Stephen Portnoy
speaker
244 appearances
4 recordings
1 series
first heard Aug 2026
last heard 2d ago
Stephen Portnoy’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 4 in all, peaking in Sep 2026 with 3.
Appearances
I I spoke to some experts.
experts over the weekend.
And Brad, they say that this really could be a pretty sizable shakeup in the way oil is sold on the global market, certainly in the Western Hemisphere, compared to let's just say the Middle East.
Well, look, this comes eight months after the president oversaw the ouster of Nicolas Maduro.
He's been trying to achieve a long term agreement with the government of the interim president Delcy Rodriguez, who put out a statement over the weekend in which she said that the benefits of this deal are impossible to ignore.
She talks about the idea that this would be great for her country in terms of an infusion of foreign capital, the necessary investments that would be required to upgrade the aging oil infrastructure of Venezuela after decades of neglect under Hugo Chavez and Nicolas Maduro.
And the way it's described by a US official, the United States government would go into essentially business with a private
oil company in Venezuela and the U.S.
government would take majority control of this sixty five billion barrel amount of oil.
I mean it's really to sell it or do whatever they want with it, basically.
Well right.
And so the president over the weekend was talking about using some Venezuelan oil to replenish the strategic petroleum reserve, which he's tapped over recent months, to offset the increased price of gasoline during
during the Iran War.
What's important to understand though, Brad, is that this is not gonna happen anytime soon.
this is my question, is does this mean that prices go down at the pump?
Not immediately.
Huh.
You know, it's very possible that five, six, seven years from now, this could fundamentally change the balance of the global oil market, but it's gonna take a lot of time.
I spoke to one expert over the weekend, Tom Closa, he's an energy analyst at Gulf Oil.
Crude oil in Venezuela is described as very heavy and thick.
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