World News

51798 readers

2494 users here now

A community for discussing events around the World

Rules:

Rule 1: posts have the following requirements:
- Post news articles only
- Video links are NOT articles and will be removed.
- Title must match the article headline
- Not United States Internal News
- Recent (Past 30 Days)
- Screenshots/links to other social media sites (Twitter/X/Facebook/Youtube/reddit, etc.) are explicitly forbidden, as are link shorteners.
- Blogsites are treated in the same manner as social media sites. Medium, Blogger, Substack, etc. are not valid news links regardless of who is posting them. Yes, legitimate news sites use Blogging platforms, they also use Twitter, Facebook, and YouTube and we don't allow those links either.
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed. Sources that have a Low or Very Low factual reporting rating or MBFC Credibility Rating may be removed.
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF OCTOBER 19 2025
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.

Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world

Recommendations

How to spot Misinformation and Propaganda

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

Consider including the article’s mediabiasfactcheck.com/ link

founded 2 years ago

MODERATORS

NewsAutoMod@lemmy.world

Tenthrow@lemmy.world

little_cow@lemmy.world

lemmyAtom@lemmy.world

jordanlund@lemmy.world

Canadian, U.S. markets rise after raid on Venezuela as oil market comes into focus (www.coastreporter.net)

submitted 3 days ago* (last edited 3 days ago) by supersquirrel@sopuli.xyz to c/world@lemmy.world

7 comments fedilink hide all child comments

“We know that Venezuela has the world's largest reserves of oil, and we know they're certainly underproducing their prior peaks by quite a wide margin, just about one million barrels of oil versus peak levels of over 3.5 million decades ago,” Madden said.

“But I think it's a leap too far to think that all those barrels are going to come immediately back to market and flood the U.S. Gulf Coast and Midwest refineries with Venezuelan heavy crude.”

...

Madden said he thinks the situation in Venezuela will have a muted impact on the U.S. market. He said Venezuela is a smaller player in the global economy, with a mostly non-existent trading relationship with the U.S. due to sanctions.

“I think the market is signalling that it's business as usual, so I think we have to distance the legal and the moral value judgments from the economic reality of it,” he said.

This is about oil, but it isn't about necessarily pumping more oil NOW, it is more like a diamond mine buying up (well in this case seizing by lethal force) diamond reserves... to keep anyone else from digging them up and driving down current prices.

Venezuelan oil MUST remain off of the world markets by and large in order for the current glut of oil production not to be an economic dead end for oil production companies in the US and elsewhere who overcommitted in a world where EV vehicles are proliferating at a rapid pace.

Ironically the US attacks on Venezuela are about the most anti-capitalist anti-competitive behavior you could imagine.

you are viewing a single comment's thread
view the rest of the comments

[–] SillyGooseQuacked@lemmy.world 7 points 2 days ago (1 children)

Venezuelan oil MUST remain off of the world markets by and large in order for the current glut of oil production not to be an economic dead end for oil production companies in the US and elsewhere who overcommitted in a world where EV vehicles are proliferating at a rapid pace.

Iirc Venezuelas production is down because it's facilities can't process as much oil as at peak without multi-billion dollar updates and repairs.

I think it's more likely the Trump admin gives US oil companies subsidies to take the oil out despite it being anti-capital and anti-competitive; those two things are his whole MO whenever he thinks capitalism isn't beneficial for him personally.

But this whole incident strikes me more as a case of projecting US power than seeking petrol dollars specifically. Like, that's part of it, and not all of it.

[–] supersquirrel@sopuli.xyz 3 points 2 days ago* (last edited 2 days ago) (1 children)

Yeah it is definitely about more than the oil, but insofar as it is about oil I am completely unconvinced this is actually about pumping more oil, it doesn't make basic sense in the context of the oil market and the glut of US oil production supply being extremely poorly positioned for the current oil market.

This only makes sense if Trump is trying to keep oil prices from dropping further, not drive them down even more.

[–] SillyGooseQuacked@lemmy.world 2 points 2 days ago

It can make sense in other ways too imo.