00:00part of this 30 to 50 million barrels of oil how exactly is that going to work you're getting it
00:06out of it as well into the united states yes that's exactly right so as you know ed as the
00:11president announced last night this was the sanctioned oil that was basically just sitting
00:15in barrels sitting on ships because of the effective quarantine of the united states of
00:20america and these the interim authorities have agreed to release that oil to the united states
00:24so it will be arriving here at home very soon the united states government has already begun
00:29marketing venezuelan crude oil and the global marketplace for the benefit of the united
00:33states engage the world's leading commodity marketers key banks to execute and provide
00:38financial support for these crude oil and crude product sales all proceeds from the sale of
00:44venezuelan crude oil and products will first settle in u.s controlled accounts at globally recognized
00:50banks to guarantee the legitimacy and integrity of the ultimate distribution of proceeds and those
00:55funds will be dispersed for the benefit of the american people and the venezuelan people at the
01:01discretion of the united states government it sounds like it requires a lot of private sector
01:05engagement and agreement from the oil industry and the banking industry do you have that yet
01:10there's a lot of private sector engagement that's happening right now as you know secretary wright
01:15our energy secretary who's heading up this big project is in florida today meeting with some of
01:20these oil executives and as we confirmed earlier they will also be at the white house later this week so
01:24they are absolutely eager to invest they're eager about these opportunities and secretary wright is
01:30a very well knowledgeable guy when it comes to oil and energy and he's the perfect man for the job
01:35another report of the world that real quick gotta run go ahead so just to follow up on the oil
01:4030 to 50 million barrels is an initial tronch if you will and then what happens after that
01:46i won't get ahead of of the plans that the president and his team are currently speaking with the
01:53interim authorities about but rest assured there is a long-term plan here secretary rubio and the
01:58entire team are working diligently on it and this is just sort of the first action that you all are
02:02seeing ed so in order to get these oil companies to invest billions in venezuela how will the u.s
02:09reassure that their workers will be safe in venezuela could there be troops involved
02:14at this point in time as you know there are no troops on the ground in venezuela the president of
02:19course reserves the right to use the united states military if necessary it's not something
02:23he wants to do diplomacy is always the first option as you saw he tried that with nicolas maduro but
02:28unfortunately he was an illegitimate dictator and an unserious person and so president trump
02:33authorized this law enforcement operation and now nicolas maduro is sitting in a prison cell in new
02:38york so certainly the president is going to do what's in the best interest of the american people
02:43and that includes workers from our energy and oil industry as well with that meeting tomorrow what is
02:48the message the president is going to give to the oil executives and what does he want to hear
02:51well the meeting is on friday and it's it's just a meeting um to discuss obviously the immense
02:56opportunity that is before these oil companies right now
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