Oil Jumps After Explosion And Massive Fire At One Of The Largest US Oil Refineries

Top US Diplomat Takes Post In Caracas As Part Of Post-Maduro Transition Plan For the first time in many years, the United States has a top diplomat officially in residence representing Washington to Venezuela. Veteran US diplomat John M. Barrett has arrived in Caracas to serve as chargé d’affaires at the US Embassy in Venezuela, the mission announced Thursday, marking a new phase in Washington's diplomatic presence in Venezuela, and after a US military raid on Jan.3 ousted and captured longtime leader Nicolás Maduro. Image via Prensa Libre Barrett is a career member of...

Drawing on Man, Economy, and State, Dr. Jonathan Newman walks through Rothbard's theory of price formation and competition, showing that prices reflect subjective preferences, not seller greed, and that the only consumer-harming monopolies are those created by the state.

In Charts: US Does Not Rely On Strait Of Hormuz Oil While Asia Stands To Lose Authored by Sylvia Xu via The Epoch Times (emphasis ours), The Strait of Hormuz has been called the jugular vein of the world’s oil supply, and as Operation Epic Fury continues, Iran continues to have a chokehold on the critical supply route. About one-fifth of the world’s oil and gas is typically shipped through the narrow waterway connecting the Persian Gulf to the Arabian Sea. But Iran’s attacks on commercial vessels have brought traffic through the strait...