Oil Industry Pushes Back On Limiting Diesel Exports

Key takeaways

Polymarket is a prediction market that allows trading based on future events in various sectors.
Harvey Weinstein was sentenced to 15 years in prison following a conviction for sexual assault that occurred two decades ago.
U.S. federal prosecutors are investigating Epstein’s lawyer and accountant for their possible roles in concealing Epstein’s illicit activities.
Iran's president expressed willingness to negotiate with the U.S. but refused to capitulate to American pressure and reaffirmed Iran’s peaceful nuclear intentions.
President Trump is contemplating restrictions on diesel exports to address rising energy prices, though such policies could backfire by increasing global prices.
Meta's new AI agent 'Muse' has quickly become popular, but faces setbacks like being blocked from major online retailers, which could hinder adoption.
Major tech companies, including Meta, Google, and OpenAI, are competitive in developing personal AI assistants, with early market entry being a significant advantage.
Harvard’s Claudine Gay is returning to teaching, focusing on critical issues within higher education and university governance.

Summary

Overview of Major Headlines and Market Updates

The episode begins with a roundup of significant news stories, including Harvey Weinstein's sentencing of 15 years in prison, and an investigation into Jeffrey Epstein's lawyer and accountant by Manhattan federal prosecutors. The hosts detail the roles of these legal figures and their previous denials of involvement in Epstein's activities. They also report on Iran's president expressing willingness for negotiations with the U.S., emphasizing Iran's stance on its nuclear program and its resistance to U.S. pressure. Moving to economic issues, the episode explains President Trump's consideration of restricting U.S. diesel exports amid rising energy prices, particularly diesel costs exceeding $6.50 per gallon, which have been driven by geopolitical tensions and energy policy. Benoit Morenne elaborates on the potential impacts of such restrictions, including how they might raise domestic supplies temporarily but could also increase global prices, hurting American consumers and fueling inflation. The episode concludes this segment with updates on international oil prices, U.S. bond yields, stock market declines, and U.S.-Russia diplomatic talks regarding Vladimir Putin's potential attendance at the G20 in Miami.

Meta's New AI Agent 'Muse' Gains Popularity and Faces Challenges

The second major segment focuses on Meta's recent AI product 'Muse,' which is designed to perform tasks like paying bills, online shopping, and emailing. Megan Bapraski reports that Muse has rapidly gained popularity, sitting at the top of the Apple App Store since its launch two weeks prior. She explains that Muse's capabilities include handling routine personal tasks, though it has faced some restrictions, such as being blocked from shopping on Amazon and Etsy, which could be significant hurdles if they persist or worsen. Bapraski highlights that other tech giants like Google and OpenAI are likely to release similar products soon, which could lead to increased competition. At Meta's upcoming Connect conference, investors and users will look to CEO Mark Zuckerberg for further insight into the company's AI strategies, which is crucial as Meta's stock has already risen 20% since the app's launch. The segment ends with a discussion of the importance of being first to market and the potential for user loyalty to form around early adopters of AI agents.

Harvard's Claudine Gay Returns to Teaching and Reflects on University Challenges

The final segment details Harvard president Claudine Gay's return to the classroom after her resignation in 2024, which was prompted by criticism over her handling of campus anti-Semitism and alleged plagiarism. Her course 'What is a University' invites students to critically examine the role, purpose, and power dynamics within American universities, using Harvard as a case study. The curriculum includes controversial topics such as Harvard's history with slavery and Jeffrey Epstein's ties to the university, alongside her lecture on how donor influence can threaten institutional independence. Gay plans to teach additional courses on African-American politics and the politics of race and ethnicity in the spring, aiming to foster critical thinking among students about the higher education system's structure and future. This segment emphasizes her intention to challenge and reform university norms through academic inquiry.

Show notes

P.M. Edition for Sept. 23. WSJ energy reporter Benoit Morenne discusses why the oil industry is so opposed to the Trump administration’s idea of limiting diesel exports.… and who wants President Trump to put restrictions in place. Plus, Secretary of State Marco Rubio says President Trump has invited Russian president Vladimir Putin to the G-20 meeting in Miami this December. And Meta’s new personal AI agent Muse has been sending the company’s stock price higher, but Meta’s lead in that space isn’t guaranteed. We hear from Journal reporter Meghan Bobrowsky about hurdles to the app’s growth and what she’ll be watching for during Mark Zuckerberg’s keynote later today at the Meta Connect conference. Alex Ossola hosts.

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