00:00First and foremost, obviously, is the interest that we have in Venezuela.
00:03And I think, you know, the way I would position that, I think one of the reasons why we see many of the industry players here
00:08is we're in a depletion business for a product that is in great demand and will be in demand for many, many, many decades to come.
00:15And as a depletion business, the biggest challenge we have is finding resources.
00:19There's an opportunity in Venezuela with all the resources there is we don't have that challenge of finding.
00:24We have the challenge of developing those resources.
00:26So I think it's in the best interest of these companies and, frankly, society as a whole
00:33for the industry to be interested in understanding what the opportunity here represents.
00:39I'll just share a philosophy that ExxonMobil has when we enter countries because we do business all around the world
00:44in a number of different regimes.
00:46We take a very long-term perspective.
00:49The investments that we make span decades and decades.
00:52So we do not go into any opportunity with a short mindset, short-term mindset.
00:59There's a value proposition that we have to meet.
01:02It has to be a win-win-win proposition.
01:05It obviously has to be a win for the company and our shareholders and to generate a return for the investments that we make.
01:11It has to be a win for the government.
01:12The resources are an important source of revenue that helps support the people of the places that we do business.
01:19And there has to be a win for the people.
01:21We have to be wanted there and to be a good neighbor.
01:23And those three things ensure a stable, long-term platform for the large investments that we make for the long term.
01:31We have to be a win for the long term.
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