ARRESTED
WE CANNOT GET IN THERE BUT OIL,
VENEZUELA HAS THE MOST IN OIL
YOU PAIR THAT WITH ANOTHER
NATION WITH A LOT OF OIL IN
TOTAL DISARRAY, IRAN.
WHICH IS NOW BRACING FOR THE
RETURN OF U.S. SANCTIONS ON
OIL.
APRIL NOVEMBER 5 IS WHEN THE
U.S. EXPECTS ALL COUNTRIES TO
CUT OIL IMPORTS FROM IRAN TO
WE BRING IN THE CHAIRMAN AND
CEO OF LIBERTY, CHRIS WRIGHT.
BEFORE I GET YOUR OPINION ON
THIS, WE HAD THE MORNING SHOW,
-- SAYS ONLY TO LISTEN TO THIS,
THE NEXT 90 TO 100 DAYS HE
>> ON THE ONE HAND YOU CAN HAVE
PRODUCTION DROPPED FROM LET'S
SAY 2.2 ON THE EXPORT SIDE TO 1
AND A HALF MILLION OR LESS.
ON THE OTHER HAND, YOU MIGHT
HAVE POLITICAL AWARENESS
RAISING THE PROSPECT OF SALES
OF CRUDE FROM THE STRATEGIC
PETROLEUM RESERVE.
YOU CAN MAKE A CASE FOR 90, YOU
CAN MAKE A CASE FOR 50.LIZ:
THAT IS A BROAD SWAP THERE!
DO YOU HAVE ANY IDEA WHERE OIL
PRICES ARE GOING ONCE THESE NEW
FUTURE!
BUT I WOULD SAY IT LOOKS
REASONABLY POSITIVE.
IT IS JUST, IT IS NEVER BORING
AT ALL IN THE GAS MARKETS.A
LOT OF MOVING PARTS RIGHT NOW.
LIZ: WE ARE SEEING SOME
REACTION RIGHT NOW EVEN THOUGH
THESE THINGS DO NOT KICK IN
UNTIL NOVEMBER 5. THERE IS
EXTREME PRESSURE BY THE TRUMPET
MINISTRATION ON COUNTRIES THAT
IMPORT IRANIAN OIL.NOW, AMONG
NOW YOU HAVE THE EUROPEAN UNION
SAYING AT LEAST FOR THE FIRST
SNAP BACK SANCTIONS, DON'T TELL
US WHAT TO DO.
WE DO NOT GRID OF THE IRANIAN
NUCLEAR DEAL.
SO WE ARE GOING TO CONTINUE
DOING SOME TYPE OF BUSINESS.
COUNTRIES TO STOP IMPORTING?
JAPAN IS ALREADY THERE.
THEY ARE LISTENING TO THE US.
U.S. FINANCIAL SYSTEM.
THE FRENCH COMPANY THAT WORKS
SUSPENDED OPERATIONS ON THAT.
SANCTIONS WILL HAVE AN IMPACT.
NO DOUBT ABOUT THAT.
IT IS OBVIOUSLY CLEANER.
THAT IS A DIRTY NATION.
THEY HAVE PEOPLE WEARING FACE
CAN YOU GIVE US A SENSE OF HOW
CHINA MAY BEHAVE?
WILL THEY START BUYING MORE
FROM THE NINE STATES VERSUS
ACTUAL CRUDE FROM IRAN?
>> CHINA HAS RAMPED UP QUICK AS
AN IMPORTER.
THEY BOUGHT HARDLY ANY TWO
YEARS AGO AND NOW THE SECOND
BIGGEST IMPORTER OF THE WORLD
RIGHT NOW AFTER JAPAN AND THEY
LIKELY PAST JAPAN AND THEY ARE
THEY -- IT MAY CHANGE SOON.
LIZ: ALL RIGHT.
COMPANY, AND I JUST CAME IN
WITH HER AND IS LOOKING REALLY
GOOD AT RECORD EARNINGS.
BUT OTHER COMPANIES LIKE BIG
INTEGRATED OILS AS WELL.
>> U.S. OIL AND NATURAL GAS
PRODUCTION ARE BOTH SURGING.
ALL EXPORT.
OIL AND GAS WILL HAVE TO GO
ELSEWHERE AND IMPORT FROM NOTES
SOMEWHERE ELSE BUT NO DOUBT IT
WILL BE DISRUPTIVE.
WILL MOVE BARRELS FROM HERE TO
THERE.
BUT IT UNDERMINES CONFIDENCE,
IT UNDERMINES INVESTMENT.
IT IS AN NEGATIVE BUT THE
INDUSTRY AND THE WORLD ECONOMY.
>> AND YET, YOU HAVE TO TAKE A
STAND AT A CERTAIN POINT.
THAT IS PROBABLY WHAT THE
PRESIDENT WOULD SAY.
HOW DOES THE OIL PATCH FEEL
ABOUT THAT?
>> I THINK YOU SAID IT RIGHT,
IT IS VERY UNCLEAR HOW THIS
PLAYS OUT.
IT IS VERY POSSIBLE AND I THINK
THE INTENTION IS TOUGH
NEGOTIATING.
HE'S A BUSINESSMAN, THESE ARE
TOUGH TACTICS.
AT THE END OF THE DAY WE WILL
HAVE FREER TRADE WITH THE
EUROPEAN UNION AND CHINA.
IT IS A TREMENDOUS OUTCOME.
ABSOLUTELY THERE IS FEAR AND
IF TARIFFS REALLY GO ON AND
HANG IN FOR A WHILE, IT WILL
CAUSE DAMAGE TO THE INDUSTRY
AND THE WORLD ECONOMY.
>> I JUST DO NOT SEE IN THE
END, HAVING ANY KIND OF
ECONOMIC DEALINGS OR FINANCIAL
DEALINGS WITH A COUNTRY THAT
SAYS IT WANTS TO DESTROY THE
UNITED STATES OR WIPE A
DEMOCRACY OF THE EARTH.
HOW YOU CAN EVEN DO BUSINESS
WITH THEM!
WE WILL BE WATCHING ALL OF THIS
AND MORE.
CHRIS, THANK YOU FOR JOINING