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The United States Fox News national security analyst speaking of -- joins me on the phone Phil Flynn is on Skype.
He's the senior market analyst for price futures group at -- with me right now Fox Business is David Asman.
-- -- gonna start with you Venezuela fifth largest oil exporting countries.
-- tonight right now we have the oil markets just opening what are the oil market's telling us.
Now let's right now there's uncertainty in the marketplace and we jump -- this is also got a spiritually working Americans only and it is I suppose you write out the market is uncertain what's gonna happen next.
-- -- what each one car.
-- KTT yield.
Uncertain what's gonna happen we've had an announcement that a fifty year old bus driver is going to take Chavez's place do we have any idea.
-- if that's true and -- what's more likely to happen.
Guy able pretty immediate future on B vice president -- handpicked -- -- -- That during he will take charge the question is how long can he keep his gains going.
And will bill -- This system that Chavez that up which is basically Robin.
We're going to take the -- -- going to take our our resource is gold or uranium.
-- and give it to the poor that the country's parents aren't stretched out -- -- rational economic system.
Highest inflation rate in the world.
Caracas Venezuela's capital wanted to break dangerous corrupt city -- -- plant.
What will happen now the no longer have to charismatic.
-- who are just anger at America died.
Let's turn to David Asman is actually interviewed chat as at David you here with a Fella incredibly charismatic.
Incredibly controversial deal and very critical of the US you talk to and what's your reaction to.
Tonight well -- and people made a mistake of underestimating him he was as clever person I would say Smart because he wasn't deeply Smart but he was a clever person he knew how to play.
Everybody from politicians to -- to the general population.
When he first came -- first time I interviewed -- -- was in jail I was in 1992 was pulling trying to pull off a coup which failed miserably but six years later he became president.
He became president by pointing out the corruption in the Venezuelan economy.
-- expanded on it well what he did was he turned it into I don't at all and end but under the -- of socialism -- doing it for the people and giving all this oil to the people he learned from Fidel Castro who really was his mentor Fidel taught him.
How to how to use.
OK and so we'll certainly were called Hugo Chavez famously called George W.
Bush out of the -- below the gavel so.
The relationships between these two countries rocky indeed KT -- -- what does this mean for the US going forward.
What if -- question is what does it mean for Q better -- Because.
You battle received a lot of oil that's cities from Chavez browns and ballot well Cuba continue to receive -- -- if the new leaders.
In -- I have to cut back on the social programs due to deal with -- economic problem.
But the -- connection and the why it's always great the national security community is Iran Venezuela.
What's the relationship between the world too bad guys that marriage -- now.
Right on the get a job are Rhonda Chavez the Venezuela was their connection as a -- there -- always report that Hezbollah -- revolutionary guard.
We're coming from Iran they -- going to Venezuela.
There were Hezbollah training camps and Venezuela are they still -- remain.
Is there going to be some kind of as soft underbelly -- to the United States.
From that terror connection that may or may not survive now here's the new leader.
Well and of course we don't even really know ultimately.
Can that new leader will be were not certain -- -- kill you mentioned uncertainty before what's going on in the oil markets.
I said oil prices it popped higher here do you expect them to go even higher how Long Will if this is a trend.
Might it continue.
I income we -- Uncertainty you know that I mean how far does this go certainly this country that -- largest oil exporting country in the world.
I don't not far is what -- The -- hard work we and -- and -- Venezuela.
Not so much -- -- -- that's it -- -- as it is the legacy.
You know he needed -- Venezuela's oil exporter -- secondary.
You know because the production number Venezuela.
You record year after year.
It instead -- -- major oil producer there production actually out our.
Teach wondered what -- and didn't cancel -- Other news.
You just an important one dollars a barrel 200000.
And he did not -- -- I just -- I don't think fills -- right on target what he did was he replaced all of the competent engineers and managers who ran the oil company best Oracle database -- with with his cronies.
He was a crony socialist -- it's a mistake to call on the cronies that capitals but he was a crony socialist he put all of his people in the commanding positions of the economy and they were headed into the ground they put their cousins and friends and their Brothers in law in positions that these people had.
Had no ability yen and and ran all these and -- primarily high oil industry and of the.
Around it's not just oil it's also gold this is a country -- that is chock a block full of natural resource is -- TD yield.
Will this change that's coming ultimately benefit the rest of the world and -- a bit benefit.
And this I think is a critical question venezuelans.
What about them.
Get out of the question is what have spent a -- -- -- an economy which it.
The other two gentlemen have by about it -- the country which has -- and I think out of tickets resource that the vast.
Bridges under the ground and used them if they can't ethically it's people not developed -- I think the question will be -- say six months from now this -- this ball.
-- and Iran gets to what -- either red line is Israel as bad about a run nuclear program.
Does that is -- crisis in the -- -- -- the same time.
That you potentially have a leadership crisis.
In Venezuela because whatever may happen in the immediate term and Venezuela where -- -- -- six months when they can't keep the music going and Eric around -- the.
I think it's positive excuse me I'd love KT but I thought I think there's a positive possibility here that's first of all the oil company could not get worse I think Phil would agree.
It could only improve if they bring back some of these managers.
And the other thing is there was no what are -- replaced Chavez so there's.
There are some very charismatic members of the opposition -- as well have been fighting very hard some of them have ended up in -- been beaten up.
They are gonna come out now and challenger without it Chavez.
Against whom they can challenges out there they're gonna be unit excellent position to possibly take over the government so.
This could end up being very positive.
Kati Phillips David thanks so much for coming on tonight great job fascinating conversation.
We're just gonna have to wait and see all of this play out.