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For having the on. Theres five of us that are commissioners of the fcc. We serve staggered terms of every year one member of the commission is up for renomination and confirmation by the senate and the process continues a respective of the outcome of the election. For instance, my term runs through 2023 and i can hold over for a longer time potentially and im going to continue to serve regardless of the outcome of the election. Host and with Michael Orielly not being we nominated by the president , if there were a change in administration, you and commissioner pai would be the republican, correct . Guest yes. Michael orielly has her longtime both on capitol hill and at the fcc and his term expired a year and half ago and we are allowed to stay on until the end of this congress when were in that situation whether it is any one of us commissioners. Commissioner of violence term come to an end and commissioner pai, chairman pai and ....
My term runs through 2023. That can hold over for a longer period of time and i will continue to serve regardless of the outcome of the election. With Michael Orielly not being renominated by the president , if there was a change in the administration, you would be the two republicans, correct . Michael orielly has served for a long time. His term expired a year and a half ago. We are allowed to stay on until the end of this congress. When we are in this situation, that will push his term will come to an end. Pye and myself will continue to serve. To the policies. In an election year, are you able to get things done . The sec has been incredibly busy. This interview right here goes the part of it. We are in three different haitians right now. Locations right now. Covid changed the lives of so Many Americans in different ways. Overnight, our lives shifted onto the internet. W ....
Have we reached a bottom or is this still more room to fall for oil prices its possible that theres more room to fall if opec and plus russia doesnt actually end up coming through with those supply cuts if they dont then you could see will fall further and therefore will fall through the 50. 00 to 55. 00 area i think in the near term youre going to see a lot of traders get on shorts and take that lower but i think that will be short lived i think ultimately the risk is really more to the upside than the downside and so there are actually traders out there you know ranting supertankers and will facility space in south korea to the to the millions of barrels of oil that theyre storing on that oil will eventually rise and i believe that theyre right now sean are we still looking at a chance that chinese Oil Storage Capacity could actually run out and oil prices overshoot even more to the downside. Its possible they dont really ....
Also cut supply again by 1700000 Barrels Per Day though any decision made was obviously take time to implement so where do you think this equilibrium is at and have we reached a bottom or is this still more room to fall for oil prices. Its possible that theres more room to fall if opec and plus russia doesnt actually end up coming through with those supply cuts if they dont then you could see oil fall further and if oil falls through the 50 1. 00 to 55. 00 area i think in the near term youre going to see a lot of traders get on short and take that lower but i think that will be short lived i think ultimately the risk is really more to the upside than the downside and so there are actually traders out there you know running supertankers in. A facility space in south korea to the tune of millions of barrels of oil that theyre storing on bets that oil will eventually rise and i believe that theyre right. Are we still looking at a ch ....
Theres more room to fall if opec and plus russia doesnt actually end up coming through with those supply cuts if they dont then you could see will fall further and therefore will fall through the 50. 00 to 55. 00 area i think in the near term youre going to see a lot of traders get on short and take that lower but i think that will be short lived i think ultimately the risk is really more to the upside than the downside and so there are actually traders out there you know running supertankers and will facility space in south korea to the to the millions of barrels of oil that theyre storing on that oil will eventually rise and i believe that theyre right now sean are we still looking at a chance that chinese Oil Storage Capacity could actually run out and oil prices overshoot even more to the downside. Its possible they dont really publish their numbers officially but from what i gather theres about 400000000 barrels that th ....