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Much so Venezuelan President Hugo Chavez in the fight of his life he's running for reelection this weekend.
And saw that after fourteen years in power he actually lose this time.
What would that -- for the price of oil around the world joining us now is Michael economies the professor at a professor University of Houston the author of America's blind spot.
Job as oil in US security.
Professor thanks so much for joining us we really appreciate your time.
Let's get right to Italy you know I think down a -- -- for OPEC meetings and the whole time we were there they had machine guns trained on -- I mean it was like Chavez has this country in such a grip.
It is very hard for me to believe my own personal experience that he could lose an election.
When you think.
Most people think so you'd never know -- and that -- is that I stage.
Chavez is a unique south -- -- -- phenomenon -- about.
-- populism died with communities of twenty as a goal is alive and well in Venezuela.
It has effective -- the that would have on what -- this.
And of course they've mother and -- -- -- what I did he not with -- that kitchen she was in the end users and -- With a -- about drugs -- -- -- again is on so you'd never know.
I yet I hope that he's not when are we in because is clearly not the -- Venezuela.
Not the -- of that region not the news for the United States.
Yeah I mean in Q do you think they have free and fair elections backed European and.
I think it is great to be so he had -- -- seeing this time around.
I'll all of goal I would -- -- -- I have taught many Wyman has -- on friends that I have -- seat Chavez giving their way -- got to leave.
This shots they -- presidency using what I mean salt -- he's.
He believes that kids -- these little exists that is.
He's found them on the credibility is among -- or another whether it's cot when he let -- -- your own government -- the only embodiment of credited his and we give it up.
Yet no absolutely.
Let's talk about his challenger a little bit this is Enrique.
I'm gonna say his last name -- -- let's thank you for the he's forty years old he's sort of lack items senator but I mean.
That's far right compared to act compared to Chavez right what would he need for the country.
And the need for oil because basically they both promise to increase oil production by six million barrels a day.
Witches which is insane because right now they produce one point seven million barrels -- production in fact is down 25%.
So those are both need to sort of crazy -- but what what would this other -- mean for the country in oil production.
Well company let's try to -- to make another -- -- Simon even as well -- name is well known as you well educate that.
He's like he's like a -- He's young so he's got all of the -- -- say he all bomb highest.
Kind global quality Islam and as well -- -- so I would say that he's got it.
If Fiat chance out -- -- they've always.
Op you know the but it does this rate case because they're bad -- cabinet but employee in the Chavez is that they've kind of -- -- mile.
-- seven -- -- -- it all even -- -- he's that it used to MIT.
So the ad is does -- way that the prize of all of that that he's gonna drive the drug use six media about a debate and reality should keep several -- They had that it's.
The problem is us the United States.
I mean we -- ourselves -- of -- thought is that with the Keystone Pipeline pop up I've read is that Buffett that it be not approved.
I would imagine that we'll have it devastated me about -- yeah.
These what have a bigger impact on on our relationship -- him than anything else.
We've got to do this again we're out of time professor economy it is it is so great to see you gonna -- become accident.