When we first did this in Venezuela, keep in mind, gas was probably. I mean, a barrel of oil was about 50, $55 a barrel. That's It's not worth it for these guys to go into a new country and try and extract oil. It's not worth it for them to be in West Texas. They were shutting down wells. So the big oil producers, oil and gas producers, the Chevrons and Mobils, the Diamondbacks, they can get away with that. (15:15–15:21)
CLAIM
Asserts that it was not economically viable for oil companies to extract oil in new countries at $50-$55 per barrel.
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