. Japan imports roughly 90% of its crude from the Gulf, a dependency shared by much of Asia, including China and other major economies.

Following the degradation of IRGC forces in the Hormuz area, a coalition of 23 Western and allied nations (UAE, UK, France, Germany, Japan, Canada, South Korea, Australia, and 15 others) issued a joint statement condemning Iran's attacks on commercial shipping, energy infrastructure, and the strait.

The countries signaled their readiness to support secure transit through the Strait, including coordination efforts and preparatory planning. In other words, this is a major diplomatic breakthrough to reopen Hormuz.

Additional Hormuz headlines:

  • Iranian Navy guided an Indian LPG tanker through the strait on a pre-approved route following diplomatic engagement

  • Iranian officials have become unwilling to discuss reopening Hormuz

  • Brent  still around $112/bbl (+54% since the conflict began)

Energy market:

  • US temporarily eased sanctions on Iranian oil already at sea in a bid to cool surging crude prices, signaling a tactical reversal of its prior "maximum pressure" stance as the war enters week four

New developments on Iranian missile capabilities:

Latest on the Trump administration:

  • Trump said he was considering winding down US military efforts against Iran, claiming the US was close to achieving its objectives

  • The U.S. is ramping up strikes on Iranian drones/naval assets and preparing to deploy ~2,500 additional Marines, adding to ~50,000 troops already in the region.

Most critical reads:

Polymarket bets on a US-Iran ceasefire by April 15 currently stand at 21%.  

All eyes on the Hormuz chokepoint next week. 

https://www.zerohedge.com/markets/us-strikes-iranian-hormuz-targets-23-nations-signal-waterway-support

https://breakingthenews.net/Article/Iran-vows-'unprecedented'-response-if-Kharg-Island-attacked/65921111

US military claims Iran's Hormuz threat 'degraded'

 United States Central Command (CENTCOM) Commander General Brad Cooper claimed Iran's ability to threaten the Strait of Hormuz has been "degraded" after strikes on an underground site storing cruise missiles and other weapons.

Cooper stated that Iran's capacity to challenge navigation in the area is now weakened and emphasized that US operations against such targets will continue.

"Iran has lost significant combat capabilities over the last three weeks," Cooper announced in a video message.

https://breakingthenews.net/Article/US-military-claims-Iran's-Hormuz-threat-'degraded'/65921070

IDF claims striking IRGC missile production sites

 The Israeli Defense Forces (IDF) claimed on Saturday that it had struck several important ballistic missile production sites in Tehran.

In a post on X, the military assessed a "widespread overnight strike," claiming the destruction of "dozens of targets of the Iranian terror regime." The IDF confirmed striking the IRGC's storage site for ballistic missile components, as well as a complex belonging to Iran's Defense Ministry used for producing missile fuel.

"Alongside these sites, the IDF struck several defense systems of the Iranian terror regime," the IDF concluded.

https://breakingthenews.net/Article/IDF-claims-striking-IRGC-missile-production-sites/65921101

Healthcare-focused SPAC Blue Water Acquisition IV prices $125 million IPO

 Blue Water Acquisition IV, a fourth blank check company led by the founder of Blue Water Venture Partners targeting healthcare and tech, raised $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one-half of one warrant, exercisable at $11.50.


Blue Water Acquisition IV is led by CEO and Chairman Joseph Hernandez, the founder and Senior Managing Partner of investment firm Blue Water Venture Partners, and the founder of 2022 biotech IPO Blue Water Vaccines (now Onconetix; ONCO). The SPAC plans to target the biotechnology, healthcare, and technology sectors. Particular areas of interest include pharmaceuticals, medical devices, telemedicine, AI/ML, and cloud computing, among others.

Management has led various SPACs, most recently Blue Water Acquisition III (BLUWU; +5% from offer price), which made headlines for its submission of an unsolicited bid to acquire Citgo Petroleum parent PDV Holding this past September, before it later suspended that bid in November. Blue Water Acquisition II (BWTRU) filed for a $75 million IPO in October 2021, but withdrew its filing the following August. The first Blue Water Acquisition merged with Clarus Therapeutics in 2021, a company that later filed for bankruptcy in 2022.

Blue Water Acquisition IV plans to list on the NYSE under the symbol BWIV.U. BTIG acted as sole bookrunner on the deal.