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Big oil firms keep one part of their business hush-hush: trading. Amid an almighty oil shock, the majors’ trading arms are raking it in. But competition is mounting. We look at the Trump administration’s messy attempts to regulate frontier AI models, and how that may cost America its AI edge. And why the biggest music tours are going to fewer places. Guests and host:Matthieu Favas, commodities editorShashank Joshi, incoming Washington bureau chiefVicky Jessop, culture writerJason Palmer, co-host of “The Intelligence”Topics covered: oil majors, oil tradingAI, frontier models, American regulationmusic business, concert toursGet a world of insights by subscribing to Economist Podcasts+. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account. Hosted on Acast. See acast.com/privacy for more information.