Plus: $2 gas prices, Azerbaijanâs cease-fire and more. [Bloomberg](
This is Bloomberg Opinion Today, an infinite latte of Bloomberg Opinionâs opinions. [Sign up here](. Todayâs Agenda - [Military blockades]( are dangerous and petty.
- Azerbaijanâs [victors]( should hold the confetti.
- $2 gasoline [promises]( should make Texas sweaty.
- [UK landlords]( are looking rather unsteady. Tommyâs Magic Bean Problem Oh, Tommy. Illustration: Jessica Karl Picture this: You work at a magic bean factory in Washington, DC. Youâre the Senior Assistant to the Sorcerer of Bean Defense. Your primary job is quality control â making sure the non-magical beans are plucked out of the pile before they get put on the conveyor belt. Youâre very, very good at your job. Youâve been at the helm of 427 bean interventions since you started your position, and you even got on the Forbes 30 Under 30 Legume List of Legends last year. Youâve been nominated to take over the US Spellworking Cannellini Command â a Miami-based outpost that involves negotiating with magic bean farmers in Latin America and the Caribbean. Itâs a prestigious promotion, but it has to get the green light from the Black Magic Bean Board of Approval before it becomes official. Already, some objections to your nomination are beginning to surface. You see, your boss â the Sorcerer â isnât exactly popular. âHe should be canned â just like our beans!â you overheard in the break room the other day. Still: You earned this promotion! And bean jobs are so deeply intertwined. The warlock youâre replacing in Miami? Heâs slated to become Supreme Allied Commander of the Northern Bean Treaty Organization. The incoming officer thatâs set to take your place? She canât move to Magic Bean HQ unless youâre in your new post. In other words: If you donât get promoted, the entire magical bean operation gets put on hold. This is pretty much [what nearly happened]( to James Stavridis in 2006 when he was nominated to become a four-star admiral to take over the Miami-based US Southern Command. âAs the first Navy officer ever named to that post, I was proud, excited and a bit intimidated by the responsibilities ahead. But as I went through weeks of preparation for my testimony before the Senate Armed Services Committee, which had to approve the promotion (and roughly 50,000 others each year), a few storm clouds appeared on the horizon.â You see, not many people liked Jamesâs boss, then-Secretary of Defense Donald Rumsfeld. But after running through the logistics, it became clear that there would be significant national security concerns if Jamesâs nomination didnât go through. Without him in Miami, âefforts to rescue American hostages held by the terrorists there would likewise grind to a halt,â he explained. Plus, they were in the midst two wars in Afghanistan and Iraq â leaving an empty post at NATO wasnât an option. So James was granted permission and all was right in the world. That is, until this year. Perhaps youâve heard about Senator Tommy Tubervilleâs decision to put a freeze [on military promotions]( because of a Pentagon policy he claims facilitates abortions. Itâs a situation thatâs âhundreds of times worseâ than what happened to James in 2006, âbecause one Republican senator from Alabama is using an arcane legislative rule to effectively put a hold on promotions for hundreds of generals and admirals.â Luckily, Chuck Schumer seems to understand this â or perhaps he read Jamesâs column today and was inspired to act. This afternoon, the Senate Majority Leader began to [push through Tubervilleâs blockade]( by slating a smattering of nomination votes this week. Read [the whole thing](, which will cost you exactly zero magic beans because itâs free. One-Day War Although yesterdayâs [conflict]( in Azerbaijan may have felt like the shortest war in history, it wasnât. That distinction goes the little known [Anglo-Zanzibar War]( of 1896, which lasted a grand total of 40 minutes. By my rough calculations, Azerbaijanâs victory over the separatist enclave of Nagorno-Karabakh took about 22 hours longer than that. On Tuesday, President Ilham Aliyev decided to launch a âlocal anti-terrorist operationâ against the predominantly ethnic-Armenian region, and by Wednesday, after over 30 people had been [killed]( and 200 others wounded, the fighters agreed to lay down their weapons in a deal that was brokered by Russian peacekeepers. âHandled right, this could be positive, ending more than three decades of often bloody conflict. But given the disputeâs brutal history, that will demand uncommon self-restraint on the part of the Azeris,â Marc Champion [writes](. Sadly, this isnât the first wartime rodeo for Armenia and Azerbaijan. âThe struggle over Karabakh has been underway on and off since before the 1991 collapse of the former Soviet Union. There have been two wars, near-constant skirmishes, tens of thousands of deaths and bouts of ethnic cleansing by both sides,â Marc explains. Now, maybe youâre thinking: âThe Nagorno-Karabaâwha??â And youâd be forgiven for that: âMost Americans have probably never heard of that disputed region in the Caucasus,â Hal Brands [wrote]( way back in 2020, when the second war broke out. But James Stavridis [made it clear]( back then that âwhat may seem to many Westerners a minor clash in a remote corner of the world actually has significant implications for regional security [and] energy markets.â Since the â90s, many things have changed within the region. Azerbaijan went through a major gas and oil boom, boosting the nationâs economic standing. Armenia struggled to keep up with that progress, and its neighboring ally Russia wasnât [super pleased]( to see a [popular revolt]( lead to Nikol Pashinyanâs prime ministership in 2018. After that, âArmeniaâs Russian [security umbrella]( began to look leaky,â Marc explains. Now that Putin is engaged in a âspecial military operationâ of his own, that so-called umbrella has pretty much been [torn to shreds](. The flow of food, medicine and arms that Russia previously supplied the corridor that connects Nagorno-Karabakh with Armenia has slowed to a trickle since the start of the year. Although the [cease-fire]( is welcome news, an âagreement must be reached in talks that are set to begin Thursday, giving some guarantee of safety to Karabakhâs ethnic-Armenians,â Marc writes, noting that âthe fact that Azerbaijan denied striking civilian targets on Tuesday, even as footage showed bombs landing in urban centers, does not bode well.â Read [the whole thing](, free from the paywall. $2 Gasoline Dreams Hmmmmmm: Today, 2024 presidential hopeful Florida Governor Ron DeSantis visited the unofficial shale capital of America: Midland, Texas. The most buzzy part of his speech was his [pledge]( to get [$2 gasoline prices]( in his first year in office. While itâs certainly true that oil prices have surged over the past three months and inflation is still top of mind for voters, as Conor Sen [charts](, itâs not exactly a wise (or logistical) campaign strategy. âThe US has only seen average $2 pump prices on a nominal basis three times in the past 15 years. None of them will be remembered fondly by the US oil industry,â Liam Denning [writes]( (another free read!). In real terms, we havenât had $2 gas since 2004, when Usherâs "[Yeah!](" was blasting on your Sony Walkman: âThe superficially beguiling logic of DeSantisâs plan to unleash US production and thereby slash pump pricesâ is completely unrealistic in the current crude landscape, Liam explains. Frackers have put the volatile shale boom behind them, opting to establish sustainable business models instead. DeSantisâs proposal, which involves drilling on federal lands, dropping the federal pump tax and easing fuel-efficiency requirements, amounts to an incoherent US energy policy that will result in more, not less, dependence on foreign oil imports. If that happens, the only freedom heâs gonna fuel is anger. Telltale Charts Merryn Somerset Webb says [nobody wants to be a landlord]( in the UK anymore because no sane person wants to refinance their mortgage (which was 0.1% when they took it out) with current rates hovering around 5.25%. Although UK property rents are rising at one of the fastest rates on record, she says a record number of buy-to-let investors are [planning to sell](. Many of them are unwilling to spend their money on added tax and regulatory costs, such as abiding to new net-zero rules. But Lara Williams [says]( such regulations are non-negotiable if Britain wants to maintain its place as a climate leader. The UK is woefully behind on properly insulating its homes compared with the [rest of Europe](. As it stands, a house in the British countryside is losing heat up to three times faster than one in western Europe. If you had to steal a car, which would it be? The hypothetical lot you can choose from has a BMW, an Audi, a Tesla, a Mercedes-Benz, a Ford and a Land Rover. Itâs the Tesla, right? Yeahhh, I knew it. But the thing is, true criminals are choosing Land Rovers because theyâre far [easier]( to break into. âIâm no Tesla fanboy, but Elon Muskâs company goes the extra mile on security, and theft rates are [low](,â Chris Bryant writes. Thatâs an impressive feat, considering how the [car theft crime wave]( is pretty much at high tide right now in the [UK](, the [US](, [Canada]( and [Germany](. Further Reading AI is about to [revolutionize]( health care. â Lisa Jarvis People who run public companies shouldnât live in [glass houses](. â Matt Levine Chinaâs [disappearing generals]( could poison the economy. â Minxin Pei Linda Yaccarino is getting [sabotaged]( by Elon Musk. â Dave Lee Taiwanâs not about to buy into the â[Chinese Dream](.â â Karishma Vaswani Good [inflation news]( wonât ruffle the Bank of Englandâs feathers. â Marcus Ashworth In China's backyard, all eyes are on [Jay Powell](. â Daniel Moss The SCOTUS ruling over [social media execs]( deserves a close look. â Noah Feldman ICYMI The [worst retail job]( in America. The US is doing [free Covid tests]( again. [Neuralink]( is looking for volunteers. Half of Miamiâs officials are under [investigation](. [Book bans]( have reached an all-time high. Kickers San Diegoâs [sea lions]( donât like your selfies. There should be an Olympics in [sleeping](. Lana Del Rey explains her viral [Waffle House shift](. Kraft Singles are a [choking hazard](. Hollywood set designers are pivoting to [real estate](. Bonus Chart In case you needed a reminder about how you are just a tiny speck in the universe that will never, ever be able to experience everything that life has to offer, Businessweekâs Daniela Sirtori-Cortina [calculated]( that there are more than 383 billion different possibilities at Starbucks *just* for a latte. The options arenât infinite, she writes, âbut youâll never try all of them.â Notes: Please send magic beans and feedback to Jessica Karl at jkarl9@bloomberg.net. [Sign up here]( and follow us on [Threads](, [TikTok](, [Twitter](, [Instagram]( and [Facebook](. Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before itâs here, itâs on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals canât find anywhere else. [Learn more](. Want to sponsor this newsletter? [Get in touch here](. You received this message because you are subscribed to Bloomberg's Opinion Today newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox.
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