Podcast Summary:

Jill on Money with Jill Schlesinger
Episode: Could Operation in Venezuela Impact Gas Prices?
Date: January 6, 2026

Episode Overview

In this episode, Jill Schlesinger and executive producer Mark Tularcio discuss the recent surprising US military operation resulting in the capture of Venezuelan President Maduro and what potential impacts this could have on gas prices, the oil market, and the broader US and global economy in 2026. The episode blends real-time reactions, a CBS Mornings segment featuring Jill, and a broad, insightful discussion of recent financial trends and practical investment advice for listeners as the new year begins.

Key Discussion Points & Insights

1. Personal Catch-Up and Setting the Stage

• Jill and Mark recount post-holiday illness and New Year wishes, creating a relatable, conversational tone.
• The mood shifts quickly as they underscore the serious and unexpected news: the US has captured Venezuelan President Maduro, which has triggered wide discussions on oil, markets, and potential economic ramifications.
  • Jill: “I certainly did not expect that the United States military would capture Venezuelan President Maduro. Did you?” (03:45)
  • Mark describes hearing helicopters transporting Maduro near his Brooklyn neighborhood. (03:56)

2. CBS Mornings Segment: Venezuelan Oil and Gas Price Impacts

• Key Data: Venezuela holds 303 billion barrels of oil, but three-quarters are difficult/expensive to extract. (05:33)
  • Jill: “About three-quarters of that is very hard to extract from the ground and actually refine. So when we say it is big, it is big.”
• Production Decline: Venezuela used to produce 3 million barrels/day (25 years ago); now it’s down to 1 million barrels/day. (05:47)
• US Involvement: Only Chevron is currently in Venezuela, requiring profit-sharing with the Venezuelan government.
  • Other companies would need to invest billions in infrastructure for any serious production increase. (06:26)
• Short-term impact on gas prices:
  • Jill (07:01): “In the short term, there will be absolutely no impact at the gas pumps. Absolutely none.”
  • Positive news: Oil was down 20% in 2025, and gas prices are already (as of this episode) 25 cents lower per gallon compared to a year ago. (07:10)
• Long-term potential: Effects on supply (and thereby price) depend on many uncertainties, requiring years of investment and stable geopolitics.
  • Jill (07:44): “There are so many factors at play. It’s not as easy as we extract this person and all of a sudden our prices at the pumps go down.”

3. Market Recap: The 2025 Surge Across Asset Classes

• Price Trends: Many listeners unaware that oil/gas prices have dropped—everyone talks about rising costs but not falling ones. (08:36)
• Stock Market:
  • S&P 500:
    • Down 19% in spring 2025 due to tariffs, but finished the year up 16.5%; third consecutive year of double-digit gains.
    • 2023: +24%, 2024: +23%, 2025: +16.5% (09:15–10:10)
    • Jill: “That is incredible, isn’t it?”
    • Mark (joking): “It’s never going down. Never again.” (10:10)
  • International Stocks:
    • Fund tracking non-US stocks returned ~33% to US investors in 2025. (10:15)
• Bonds & Precious Metals: Both saw positive returns.
• Bitcoin: Down 7%.
• Crude Oil: Off 22% for 2025. (10:44)
• Mortgage Rates: 30-year fixed ended 2025 at 6.15%, lowest for the year but still psychologically high for many buyers. (11:25)
  • Mark: “I think once it gets into the fives, you’ll start seeing a lot of movement.” (11:48)

4. Investment and Economic Philosophy for 2026

• Unpredictability: Neither Jill nor Mark claim to know what will happen in 2026.
  • Jill: “Nobody knows. That to me is the most important thing to remember. Very few people can guess. And you know what the good news is? You, you don’t have to.” (12:19)
• Actionable Advice:
  • Know your financial goals and current situation.
  • Develop, follow, and periodically rebalance a diversified plan.
  • Tune out the financial news “noise.”
  • Passive investing and planning beats attempting to time the market.
    • Jill: “You know what people who know advocate? They advocate passive investing, they advocate conducting financial plans and they do what the great David Booth of Dimensional always advocates. They tune out the noise.” (13:55)
• Listeners encouraged to reach out and share their financial questions.

Notable Quotes & Memorable Moments

• On Venezuela & Oil Supply:
  • “When we say it is big, it is big. Over the long term, if there is an investment. What we’ve seen in Venezuela is over the last 50 years, this is a country that has seen its oil production slide.” (Jill on CBS, 05:33)
• No Short-term Impact:
  • “In the short term, there will be absolutely no impact at the gas pumps. Absolutely none.” (Jill on CBS, 07:01)
• Surprising Stock Market Comeback:
  • “We finished the year...about a 16.5% increase in the S&P 500. Now what makes that even more remarkable is that is the third year in a row of double digit gains.” (Jill, 09:15)
• Advice for Listeners:
  • “All you have to be is somebody who conducts a financial plan, you know where you stand, you know what goal you’re trying to achieve...and you just let it go.” (Jill, 12:19)
  • “Tune out the noise.” (Jill, 13:55)

Timestamps for Important Segments

• [03:45] — Jill and Mark discuss the surprise news of Maduro’s capture and New York’s atmosphere.
• [05:11 - 07:49] — CBS Mornings segment: detailed analysis on Venezuelan oil’s potential impact on U.S. gas prices, short- vs. long-term effects, and required investments.
• [09:15 - 10:44] — Year-end review of stocks, bonds, Bitcoin, oil, and international investments.
• [11:25 - 11:54] — Mortgage rate updates and implications for homebuyers.
• [12:19 - 13:55] — Advice on market unpredictability, passive planning, and ignoring daily market noise.

Tone & Style

• The tone is affable, dryly humorous, and reassuring—Jill and Mark share personal anecdotes and “real talk” advice.
• Financial jargon is minimal, with concepts explained simply and matter-of-factly.
• The episode is punctuated by playful exchanges and memorable, no-nonsense financial wisdom.

Key Takeaways for Listeners

• Venezuela’s oil extraction challenges mean no quick relief at the pump is coming from recent events—even dramatic geopolitical ones.
• Despite wild swings, 2025 ended up as a banner year for most asset classes.
• The best investment approach is to plan, diversify, and stay the course rather than reacting to news headlines.
• The show invites listener engagement—questions and interaction are encouraged without intimidation.

This summary covers all major content segments and central messages, skipping over commercials and administrative content.