Dear Friend,

In the 1970s, Chevron, Unocal, and Texaco all drilled for the same energy source.

It worked.

They walked away anyway.

Why? Because tapping it would have threatened the most profitable business model in human history. Oil.

So the verdict stood for fifty years: “We can’t get to it.”

Not because they couldn’t. Because they wouldn’t.

Now one company has spent sixty years quietly proving them wrong.

Google just signed a 15-year contract.

Bill Gates just wrote a $100 million check.

And on July 4th, the government hands this energy source its biggest advantage ever.

The oil companies are scrambling back in. But one company already owns the entire chain.

See the company Big Oil is too late to stop >>

“The Buck Stops Here,”
Kelly Maguire
Behind the Markets

BREAKING NEWS

💸 Is Elon Musk Launching A Bank?

This man never sleeps.

Elon Musk has been saying for years that he wants to turn X (formerly Twitter) into an "everything app." Yesterday, he took the biggest step yet toward making that happen.

X Money officially launched yesterday for select Premium+ users in the US, powered by Visa and linked directly to users' debit cards and bank accounts. You can now send and receive money without ever leaving the app.

The model Musk is chasing is WeChat, China's super app where users chat, shop, pay bills, and manage finances without ever switching apps. Nobody has cracked that in the US yet.

Here's what X Money actually does:

• 💰 The interest rate is hard to ignore. X Money offers a 6% annual interest rate on cash savings, which is roughly 15 times the national average at most US banks. Your savings account is paying you almost nothing. X Money is offering to pay you a lot more.

• 💳 It's a full financial product. Users get a metal Visa debit card with their X handle on it, 3% cashback on purchases, zero foreign transaction fees, and FDIC-insured deposits up to $250,000. That's not a social media feature. That's a bank account with a logo on it.

• 🌍 The scale is the weapon. X already has around 600 million monthly active users. No traditional bank or fintech app launched with anything close to that built-in audience. If even a fraction converts, this becomes one of the biggest financial platforms in the country overnight.

The Munch Take: A 6% savings rate, cashback, and peer-to-peer payments, all inside a social media app. On paper that's a genuinely compelling product. The question is whether people trust Elon Musk with their bank account the same way they trust him with their social media feed. Those are two very different levels of commitment.

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THE MARKET WATCH

🍟 McDonald's Stock Just Hit Its Lowest Price In Almost Two Years.

The Golden Arches are looking a little tarnished right now. McDonald's fell 2.67% yesterday, hitting its lowest price since August 2024 and sitting nearly 22% below its all-time high from earlier this year.

The stock has lost roughly $70 billion in market cap since its February peak. For a company that sells $5 meals, that's a pretty expensive problem.

The story here is simple: McDonald's built its whole business on being the place people go when money is tight. But right now, money is so tight that even McDonald's is starting to feel it. The consumer who used to grab a Big Mac without thinking twice is now doing the math at the drive-thru. And the math isn't working out in McDonald's favour.

And it gets worse. The fast food industry is supposed to be recession-resistant. When people can't afford sit-down restaurants, they trade down to fast food. That trade-down is still happening but McDonald's just isn't the one winning it. Competitors are stealing its lunch, quite literally, and the stock is paying the price.

Here's what's actually going wrong:

• 💸 Gas prices are running 44% higher than a year ago, and McDonald's own CFO admitted this hits lower-income customers the hardest. When people are choosing between a tank of gas and a Big Mac, the Big Mac loses.

• 🍔 Burger King delivered 5.8% same-store sales growth in Q1, outperforming the entire fast food industry by more than five points and beating McDonald's 3.9% US growth in the same period. Nobody saw that coming.

• 📉 McDonald's hit an all-time high of $341 in late February and has been sliding ever since, with insiders selling roughly $23 million worth of shares over the past three months. When the people running the company are selling, it's worth paying attention.

The Munch Take: McDonald's built its entire empire on being the cheapest option in the room. I mean, I get their $1 coffee almost every morning. But now gas costs too much to drive there, Burger King is beating it on sales growth, and the stock is at a two-year low. The value king is having a very un-kingly stretch. But with oil crashing below $70/barrel this morning, it might give McDonald’s and burger-hungry consumers the turnaround we’ve been waiting for.

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🍪 Munchy Memes