Energy News Beat
Highlights of the podcast:
01:02 -Guyana is standing on its own
02:08 -Hess and Chevron
02:50 – Guyana’s 11 billion barrels in reserves
05:41 – Inflation rate in Venezuela
08:37 – Financial assistance from China
11:51 – CapEx investment into new wells
13:43 – The Monroe Doctrine that’s been in effect in the United States for 200 years
17:55 -The Permian and our other basins
22:15 – BRICs and OPEC Plus are going to play into the Brazilian oil markets
29:36 – Offshore Guyana is a major focal point of the capital budgets
The Podcast Hosts for The Energy Transition
Energy Thought Leader, Podcast Host, Curitiba, Parana, Brazil
International Author writing about energy, mining, and geopolitical issues. Bulgaria
Principal at DB Energy Advisors, energy author, and podcast host.Principal at DB Energy Advisors, energy author, and podcast host.
Energy Consulting Specialist
Energy Analyst | Economic and Geopolitical Analyst | ExFounder U&I Global | Consultant, Advisor | Commonwealth Scholar
President, and CEO, Sandstone Group, Podcast Host
Blubrry Podcast:
Armando Cavanha [00:00:02] Energy transition. 90. Venezuela wants Guyana’s oil. Some some people talk as Guyana pursue Guyana but internationally I suppose is Guyana. Good morning David Blackmon. Let me show more light. Yeah. His LinkedIn. Good morning. Stuart Turley. His LinkedIn page.
Stuart Turley [00:00:28] Good morning.
Armando Cavanha [00:00:29] And good afternoon. Dr. Tammy Nemeth. This is her page. And so.
Tammy Nemeth [00:00:39] Yeah. Armando.
Armando Cavanha [00:00:42] Yeah. So very good to see you both. Please let me share a video that’s short one. 40s. From Exxon Mobil president?
CNBC news Interviewer [00:00:57] Well, I mean, they can’t defend themselves at the Venezuelan’s decide. They want to do something.
CNBC Darren Woods [00:01:01] I’m not sure Guyana is standing on its own, to tell you the truth. I think, you know, there are a lot of. We’ve all seen what happens when nation sovereignties are challenged and unilateral actions take. And I think the world and our states community have grown pretty sensitive to that. So my expectation is there’s more support, more broad, more broad support in the international community to make sure that the right processes are followed to resolve this dispute. From our perspective, we know what we need to do in-country, develop those resources economically, environmentally, responsibly and do what we’ve been contracted to do. That’s what our organization is focused on.
Armando Cavanha [00:01:39] I’m not sure Guyana is standing on its own. Stuart Turley for own companies, short European and place. Is it better the reserves be in Guyana or Venezuela?
Stuart Turley [00:01:52] Well, I’ll tell you. Just to start it off, thank you so much for having me this morning. Good afternoon. Good evening. Everything else I love love your interviews, intros. Guyana, I don’t think can stand on its own. And when you have Hess and Chevron, you know, and they’ve been supporting it and then you have Maduro, who has been in charge for Venezuela. The only reason that man is in charge is because he has made all of his generals millionaires. He takes care of his generals. The generals take care of the colonels. The colonels go out and they take care of the sergeants. Sergeants go out in the street and beat the snot out of everybody. And so that’s how he’s keeping control. Guyana has a tugboat out there, and they call that their navy. And we’re doing ships out there with them. David, you’ve had probably the best single stories out there. But Guyana’s 11 billion barrels in reserves, they’re only doing about 400,000 barrels per day. Now, that could be three X in a few years. Here’s the gotcha. Why is Maduro going after Guyana? Is because the great Venezuelan oil machine has been crippled for so many years due to his corruption. And if he shows up on my doorstep, you’re going to see me jumping under my desk. But it’s because of the corruption. They’ve destroyed the Venezuelan oil fields. So why is our president, President Biden, relieving the sanctions on Venezuela to get more oil to the market? Because he can’t steal any more from the strategic oil reserves. And so this chess match going on with the Biden administration is basically put the thumb under Guyana and either intentionally or unintentionally, I don’t know yet, but it’s because of stupidity in geopolitical. And I hope I didn’t cross the line or if I made sense, which is rare for me on a Monday morning. I notice David’s over and damn, you’re both going,.
Armando Cavanha [00:04:13] Oh yeah,.
Stuart Turley [00:04:15] Pull him off the stage. Pull him off the stage.
Armando Cavanha [00:04:17] You brought some good points, David, because. He mentioned the 11 billion barrels of recoverable reserves and the production was 3 million barrels a day. Now is. 700 going to 1.2. They are forecasting 1.2, 1.4. How do you see this amount of money being, let’s see, not in a war?
David Blackmon [00:04:45] Well,. You know, Venezuela is by many estimates, the wealthiest country in the world in terms of just pure reserves of crude oil. And yes, Maduro and before him, Hugo Chavez. I mean, the Venezuelan oil and gas industry was very vibrant when Hugo Chavez took over in 1999. Chavez didn’t do all that much to destroy it until he decided to confiscate the holdings of foreign countries or companies in his country. I was at Shell when all of that began to percolate up to the top in 2007. Maduro has completely collapsed his industry and this whole country’s economy. The inflation rate in Brazil, you know, we Americans whine about a 6 or 8% rate of inflation. This year’s inflation rate in Venezuela is 359%. And that’s a vast improvement from the 65,400% rate of inflation in 2018. That’s the Maduro economy. So Biden nomics looks pretty good compared to that. But, you know, Maduro’s desperate to to find a new source of income. Exxon Mobil and Hess and the Chinese national oil company Sener did a fine job of developing the Stabroek block in a very responsible and efficient way. They’re going to be producing this new set a million barrels a day by 2027, at which point Guyana would rank as about the 12th largest exporter of crude oil on the face of the earth. It’s the fastest growing economy on the face of the earth the last two years. And so it’s no secret why Maduro is doing this. And I suspect, although no one, I think has established hard links yet, but Maduro made his announcement that he was going to hold this recent referendum three days after he met with Vladimir Putin or had a phone call with Vladimir Putin two weeks after he had met with Xi Jinping. Both those countries, China and Russia, have established major economic and military inroads in Venezuela over the last five years. And I suspect those two countries are playing a big role in motivating this as well. And the question just becomes now, what is the Biden administration going to do about it? They held joint military exercises last week with the Guyanese security force. They don’t call it an army. They call it a security force. It’s very small. Obviously, this is a country of 800,000 people. So Guyana, if Venezuela does decide to mount a military operation, Guyana will need the help of the United States and Brazil and other interested countries.
Armando Cavanha [00:07:44] Yeah, that’s right.
Tammy Nemeth [00:07:44] Yeah.
Armando Cavanha [00:07:45] Dr. Tammy Maduro, interested in an election campaign next year in Venezuela, probably will hold a summit. We supposed they will hold elections. And the problem he’s trying to avoid to discuss internal problems and making war something bigger. What do you think about this?
Tammy Nemeth [00:08:08] You know, that’s a really good point. I think with respect to what’s going on there, there is lots of different variables and factors involved. And I think David’s highlighted two really important ones, and that’s Russia and China involved in, you know, support. I don’t think Ruggiero would have gone and done this without the backing of those two nations. I mean, China holds I think they’re the biggest debt holder in in Venezuela. So they can’t really keep operating without financial assistance from China. When Chavez changed this, the when they kicked out the private companies, they said only state oil oil firms were allowed to develop in Venezuela. And so you had Rosneft get involved. You had China, the Chinese national oil company, get involved and whatnot. And so when the production goes down and they’re looking to build back up again, I think Guyana’s a oh, Guyana is a threat. They’re a threat to Venezuela’s future. So when you have China and Russia doing this kind of thing and they they will seek to benefit because it puts the United States off balance. It’s in the American back backyard. It’s another distraction away from what’s going on. In Ukraine. Will the United States be more likely to insist on some kind of negotiated settlement with the with the war in Ukraine now that they have this distraction? Does it allow China more flexibility in asserting its power in the South China Sea and and in the Middle East and whatnot? Because America’s distracted in, you know, in its own backyard. So there’s all of these other issues. And then, of course, Maduro is happy to do it because he’s like, okay, I can help in this situation. And I have an election coming up which will distract the local people and we can push nationalism and and this kind of thing. But it baffles me, like you mentioned, that Venezuela has all of these incredible resources. They have these massive reserves. So why do they need more? They have this, you know, first or second largest reserves in the world. Why do they need this? Well, I would submit that they they don’t need it. It’s to keep it off the market because then it’s a it earns more for Venezuela for whatever production they do manage to squeak out in its corrupt system.
Armando Cavanha [00:10:38] Perfect. Very good. Good morning, John. Thank you.
David Blackmon [00:10:42] Good morning, John.
Tammy Nemeth [00:10:43] Good morning, John.
Armando Cavanha [00:10:45] Tammy Tammy you put something very interesting because Venezuela has a huge reserves. 300 billion barrels recoverable. But they need because the type of oil they have, the reserves, they need technologies and products to solve this production. And they do not have a lot they need the United States very close to them to produce this, Stuart Turley.
David Blackmon [00:11:10] Do I know you? I’m sorry. My system cut out. What was the question again?
Armando Cavanha [00:11:14] The question is the following. Venezuela to produce more oil than production today. Right. Need the United States supporting US companies like Halliburton, Schlumberger, so that they cannot produce alone?
David Blackmon [00:11:28] No, they absolutely cannot. And their infrastructure has been weakened so much over all of the the last so many years. Very much like the French in their nuclear fleet, they never put any money back into it. Oil and gas does not happen without maintenance. Oil and gas does not happen without CapEx investment into new wells, into infrastructure. None of that has been done. You know, it’s kind of like if Maduro was wanting to bring in and say, I’m going to give it general millions of dollars or invest back into my infrastructure. Hmm. Okay. So, you know, General Juan Nido, whereas gets $1 million and then this offshore rig falls into the sea. So that’s exactly what’s been going on.
Armando Cavanha [00:12:25] Yeah. And David, you see that.
Tammy Nemeth [00:12:28] I went out there that.
Armando Cavanha [00:12:31] Sorry. Go ahead, please. Please
Tammy Nemeth [00:12:32] Armando, I would add that you know that the state oil company of China invested heavily in the oil sands, which uses a significant a similar technology for extracting the type of oil that’s in Venezuela. So, yeah, I think they do need some American support for further developing their resources and whatnot. But I think that the Chinese state oil company, if they wanted to, could help increase that production. That’s just that’s just my point of view there.
Stuart Turley [00:13:06] Is that the same one that Hunter’s on the board? I’m not sure.
David Blackmon [00:13:10] No.
Stuart Turley [00:13:10] Okay. Yeah. Just
Armando Cavanha [00:13:13] See Tammy in Russia, Schlumberger, Halliburton and Baker are working very hard that they they they are the high technology that that.
Tammy Nemeth [00:13:21] Yeah.
Armando Cavanha [00:13:22] Sometimes is necessary for this.
Tammy Nemeth [00:13:25] Okay.
Armando Cavanha [00:13:25] Yeah. They you see the U.S. has a position in terms of a Guyana or Venezuela on on their reserves but it depends on on the party. I mean Democrats or Republicans are different thing.
David Blackmon [00:13:41] Well it shouldn’t You know, we have the Monroe Doctrine that’s been in effect in the United States for 200 years. And and that just basically says that any time a foreign power is making an incursion into the Western Hemisphere whose interests are hostile to those of the United States and the rest of the Western Hemisphere, the United States military would intervene to prevent that from happening. That’s obviously been happening in Venezuela with Russia and China coming. I mean, China’s in the process of establishing a military base in Venezuela right now. So that’s that’s a clear threat to American interests. That’s this is a clear cut case of of declaring this U.S. vital interest under the Monroe Doctrine they dispute. Now, this dispute goes back all the way to 1899 over the Ezequiel Akiba excuse me territory, which makes up two thirds or almost three quarters of Guyana’s geography and about 125,000 of the 800,000 citizens of Guyana live in the region. In 1899, an international panel that was I really don’t even understand how it was constituted declared this to be territory of Guyana, which had been a British territory at the time. The Venezuelan government in 1899 disputed that. That finding is an example of colonialism. But in 1905, Venezuela’s government, as a result of a negotiation, agreed to the current borders along with the Guyanese government. And so this has been an established border and established Guyanese region since 1905 for 118 years. And Venezuela has attempted to raise this claim periodically in the intervening years since. Whenever it turns out that some gold mine was discovered in Guyana or, you know, and now you have the big oil presence that the most of the stabroek block offshore would go along with this to convey with the Eskimo region. So, I mean, this is clearly just an economic grab. Venezuela’s claims, you know, some people will say, well, it’s legitimate, but, you know, this is 118 years of an established border. And to be raising it now is just clearly an act of aggression and an a grab for the billions of dollars in revenues that stand to accrue from the stable block. And so, you know, I just think it’s it’s really pretty clear example of of of an instance where we can expect the American government and American military to intervene on behalf of Guyana. And I think that means that at the end of the day, Maduro is not going to make any sort of military incursion.
Armando Cavanha [00:16:48] We’ll have a comment from. John.
David Blackmon [00:16:53] All the major supplying us.
Armando Cavanha [00:16:56] Yeah, well, that’s.
David Blackmon [00:16:56] Certainly true in in the shale plays in the United States.
Armando Cavanha [00:17:00] And I would like to add, because some United States are importing 7 million barrels a day at this time and with the problems and restrictions from Middle East oil. So come from Venezuela could be very interesting in terms of logistics. Stuart, Tammy and David.
Stuart Turley [00:17:23] Yeah, and especially this is a heartbreaker on that. And we I would much rather trade with our beloved Canadians on the heavy oil sands and, and see a Keystone pipeline might have helped that a bunch. We would not need to import that and David and Damian this is this is something that has been talked about David has written about that and that is the blending of our refineries needs the heavier oil to come from the sweet oil out of the Permian and our other basins. So we need heavier oil in. And so we’re it’s going to get kind of ugly on that is when we take a look at the importing in the blending, we may be doing 7 million barrels per day importing. We wouldn’t have to that right now they’re coming in by rail and you can’t get that much in by rail. I believe Warren Buffett and most of that rail, we’ll leave that alone.
Tammy Nemeth [00:18:27] There are a fair number of pipelines as well. They come from Canada and Canada is the number one supplier to the United States. We we overtook Saudi Arabia some time ago. And it’s interesting when you look at the Energy Information Agency data about oil imports and you see Venezuela just fall off a cliff and Canada takes up and and you’re right. I mean, Keystone could have been such a huge benefit to the United States, you know, fortress North America and all that, which is one of the reasons why the Biden administration wanted to make sure it was canceled so there couldn’t be a fortress. North America. Mexico was also a large exporter to the United States, but their supplies are are starting to drop. Guyana recently has started to, of course, be a supplier to the United States. But it’s it’s quite small, but not that much smaller than Venezuela, which is interesting. And historically, Venezuela has been part of the the Western Hemisphere coalition of exporters to the United States, which was supposed to be a counterbalance to the Middle Eastern oil. And the Middle Eastern oil was supposed to predominantly supply Europe. And then you had the Western Hemisphere sources that were supposed to supply the United States and North America. Then there was supposed to be this sort of interdependence. But of course, with Chavez, that all kind of and the and the various other coups that have taken place in Venezuela over the years often throw that into disarray. But then it comes to, I think, Brazil in all of this, because Brazil is supposed to be there. They’re not the mediator for this meeting that’s supposed to take place on Thursday between Venezuela and Guyana on on a Caribbean island. But they’re there as an observer. And and I’m curious to know what Armando thinks about the role of Brazil in this, because if you think about it, there’s a question there about Iran. Well, that’s part of the the BRICs plus now. And and so is this a way for the BRICs to sort of assert their own strength of oil supply in the face of Cop 28 and everything else? And Brazil’s part of that. So what side are they going to take in this dispute? Armando, what do you think?
Armando Cavanha [00:20:53] Yeah, I think that that is not that good. A good place to Brazil because you are being a friend, friends of a dictator. That’s the real case. And the middle class in Brazil that do not accept this situation. And Maduro in the past threatened Brazil several times with this. That in itself we are not so friends. This can be another thing. Brazil exporting one more than 1 million barrels a day. And I see that a great opportunity in the United States to receive this 1 million barrels a day because and I do not know how they do not reach a good deal because.
Stuart Turley [00:21:37] Can I can I ask a follow up to Tammy’s great comments now? Sorry, Tammy did not mean to compliment you, but great comments. With Brazil being admitted into OPEC plus that would follow into that. Armand, there’s this great company called Petrobras. And I believe the CEO of Petrobras said, we don’t care about yours. We don’t need no stinking quotas and we’re going to pump everything we can. I believe that was in the movie a long time ago. We don’t need no badges. He doesn’t like no quotas as he goes in. Do you think that BRICs and OPEC Plus are going to play into the Brazilian oil markets?
Armando Cavanha [00:22:23] It’s a dubious position, so it is not clear the direction we are taking because OPEC plus BRICs, at the same time trying to be the developing country. So it’s complicated for Brazil, I suppose.
Tammy Nemeth [00:22:40] And you’re saying Brazil. Lula’s around there going around telling everybody how green they’re going to be and they’re going to be all this renewable stuff, but at the same time, increasing oil production. It’s one of those contradictions, I guess.
Armando Cavanha [00:22:54] Exactly. Ever see at the same time and the opposition to their actions is not good and some people are afraid to be moderation in Brazil. So the current government goes to the mayor. Maduro is a trend. It’s not a good thing for my opinion that there are people thinking differently. They should like.
David Blackmon [00:23:15] Your point about Brazil’s potential to be a major exporter into the United States is a great one because between Brazil, Venezuela, Guyana, Mexico and Canada, the United States really would have no need to import oil from any other part of the world outside the Western Hemisphere.
Armando Cavanha [00:23:37] Is this just the.
David Blackmon [00:23:38] Financial companies arrange their contracts with those five major supply and growing suppliers. Venezuela, if if it could get its industry back on track, was once exporting almost 3 million barrels of oil per day.
Tammy Nemeth [00:23:54] Yes, absolutely.
David Blackmon [00:23:55] Of what, half a million or something like that. Chevron is is continuing to operate down there in Venezuela. It managed not to have its assets confiscated by the Chavez government. And so it’s really almost the entire industry is in Venezuela.
Stuart Turley [00:24:12] And Iran picked up that slack because they’re now over what I believe it’s 3.5 million.
David Blackmon [00:24:18] Barrels
Stuart Turley [00:24:19] And when Biden took office, they were at 400,000. So a huge win for Iran picking up that slack.
Armando Cavanha [00:24:31] And, David, that could be something regional and some countries being friends and supporting themselves and then do not reach this point they cannot reach. Sorry, because I have several things on the same screen that you can help me.
David Blackmon [00:24:46] It is my understanding that Iran’s IRGC operatives are well established in Venezuela. Isn’t it also possible that Iran figures in Maduro’s decision to pursue aggression against its neighbor? Certainly, you know, Maduro is a bad guy. Folks, let’s let’s just all be honest about this. Maduro is a youth who is is more than happy to be influenced by terrorist supporting regimes like Iran, by China, by Russia. He’s going to take help from wherever he can get it because he knows his whole regime is collapsing. And if he ever does hold an actual free election, which he’s never going to do, he would lose miserably with the voters there in Venezuela. But, you know, and that’s the irony of this whole situation, right, is that the United States agreed to lift its sanctions on Venezuela in exchange for a promise from literally the worst despot in the Western Hemisphere to hold a free election next year. Well, my, does anybody really think that’s going to happen? Of course it’s not. This guy who makes Vladimir Putin looks like look like an angel in terms of holding elections. So it’s just this just the most naive.
Stuart Turley [00:26:03] Do you think that’s where the Biden administration got the Dominion servers was from a left over election in Venezuela?
David Blackmon [00:26:11] I don’t know
Stuart Turley [00:26:12] That was a joke. That was a joke. Maybe a joke.
Armando Cavanha [00:26:18] There is another comment here from our.
David Blackmon [00:26:24] Pick up Maduro and his orchestra. Put them behind bars. The whole conflict will be over. Peace and happiness will be back to Venezuela. True. True. But someone has to take the initiative to do that. And unfortunately, the Biden State Department has the whole world on fire right now. And we’re distracted in places like Ukraine and in the Middle East. And so there’s no real focus here, you know, yet. We’ll see see what happens in the coming months.
Armando Cavanha [00:26:53] Dr. Tammy You see that investments. And thus in the region because this conflict.
Tammy Nemeth [00:27:00] Yeah, that was one of my concerns, is that, okay, so Chevron, Exxon, Hess had found these fields and they’re they want to develop them. Will those developments go on hold if there is the prospect of of armed conflict? I don’t know. Are they would they be anticipating that they would hire private defense contractors or maybe the American military would come in to protect those assets from the potential of Venezuela coming in and doing whatever it is they’re going to do? So, yeah, I’m not sure. I think David probably knows more about how the the the major companies would operate in those kinds of circumstances. What do you think?
David Blackmon [00:27:42] Yeah. I mean, I think if there was an actual armed conflict arise, they would probably shut down operations and evacuate their personnel if if they perceived any threat that that their personnel could come in harm’s way. I would you know, it would be just like having a hurricane come through the Gulf of Mexico. You just shut it all in and get your people out of there and keep them safe.
Tammy Nemeth [00:28:07] Yeah.
David Blackmon [00:28:08] You know, you hope it doesn’t come to that. It shouldn’t if cooler heads prevail. But it’s hard getting harder and harder to identify the cooler heads in this world these days.
Armando Cavanha [00:28:20] Stuart do you see, as some some American companies, let’s see, going going back home and do not extend exploration this area?
Stuart Turley [00:28:33] I think it’s an excellent question, Arman, and I think that’s probably why you’re seeing so many countries wanting to invest in the oil and gas space. That’s why you see total investing in natural gas energy plants in Texas. That’s why you see people wanting to not invest in CapEx in outside the U.S. Now, there are areas like off of Africa’s coasts that there are still some good investments, but it’s getting tougher out there because you don’t know where you’re going to and find a geopolitical problem popping up. It’s we’re going to need the oil. And the oil is not being explored for the known reserves.
David Blackmon [00:29:27] That’s a great point, by the way, that we need to to emphasize here is this Stabroek block. Offshore Guyana is a major focal point of the capital budgets, future capital budgets of the two American major integrated oil companies, Exxon Mobil and Chevron.
Stuart Turley [00:29:51] That is Correct.
David Blackmon [00:29:51] To acquire Hess. This is Exxon’s top priority, international development globally. Okay. And it’s about to become among Chevron’s most critical international developments globally as well.
Stuart Turley [00:30:06] That is correct.
David Blackmon [00:30:07] So the implications here for the American oil and gas business, if this should fall into Maduro’s hands, are enormous. They can’t be overestimated. And, you know, this is a U.S. government, this current administration that’s pretty hostile to American oil and gas companies and has said repeatedly that it wants to put them all out of business in ten years. So, you know, that that also complicates this whole situation and really makes it a very tense thing inside these oil companies.
Armando Cavanha [00:30:40] Yeah. And you can see the map, the companies that are working in front of them.
David Blackmon [00:30:47] Yeah. Yeah. I mean, in Suriname, you know, you have Apache Corporation over there as well. Chevron has a big position. ExxonMobil even has interests offshore, Chevron, Shell, you know, So this is just a real major hot spot right now for the American oil and gas industry.
Tammy Nemeth [00:31:08] Yeah, that’s an excellent point about that. The the forward looking of the of the majors because it’s become so difficult to do any increased exploration and production in supposedly democratic regions that they end up having to go elsewhere in order to invest in the in those kind of capital expenditures for for research and about, well, development, exploration and development. So yeah, that’s a really good point. Thank you.
David Blackmon [00:31:39] And unfortunately, the Biden administration has has created so much damage to the ability of these companies and the United States to have faith in the fair application of laws and regulations and the stability of the legal and regulatory system. And that’s been an intentional thing by this administration then. And so it really makes it harder and harder to invest in exploration for new reserves in the United States.
Tammy Nemeth [00:32:08] Yeah, and the same in Canada, the same type of regulatory burdens and the endless litigation by environmental groups and other interested parties who who wish to see the the oil and gas companies die and the oil and gas left in the ground. If I could make one point about Venezuela and they’re supposed to have these free elections, well, it was five days ago that Venezuela’s top prosecutor put out an arrest warrant for, I think it was 12 members of the opposition saying that they were they were taking the side of a Guyana and were trying to sabotage the referendum or something like that. So so much for the possibility of free elections if they if they’re using the referendum as an excuse to arrest the opposition leaders.
David Blackmon [00:32:53] Gosh, it sounds like the Biden administration.
Stuart Turley [00:32:56] David, I am so proud of you. I was about to say that. And you beat David. David Blaze, thank you very much. David, I am so proud of you.
Armando Cavanha [00:33:08] I regret that. Good. So going to the conclusion, do you see any any solution, possible solution for this next month’s situation?
Stuart Turley [00:33:19] I think we sent Hunter Biden down. And I think that his he has enough that in negotiation skills that we know that then the Biden administration would be interested in doing this. So I think you think I’m making a joke. I think that if there is actually financial implications for the Biden administration, we might actually get some decent. Somebody laughing about that. So I’m serious. We’ve got to get the Biden administration interested in this to actually do something right for the country. 10% for the big guy may be a joke, but it may be a theme song in Guyana.
David Blackmon [00:33:59] I just think that they’re a show of force by the United States, this conducting of joint military operations and a statement from the Biden State Department, you know, note putting Maduro on notice that the United States would intervene on Ghana’s behalf would pretty much but a quiet a sign any military operations coming from Venezuela. But, you know, it also the administration would be reluctant to do that because they don’t want to be criticized by their normal support base for engaging in colonialism and all the talking points that would come in opposition to that. So, you know, it’s it politically it’s a difficult thing for the Biden administration because it has to be sure it doesn’t alienate its own voter base. So it’s this a tough deal for everybody.
Armando Cavanha [00:34:50] Dr. Tammy you see Trudeau can help us to solve this problem.
Tammy Nemeth [00:34:55] Oh, my gosh. Yeah, that’ll be great. Send Mr. Fancy socks down there. They can compare notes or something. Yeah, It’s so in all seriousness, I think it’s too soon to tell what the outcome will be on all of this this situation. I’m curious to see what happens on Thursday at the meeting, but. I don’t know. It’s it’s just too early. And I hope that that a show of force will be enough to get Venezuela to back off. But given that they aren’t coming into an election election year, who know for anything. can happen In these days.
Stuart Turley [00:35:34] A show of force,
David Blackmon [00:35:34] United States.
Stuart Turley [00:35:36] Oh, I was like.
Tammy Nemeth [00:35:38] Oh, my gosh.
Stuart Turley [00:35:39] Oh, yeah.
Tammy Nemeth [00:35:39] They would send the beer boat. You know, that’s what we’ve got, is we have a freighter with that hauls beer around seriously.
Armando Cavanha [00:35:48] And Tammy Tammy in England, UK, UK is not concerned about this because was something.
Tammy Nemeth [00:35:54] It’s not it’s not in their neighborhood. And so unless BP or something was involved, I think they they know this is an American in the Americans neighborhood and the Americans need to deal with it. I think the UK is just dealing with its own mess in Europe and Brexit and everything else.
Stuart Turley [00:36:14] You’re saying the Falklands was not such a good thing?
Tammy Nemeth [00:36:19] Well. I don’t know. But now with the new fella in Argentina, I don’t know. Maybe the UK will get pulled into that one again.
David Blackmon [00:36:29] There he is.
Tammy Nemeth [00:36:32] Yeah.
Stuart Turley [00:36:33] I think he threw.
Tammy Nemeth [00:36:34] A cabinet, though.
Stuart Turley [00:36:37] Yes. I think he.
Tammy Nemeth [00:36:40] Done.
Stuart Turley [00:36:41] Sorry. I think he’s. He’s an entertaining cat. I’d love to get him on our podcast. So the offer is there and and I would even fly down to get that interview. I think that would be an absolute.
Armando Cavanha [00:36:56] That’s great. Thank you so much. Was a great pleasure to have. Having a Stuart Turley, David Blackmon and Dr. Tammy Nemeth. Thank you.
David Blackmon [00:37:07] Thank you Armando
Tammy Nemeth [00:37:08] Thank you Armando, Thank you gentlemen
Stuart Turley [00:37:10] It’ll be a great week.
Tammy Nemeth [00:37:12] For sure. Bye.
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