Gregory Brew

speaker

418 appearances 1 recordings 1 series first heard Jan 2026 last heard 7 Jan

Gregory Brew’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.

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Odd Lots · This Is What Maduro's Arrest Means for the Oil Market · 7 Jan 2026 podcast

So saying that Venezuela has 300 billion barrels of oil that you could pull out of the ground right now.

Just isn't accurate.

The oil is there, but trying to get it out in the current market conditions, given all the risks involved, the security concerns, the upheaval in Venezuela, and then just the amount of money you would need.

To upgrade the infrastructure and to drill the wells, the figure is much lower than 300 billion.

It's a lot.

Neighboring Guyana has proven reserves of around twenty billion barrels, and there's at least twice that in the Maracabe basin in the west of Venezuela.

So there is a lot of oil there, but whether it approaches three hundred billion barrels is a is a subject of much debate.

sure.

I love describing charts.

And I'm also, you know, as as Joe well knows, Tracy, you probably know as well, I'm a historian by training.

So I love to go back in time.

And start at the beginning.

And the beginning for Venezuela oil is over a hundred years ago.

Venezuela is one of the oldest oil producers in the world.

First began to commercially produce crude in the 1920s, 1930s.

For a while, you know, close to 30 years, it was arguably the second most important oil producer in the world and in the Western Hemisphere because it was so close to the United States.

It was sending a lot of its crude to the US.

This was before the Middle East became a major concern in the 50s and 60s.

You know, Venezuela has has been around for a long time.

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