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President-elect Donald Trumps choice to run the sprawling government agency that administers Medicare, Medicaid, and the Affordable Care Act marketplace celebrity doctor Mehmet Oz recently held broad investments in health care, tech, and food companies that would pose significant conflicts of interest. Use Our Content

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Ozs holdings, some shared with family, included a stake in UnitedHealth Group worth as much as $600,000, as well as shares of pharmaceutical firms and tech companies with business in the health care sector, such as Amazon. Collectively, Ozs investments total tens of millions of dollars, according to financial disclosures he filed during his failed 2022 run for a Pennsylvania U.S. Senate seat.

Trump said Tuesday he would nominate Oz as administrator of the Centers for Medicare & Medicaid Services. The agencys scope is huge: CMS oversees coverage for more than 160 million Americans, nearly half the population. Medicare alone accounts for approximately $1 trillion in annual spending, with over 67 million enrollees.

UnitedHealth Group is one of the largest health care companies in the nation and arguably the most important business partner of CMS, through which it is the leading provider of commercial health plans available to Medicare beneficiaries.

UnitedHealth also offers managed-care plans under Medicaid, the joint state-federal program for low-income people, and sells plans on government-run marketplaces set up via the Affordable Care Act. Oz also had smaller stakes in CVS Health, which now includes the insurer Aetna, and in the insurer Cigna. Email Sign-Up

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It’s not clear if Oz, a heart surgeon by training, still holds investments in health care companies, or if he would divest his shares or otherwise seek to mitigate conflicts of interest should he be confirmed by the Senate. Reached by phone on Wednesday, he said he was in a Zoom meeting and declined to comment. An assistant did not reply to an email message with detailed questions.

Its obvious that over the years hes cultivated an interest in the pharmaceutical industry and the insurance industry, said Peter Lurie, president of the Center for Science in the Public Interest, a watchdog group. That raises a question of whether he can be trusted to act on behalf of the American people. (The publisher of KFF Health News, David Rousseau, is on the CSPI board.)

Oz used his TikTok page on multiple occasions in November to praise Trump and Robert F. Kennedy Jr., including their efforts to take on the illness-industrial complex, and he slammed so-called experts like the big medical societies for dishing out what he called bad nutritional advice. Ozs positions on health policy have been chameleonic; in 2010, he cut an ad urging Californians to sign up for insurance under President Barack Obamas Affordable Care Act, telling viewers they had a historic opportunity.

Ozs 2022 financial disclosures show that the television star invested a substantial part of his wealth in health care and food firms. Were he confirmed to run CMS, his job would involve interacting with giants of the industry that have contributed to his wealth.

Given the breadth of his investments, it would be difficult for Oz to recuse himself from matters affecting his assets, if he still holds them. He could spend his time in a rocking chair if that happened, Lurie said.

In the past, nominees for government positions with similar potential conflicts of interest have chosen to sell the assets or otherwise divest themselves. For instance, Treasury Secretary Janet Yellen and Attorney General Merrick Garland agreed to divest their holdings in relevant, publicly traded companies when they joined the Biden administration.

Trump, however, declined in his first term to relinquish control of his own companies and other assets while in office, and he isnt expected to do so in his second term. He has not publicly indicated concern about his subordinates financial holdings.

CMS main job is to administer Medicare. About half of new enrollees now choose Medicare Advantage, in which commercial insurers provide their health coverage, instead of the traditional, government-run program, according to an analysis from KFF, a health information nonprofit that includes KFF Health News.

Proponents of Medicare Advantage say the private plans offer more compelling services than the government and better manage the costs of care. Critics note that Medicare Advantage plans have a long history of costing taxpayers more than the traditional program.

UnitedHealth, CVS, and Cigna are all substantial players in the Medicare Advantage market. Its not always a good relationship with the government. The Department of Justice filed a 2017 complaint against UnitedHealth alleging the company used false information to inflate charges to the government. The case is ongoing.

Oz is an enthusiastic proponent of Medicare Advantage. In 2020, he proposed offering Medicare Advantage to all; during his Senate run, he offered a more general pledge to expand those plans. After Trump announced Ozs nomination for CMS, Jeffrey Singer, a senior fellow at the libertarian-leaning Cato Institute, said he was uncertain about Dr. Ozs familiarity with health care financing and economics.

Singer said Ozs Medicare Advantage proposal could require large new taxes perhaps a 20% payroll tax to implement.

Oz has gotten a mixed reception from elsewhere in Washington. Pennsylvania Sen. John Fetterman, the Democrat who defeated Oz in 2022, signaled hed potentially support his appointment to CMS. If Dr. Oz is about protecting and preserving Medicare and Medicaid, Im voting for the dude, he said on the social platform X.

Ozs investments in companies doing business with the federal government dont end with big insurers. He and his family also hold hospital stocks, according to his 2022 disclosure, as well as a stake in Amazon worth as much as nearly $2.4 million. (Candidates for federal office are required to disclose a broad range of values for their holdings, not a specific figure.)

Amazon operates an internet pharmacy, and the company announced in June that its subscription service is available to Medicare enrollees. It also owns a primary care service, One Medical, that accepts Medicare and select Medicare Advantage plans.

Oz was also directly invested in several large pharmaceutical companies and, through investments in venture capital funds, indirectly invested in other biotech and vaccine firms. Big Pharma has been a frequent target of criticism and sometimes conspiracy theories from Trump and his allies. Kennedy, whom Trump has said hell nominate to be Health and Human Services secretary, is a longtime anti-vaccine activist.

During the Biden administration, Congress gave Medicare authority to negotiate with drug companies over their prices. CMS initially selected 10 drugs. Those drugs collectively accounted for $50.5 billion in spending between June 1, 2022, and May 31, 2023, under Medicares Part D prescription drug benefit.

At least four of those 10 medications are manufactured by companies in which Oz held stock, worth as much as about $50,000.

Oz may gain or lose financially from other Trump administration proposals.

For example, as of 2022, Oz held investments worth as much as $6 million in fertility treatment providers. To counter fears that politicians who oppose abortion would ban in vitro fertilization, Trump floated during his campaign making in vitro fertilization treatment free. Its unclear whether the government would pay for the services.

In his TikTok videos from earlier in November, Oz echoed attacks on the food industry by Kennedy and other figures in his Make America Healthy Again movement. They blame processed foods and underregulation of the industry for the poor health of many Americans, concerns shared by many Democrats and more mainstream experts.

But in 2022, Oz owned stakes worthas much as $80,000 in Dominos Pizza, Pepsi, and US Foods, as well as more substantial investments in other parts of the food chain, including cattle; Oz reported investments worth as much as $5.5 million in a farm and livestock, as well as a stake in a dairy-free milk startup. He was also indirectly invested in the restaurant chain Epic Burger.

One of his largest investments was in the Pennsylvania-based convenience store chain Wawa, which sells fast food and all manner of ultra-processed snacks. Oz and his wife reported a stake in the company, beloved by many Pennsylvanians, worth as much as $30 million.

Darius Tahir: DariusT@kff.org, @dariustahir Related Topics Elections Health Industry Insurance Medicare CMS Medicare Advantage Pennsylvania Trump Administration Contact Us Submit a Story Tip

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World

Like George W Bush did in Iraq, if Israel breaks Iran it will end up owning the chaos that could ensue

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Like George W Bush did in Iraq, if Israel breaks Iran it will end up owning the chaos that could ensue

Israelis are good at tactics, poor at strategic vision, it has been observed.

Their campaign against Iran may be a case in point.

Short termism is understandable in a region that is so unpredictable. Why make elaborate plans if they are generally undone by unexpected events? It is a mindset that is familiar to anyone who has lived or worked there.

And it informs policy-making. The Israeli offensive in Gaza is no exception. The Israeli government has never been clear how it will end or what happens the day after that in what remains of the coastal strip. Pressed privately, even senior advisers will admit they simply do not know.

It may seem unfair to call a military operation against Iran that literally took decades of planning short-termist or purely tactical. There was clearly a strategy of astonishing sophistication behind a devastating campaign that has dismantled so much of the enemy’s capability.

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How close is Iran to producing a nuclear weapon?

But is there a strategic vision beyond that? That is what worries Israel’s allies.

It’s not as if we’ve not been here before, time and time again. From Libya to Afghanistan and all points in between we have seen the chaos and carnage that follows governments being changed.

More on Iran

Hundreds of thousands have died. Vast swathes of territory remain mired in turmoil or instability.

Which is where a famous warning sign to American shoppers in the 80s and 90s comes in.

Ahead of the disastrous invasion that would tear Iraq apart, America’s defence secretary, Colin Powell, is said to have warned US president George W Bush of the “Pottery Barn rule”.

The Pottery Barn was an American furnishings store. Signs among its wares told clumsy customers: “You break it, you own it.”

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Iran and Israel exchange attacks

Bush did not listen to Powell hard enough. His administration would end up breaking Iraq and owning the aftermath in a bloody debacle lasting years.

Israel is not invading Iran, but it is bombing it back to the 80s, or even the 70s, because it is calling for the fall of the government that came to power at the end of that decade.

Iran’s leadership is proving resilient so far but we are just a week in. It is a country of 90 million, already riven with social and political discontent. Its system of government is based on factional competition, in which paranoia, suspicion and intense rivalries are the order of the day.

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After half a century of authoritarian theocratic rule there are no opposition groups ready to replace the ayatollahs. There may be a powerful sense of social cohesion and a patriotic resentment of outside interference, for plenty of good historic reasons.

But if that is not enough to keep the country together then chaos could ensue. One of the biggest and most consequential nations in the region could descend into violent instability.

That will have been on Israel’s watch. If it breaks Iran it will own it even more than America owned the disaster in Iraq.

Iran and Israel are, after all, in the same neighbourhood.

Has Israel thought through the consequences? What is the strategic vision beyond victory?

And if America joins in, as Donald Trump is threatening, is it prepared to share that legacy?

At the very least, is his administration asking its allies whether they have a plan for what could come next?

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Environment

Canadian study finds that 33% of commercial trucks are ready to electrify – today

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Canadian study finds that 33% of commercial trucks are ready to electrify – today

A new study by the Pembina Institute shows that a third of the commercial trucks and vans on Toronto’s roads are ready to electrify today – while nearly half could be electrified by 2030.

A new analysis by the Pembina Institute titled Electrifying Fleet Trucks: A case study estimating potential in the GTHA finds that as many as a third of trucks in the Greater Toronto and Hamilton Area (GTHA) could go electric today, rising to more than half by early 2030s — insulating businesses from rising fuel costs and reducing harmful air pollution that drives up health care costs. What’s more, the report found that battery range and charging access are less of a barrier than expected.

Real-world travel data from Canadian trucks, collected over summer and winter months, shows that electrification is possible today,” says Chandan Bhardwaj, Senior Analyst at the Pembina Institute. “In fact, with a staggered approach, the GTHA — home to over half the province’s vehicle stock — could reach 50% sales for lighter trucks by 2030, helping offset lower adoption rates for heavier trucks.”

So, what’s holding back electric vehicle adoption? According to the study’s authors, it’s a matter of public policy. But without the right policies in place, the study argues, businesses face unnecessary hurdles in making the switch.

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“Our analysis shows that Ontario has a clear path to accelerating the transition to zero-emission trucks — unlocking economic opportunities, improving public health and positioning itself as a leader in clean transportation,” says Adam Thorn, Transportation Director at the Pembina Institute. “With the right policies in place, businesses can reap the benefits of lower costs while the province strengthens its manufacturing sector and energy security.”

We already knew this


Schneider electric semis charging in El Monte, CA; via NACFE.

If all of this sounds a bit familiar, it’s probably because you’ve heard this before. The California Air Resource Board (CARB) came to very similar conclusions in their report, titled, Determining energy use patterns and battery charging infrastructure for zero-emission heavy-duty vehicles and off-road equipment.

CARB staff believe that several heavy-duty ZE vocational trucks are ready to be electrified because of their low daily mileage demands (<100 mi). Long-haul Class 8 trucks continue to be a challenge to fully electrify because of the long operation range (300+ mi) and on-demand charging need.

CALIFORNIA AIR RESOURCE BOARD

In fact, the California study came to almost the exact conclusion that the Toronto study did when examining the heavy-duty Class 7 and 8 EV market. Which is to say: it’s not a question of capability, but a question of availability.

“The availability of on-road heavy-duty ZE trucks has increased in recent years,” reads the report. “But their numbers remain significantly lower than their diesel and natural gas counterparts. As of 2022, an estimated 2,300 on-road ZE medium- and heavy-duty vehicles are operating in California, with the vast majority located in South Coast Air Bassin (Figure 1). On-road heavy-duty ZE transit buses account for the majority of all on-road heavy-duty ZEVs in California, but, as of 2023, sales of ZE heavy-duty trucks and medium-duty step vans have outpaced other vocations, indicating that these vehicles will be more prevalent in fleets in the near future.”

That’s proven to be true, with sales of Class 2 vans and other medium-duty EVs rapidly outpacing the general public’s adoption of EVs as new options became available in 2024, with no signs of slowing down in 2025 (at least, where the right policies are in place).

Here are some of the key takeaways from the Pembina Institute study from the Toronto truck market. Obviously, it won’t directly translate to every city’s truck fleet – but take a look at Toronto’s demographics and some of the key variables involved (truck size, average loads, miles driven, etc.) and you might be surprised at how similar your city and your fleet might be.

  • Businesses can save up to 40% of fuel and maintenance costs by switching to electric trucks.  
  • Electric trucks eliminate tailpipe emissions, cutting harmful air pollution and improve public health.  
  • Traffic related air pollution in the Greater Toronto and Hamilton Area leads to 700 premature deaths and 2,800 hospitalizations every year, costing health care system $4.6 billion annually.  
  • Ontario’s Driving Prosperity plan highlights the need for increased electrification, while the City of Toronto is targeting 30% of all registered vehicles to be electric by 2030.  
  • Governments worldwide are embracing electrification, setting ambitious sales targets for zero-emission vans and trucks.  
  • By 2030, jurisdictions like Europe, China, California, British Columbia and Quebec aim for about 35% of new truck sales to be zero-emission, ramping up to nearly 100% by 2040.  

SOURCES: CARB, Pembina Institute, via Electric Autonomy; featured image by PACCAR.


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Politics

Latest polling says if an election was held tomorrow Reform UK would win a majority

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Latest polling says if an election was held tomorrow Reform UK would win a majority

Since the local elections Reform UK has had no shortage of good polls.

But a new one suggests Nigel Farage’s party has a chance not only of winning the next election, but of claiming a decent Commons majority, too.

In February, Reform topped a Sky News/YouGov poll for the first time, with Nigel Farage’s party edging in front on 25%, Labour pushed into second on 24%, with the Tories on 21%.

But a fresh one from Ipsos puts Reform on 34%, nine points ahead of Labour on 25%, with the Conservatives a distant third on 15%.

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Zia Yusuf: I sent a tweet I regretted

While the other parties are flatlining, Reform appears to be pushing boundaries.

Were these figures to be replicated across the country at a general election, with every constituency behaving the same way, then Reform could win as many as 340 seats, giving it a majority of 30, Sky News analysis suggests.

Labour could be reduced to 176 seats, down 236 on last year’s election, while the Tories would hit a record low of 12 seats.

But polling should always be taken with a pinch of salt and with the firm acknowledgement that there is not an election coming any time soon.

Conservative backbenchers might also tell you publicly that opinion polls are notoriously difficult to translate into seat numbers because voting percentages in individual constituencies can vary hugely from the overall average.

But the truth is that the symbolism of Reform UK topping another poll is likely to be noticed by MPs from all parties, especially backbench Conservatives who have actively been hoping their leader, Kemi Badenoch, can help them climb the polls and bring the party back into public favour.

Politics is a brutal game and when it comes to toppling underwhelming party leaders, the Tories are more ruthless than most. One wonders how many of these polls Mrs Badenoch’s party will allow her to endure.

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Reeves takes aim at Reform UK

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This poll is also a warning to Labour.

As the party approaches a year since its major victory, it will not have much to celebrate if these numbers are anything to go by.

According to this survey, only 19% are satisfied with the job Sir Keir Starmer is doing as prime minister, with 73% dissatisfied.

And the figure of 25% of voters intending to vote Labour is a level not seen since October 2019.

While abstract to much of the public, polling can often shape not only the chatter inside Westminster but how and when plots by MPs begin.

For Reform UK, this is a much-needed morale boost after a surprise resignation by their former Chairman Zia Yusuf, and then an almost immediate U-turn back into the party.

And Kemi Badenoch – who said during her leadership campaign that the Conservatives needed to go back to first principles and that this would take time – will be wondering, seven-and-a-half months after winning the leadership, how much time she really has left.

Ipsos interviewed a representative probability sample of 1,180 British adults aged 18+, via the Ipsos UK KnowledgePanel. Data was collected between 30 May-4 June 2025.

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