Venezuelan Seizure of Oil Fields a Footnote to

May 1st, 2007 6:10 PM

The screencap at right is a few hours old, but the visual was striking to me.

Notice how "STALLED: Slow auto sales blamed on housing market, gas prices" and "Fuel cost rise is fast, furious" are stories with prime real estate and a visual aid.

But also take note of the top item in the "In the news" digest:

"Venezuela takes over oil field operations from big firms."

Geopolitical instability and inefficient allocation of resources from state-run oil enterprises in Venezuela and other oil-producing countries are one factor in the rising cost of petroleum products. Unfortunately the way Chavez's May Day oil grab is being reported, it's little more than a footnote.