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So thousands gather -- -- as well following the death of President Hugo Chavez so what is next for the country.
Well the impact be on -- oil supply joining me now is Michael economy -- a professor at the University of Houston.
Thank you so much for joining us I -- -- near media reaction what do you think happens from here.
I mean I'm chart that categories in -- is that it -- -- what do you keep the digital television book about somebody's -- But -- -- what I've been doing it all morning.
Or if it breaks down from there because as we look at exports out of Venezuela had been running even lighter production even lighter.
At this point a lot of people believe that you need.
You know sort of that -- back to be six and in terms of the oil industry it's unclear gonna get that would backed candidate what -- -- What does have that -- all of these things -- legitimate concerns -- Chavez.
Cut both the ideology and that -- he's not okay -- doesn't he doesn't have probably either one of those two.
The situation on that is not over that John is indicted estimates.
-- is nothing new lemon has beaten stabbed at more than they give it -- -- -- -- dragging us.
Bob so what's gonna happen -- -- that most likely this -- -- would did give your -- they'd trust upset even as the allies in that it won't can be -- American oil production in the United States is bound to affect Venezuelan economy public cause that will be the all -- us or him to be displaced.
-- lot of market in the United States so I mean the whole thing doesn't bode well for the success -- People who would job is especially in the guy doesn't have a cutting the -- But Chavis god in his -- -- -- in the near term do you figure the price of oil goes higher.
Yeah yes that and all -- I expected the wolf I have what other liaisons at either federally this occasion to minute but I don't wanna have -- avoid them it was put any.
Downward trend toward the -- a -- Yeah I we're looking at a chart today -- and the price -- crude futures are sinking right now by better than 1% a lot of that has to do with the fact.
That this event in particular.
-- it was expected yet been sick for a long time it was more than a two year battle.
But what it really means for the long term price of -- what a lot of people are looking at.
Because they are supposed to have either the biggest oil reserves of the second biggest oil reserves depending on -- report you believe.
But if they are unable to get organized to get that -- ground and allow outside investment in the long run it does hurt world the west right right.
For sure at that that have brought you my infrastructure -- even as well -- DT the only that -- -- beyond that Travis.
The -- that that -- -- involved in the oil industry.
They know something like -- vows on -- -- -- that -- jobless level of -- it.
Major strides in in the say that it negative all.
Use even as -- that trade do what -- -- what in the what I need them.
In the -- don't know what his site video footage that's that I under the minute lot of look at in these -- buckled.
Let's remember what the ability of a edible so they're -- was you you get the situation on an as well is in fact in major emotional crisis.
Michael economies thank you so much for coming on.
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