Oil prices have plummeted to four year record lows, dropping to US$70 per barrel. Some countries such as Venezuela have urged the Organization of Petroleum Exporting Countries (OPEC) to cut production so as to raise prices. Program host Cody Weddle interviews Dr. Carlos Mendoza Potella, professor at the Central University of Venezuela, economist, and oil analyst. Mendoza analyzes the causes for the decline in oil prices, its effect on countries' economies, and the outlook for the industry. teleSUR