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DrillingInfo - our sponsor! globalenergymedia.com/courthouseTrump pulls out of the Iran Deal, what does it mean for geopolitics and oil?- sunset clauses in the agreement were clearly an issue, do not prevent Iran from getting a nuclear weapon in the future. Apparently Obama admin banking on regime change or regime moderation?- CNBC Power Lunch appearance: https://www.cnbc.com/video/2018/05/08/iran-nuclear-deal-whats-at-stake.htmlMessage this sends to North Korea could be a challengeIran's economy is already failing - January protestsBoeing deal with Iran - US will revoke Boeing's license but Boeing appears to have other buyers lined upUS talks to oil producers about increasing outputhttps://www.ft.com/content/c758f11c-530d-11e8-b24e-cad6aa67e23eSecretary Mnuchin wants oil producers outside the US to increase production but will OPEC be interested in this? Impact on US producers is positive!More problems for Venezuelahttps://www.reuters.com/article/us-conocophillips-pdvsa-assets/conoco-moves-to-take-over-venezuelan-pdvsas-caribbean-assets-sources-idUSKBN1I70RAConoco was awarded a $2billion settlement from Venezuela for nationalizations that happened a decade ago and Conoco is now confiscating assets from Venezuela's oil company in the Caribbean. Venezuela says it will divert oil from there, but can it?!Forecasters aren't just wrong, they're REALLY wrong when it comes to oil priceshttps://www.wsj.com/articles/oil-costs-how-much-how-the-oil-rally-took-forecasters-by-surprise-1525608000Check out Ellen's opinion piece in the New York Times:"How to Save the Saudi Golden Goose" https://www.nytimes.com/2018/05/08/opinion/saudi-aramco-ipo-independence.html