After the US captured Venezuela’s president at the start of 2026, Donald Trump promised to “unleash” the country’s oil supply. He wanted companies to invest US$100 billion (£74 billion) to get hold of it.

Big oil though, seems less than keen on that idea, appearing to consider Venezuela too expensive or risky. Exxon Mobil’s unenthusiastic response, describing Venezuela as “uninvestible”, even earned a personal rebuke from Trump.

So maybe Trump misunderstood how big oil works, and thought of oil firms as the quintessential risk takers – the ultimate exploiters of uncertainty. Perhaps he had in mind Daniel Day Lewis’s character in the film There Will be Blood, who was willing to risk everything to get his hands of more of the black stuff.

But while that may have been true for some oil firms in the early 1900s, in the 21st century, nothing could be further from the truth. Big oil in 2026 does not like uncertainty. It prefers to invest in what it knows, like plastics and petrochemicals. It does not want to get involved with things as uncertain as Venezuela and green energy.

This idea is backed by my own research on the international oil industry, which shows that large oil companies tend to base their business strategies on long term oil production.

And South American countries play only a minor role in this outlook. Instead, big oil is focused on two key areas: shale oil in the US, and expanding petrochemical production in Asia.

The low cost of shale oil extraction gives it significant cost advantages as a raw material for refineries, while Asia’s growing share of global manufacturing provides a growth market for petrochemicals.

This in turn is linked to oil companies seeking to exploit growing demand for plastics (and lower demand for transport fuels) as part of a clear and long term path to profit. That path is what matters most to oil companies, and Trump’s plan for Venezuela (nor the green transition for that matter) does not provide it.

The priority of profit is also the reason why governments who want greener or cheaper energy cannot rely on powerful oil companies to help them out.

Strength in oil

Underpinning the oil industry’s extreme strength in the global economy is its captive market, where consumer choice is limited to a small number of producers. In the case of the oil market, those consumers are nation states. And even those with large oil reserves of their own need the companies’ technology to refine it.

Venezuela’s oil reserves were once part of this international captive market. But research has shown that not oil is equal. And the range of products which can be manufactured from a barrel of it depends on a mix of geological characteristics and technical capabilities.

So while Venezuela produces more crude oil then it consumes, it needs to import fuels and petrochemicals to meet the needs of its economy. This is because it lacks the refineries to produce these products domestically.

International companies in the oil refining and services sectors control key technology and intellectual property in this area. Without their participation, Venezuela’s crude will remain unsuitable for international refineries.

This fundamental inequality around access to advanced refining technology means there is little relationship between a country’s oil reserves and whether or not it needs to import oil products.

Big oil may yet decide to stump up the investment required to open Venezuela’s oil industry if suitable guarantees are provided. But such state sponsored access places the risk with tax-payers, when those kind of guarantees could be better deployed in the development of clean energy.

And while society needs large firms to invest, politicians need to direct this investment towards productive opportunities. More cheap oil, petrochemicals and plastics are not the answer.

Governments need to recognise that the problem with oil companies is not that they take too many risks, but rather that they take insufficient risks in areas where investment is needed most. For as my research also shows, the retreat of the oil companies from green investment has been matched by a ramping up of their investment in high emission and heavily polluting plastics and petrochemicals.

Addressing this will not be easy. It will requires strong supranational coordination among states to influence the sector, by increasing the costs of oil production and limiting the construction of new infrastructure. But that’s a very different approach to trying to “unleash” the oil supply of a whole nation.

Arsenal missed the opportunity to stretch their lead at the top of the Premier League table to seven points after collapsing against bottom-of-the-league Wolves

Mikel Arteta saw Arsenal’s title chances gunned down and told his misfiring players they will have to “take the bullet.”

Arsenal blew a two-goal lead as they imploded to bottom-of-the table Wolves to put the title race back into Manchester City’s hands.

It was a huge blow for Arsenal who are still five points clear but City have a game in hand and the Gunners still have to go to the Etihad.

Arsenal boss Arteta looked shell-shocked afterwards and said: “I think any question, any criticism, any opinion, you have to take it on the chin today. That’s it. Any bullet, take it, because we didn’t perform at the level that is required.

READ MORE: Next five Premier League title race fixtures as Arsenal draw puts fate in Man City’s handsREAD MORE: Wolves vs Arsenal ends in chaos as players clash after full-time whistle

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“I’m extremely disappointed, obviously, with the result, with the way the game ended. But we have to blame ourselves, I think, in the performance in the second half.

“We didn’t show anything close to the standards that are required in this league to win, with a margin that I think should have existed today, especially in the manner that we played the first half.

“So it’s a moment of disappointment. We all want to talk a lot about how we’re feeling. It’s not the moment to do that, because anything that we do has to be always and only with the intention to help the team.

“And right now, I think we have to swallow that frustration. When you are at this level and at the top, you need to take the hits, because today we deserved them as well, and move on as quick as possible, because on Sunday we have a big game coming up.”

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Arteta was clearly fuming with another collapse as they have won just two of their last seven Premier League games and warned they must bounce back in the North London derby at Tottenham on Sunday.

Arteta added: “So anything that anybody says can be right, because we didn’t do what we had to do. And the way to do it is on the pitch on Sunday, in a great opportunity that we had.

“We’ve always done it, but you are as strong as to show it the next time you do it. To talk and say it here, it’s simple, and we have to do it on the pitch.”

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Newcastle United manager Eddie Howe has challenged his players to make more history by reaching the last 16 of the Champions League for the first time.

Howe’s team face Qarabag at the Tofiq Bahramov Republican Stadium in Baku on this evening in the first leg of their play-off tie with a place in the business end of the competition at stake and head coach Howe, who led the club to their first major domestic trophy in 70 years by clinching last season’s Carabao Cup, is determined to write a new chapter.

Speaking at his pre-match press conference, he said: “It means everything to us. The opportunity for us to get to the last 16 of this competition would be an incredible achievement.

“We’re trying to embrace it in that way and look at the excitement and the possibility rather than feel the burden of the pressure of the occasion.

“We want to turn these moments into history and into moments people talk about for a long time. There’s a real excitement with this game.”

Newcastle will head into the game without inspirational skipper Bruno Guimaraes, who is facing a lengthy spell on the sidelines with a hamstring injury, but his Brazil team-mate Joelinton provided Howe with a significant boost by boarding the plane following his recovery from a groin problem.

Howe, who revealed defender Emil Krafth has undergone knee surgery and is likely to miss the rest of the campaign, said: “Joelinton’s back in the squad, so that’s a great boost for us.

“He’s such an important player, such a big presence within our squad, such a real leader. He trained yesterday and trained well, and felt really good.”

Newcastle  will run out in Baku on the back of successive away victories over Tottenham in the Premier League and Aston Villa in the FA Cup having previously only managed only three wins on the road in all competitions this season.

A third would not only set them up perfectly for the second leg at St James’ Park next Tuesday, but also for Saturday’s intensely difficult league trip to Manchester City, against whom they were drawn – this time at home – in the fifth round of the FA Cup on Monday evening.

Howe said: “We will play our strongest team in the sense that we will try to win the game. There’ll be no thinking of the schedule ahead. This game in isolation is hugely important.”

Full team news on the way shortly.

Both sides emerge from the tunnel and we are just moments away from kick-off at Molineux. A reminder of the teams tonight:

Wolves: Sa, Tchatchoua, Mosquera, S Bueno, Krejci, H Bueno, Andre, A Gomes, Bellegarde, Mane, Armstrong.
Substitutes: Johnstone, Lima, R Gomes, Doherty, Wolfe, Rawlings, J Gomes, Edozie, Arokodare.

Arsenal: Raya, Timber, Saliba, Gabriel, Hincapie, Rice, Zubimendi, Madueke, Martinelli, Saka, Gyokeres.
Substitutes: Arrizabalaga, Mosquera, White, Jesus, Eze, Norgaard, Trossard, Calafiori, Lewis-Skelly.

The company behind the pop-up bar has applied to City of York Council to use a 626m2 site outside M&S for the next five years.

This follows a similar application submitted in 2024 for Thor’s Tipi to use part of Museum Gardens every Christmas for five years, an application which has yet to be determined.

In the planning documents, Amanda Monaghan of Fabler & Co said: “Thor’s is more than just a pop-up bar. It’s a brand, an event, a venue and a destination.”

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Amanda also told the council her company has successfully operated bars and events since 2015, “believing that unique offerings can boost city centre growth and revitalisation.”

The application is for ‘Thor’s York Summer,’ she continued, on the 626m2 site managed by Make it York at 40-45 Parliament Street.

Her proposal seeks a giant Nordic tipi, terrace area with seating, real trees, fire pits and lighting. There would also be a street food truck and pop-up park.

The application seeks to have the tipi and related features on site for 16 weeks a year, from mid-May to early September. In 2026, this would be from May 16 to September 6.

The application is for five years due to the costs of the planning application and of running the venture.

Amanda said: “We have operated for a similar timescale on this space for the past 4 summers. This length of time is important in order to recoup investments made in the structure, also driving footfall into the city centre.”

She continued: “The proposal will rejuvenate York Parliament Street, bringing the pedestrianised space to life.

“We expect Thor’s Tipi to be a driver of footfall, therefore increasing footfall for the businesses surrounding the space.”

The venue would open Monday to Saturday from 11am to 10pm and from 11am to 6pm on a Sunday.

The application said noise management measures would ensure the venue did not disturb residents or businesses. This meant live music would only be on a weekend from 4pm to 6pm. Ambient music would be from 11am to 9pm and at lower levels from 8.30pm.

Safety would be ensured by five CCTVs and security provided by Eboracum.

The Pop-up Park would encourage families, she continued, creating a ‘well rounded offer,’ with open mic, DJ evenings and craft clubs. Food vendors would partner with local musicians and local ales would be offered. The proposal overall, would also create jobs.

The application concluded: “Thor’s Tipi York Parliament Street has been developed in order to create a welcoming space for residents, families and visitors to York.

“By activating the space with a family-friendly venue, we hope to increase footfall into the city centre and a reason to bring communities together in that area- giving the space a sense of purpose.”

“Thor’s Tipi Bar is a pop-up temporary venue, filled with colour, vibrancy and energy. We will host weekly events encouraging dwell time in the area.

“It will be a welcome break for families and shoppers- a green space in the city centre for everyone to enjoy.”

City of York Council has yet to determine the application.

Pointing to an increase in settler violence and the “strangulation” of the Palestinian economy, she said: “This is deeply, deeply wrong and a clear contravention of the resolutions of this council, and counterproductive, it only makes the Israeli and Palestinian people less secure.”

KRIMMZ Girls Youth Club received the King’s Award for Voluntary Service at a celebration evening last week with a range of special guests, volunteers, supporters and partners.

The award recognises the hard work the club does to support ethnically diverse women and girls through sport, leadership, and community development.

Bolton Council cabinet member for Stronger Communities and the VCSE sector Cllr Rabiya Jiva said: “It’s so well deserved and what a fabulous evening celebrating and seeing new leaders taking the stage with such confidence!

“It has been amazing seeing Khadija and the team going from strength to strength over the years.

A special celebration event was held (Image: KRIMMZ Girls Youth Club)

“The beauty of it all is seeing women and girls claiming their space and owning it!”

The award was announced last November as part of the King’s birthday and has now been presented to the group.

Special guests included the Lord Lieutenant of Greater Manchester Diana Hawkins, Mayor of Bolton Cllr David Chadwick, council leader Cllr Nick Peel with Bolton CVS also attendance.

The club supports girls through sport, leadership and community development (Image: KRIMMZ Girls Youth Club)

Both Ms Hawkins and Cllr Peel praised KRIMMZ for its deep community roots and its impact on improving access to opportunities for girls and women who are often underrepresented in sport.

They reflected on KRIMMZ’s journey from a grassroots group to a nationally recognised organisation, highlighting its culturally responsive approach and strong local partnerships.

Representatives from a wide range of partner organisations were also present, showing the collaborations that have supported KRIMMZ’s growth and sustainability.

The award is the highest that can be given to voluntary organisations (Image: KRIMMZ Girls Youth Club)

KRIMMZ Girls Youth Club director Khadija Patel said she feels the award belongs to the whole Bolton community.

She said being honoured like this reflects years of trust-building, volunteer commitment, and belief in creating spaces where women and girls feel welcomed and valued.

The club not only recognised their achievements so far but also took a moment to renew its commitment to continue working together to improve opportunities for future generations.

It now aims to continues to deliver inclusive programmes across Bolton, using sport as a tool to build confidence, leadership, and community connection among women and girls.

Mystics once spent years meditating in caves in search of transcendence. Today, a growing number of people believe something similar can be reached in a single afternoon with the help of a psychedelic drug. Swallow a capsule of psilocybin or take a carefully supervised dose of LSD and you may encounter what many describe as one of the most meaningful experiences of their lives.

Modern clinical trials appear to support this. Several studies suggest that the intensity of a “mystical-type experience” during a psychedelic session predicts the degree of improvement in depression, anxiety or addiction. A recent review, for example, reports a consistent statistical link between mystical experiences and improved mental health.

It is an enticing idea: that healing comes through a profound encounter with unity, sacredness or ultimate reality. But do we really need mystical experiences to get better?

To understand why this question matters, it helps to step back. Long before psychedelics entered psychiatry, philosophers and theologians were fascinated by mystical states. In the early 20th century, the psychologist William James argued in his book The Varieties of Religious Experience that mystical states should be judged “by their fruits, not by their roots” – meaning by their effects on people’s lives rather than by debates about their metaphysical truth.

Others, including the British writer on Christian mysticism Evelyn Underhill and the philosopher of religion Walter Stace, developed what later became known as “perennial philosophy”: the idea that a common core experience lies at the heart of the world’s religions.

This way of thinking has quietly shaped modern psychedelic science. In 1962, the psychiatrist Walter Pahnke conducted the Good Friday Experiment, giving theology students psilocybin in a church. Many reported experiences that were strikingly similar to those described by classical mystics.

Around the same time, British-born psychiatrist Humphry Osmond – who coined the word “psychedelic” – developed treatment approaches designed to induce powerful “peak experiences” that could trigger lasting psychological change.

Today, large clinical trials at universities such as Johns Hopkins and Imperial College London have revived this approach. Researchers routinely measure whether participants have had a “mystical-type experience” using a standardised questionnaire known as the mystical experience questionnaire, or MEQ.

Participants are asked to rate statements such as “I had an experience of unity with ultimate reality” or “I had an experience which cannot be described adequately in words”. The higher the score, the more likely someone is classified as having had a full mystical experience.

But this raises a conundrum. If an experience is supposedly “ineffable” – beyond words – how accurately can it be captured by ticking boxes on a survey?

Some critics argue that the MEQ builds in assumptions drawn from perennial philosophy. By asking about “ultimate reality” or “sacredness”, it may reflect a particular interpretation of mystical experience rather than a neutral description. As one analysis notes, there is a risk that the scale partly reproduces the very theory it aims to test.

Expectations may further complicate matters

Many participants in psychedelic trials arrive already primed for transcendence. They have read glowing media coverage, listened to podcasts or watched documentaries promising life-changing breakthroughs. Research shows that such expectations can significantly shape subjective drug experiences.

My colleagues and I saw just how powerful suggestion can be in a study nicknamed “tripping with the god helmet”. Participants wore a sham brain-stimulation device that we described as capable of activating their “mystical lobes”. In reality, no stimulation was delivered. Yet nearly half reported mystical-type experiences, some describing them as deeply meaningful.

In another experiment, placebo psychedelics administered in a carefully staged environment – complete with evocative music and imagery – produced strikingly similar reports. These findings suggest that context and expectation are not minor side notes. They can play a central role in shaping what people experience.

None of this means psychedelic therapy is “just a placebo”. The drugs clearly alter brain activity and experience in powerful ways. But it does raise the possibility that mystical experiences are not the sole or even primary driver of therapeutic change.

After all, correlation does not equal causation. A large body of psychiatric research warns against assuming that because two things occur together, one must cause the other. Mystical experiences may simply be one visible marker of other processes, such as increased emotional openness, the development of new neural connections or changes in entrenched beliefs.

Super placebos

Some researchers have even described psychedelics as super placebos: substances that amplify expectancy effects rather than bypass them. That may sound dismissive, but it points to something important. Expectations, beliefs and meaning-making are not incidental to healing; they are often central to it.

When used carefully in structured settings, psychedelics may act less like magic bullets and more like catalysts. They intensify whatever psychological processes are already underway.

For some, that may include feelings of unity and transcendence. For others, it may involve confronting grief, fear or long-buried memories. Stanislav Grof, a pioneer of psychedelic therapy, once compared these substances to microscopes for the mind – tools that reveal otherwise hidden aspects of experience.

The key point is this: while mystical experiences often go hand in hand with improvement, they may not be essential. And on their own, they may not be enough to create lasting change.

Lasting therapeutic benefits appear to emerge from a web of interacting factors: brain changes, emotional breakthroughs, supportive settings, skilled therapists and the integration work that follows the session. Focusing too narrowly on whether someone scored above a mystical threshold risks oversimplifying a complex process.

The psychedelic renaissance has opened exciting possibilities for mental health treatment. But if the field is to mature, it may need to move beyond the assumption that transcendence is the secret ingredient.

The future of psychedelic therapy may depend less on chasing mystical peaks and more on understanding the conditions that help people translate intense experiences – mystical or otherwise – into durable, meaningful change.

SEATTLE (AP) — The Seattle Seahawks are going up for sale in accordance with the wishes of late team owner Paul Allen.

Allen’s estate announced Wednesday that it has begun the process of selling the team, which is coming off its second Super Bowl victory in franchise history. The NFL did not immediately respond to a request for comment from The Associated Press, nor did Allen’s estate have anything further to add beyond its brief statement, it said.

Ahead of the Super Bowl, NFL Commissioner Roger Goodell commended Allen’s estate on its time owning the Seahawks.

“They’re in the Super Bowl, and I think from that standpoint they’ve done a really important job in the context of the trust and the execution of that,” Goodell said. “But eventually the team will need to be sold in accordance with that. That will be Jody’s decision for when she does that, and we will be supportive of that.”

Investment bank Allen & Company and law firm Latham & Watkins will lead the sales process, which is estimated to continue through the offseason. NFL owners must then ratify a final purchase agreement.

The estate said the sale is consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy.

The Seahawks have been in the Allen family since 1997, when Paul Allen bought the team for $194 million from then-owner Ken Behring. Allen was critical in keeping the Seahawks in Seattle, which is where the team is expected to remain after the sale is finalized. The Seahawks have a lease at Lumen Field that runs through 2032 with three 10-year options.

Since Allen, co-founder of Microsoft, died in 2018 from complications of non-Hodgkin lymphoma at 65, the Seahawks and the NBA’s Portland Trail Blazers have been owned by his sister, Jody. The estate agreed in September to sell the Trail Blazers to an investment group led by Carolina Hurricanes owner Tom Dundon. The Trail Blazers will remain in Portland as part of the deal, which could be completed this spring.

The last NFL team to be sold was the Washington Commanders in 2023. A group led by Josh Harris that includes Magic Johnson bought the team from longtime owner Dan Snyder and his family for a record $6.05 billion.

It already has been an offseason of change for the Seahawks less than two weeks removed from their Super Bowl victory over the New England Patriots.

The Las Vegas Raiders plucked away offensive coordinator Klint Kubiak and hired him as their head coach. The Seahawks are moving to hire San Francisco 49ers tight ends coach and run game coordinator Brian Fleury as their offensive coordinator, a person with knowledge of the hiring process said Sunday, speaking to The Associated Press on condition of anonymity because a deal was still being worked on.

The Seahawks’ roster could look quite different in 2026, too.

Defensive starters safety Coby Bryant, cornerbacks Josh Jobe and Riq Woolen and edge rusher Boye Mafe will become unrestricted free agents this offseason. Offensive standouts wide receiver/return specialist Rashid Shaheed and running back Kenneth Walker III will be unrestricted free agents in March, too.

Both Shaheed and Walker, who was the Super Bowl MVP, have said publicly they would like to return to Seattle next season.

Should the Seahawks’ sale wrap up by this offseason, though, the team will not be owned by the Allen family for the first time in nearly three decades.

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AP NFL: https://apnews.com/hub/nfl