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They turn it over to -- -- now the -- report to get another opinion on the phone.
I'm -- -- could only imagine what kind of chaos this throws the country to Steven -- -- there yet I yeah.
I -- I and I was down in Venezuela for an OPEC meeting not too long ago.
You know we were for a lot of the meeting really.
You know corralled.
At gunpoint and it's it's -- military's state and now you see the leader of that.
You know passes away there's a power vacuum what do you think happens now in and what happens oil prices.
All right well I think it's what's gonna happen and I easy transition over -- vice president majora.
Now what we've seen in what we've heard from him that in the past leading up to the event because obviously this was not.
Eight surprised -- bad.
Is that he's just.
Fit in that same mold that political hot hot cardiology.
Essentially taken the state owned oil company database which was to -- a deep well old blonde -- pretty up.
Up until 2003.
When an attempted coup which Chavez came back in -- -- a basic -- anti should bet that the time.
Keep purged all of the expertise -- companies and that your previous guest John just said that he's pretty much turn its state oil company.
-- odd -- significant amount of the world's oil.
Into the industry joke right now so essentially.
If you're now is ship that's probably at about ninety per -- -- as well as.
-- oil -- butchered in the door just seemed to be.
Cut in that same -- that is mold but if -- here Melissa is it that he does about the same charisma.
I should -- happens.
Even though -- from the same political bill he is more or less to -- Al Gore -- -- -- Bill Clinton at this point so it's pretty much going to be.
-- the status quo.
I've been a spot oil production and it never recovered since -- national strike in 2000 and rates.
Bottom along -- two million barrels a day to at this point.
We've got a -- change but we've -- -- can't -- -- I guess sappy did you -- atop her cancer that you think this is going to be nice smooth transition.
I I absolutely because I think.
At this point Melissa there really is a boy he'd -- the opposition yeah opposition and as well has been trying to unseat chip guys -- came into office.
And it's pretty much proved to be a keystone cop operation.
That -- basically -- -- debt issue that has bed and keep in mind which event came to office oil prices or ten dollars a barrel.
Oil price to shut up 250.
Dollars a barrel and the best GDP it is well look at managed -- -- two point 8%.
Got about half of what -- group.
It'd -- GP GDP has been -- -- Produces more concludes been -- -- And therefore there's the economic growth this book horse recruited to be better as well it was bad -- that has been act ruling.
It directed -- economy the opposition has been even worse Steagall I don't.
-- at this point.
You don't -- that it's gonna cause a huge -- but I would say you know off the top my head I think that we import about 10% of our oil from Venezuela.
Well of course is fungible it goes all over the place yes.
What do you think it means for prices.
Right now look at -- -- behind -- -- is well it is the second largest.
Indeed the most the second largest supplier of crude oil to the United States.
-- this gets back down to our own domestic production.
You got stated -- producing a couple of more oil.
Didn't we were just a few years ago that's your point so we still we are certainly not -- pole -- to some sort of the that is what -- oil strike as we -- ten years ago but that's it still -- a significant amount.
-- any sort of if we see some sort of disruption but some sort of civil uprising akin to what we -- -- years go to Libya during -- civil war.
Then that certainly would be a catalyst.
For higher oil prices.
But we also have to keep in mind.
That is well it is and it is very dire economic street because the country -- -- -- -- need to sell the oil so if I highly unlikely -- any sort of -- -- cash more than either oil.
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