is called, the initials is pdvsa. he replaced qualified engineers with cronies. he is crony capitalist. he put all his buddies in there. they were political leaders. not business people. not engineers. those are the people to a large extent that run pdvsa, that is why the company has gone down. it is also a huge polluter. we worry about pollution in our gulf and oil spills because of our oil companies? their oil companies are far, far worse than anything we could imagine. melissa: let's get stephen schork back in the conversation if he is still there before we go away. your reaction to all that? your reaction to the oil futures are rising. they aren't skyrocketing. do you think that's what we see for the next few days or what do you think happens from here? >> well i think, right now, melissa, with oil prices we've had a nice significant run lower from $98. we're flirting, this is nymex wti. down to $90 a barrel. we're back down into the range where we given back, that big run-up in oil prices we've had over the first

it started a decade ago after the big strike from pdvsa. what will happen, it will deteriorate. infrastructure of oil is in terrible conditions. emerging oil production in the united states is bound to affect venezuelan economy because that will be the obvious oil to be displaced from our market in the united states. so i mean, the whole thing doesn't bode well for the success, successor of hugo chavez especially if the guy doesn't have the charisma that chavez has got. melissa: do you think price of oil will go higher? >> yes and no. i expect it to go higher for other reasons. certainly the situation in venezuela will not help the price of oil. in other words will not put any downward trend toward the price of oil. melissa: we're looking at a chart today. crude futures are ink s.ing right now by better than 1%. a lot of that has to do with the fact that event in particular was expected. he had been sick for a long time. it was more than a two year-battle. what it really means for the long term price of oil what a lot of people are looking at. they're supposed to have the bigges