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University of Houston Professor Michael Economides on the impact on Venezuela and global oil of the country’s uncertain leadership.
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-- -- -- thanks so much in less than a week from now that Chavez is sent to be sworn in first third six year term as the president Venezuela.
But now -- Spanish newspaper is reporting a leader is in -- reduced coma and is on life support in Cuba.
Chavez has been battling cancer has not been seen since December 11 that is when he returned to Havana.
For his fourth cancer surgery all of this -- the government of the Western Hemisphere's most oil rich nation in limbo.
Michael economies as a professor from the University of Houston.
Michael thanks much for coming back from the show always a pleasure to have you.
-- -- So tell me how big a deal do you think this is to the world of -- And end how dire do you think this situation -- Well that I have -- they have for sure I mean this is gonna be on handled -- thoughts -- I'm not sure what I'm and the 1 that I am IT that dot Chavis -- these -- was set of buying up that Chavez.
I thought about what -- -- them died with communities that money -- -- that.
-- the yes hello -- is alive and well even as flat lies in what -- -- not did give up.
So -- but I see these stop.
What -- is them that is decided in the -- -- medic and by the way.
Because -- nothing in -- Dynamic position in the -- -- the continual and is affecting not because that is let baskets of 75 -- gun battle Deloitte.
Yet -- they have a ton of oil but it seems like this become to a head really quickly article 233 of their constitution says that.
When elected president becomes permanently unavailable to serve prior to his inauguration.
That's -- talking about there has to be in new election within thirty consecutive days as we said.
He's due to be sworn in.
Next week but if he's in a coma.
Conceivably that can't happen as far as we know all -- I mean I don't need I wouldn't put anything past anyone.
But you would have to have an election within thirty days until he has said this former bus driver -- he's trying to say that this would be.
That logical successor I'm not sure everyone in the country supports that I mean it seems like this could suddenly come.
To a crisis level.
You -- right at the you know by the lord to give -- as well not.
Husband beating -- they in prime quantity over the last -- seven and yet.
That -- exactly nebulous right.
And in fact in that while -- election on its.
Company less cool but I do believe it is for the book I've been a good job that is -- -- excuse you'll -- the don't leave that he may have a political chance.
A sold.
Really I -- -- Would offset the DW -- yet also sold given and the speculation from Venezuela.
And applause and at that you have kept the issues such as this.
I mean how many do what I question mean he Hawaii they leave government as -- -- a book to be that he just.
Companies in the in in the heaviest the -- he's in Cuba.
That in itself obviously it is but applause that I do you realize -- -- Well let me give -- -- out of time what do you think is the worst case scenario for oil prices I mean what should we be guarding against here.
I don't think much.
Some of -- about -- big companies have got you -- -- -- I have suggested Evan is that I actually movie.
Influence.
Because I'm medic on oil production is going not.
And of course China nice over the have to buy evident from everybody solvent as -- -- -- wrong get what it used to be.
We've probably -- -- they should get themselves.
In -- they have a rightful position on but Chavez wasn't what I do that anyway Seoul's state Cuban as -- I will play a role.
But he's not going to be what it used to be put -- -- interesting are -- professor economies thanks so much for coming.
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