Well, it peaked around 3.7 million barrels a day. You know, it declined and it bounced back up again to almost 3 million barrels a day. And then When Chavez came in power, it has been a steady, massive decline. Think of how enormous the resources must be if it's still producing 8 or 900,000 barrels a day after that kind of mismanagement. So I think the upside there is huge. (09:46–09:52)
CLAIM
Asserts that Venezuelan oil production has steadily declined since Chavez came to power.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
