Matt Randolph
speaker
6,441 appearances
30 recordings
3 series
first heard Apr 2026
last heard 2d ago
Matt Randolph’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 30 in all, peaking in Aug 2026 with 7.
Appearances
Yeah,
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It's important to note, okay, Chevron that is currently in Venezuela, they pay this, right?
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But most of Chevron's production is old existing production.
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And that means they didn't go drill a bunch of new wells and spend all that money.
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Um and
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In Chevron's situation, the country itself is investing the lion's share of the money into the production.
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So like the break-even price of Venezuelan oil, if I was to go buy an old Venezuelan oil well, the breakeven price for that oil would probably be $30 to $35, $40.
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The breakeven price for new new production, which means drilling new wells and all of that, is like eighty to ninety dollars.
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So there's a huge difference in new production and old production.
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Chevron's production, over a hundred years in Venezuela, they're only at two hundred and fifty thousand barrels a day.
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After a hundred years.
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But this is going to be all new production, all high cost new production with a 30% royalty strapped on high cost new production that is completely unprofitable.
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That would be profitable with old production.
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you know, with a thirty-five dollar break even because you have a very low entry point.
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We're talking about investing 180 billion dollars and then paying a thirty percent rualty.
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Like nobody's gonna do that.
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Like you would have to be a complete idiot to do that.
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Um that's higher than anyone.
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So they're talking about a hundred billion to get started.
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Showing 761–780 of 6,441 · page 39 of 323
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