alix: charif souki, good to see. thank you for joining us in london. charif souki, the former ceo of cheniere. vonnie: fantastic interview. it will be interesting to follow the cheniere story and see which strategy wins or what have won the day. that is cheniere founder, charif souki, current shareholder of cheniere. ♪ i want to bring you some breaking news now on bloomberg markets. donald trump and paul ryan had that much-anticipated meeting and have issued a joint statement, which in itself is a statement. i want to let you know they called the conversation a great conversation, the same words that rents previous, the rnc chairman used about the conversation. just to bring us the critical parts of the statement, they are saying it is why it is critical republicans unite around shared principal's, advance a conservative agenda, and do all they can to win this fall. they are totally committed to working together to achieve the goal and they recognize there are important areas of common ground, even though there are few diseases. that is how they charac

can you remind us why the founder, charif souki was ousted in december? s for you, carl icahn. carl icahn had a 13% stake in cheniere energy. the stock price did not do good through august. in november, sharif souki got the boot. carl icahn said that sharif souki had harebrained ideas and did not want him running the company anymore. he took a very activist stake in the company. what sharif said he wanted to grow cheniere energy very just on the, not export terminal side, but into oil. he wanted to diversify into oil expert terminals as well. carl icahn wanted to streamline it and make it more of a predictable business at the end of the day. i am pure phrasing there. when i spoke to neil shearer, the interim ceo, he said, the ceo and board run cheniere energy. my interpretation is that carl icahn wasn't and wasn't having day-to-day operational expertise. however, you can imagine that the new ceo of cheniere energy would not get his spot without carl icon approval. near -- they said they are turning it into a predictable business model. not a lot of growth

erik: at the very least, carl claims to have played in the ouster of charif souki.t good for cheniere? jim: once the contracts are signed in the construction was underway come i think probably they needed a new leader so i would agree with that. but a lot of this is arty set in stone at this point. all the things it could go wrong only add to the story from the bear case. again, we are using the company's projections. if there is anything we have learned is that companies can be a little bit too optimistic. erik: what about the rest of the energy complex? jim: we are not making any productions on oil. i think part of the problem with the energy space is the dynamics of the businesses. you can belong the commodity and be short the companies. i think there is a lot of agency risk in the energy business. in allows people to have their hands up if we get paid as a shareholder. you saw the chesapeake debt equity swap this morning. the other problem i have is the two big models we look at domestically, expiration production business and then the large integrated companies