The David Lin Report ‘Act Of War’: U.S. Strikes Venezuela, Will Full-Blown Conflict Crash Markets? | Doomberg
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Dec 30, 2025 
Doomberg, head writer of the influential Doomberg Substack, dives into the geopolitical complexities surrounding U.S. strikes on Venezuela. He examines the puzzling legalities of military actions and discusses the escalating U.S. naval presence reminiscent of the Cuban Missile Crisis. With a focus on Venezuela's oil reserves, he analyzes market reactions to geopolitical tensions, asserting that current supply levels temper price volatility. Doomberg also explores broader themes like U.S.-China relations and the consequences of cheap energy on economic growth.
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Venezuela Strike Is Geopolitically Puzzling
- Doomberg finds the US strikes on Venezuela legally and geopolitically puzzling and calls embargoes acts of war.
- He notes markets appear calm because Venezuela's current exports are small and oil is plentiful globally.
Limited Oil Impact From Venezuelan Conflict
- Doomberg argues a full-blown US war with Venezuela would pose risks but likely be containable and manageable by global oil markets.
- He emphasizes Venezuela now exports only about 600,000 barrels per day and much of that goes to China.
Oil Equilibrium Around $55 A Barrel
- Doomberg and David note oil markets are well supplied and trading houses predict a near-term glut for 2026.
- They place an equilibrium oil price near $55 per barrel, implying limited upside absent major supply shocks.