To: KTM rider
The United States is now oil independent of the rest of the world. The US does not need to import oil. As a result of advances in fracking we not only have more than enough oil, we have practically free natural gas. Even at its height, it was rare for more than 20% of Arab oil to come to the United States. In addition to this, Venezuelan oil is heavy crude which requires more expensive refining. Peter Zeihan is a geopolitical analyst. I don’t know if this particular link tells the entire story of Venezuela but it is in his book,
“The accidental super power.” (Good read, I recommend it.)
In a nutshell, Russia and much of the rest of the western world is on the brink of a nonrecoverable demographic and cultural collapse. The US is sitting pretty for some time to come. (Provided we can secure our borders.)
https://www.youtube.com/watch?v=b7TwbqGt4bk&t=8s
and world commodity prices do affect US retail prices