00:00Following President Maduro's seizure, Venezuela's Supreme Court named the Vice President Delcey
00:04Rodriguez as acting president and President Donald Trump has warned that she would pay
00:09a very big price if she does not do what's right. Einar, how does the United States define what's
00:16right at this moment? They have no choice. You have a large power that's already military
00:23intervened. I don't think you can go ratchet up tensions anymore than taking the sitting
00:27president and his wife and spiriting them off to the United States. So at this point, they
00:34are in a position where they have to give in. She's already supposedly agreed to this idea
00:42that somewhere between 30 and 50 million barrels of oil will be given to the United States.
00:49But people who are watching this need to understand the nuances here. The big oil companies are
00:55not interested in Venezuelan crude. They moved away from it when they were beginning sanctions.
00:59They put a half a trillion dollars into the oil sands of Canada. They're not going to walk
01:04away from that. The only winner here are those who process oil. And a lot of them are in Texas
01:10and Louisiana. And they will benefit by having a close source, which they can buy at cheaper
01:16prices and then sell on the international market and within the United States. You know, a lot
01:22of people are confused. Why does the U.S., which exports oil, need oil? It's because the U.S.
01:28has light crude. And in order to make diesel, you need heavy. And 60 percent of our refineries
01:36in the United States deal with heavy crude. So if you're going against Canada and you want
01:41a quick, easy supply, Venezuela is there. So what we're looking at is an imbalance within the United
01:48States in terms of their oil, but also politically. So I think this is something that people need
01:55to realize that why this is happening. There's only a very narrow interest that is going to
02:00benefit this, the processors, everyone else is losing.
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