the energy consultant phil verleger joins us.e talk about supply disruptions in canada and nigeria, they grabbed all the headlines, but it goes further than that, doesn't it? canada is new, nigeria's new, but -- venezuela is in it, as well. 1.8 or 1.7. it looks like we have drawn inventory globally. the industry is behaving that way. prices will keep going up as long as we keep drawing inventories. they won't go far because inventories are so high. we have about 500 million is fiveof oil, and that or six days of global consumption, which will take a year or two. if we keep cutting production, just like a drought affects the tornadoesorn, or affect crops, energy is just the new corn. if you think of it that way, it becomes less interesting. joe: you mentioned venezuela and production numbers there are probably lower than people think. it seems the day after day you hear more stories about that economy going into disarray. are you concerned that supply is going to drop even further? philip: i think it will drop a lot further. i put