i'm joined now by david goldwyn. secretary under bill clinton and also served as the us state department's special envoy for international energy affairs from 2009 to 2011. david is now president of energy consultancy goldwyn global strategies. hejoins me from washington, dc. david, we spent half the interview with me introducing you. but you are uniquely well—positioned to explain the value of this move. it is, i thinkjoe biden called it the largest ever release of oil like this, and yet initially crude prices actually went up. thanks, you're very kind. i think is the president said in his statement, it's too early to tell the impact of this. it is really all about what happens injanuary. the oil went in the market until mid—december, 0pec is deciding what it wants to do forjanuary delivery, and it is a question of whether you think demand will be and how big a surplus will be and how big a surplus will there be. what is really significant about this is you have all the major consuming nations doing some contribution