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So Israel does the biggest challenges is that -- is fourteen year were all but he won another six years as president of Venezuela in yesterday's elections are much for that.
So what does his grip on power mean for the country's state oil company.
And are -- bound to see even less oil production than there is now with me now is -- of callables.
As -- former Venezuelan congressman and we -- Michael economies professor at the University of Houston gentlemen thanks for joining us so Michael you know we spoke on Friday.
He won again it was it free and fair what do you think.
Populism works if you have money.
What does that mean.
What I mean it's not become by the -- -- I mean he's a dead body.
Basically on on me begin that -- throw all of oil and money.
You cutting that borrow all pay for populism is that the that being proposed in that I was not yet also -- I did give -- the boring kind.
Chavez is they pay in kind.
-- -- -- I know I -- not I was there are a couple of years ago in the country is following are down.
Around his ankles I mean I don't -- can you really buy votes in a country where -- a lot of people living.
And pretty miserable condition.
Yes there are enormous our problems in Venezuela on the economy the safety of the -- -- Public services.
All of those remain.
Important issues and that is why in -- lease -- the opposition grew so much in this election.
Is not only united but Enrique company in this -- -- is able to.
To get six and -- million votes cast that for him.
In a situation where not only money on the -- state payroll.
It's also the the the -- communication.
Power -- that the government has in his hands let me just give you a number that is incredible.
-- 47 hours of mandatory transmissions.
Off presidential speeches.
-- both private and -- -- media have to comply with.
-- in in terms of coverage I have the numbers here is 180.
Hours of media coverage for the president down his campaign against -- -- seven hours for capriles.
So you know it's it's -- it's it's difficult.
It's said these -- -- -- there that you know.
I don't -- -- you know I was different OPEC meeting in the Saudi said -- be would probably not be happy with me repeating this the base at all in Chavez's -- he just goes on and on -- on he never stops.
That's what you just said we did -- boats or does it for the audience to death do you think this -- free and fair election.
Their might be people that get -- but they might be there are a lot of people that -- On the import this year is that the other message doesn't get doesn't gets a crumbling -- a cross I mean it's not a how do you get enough exposure.
Capriles beat -- an incredible -- around the country he dissident house by house.
More then in -- in half a million people.
He went to 300.
-- -- body is in a country of 335 municipalities a knock on doors he.
Close campaign in -- -- yeah that had only.
That legal media coverage -- -- seven hours against 100.
Eighty nothing -- don't yet know I -- Michael neck and and you want that thinks this is actually bad for oil production -- -- -- because basically.
It doesn't behoove him to have more oil on the market right explain that to -- What absolutely he -- -- Honda borrowing and -- habit about a lawyer he's a thousand pound bloody lot.
Seven give a lot of oil and -- that it -- -- monkey.
An assault against that I've ever gonna give follow up to maintain that include all been.
It used in production on he has done everything they give power to do without you realize that has -- -- uses and that's all you today.
On the Fed's much about it today John in -- seventies.
That hold -- the Buffy asked is he said these ops that.
And so we haven't yet he needed to take at -- com -- The way I think to get -- that Chavez.
Is school inquiry into these sorts of avoiding in the United States he brags about -- given an occasion Libya Iran and Dubai and so on.
But do realize he's right with the United States is they -- 95% of his trade yeah how floor.
If -- final -- muddy water supplies -- He had he had big -- -- -- -- bodies by the in the United States yeah bad that would have a -- I would take away as -- -- -- although let me ask you to react to budgeting that would be I mean you're you're a former politician in the country would that make a big difference.
I don't agree with any thing that has to.
Engage in unilateral actions.
-- sanctions are or anything that is threatening to the Venezuela.
Nobody is definitely we will produce more oil here and we get more of our own oil we wouldn't need his it would I'd just make it must -- and act -- I think it I think it is good for the US to for the use more oil.
And that has -- -- should for the use more oil the Chinese are.
You know -- -- a lot of that resource and and in fact if you look at the men as well and.
Structure right not a significant part of Venezuela's vote for the auction is latched.
Us feature production for payment -- for re payment of that Chinese.
Off financing facility with a government which amounts to more than forty million dollars so so what would demand as well I -- would like to see is.
Is our man has went up for the using more oil and and it's it's it's -- that it's the man being -- And I.
On the that -- -- -- government that they engage in -- in any policy that will.
Do the investments any trees are all capacity and because SOS supplier in the world that is reliable we gotta run guys thanks great discussion we appreciate your time -- --