LIZ: WE'RE JUST GETTING THIS
BREAKING NEWS IN.
NOW THE KUWAITI OIL MINISTRY HAS
JUST TWEETED A LONG-TERM
COOPERATION AGREEMENT TO CUT OIL
PRODUCTION IS EXPECTED TO BE
SIGNED BETWEEN OPEC AND NON-OPEC
COUNTRIES.
JUST A FEW HOURS AGO, THE OMANNI
OIL MINISTRY REVEALED QUOTE, WE
HAVE AN AGREEMENT TO CUT SEVERAL
MEMBERS OF OPEC AS WELL AS
RUSSIA ARE RECOMMENDING A
PRODUCTION CUT AND WHILE NO
FORMAL AGREEMENT ON THE AMOUNT
OF OIL THAT WILL BE CUT WILL BE
REMOVED FROM THE MARKET HAS BEEN
STRUCK, OMAN'S OIL MINISTER SAYS
THERE IS STILL TIME TO FINALIZE
DETAILS AND THAT THE OPEC
NATIONS HAVE SECURED RUSSIA'S
PARTICIPATION IN THE CUTS.
WILL OPEC NOW BAND TOGETHER WITH
RUSSIA TO SORT OF SURVIVE ALL
THE ISSUES, NUMBER ONE,
PRESIDENT TRUMP SAYING KEEP THE
SPIGOTS OPEN, AND NUMBER TWO,
QATAR JUMPING OUT OF OPEC SAYING
WE'RE DONE, WE DON'T LIKE HOW
THIS GROUP THINK IS GOING.
WILL ONE SIDE WIN OUT BEFORE THE
OTHER AND HOW WILL THIS BUDDING
BROMANCE BETWEEN PRESIDENT
VLADIMIR PUTIN AND CROWN PRINCE
OF SAUDI ARABIA IMPACT DECISIONS
MADE AT THE MEETING?
WE BRING IN FORMER U.S.
AMBASSADOR TO SAUDI ARABIA,
ROBERT JORDAN, ON THIS NEW
INTERNATIONAL OIL SOAP OPERA.
GOOD TO SEE YOU, SIR.
THANK YOU FOR JOINING US.
YOUR GUT REACTION TO THIS?
IT SURE LOOKS LIKE OPEC IS
LINKING WITH NON-OPEC MEMBER
RUSSIA AND SAYING WE'RE GOING TO
FLOUT PRESIDENT TRUMP, WE DON'T
CARE WHAT HE WANTS.
>> WELL, THEY HAVE COORDINATED
PRODUCTION CUTS IN THE PAST,
ALSO PRODUCTION INCREASES.
YOU MAY RECALL THAT PRESIDENT
TRUMP ASKED THEM TO INCREASE
PRODUCTION AT THE TIME THE
IRANIAN SANCTIONS WERE BEING
IMPOSED AND THEY AGREED TO DO
THAT.
THEN OF COURSE, PRESIDENT TRUMP
TURNED AROUND AND GRANTED
WAIVERS TO SIX COUNTRIES WHICH
BASICALLY KEPT THAT SUPPLY OUT
THERE AND DEPRESSED THE PRICE.
THIS HAD TO HAVE BEEN
AGGRAVATING TO THE SAUDIS AND
THE RUSSIANS, SO NOW WE ARE
STARTING TO SEE DEMAND SOFTEN
AND I THINK THEY ARE PROTECTING
THEMSELVES.
CERTAINLY IT'S NOT WHAT
PRESIDENT TRUMP WANTED BUT I
THINK THIS IS MAINLY A DEFENSIVE
MOVE ON THEIR PART.
LIZ: YOU KNOW HOW THE SAUDIS
THINK, HAVING BEEN AMBASSADOR TO
SAUDI ARABIA.
DO THEY SEE THAT GRANTING OF
WAIVERS AS SORT OF A
DOUBLE-CROSS?
>> I THINK THEY MAY WELL SEE IT
THAT WAY.
THEY WERE CERTAINLY LED TO
INCREASE PRODUCTION AND THAT
DROPPED THE PRICE SIGNIFICANTLY
AFTER THE SANCTIONS CAME IN,
WHICH WAS A BIG SURPRISE,
LARGELY BECAUSE AGAIN, OF THESE
WAIVERS TO SIX COUNTRIES.
LIZ: WELL, LISTEN, THEY'RE GOING
TO DO WHAT THEY'RE GOING TO DO.
I JUST WONDER IF THAT BROMANCE
HANDSHAKE THAT EVERYBODY WAS
TALKING ABOUT OUT OF THE G20 IN
ARGENTINA, WHERE CROWN PRINCE
MOHAMMED BIN SALMAN MET WITH
VLADIMIR PUTIN AND BY THE WAY,
BOTH OF THEM WERE SORT OF SHOVED
OFF TO THE SIDE IN THE SO-CALLED
FAMILY OR CLASS PHOTO, MAKES YOU
WONDER IF THEY NOW LOOK AT THIS
AND SAY IT'S US AGAINST THEM.
>> WELL, I THINK THERE'S
PROBABLY A CERTAIN ELEMENT OF
THAT.
CERTAINLY I THINK AT THE G20,
THE CROWN PRINCE WAS PRETTY WELL
IGNORED OR MARGINALIZED BECAUSE
OF THE KHASHOGGI MURDER AND SOME
OF HIS OTHER CONDUCT.
SO HE FOUND PROBABLY THE ONLY
OTHER CHARACTER IN THE GROUP
THAT HE SEEMED TO FEEL COMMON
INTEREST WITH IN THE MOMENT.
I CAN UNDERSTAND THAT MIGHT
CAUSE THEM TO BOND PERSONALLY,
AND THEY HAVE COMMON INTERESTS,
PARTICULARLY REGARDING OIL
PRODUCTION.
LIZ: BEFORE WE GO, YOU ARE THERE
IN DALLAS AND I KNOW YOU KNEW
PRESIDENT BUSH 41 AND YOU HAVE
TO TELL US YOUR FAVORITE MEMORY
BECAUSE ON A DAY LIKE THIS WHERE
HE WILL BE LAID TO REST, IT
REALLY MAKES YOU WONDER HOW
PEOPLE WHO KNEW HIM REALLY FELT
ABOUT HIM.
>> SURE.
WELL, TODAY IS A DAY OF GREAT
CELEBRATION OF HIS LIFE.
MY FAVORITE MEMORY IS FROM
AUGUST OF 2001.
I WAS GETTING READY TO GO OVER
TO SAUDI AS AMBASSADOR AND I HAD
GONE DOWN TO CRAWFORD TO MEET
WITH PRESIDENT BUSH 43 AND LAURA
BUSH.
WE HAD A GREAT LUNCH, VERY
CASUAL, AND 43 SAYS TO ME YOU
KNOW, MY DAD KNOWS THE SAUDIS
BETTER THAN ANYONE ELSE.
IN FACT, PRINCE BANDAR, THE
SAUDI AMBASSADOR, IS IN
KENNEBUNKPORT WITH MY PARENTS
RIGHT NOW.
MY DAD WILL BE BACK ON MONDAY.
GO TO HOUSTON, SEE WHAT HE CAN
TELL YOU.
I WENT TO HOUSTON, I HAD A GREAT
MEETING WITH PRESIDENT BUSH 41.
HE GAVE ME LOTS OF INSIGHTS
ABOUT THE SAUDIS AND AS I WAS
THANKING HIM AND LEAVING, HE
STARTS, HE SAYS BOB, COME BACK,
AND PULLS OUT A NEA
AND PULLS OUT A NOTE CARD AND
WRITES OUT A NOTE FOR ME TO GIVE
TO THE PRINCE.
I FINALLY LOOKED AT THE NOTE
BECAUSE HE HADN'T SEALED IT,
WHEN I GOT IN MY CAR, AND I TOOK
THAT AS PERMISSION TO OPEN IT,
AND THE NOTE SAID DEAR BANDAR,
GREAT BEING WITH YOU LAST WEEK,
SORRY THE FISH WEREN'T BITING,
PLEASE BE NICE TO THIS GUY OR
BARBARA WILL GET YOU.
THOSE ARE MY CREDENTIALS.
LIZ: ALWAYS THE HUMOR.
ALWAYS THE HUMOROUS TOUCH.
THANK YOU VERY MUCH FOR THAT