… sold in a normal way, a normal oil industry, not one dominated by cronies, not one dominated by graft and corruption. To that end, the authorities there deserve some credit. They have passed a new hydrocarbon law that basically eradicates many of the Chavez era restrictions on private investment in the oil industry. It probably doesn't go far enough to attract sufficient investment, but it's a big step from where they were three weeks ago. So that's a major change. (20:00–20:08)
CLAIM
Asserts that Venezuela passed a new hydrocarbon law reducing Chavez-era restrictions on private oil investment.
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.
