Russian officials indicated in 2019 that the Kremlin would be willing to back off from its support for Nicolás Maduro in Venezuela in exchange for a free hand in Ukraine, according to Fiona Hill, an advisor to President Trump at the time.

The Russians repeatedly floated the idea of a “very strange swap arrangement between Venezuela and Ukraine,” Hill said during a congressional hearing in 2019. Her comments surfaced again this week and were shared on social media after the U.S. stealth operation to capture Maduro.

The attack on Venezuela and the seizure of its president was a shocking enough start to 2026, but it was only the next day, when the smoke had dispersed and Donald Trump was flying from Florida to Washington DC in triumph, that it became clear the world had entered a new era.

The US president was leaning on a bulkhead on Air Force One, in a charcoal suit and gold tie, regaling reporters with inside details of the abduction of Nicolás Maduro. He claimed his government was “in charge” of Venezuela and that US companies were poised to extract the country’s oil wealth.

U.S. energy markets and policy are heading toward the equivalent of a multicar pileup in 2026.

The key factors are consumer frustration with rising energy prices, Trump administration policies that are making the problem worse despite promises to make it better and a growing awareness that investment in AI data centers is part of a bubble that could pop at any time.

1) To produce them or
2) To plunder them.
When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time, a legal system that authorizes it and a moral code that glorifies it.

-Paul Valery

n 30 May last year, Kim Sajet was working in her office in the grandly porticoed National Portrait Gallery in Washington DC. The gallery is one of the most important branches of the Smithsonian Institution, the complex of national museums that, for almost 200 years, has told the story of the nation. The director’s suite, large enough to host a small party, has a grandeur befitting the museum’s role as the keeper of portraits of the United States’ most significant historical figures. Sajet was working beneath the gaze of artworks from the collection, including a striking 1952 painting of Mary Mills, a military-uniformed, African American nurse, and a bronze head of jazz and blues singer Ethel Waters.