Venezuela, as we've talked about, has the highest proven reserves of oil in the world. No country has more. But the Venezuelan infrastructure has completely collapsed. Communism is not capable of producing what they should. And so Venezuela right now is producing about a million barrels a day, which is a fraction of what their capacity is. I will say, I asked one of the major CEOs, I said, okay, what would the time frame be to take Venezuela from 1 million barrels a day to 3 million barrels a day? (06:27–06:34)
CLAIM
Asserts that Venezuela is currently producing about one million barrels of oil per day.
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