Maduro Exit has No Impact on Idaho Gas Prices

I noticed the price of gas didn’t budge over the weekend.  This follows the removal by force of the President of an oil-rich nation.  But with production in Venezuela already wheezing along, and the world currently awash in crude, we didn’t see any price shock.

Media Ramps Up the Fear of High Prices

Still, news media bias can’t help itself.  I compiled a few headlines about oil markets, which opened Sunday afternoon (4:00 p.m. MT).  You’ll notice the first headline is straightforward.  It comes from a staid financial publication.  Oil prices are status quo.  The other two headlines that follow come from publications based in America, and betray more than a hint of Trump Derangement Syndrome.

Oil prices fall after Trump strikes Venezuela

            Financial Times

Oil Markets Stable but Nervous

            Bloomberg

Oil Prices Swing After US Captures Venezuela’s Maduro

            NBC

Gee, the price didn’t go up, but we all know Donald Trump is a meanie, and for that reason, we could see the end of the world shortly!  Just give it time, and you’ll learn to hate him as much as the newsroom liberals do.

Politics and Cost are Two Distinct Things

You can bicker among yourselves about the constitutionality of Nicolás Maduro being plucked from his country and brought to New York, but when it comes to the oil market, no change.  And there probably won’t be for some time.  Because, despite the huge reserves of oil in Venezuela, the infrastructure for production could take years to restore.

Oil consumption around the world is actually expected to slow somewhat by mid-century, or at least according to the lefties opposed to its use.  Then why all the talk about controlling Venezuela’s supply?  Because that keeps it out of China’s grip.