Home Blog

A major U.S. gasoline production hub is in such a severe drought that its refineries may be hobbled



In parched southern Texas, a yearslong drought has depleted Corpus Christi’s water reserves so gravely that the city is scrambling to prevent a shortage that could force painful cutbacks for residents and hobble the refineries and petrochemical plants in a major energy port.

Experts said the city didn’t expect such a bad drought, and new sources of reliable water didn’t arrive as expected. Those problems arose as the city increased its water sales to big industrial customers.

“We just have not kept up with water supply and water infrastructure like we should have. And it’s decades in the making,” said Peter Zanoni, the city manager since 2019.

Corpus Christi, a city of about 317,000 people that also supplies water to nearby counties, is closely tied to its oil and gas industry. The region makes everyday essentials like fuel and steel and ships them to the world.

Zanoni said it is highly unlikely the city will run out of water, but without significant rainfall or new sources, residents may face forced cutbacks and industry may have to do with less. At a time when the Iran war is already raising gas prices, the shortage is hitting an area that produces 5% of the U.S. gasoline supply.

Droughts are common, but this one has dragged on for most of the past seven years. Key reservoirs are at their lowest point ever. The quickest fix is different weather.

“We are actively praying for a hurricane,” former city council member David Loeb said, half in jest. Loeb doesn’t want anyone injured, but after wrestling with previous droughts in his time on the council, he feels the lack of rain acutely.

The drought isn’t expected to lift by summer, leaving officials scrambling to tap more groundwater to avoid an emergency.

Lessons from last time

After the last drought in the early 2010s, the city approved a pipeline extension to bring in more water from the Colorado River and promoted conservation. In the years that followed, water use actually fell. The city, seeing opportunity, added a petrochemical plant and steel mill to its long list of industrial customers.

City officials had allowed for drought in their calculations — just not this kind of drought, Zanoni said. It has hit especially hard because reservoirs never fully recharged after the last one.

And it’s come at a bad time.

After many years, the pipeline extension finally delivered its full capacity only last year. Meanwhile, discussion of building a desalination plant that would remove salt from seawater — a potentially drought-proof solution recommended in 2016 — bogged down over concerns about costs as high as $1.3 billion and environmental impact.

“If the then-city council had followed through on that, we would have had that plant up and running by now,” Zanoni said.

It’s an industry town

Corpus Christi has followed its long-established plan for reducing water use. Stage 1 seeks voluntary actions from citizens like taking shorter showers and limiting how often they can water. Currently, the city is in Stage 3, which means pauses on many outdoor water uses.

Many residents are angry that they can’t water their lawns, that their bills are set to rise sharply and that they may face fines, said Isabel Araiza, co-founder of a grassroots group active on water issues. Some don’t feel industry will be asked to share in the pain, she said.

The city’s drought plan allows for charging residents and businesses extra if they use lots of water. But big industry, which Zanoni says consumes as much as 60% of the city’s water, can opt to pay a permanent surcharge to avoid the possibility of having a much larger fee added in times of drought.

Araiza calls it a bad system. Once industry pays the surcharge, she said, they have no incentive to conserve water.

The city has defended the system, saying in a statement that industry does not “get a pass on water conservation” or forced curtailment. The statement said the business surcharges have raised $6 million a year.

It is wrong to suggest industry isn’t helping, said Bob Paulison, executive director of the Coastal Bend Industry Association. Companies have stopped landscaping, they recycle water for essential cooling needs and they are looking for alternative water sources, he said.

The city hasn’t imposed extra costs on anyone yet.

But Zanoni said water rates may eventually double as the city invests roughly $1 billion on infrastructure — costs that some argue will disproportionately benefit industry and make life for residents more expensive.

What’s the way out?

The city is in a water emergency when it has 180 days before water supply can’t keep up with demand. Officials have run through different scenarios for getting new water and the drought easing, and have said an emergency could come as early as May, as late as October, or not at all.

The city has tapped into millions of gallons of new groundwater, and it hopes to get even more.

The biggest unknown is the Evangeline Groundwater Project, which involves a pipeline and about two dozen wells that could add enough water to head off an emergency. It still needs state approval but the city hopes water could be flowing as soon as November. New sources come with drawbacks – some have raised water quality concerns, and there are worries too much pumping could deplete groundwater.

If the city has to declare a water emergency, it would be able to more aggressively curtail water use – mandatory reductions that would apply evenly to all industry and residents. That is a sensitive decision and is likely to be a “knock-down drag-out bloodbath,” Loeb said.

Because residents on average have already reduced their water use, future mandatory cuts are likely to fall heavier on industry.

“It’ll be an unbelievable disaster,” said Don Roach, former assistant general manager of the San Patricio Municipal Water District that has lots of industrial customers in the area. “When you cut the cooling water off to most of these industries, they just have to shut down. There’s no other way around it.”

Paulison said companies that produce fuel, polymers, iron and steel “have the least amount of flexibility in just cutting water usage.” He added, however, that companies remain optimistic they can reduce usage, adapt and continue operations.

Zanoni said the city’s plans should buy time to avert the worst.

“We are hoping we don’t get there, but we don’t work on hope,” he said.

Stock futures sink, oil spikes as Navy looks to block Iran’s exports and break its grip on Hormuz



After a week when ceasefire hopes lifted sentiment and stock prices on Wall Street, the U.S. war on Iran could soon flare up again.

Talks between the two countries ended without a deal over the weekend, prompting President Donald Trump to announce that a naval blockade will be imposed on the Strait of Hormuz.

That would target Iranian oil shipments, which have continued flowing, while Tehran has bottled up supplies from other countries by selectively closing the strait with drone and missile attacks.

Futures tied to the Dow Jones industrial average fell 531 points, or 1.10%. S&P 500 futures were down 1.15%, and Nasdaq futures lost 1.32%.

U.S. oil futures jumped 8.63% to $104.90 a barrel, and Brent crude climbed 8.04% to $102.85. Gold fell 2.28% to $4,678 per ounce.

The U.S. dollar was up 0.49% against the euro and rose 0.32% against the yen. The yield on the 10-year Treasury was flat at 4.317%.

After the first month and a half of the war focused on aerial bombardments and missiles barrages, the next phase is poised to rely on naval forces as the U.S. follows a two-part strategy targeting Iran’s main economic lifeline as well as its control of the strait.

U.S. Central Command said the Hormuz blockade will begin on Monday at 10 am ET, and indicated it will also be selective, despite Trump’s vow that the strait should be open to everyone or no one at all.

“The blockade will be enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman,” it explained in a statement. “CENTCOM forces will not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports.”

Preventing Iran from generating oil revenue would not only cripple its already-collapsing economy but also deny financial resources for the Islamic Revolutionary Guard Corps.

Meanwhile, the Navy sent two destroyers through the strait on Saturday to prepare for mine-clearing operations. Central Command said it is “establishing a new passage” for the maritime industry for the free flow of commerce.

The IRGC challenged the warships and warned them to leave. A drone was also reportedly launched at the ships, which destroyed it. On Sunday, the IRGC threatened to deliver a “strong and forceful response” to any warships that approach the Strait of Hormuz.

Until this weekend, U.S. ships had avoided the strait as Navy officials previously have described it as an Iranian “kill box” filled with numerous threats, including anti-ship missiles, drones, fast-attack boats, and mines.

The failure to reopen the strait has sent oil prices skyrocketing, and Tehran’s ability to scare away tanker traffic has emerged as its main source of leverage over the U.S.

But if the Navy can create an alternate path through the strait with manageable risks from Iranian attacks, then the regime loses its most potent weapon.

“One of the things that commercial ships were waiting to see was whether or not this strait was clear, and sailing two destroyers in is a big one,” Campbell University professor Salvatore Mercogliano, who specializes in military and maritime history, said on his podcast.

Grad School Fellowships vs. Assistantships: How Funding Works


Key Points

  • Fellowships are merit-based awards with no work requirement, while assistantships require 10–20 hours per week of teaching, research, or administrative work in exchange for tuition coverage and a stipend.
  • PhD programs are far more likely to offer full funding packages than master’s programs, though funded master’s positions do exist, especially in STEM and at large research universities.
  • Both fellowship and assistantship income are taxable, but the way taxes are withheld differs – assistantship pay has taxes taken out automatically, while fellowship recipients are responsible for paying taxes themselves.

If you’ve ever heard someone say they’re getting paid to go to grad school, they weren’t lying. Every year, thousands of graduate students attend programs where their tuition is fully covered and they receive a monthly stipend to cover living expenses.

The two most common ways this happens are through fellowships and assistantships and understanding how they work is one of the smartest things you can do before applying to graduate school.

Would you like to save this?

We’ll email this article to you, so you can come back to it later!

What Are Fellowships and Assistantships?

A fellowship is a merit-based financial award given to a graduate student. It typically includes a tuition waiver and a stipend (a payment meant to cover living costs). The defining feature of a fellowship is that it comes with no work obligation. You’re being funded to focus on your studies and research. Fellowships are awarded based on academic achievement, research potential, or fit with a program’s goals.

An assistantship, by contrast, is essentially a part-time job at the university. Graduate assistants work 10–20 hours per week and receive tuition coverage plus a stipend in return.

Assistantships come in three main types:

  • Teaching assistantships (TAs), where you help teach undergraduate courses
  • Research assistantships (RAs), where you work on a faculty member’s research project
  • Administrative or graduate assistantships (GAs), where you support a department or office with operational tasks

In both cases, you’re not taking on student loan debt for the portion covered by the award.

How Do You Get Grad School Funding Work?

For most programs, you’re automatically considered for funding when you apply for admission. This is especially true at the PhD level, where many departments build assistantships or fellowships into their admissions offers. You typically don’t need to fill out a separate application—your admission application, personal statement, writing samples, and letters of recommendation serve double duty.

That said, some fellowships do require a separate application. Prestigious awards like the NSF Graduate Research Fellowship or university-wide fellowships often have their own deadlines and requirements. If you’re applying to graduate school, ask each program directly: “How do I apply for funding?” and “What percentage of students in your program are funded?” Those two questions will tell you a lot.

For assistantships specifically, departments sometimes post open positions on their websites or internal job boards. Reaching out to faculty whose research interests align with yours can also open doors to RA positions.

Master’s vs. PhD: Who Actually Gets Funded?

This is where expectations need to be set clearly. PhD programs are significantly more likely to offer full funding. At many research universities, admitted PhD students receive a multi-year funding package that includes tuition, a stipend, and health insurance. It’s standard practice in fields like the sciences, engineering, economics, and the humanities. If a PhD program admits you but doesn’t offer funding, that’s often a signal to think carefully about whether it’s the right fit.

Master’s programs are a different story. Full funding at the master’s level is less common, especially in professional programs like MBA or counseling degrees. However, funded master’s positions do exist – particularly in STEM fields, at large state universities, and in programs that need TAs for undergraduate courses.

Some universities also offer partial assistantships at the master’s level, covering tuition but offering a smaller stipend.

How Much Do You Get Paid?

Stipend amounts vary widely by institution, field, and degree level. PhD stipends for a half-time (20-hour) appointment generally range from about $20,000 to $45,000 per year. Master’s-level stipends are typically lower. To give a few examples from the 2025–2026 academic year: UW Madison set its minimum annualized stipend at $35,636 for half-time appointments, while Georgia Tech’s doctoral minimum was about $27,500 annually and its master’s minimum was roughly $14,200.

These are not salaries that will make you rich, but combined with free tuition (often worth $30,000–$60,000 per year at many institutions), the total value of a funded position is substantial. Many packages also include health insurance, which adds thousands more in value.

How Do Taxes Work For Stipends?

This catches many new grad students off guard. Both assistantship and fellowship income are considered taxable income by the IRS. But the way taxes are handled differs.

Assistantship stipends are treated like wages. Taxes are withheld from each payment, and you’ll receive a W-2 at tax time. This works the same as any other job.

Fellowship stipends are different. Universities generally do not withhold taxes from fellowship payments, and you won’t receive a W-2. Instead, you’re responsible for reporting this income yourself and may need to make quarterly estimated tax payments to avoid penalties. Many first-year graduate students miss this and face an unexpected tax bill in April.

Tuition waivers can also have tax implications. Under IRS rules, tuition benefits for graduate students engaged in teaching or research activities are generally excluded from taxable income under Section 117(d) of the Internal Revenue Code.

However, the rules can be complicated, and some portion of a tuition waiver may be taxable depending on your specific situation. Check with your university’s graduate school office and consider consulting a tax professional during your first year.

What You Should Do Next

If you’re planning on graduate school and are looking for fellowships and assistantships, here’s what to do:

  1. Ask every program you’re considering: “What funding is available, and how do I apply?” Don’t assume the information on the website is complete.
  2. Look at external fellowships early. The NSF GRFP, Ford Foundation Fellowship, and others have deadlines that often fall before or alongside grad school application deadlines.
  3. Contact faculty directly. If a professor has grant funding, they may be able to offer you an RA position. A thoughtful email about their research can go a long way.
  4. Compare the full funding package, not just the stipend. Tuition coverage, health insurance, and fee waivers can vary dramatically between offers.
  5. Plan for taxes from day one. Set aside money for taxes if you’re on a fellowship, and understand what your W-2 or 1098-T will look like before filing season arrives.

Don’t Miss These Other Stories:

@media (min-width: 300px){[data-css=”tve-u-19d56b75a57″].tcb-post-list #post-21682 [data-css=”tve-u-19d56b75a5d”]{background-image: url(“https://thecollegeinvestor.com/wp-content/uploads/2023/04/TheCollegeInvestor_AllSizes_Resumes_for_College_Graduates_02_1280x720-150×150.jpg”) !important;}}

Best Graduate School Student Loans And Rates

Best Graduate School Student Loans And Rates
@media (min-width: 300px){[data-css=”tve-u-19d56b75a57″].tcb-post-list #post-52635 [data-css=”tve-u-19d56b75a5d”]{background-image: url(“https://thecollegeinvestor.com/wp-content/uploads/2025/02/How_To_Get_A_Full_Ride_Scholarship_1280x720-150×150.png”) !important;}}

How to Actually Get A Full-Ride Scholarship

How to Actually Get A Full-Ride Scholarship
@media (min-width: 300px){[data-css=”tve-u-19d56b75a57″].tcb-post-list #post-43514 [data-css=”tve-u-19d56b75a5d”]{background-image: url(“https://thecollegeinvestor.com/wp-content/uploads/2023/08/TheCollegeInvestor_AllSizes_Best_Dental_School_Student_Loans_02_1280x720-150×150.jpeg”) !important;}}

5 Best Dental School Student Loans: Federal And Private

5 Best Dental School Student Loans: Federal And Private

Editor: Colin Graves

The post Grad School Fellowships vs. Assistantships: How Funding Works appeared first on The College Investor.

Giant, Stop&Shop, Martin’s: Get 8x Points On Zift Zillions Giftcards (4/10-4/16)


Update 4/12/26: 8x on Zift Zillions from 4/10 – 4/16 (check your local circular to confirm)

The Offer

Stop&Shop, Giant, Martin’s

Giant, Stop&Shop, Martin’s have an offer showing in their circular:

  • Get 4x fuel points on all third-party gift card purchases when you use your store loyalty card.

Gift cards generally don’t earn fuel points at all at Giant/S&S/Martin’s, but occasionally they release offers like this to get points on gift card purchases. Visa and Mastercard gift cards are excluded from this offer, as are Giant/SS gift cards excluded as well.

Gas Points Details

Every 100 points gets you 10¢ off per gallon at Shell, up to 20 gallons. If you have 1000 points, you’ll get $1 off. If you have 1500 points, you’ll get $1.50 off per gallon (max $1.50 discount in most). Points can be used at partner Shell locations.

Points are now usable on groceries as well, with a value of 100 points equaling a $1 discount.

  • You have 30 days to select whether you want to use the points on gas or groceries, then 30 days to actually use them.
  • See the FAQ for more details. Some of the details vary by area and store.
  • Points usually are available immediately, but I’ve had on occasion where it took a day until they showed up and were usable.

Our Verdict

6x is better than we usually see, and it will work on top gift cards like Amazon and Best Buy. Given that points can be used to discount groceries as well these deals are more widely useful. It can potentially amount to 6% back when redeemed for groceries or 12% back when redeemed for gas. Use a card that earns a bonus at grocery stores.

Note, many SS/Giant stores have implemented a $2,000 limit in gift card purchases each day. They also require putting it all on a single card. Also note that some SS/Giant stores now only award points for the first purchase of the deal, so be sure to buy the full $2,000 worth in a single transaction. The fine print of this offer implies that you get $2,000 across the entire week.

Post History:

  • Update 2/26/26: 4x on select third party gift card brands from 2/27 through 3/12: Airbnb, Delta, Disney, DoorDash, Southwest, Hotels.com, Lyft, GolfNow, Starbucks, Uber. (ht gcanywhere) 
  • Update 11/29/25: From 11/28 – 12/4, get 10x points on Zift Zillions of Gifts, Google Play, The Home Depot®, Panera Bread®, Texas Roadhouse® or Topgolf® gift cards
  • Update 11/3/225: Deal is back for 6x on third party gift cards through 11/20/25. (ht MEAB)
  • Update 6/9/25: Deal is back 6/6 – 6/19 (ht readers Gerald S and Moshiach770)
  • Update 10/31/24: Starting tomorrow, they are offering 4x, 5x, or 6x points on all third party gift card purchases. Some chains are 4x, some 5x, some 6x. Valid November 1 through November 21, 2024. (ht reader Gerald)
  • Update 6/7/24: Earn 6x points on all third party gift cards until June 7 – June 20, 2024. Hat tip to GC Galore
  • Update 3/22/24: Check your local circular for 4x fuel points on third party gift cards from 3/22 through 4/4. The fine print excludes Visa/MC and store gift cards which would imply that all regular third party gift cards are eligible. If anyone can confirm that it applies to all third party gift cards (like Amazon, Best Buy, etc) kindly let us know in the comments.

How women leaders in mortgage have paved the way for the next generation


“Mentorship is also incredibly important,” Shelton said. “Many women thrive when they have guidance and support as they grow in their careers. The organizations that help collaborate instead of compete tend to see more women step into leadership roles.”

As the percentage of women grows in the industry, Shelton said it has been important to get into higher-profile positions to have more influence over the future of the industry.

“We had this conversation for a long time, of women wanting a seat at the table,” she said. “Well, we’re 46% of the entire mortgage industry, and so we have a seat at the table. So now, what do we do with it? I think that seeing more women in leadership and having more women mentors just creates an environment for other women to feel confident.”

The industry has changed significantly since Shelton began as a broker. Now, there are women across the landscape of the largest companies holding critical leadership roles.

“I think when I started, there weren’t many women in leadership roles that you could look up to,” Shelton said. “Now we are seeing some of the greatest women, like Melinda Wilner and Sarah DeCiantis at UWM, who lead in huge positions at the number one lender in America. What is better for women than to look at other women who have carved their space in this industry?”

Form 8K Expand Energy Corp For: 6 April




Form 8K Expand Energy Corp For: 6 April

AI Stock Sell-Off: Here’s How to Find the Long-Term Winners


Artificial intelligence (AI) stocks represented a gold mine for investors over the past three years. Companies developing or selling AI products and services saw their share prices take off as investors aimed to get in early on this game-changing technology. In the initial stages of the AI boom, these players were the first to monetize their investments. For example, chip designers’ revenue soared as customers rushed to buy chips to power the training of large language models — these are the workhorses of AI.

But, over the past few months, the path hasn’t been so smooth for AI stocks or their shareholders. In fact, an AI stock sell-off unfolded, with investors rotating out of many AI giants in favor of stocks in other industries. This happened amid various uncertainties — from concerns about the economy to worries about the war in Iran — that damaged investor appetite for growth assets.

This doesn’t mean the AI story is over, though. Buying opportunities remain, so after the recent AI stock sell-off, here’s how to find the long-term winners.

Image source: Getty Images.

Today’s AI environment

First, it’s important to talk about the AI environment today and what’s likely to unfold in the coming years. Over the past several quarters, cloud companies have invested billions of dollars to build out infrastructure — this is to serve demand as it’s exploded higher. And the work is far from over. In fact, major cloud players aim to spend nearly $700 billion this year alone to support this build-out.

Though some investors have worried about the pace of spending, demand for this infrastructure hasn’t relented — and at the same time, the actual use of AI, which will drive the AI market of tomorrow, requires compute. This means capacity is needed today, and it likely will be necessary well into the future, too.

To find AI stocks that will benefit from the AI boom over the long term, it’s important to look for the following four elements — and ideally, each AI stock you buy will have all of these.

1. An AI growth track record

The company has demonstrated its AI strengths and generated revenue growth during the early stages of the AI boom. It’s developed a spot in this exciting market and has shown that its products or services can generate significant revenue.

A great example of this is Palantir Technologies (PLTR 1.86%), which has clearly won over government and commercial customers with its AI-driven software, a platform that helps them make better use of their data. Palantir has been around for more than 20 years, progressively building out its technology, and all of that effort is now generating great returns.

Palantir Technologies Stock Quote

Today’s Change

(-1.86%) $-2.43

Current Price

$128.06

2. Clear long-term prospects

The AI company has set out logical goals and offers goods or services that should result in growth well into the future. For this, look no further than Nvidia (NVDA +2.59%). The AI chip giant aims to update its chips on an annual basis, which should keep its technology ahead of that of rivals.’

And chips are needed to power the actual use of AI in the real world, meaning it’s very likely that, as long as AI is in use, Nvidia will be at the heart of the story.

3. The company isn’t a one-trick pony

A company highly specialized in one area may win in AI — but it comes with more risk than a player that’s diversified across AI or even into other businesses. Amazon (AMZN +2.05%) is a fantastic choice here as it’s a leader in e-commerce and cloud computing — and through the cloud business, it’s also become an AI powerhouse. Amazon Web Services is the biggest cloud provider globally, and Amazon is seeing high demand from AI and non-AI customers. All of this makes it very likely that Amazon will continue delivering significant growth over time.

4. A solid moat

A strong competitive advantage ensures that today’s leader won’t be unseated further down the road. Taiwan Semiconductor Manufacturing (TSM +1.40%), as the world’s biggest chipmaker, has the infrastructure and expertise that should keep it in this position. It would be very difficult for a rival to build out a similar presence and lure big tech customers away from TSMC. The bottom line: A moat may separate the AI winners from the AI losers as the AI story unfolds.

A final thought

Above, I mentioned one company as an example of each strength — but these players actually each have all four strengths that should lead to AI success. And there are many others out there that also check off all of those boxes. It’s also key to consider valuation and select stocks that may be trading in bargain territory right now. By doing all of the above, you could take advantage of the recent sell-off and find the AI stocks that are most likely to emerge as winners over the long haul.

Singapore’s Thunes Joins Circle Payments Network To Expand Stablecoin Settlement


Singapore-based cross-border payments firm Thunes is expanding its stablecoin settlement capabilities through a new collaboration with Circle, as payment infrastructure providers step up efforts to connect blockchain-based rails with traditional financial systems.

Thunes said it had joined Circle Payments Network Managed Payments, enabling its customers to access stablecoin-powered settlement while continuing to operate within existing fiat-based workflows.

The partnership is intended to improve interoperability across the global payments landscape by linking traditional banking systems, mobile wallets and digital asset networks.

The move builds on a relationship established in 2024, when Thunes and Circle began working together on stablecoin-powered liquidity.

Since then, Circle’s USDC stablecoin has been integrated into Thunes’ Direct Global Network, which spans more than 140 countries.

According to Thunes, the use of USDC for near real-time settlement has reduced dependence on traditional banking hours and lowered the need for heavy pre-funding in local nostro accounts.

The company said this allows banks, money transfer operators and gig economy platforms on its network to manage liquidity around the clock, improve capital efficiency and broaden connectivity across bank accounts, mobile wallets, and stablecoin wallets.

Circle said the tie-up would support further development of its payments network and widen access to stablecoin-based settlement for financial institutions globally.

The partnership highlights how stablecoins are increasingly being positioned as part of mainstream payment infrastructure rather than solely as crypto trading instruments.

For firms such as Thunes, the attraction lies in reducing liquidity friction in cross-border transfers and freeing up capital that would otherwise sit idle in correspondent banking arrangements.

Still, broader adoption is likely to depend on regulatory clarity and on whether financial institutions become more comfortable using stablecoins deeper within day-to-day payment flows.