#podcast @thecrudetruth9585
@davidblackmon6807 #energytransition #oilandgas #geopolitics
David Blackmon – https://davidblackmon.substack.com/
Rey Trevino – https://thecrudetruth.com/
Stu Turley, – https://energynewsbeat.co/
Highlights of the Podcast:
01:32 – The poster child for years on renewable energy
02:38 – Germany’s economy will not do well this year
06:55 – ESG investing can also include natural gas
08:48 – Tax in tax incentives are from profits from companies.
11:18 – The regulatory issues in the US
16:12 – The Nape Presents the Crude Truth with David Blackmon and Stuart Turley podcast pavilion.
With 3 unique personalities, backgrounds, and one horrible team sense of humor, it makes for fun talks around the energy markets.
David Blackmon is a Forbes author and currently writes Energy Absurdities of the Day. He has several active podcasts with ….. His industry leadership is evident, but a dry, calm way of expressing himself adds a different twist.
R.T. Trevillon is the podcast host of The Crude Truth filmed in Fort Worth Texas and runs an oil and gas E&P company. Pecos Country Operating has been in business for ….years and has a constant commitment to all of their stakeholders and is actively working in this oil and gas market.
Stu Turley is the co-podcast host of the Energy News Beat Podcast. While Stu is a legend in his own mind, Theenergynewsbeat@substack.com
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If you have any questions, please reach out to us. We want to answer all questions, and if you have what it takes to be a podcast host and you want your show reach out.
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
3 Podcasters Walk in a Bar EP 44 – The guys talks about ESG investing can also include natural gas
Stuart Turley [00:00:13] If you ever have that uncle, that crazy old uncle at Christmas when he was sit there and he kind of walk up and he’d tell you, look at the family with a straight face and say, all of a sudden these three guys walk into a bar. Well, I happen to know the other two. One of them is out on his yacht in the middle of the Caribbean. So David’s on assignment. We’re going to hold him. Do it next week. So we got RT. We got the Rey Treviño the third. He is a big dog over there at Pecos operating company. And I mean, he’s got a wonderful podcast, The Crude Truth. Great numbers. Welcome. Thank you very much.
Rey Treviño [00:00:52] Well, thank you. Stu, as always for having me on this two podcasters edition. You know, David again, is that on assignment in the Caribbean? I hope he comes back.
Stuart Turley [00:01:00] Oh, yeah.
Rey Treviño [00:01:01] Nothing else. Hopefully finds a good ten and and maybe, maybe a little bit of a smile. Who knows?
Stuart Turley [00:01:07] I got some stuff on that. But, David, we love you. We miss you. And, but we’re going to talk about you because your energy absurdity, is absolutely one of the best Substack to subscribe to, and today is no exception. I mean, we’re talking, Germany is going nuts. And, RT, it was weird that Germany, has been the poster child for years on renewable energy. They shut down their their nuclear reactors.
Rey Treviño [00:01:39] Yes.
Stuart Turley [00:01:40] Then they have to fire back up all of their, coal plants.
Rey Treviño [00:01:45] Yep.
Stuart Turley [00:01:46] And they’re having to tear down wind farms because they got coal plants there, and they’ve run all their business out. BASF has had to move to China for their fertilizer. And so David’s article on his Substack. It’ll be in the show notes was very simple when it was like, is this intentional, RT? You can’t be this evil and stupid at the same time.
Rey Treviño [00:02:12] It blows me away, you know? The way that Germany has been, I guess what? They’ve been the poster child on what not to do.
Stuart Turley [00:02:19] Exactly.
Rey Treviño [00:02:20] Okay. And I didn’t quite know. I was like, well, what about.
Stuart Turley [00:02:23] California? Newsom has been saying we’re going to follow Germany.
Rey Treviño [00:02:29] That’s that’s it. Let’s let’s table that discussion for a second and get back to Germany, because I even had a great Substack article last week about how just Germany’s economy will not do well this year due to their decisions that they’ve made on renewables over consistent energy, efficient, reliable, abundant, inexpensive, right. Fuel sources. And I think in that, and David, and David Blackmon’s article, excuse me, David, he even mentioned that I think it was a graph that they’re now using less. Thank you so much, Megan. And of course, that was just a shout-out to our, waitress today. Again, we’re coming to you from the flying saucer in downtown Fort Worth. Thank you, as always to them. And, if you guys ever get a chance to get over and have a cold pint, have a good pint at the flying saucer.
Stuart Turley [00:03:21] Absolutely.
Rey Treviño [00:03:21] Okay. Back. Yes, back to David Blackman. There’s a graph in there, and, you know, hey, you know, from the generation of look at the graphs, you know. Yeah, it’s clear Germany is now using less electricity than they were in the 1970s.
Stuart Turley [00:03:35] Yes, 1978. And, I can actually remember 1978 since Noah and I were wonderful friends. But in 1978, you can see that they have, demolished their wonderful all of their stuff. VW has even closed some of their plants, and they’re not building any new plants. So the gross domestic product, for, GDP for Germany is down. And and then the next thing is so goes Germany, goes to the, EU. So, I mean, it is the largest one there. So if Governor Newsom, who was just seen having, lunch with the Clintons in Mexico, it was pretty funny. But if you sit back and sit and take a look. California is having the same high energy costs. And the reason that he points out in this article is the fact that the energy is so expensive, businesses have left and people can’t afford to run anything at home. So they’re trying to use as least amount of energy and they’re still spending more.
Rey Treviño [00:04:50] Jesus, that’s an oxymoron, if I ever said so myself.
Stuart Turley [00:04:54] I resemble that remark. So.
Rey Treviño [00:05:00] You know, on part. I tell you what, this, just the whole upside down world and and we talk about ESG right here. Germany has gone the way that we should go. Just think about the year that we’re having this year in 2024. ESG investments have Tanked. .
Stuart Turley [00:05:17] And they have. And it’s it’s just unbelievable. Blackrock lost $5 trillion last year in their ESG funds. And so what was so fun was Cop 28 when heads were exploding on Cop 28 when they had to include natural gas. That remember the president of Cop 28 was, from the UAE? That’s right. And he’s an oil company guy. And so they said, we’ll transition away when reasonable. Yeah. Oh, I mean, I thought I was going to see John Kerry just absolutely go. Well, here’s the point. Blackrock. Larry Fink has said we are investing in oil and gas. Here’s the biggest. And olive oil guy on the planet. Now trying to say that the investors need their money back.
Rey Treviño [00:06:15] Yeah.
Stuart Turley [00:06:16] Vanguard’s doing the same thing. And all of the others. And the discussions I’m having. RT are phenomenal. Yeah, people are wanting to say, hey, I’m getting like, killed in California. And we’ve talked about you, and I have laughed about the fact that, U-Haul, the highest rates in U-Haul history, are coming from California to Texas. Nobody wants to go back. But it’s the tax deduction and investing in ESG for folks that actually know what they’re doing. I’ve got a bunch of other stuff coming around.
Rey Treviño [00:06:51] Investing in ESG that actually know what to do. What do you mean?
Stuart Turley [00:06:55] Because ESG investing can also include natural gas. You can’t go to the grid without having natural gas. Now, here’s where ESG investing comes in. You can have Bitcoin mining. You can also just invest directly into the EMP operators. And the way that happens is if they are doing carbon capture, if they’re watching their emissions, if they are actually following the regulations, you can have the right EMP company doing and following best practices and you get the tax deduction.
Rey Treviño [00:07:34] Now there is a difference between a tax deduction and a subsidy right.
Stuart Turley [00:07:38] Oh absolutely. You know that bad dog. Which one is is subsidy is Tammy Nemeth brought this out on the show on on Monday. And David was still out on his yacht in the middle of the Caribbean, and and Tammy was way cool. She said, you know, a subsidy is like, the high price of energy is so high that they have to give a subsidy to the end users in Germany or the EU or the UK. The UK has had to have subsidies go in order. Subsidies come in to the disproportionately impacted communities in the US, giving them a heat pump. But here’s the here’s the bad part about subsidies. They don’t work as intended. Okay, so all the subsidies do is help eliminate the higher cost, which is hurting the middle class, which is taking away from them. So with high costs of energy, you’re wiping out the middle class and you’re creating more poor people, higher cost of energy. I kid you not.
Rey Treviño [00:08:47] And
Stuart Turley [00:08:48] Tax in tax incentives are from profits from companies. So if you look for tax incentives going in, all of a sudden the tax incentives actually make a huge difference because somebody’s had to make some profit in order to do that. On on EVs.
Rey Treviño [00:09:07] Yeah.
Stuart Turley [00:09:08] We can’t go to EVs because you’re going to get a 7 to $14,000, tax rebate. How much money do you have to make in order to get that to that? You’re going to save money and not pay that in taxes?
Rey Treviño [00:09:24] Oh, wow.
Stuart Turley [00:09:25] Think about that. The average median income, I believe in the US is around $86,000. If you’re at $86,000 in the mid, middle class, you know you’re not going to get be able to take advantage of an EV. So I had a family member look at me the other day at Christmas and I just had to leave. He said, everybody can afford an EV. I’m like, no. And then you can’t even plug them in to charge them.
Rey Treviño [00:09:53] I know, because what if everybody was at your house? Would you have enough chargers to plug everybody up? No. Never thought about that.
Stuart Turley [00:10:00] No, but it’s even bringing in the grid. You can’t bring in the grid because of the, circuits? No. There are people in California trying to buy EVs, but the grid is not capable of supporting more than 100 back to a house.
Rey Treviño [00:10:15] Wow.
Stuart Turley [00:10:16] Oops.
Rey Treviño [00:10:16] Oops. There’s just so much going on. I mean, you know, I’m glad you got, because a lot of people are like. Well, it’s just about a subsidy, right? Like, no, you know, tax deductions are not subsidies.
Stuart Turley [00:10:29] Yeah.
Rey Treviño [00:10:29] Just glad you’re able to make a difference.
Stuart Turley [00:10:31] There’s a difference. Are you using me up?
Rey Treviño [00:10:35] Well, Tim, you know, it’s.
Stuart Turley [00:10:37] Easy because you do that to me all the time. That was intentional. It’s like, guys, when I walk down the hall and RT, you go, hey, stupid. And I answer it.
Rey Treviño [00:10:50] So I don’t know.
Stuart Turley [00:10:51] I don’t know.
Rey Treviño [00:10:52] Yeah, I got nothing on that one.
Stuart Turley [00:10:54] No, the truth hurts. Okay, so RT when you sit back and we take a look at what’s coming around the corner for energy, nuclear. Your talk with Grace Stanke is phenomenal. I thought you did fabulous on that. And so, she has some great things. We’re seeing some great nuclear things coming around the corner. The, problem is the regulatory issues in the US. If you know your senator, if you know your, Congress representative, reach out to them and call them, because it’s not only the wind, it’s not only the solar, it’s nuclear, it’s oil and gas. It is everything.
Rey Treviño [00:11:36] Everything.
Stuart Turley [00:11:36] Everything is getting shut down. There are 24,000 energy projects that they can’t connect to the grid right now.
Rey Treviño [00:11:45] You know, I mean, if when I I’ll tell you this and I’ll look at the camera, but I can’t figure out how to make a dollar from nuclear Pecos country is going to the nuclear. That’s. I’m not lying. So if anybody out there that’s listening that has an idea of, please let me know. Well, just from everything that you’re doing. Because guess what? How far can a nuclear sub travel?
Stuart Turley [00:12:11] Long Way.
Rey Treviño [00:12:12] Forever So why would I not want to produce an energy source that I could charge people for, right? For? I mean, I’m not having to worry about, you know, and I love my oil and gas, but I’m going to worry about pump maintenance, finding new sources. I mean, heaven forbid. So, I mean, nuclear’s doing great in other parts of the world, even in Japan, where they have probably seen the worst of nuclear. You know, I kind of now looking at nuclear the way Thomas Edison used to go against Tesla with, direct current.
Stuart Turley [00:12:49] Right.
Rey Treviño [00:12:50] And that Thomas Edison was showing all the negatives that Tesla’s, which we all use today as his warm electricity because Thomas Edison created, is known creating the electric chair.
Stuart Turley [00:13:03] Right.
Rey Treviño [00:13:04] It’s something else because he was trying to dismiss and scare everybody, With Tesla’s one way electricity. And yet, I would say Japan probably has the 100% most reasons not to ever have nuclear. And yet they supply most of their energy from nuclear down. And the rest of the world is also doing more and more nuclear.
Stuart Turley [00:13:27] Yes,.
Rey Treviño [00:13:27] But not in America.
Stuart Turley [00:13:28] No, it’s because regulatory issues, legislation through regulatory issues equals higher energy price.
Rey Treviño [00:13:36] But you know what? I don’t see too many politicians that are really going nuclear, baby.
Stuart Turley [00:13:42] No. But I want to give a, shout out to Doug Sandridge, who I’m going to introduce you to. I signed a, petition. Yes. And I’m going to sign a petition. And it is for oil executives that are for nuclear. And I’m going to introduce you to him. And we’ve had Chris Wright sign it. And a lots of other David have signed it. And you didn’t get the memo?
Rey Treviño [00:14:05] No, I did not, I did not. That’s okay. I promise you no. Well, I think on the top of my list, I tell you, you know, we’ve, we had a great 2023.
Rey Treviño [00:14:16] Oh, yeah.
Stuart Turley [00:14:16] We’ve been having a better, more busy 2024. I mean, you and I were talking beforehand. I was like, how much time do I have to really work on?
Stuart Turley [00:14:24] Yeah, I’m I’m going to be a testament here. He has no time. So, but, you know, you’re one of the hardest working cats I know.
Rey Treviño [00:14:34] No, I tell you what, you know, I always enjoy putting these out there. And I enjoy coming here to the. I’d like doing them at the bar more. It’s just more fun, you know, something is. And, it’s a fun little break from the monotony of the day.
Stuart Turley [00:14:47] Oh, absolutely.
Rey Treviño [00:14:48] The fact that you and I and David Blackmon get to sit here, laugh a little bit, but talk about energy.
Stuart Turley [00:14:54] Yep.
Rey Treviño [00:14:54] And we even had on a guest doctor in Ireland came. Hopefully we’ll have more people on this year. I think that was very fun.
Stuart Turley [00:15:01] Oh, I.
Rey Treviño [00:15:02] I think we should.
Stuart Turley [00:15:04] If you want to be on the 3 podcasters, walk into the bar. We want to have a party with you. So come on, just let us know. Reach out to either David Blackmon, RT Rey Treviño the third, or me Stuart Turley on LinkedIn. And, RT, how can they find you?
Rey Treviño [00:15:22] Oh, definitely on LinkedIn at Rey Treviño the third or the Crude Truth.com. Right. Also, we got, we’ll we’re updating, but right now we got our website up. Well. My God, what is it? Pecos operating. Pecos operating dot Com.
Stuart Turley [00:15:39] Right.
Rey Treviño [00:15:40] And, you know, we’re just we’re gearing up for 2024.
Stuart Turley [00:15:43] You and I, we’re looking in that, like, headline in the, deer in headlights.
Rey Treviño [00:15:47] You know, as we’re getting closer and we roll this out, man, we’re getting ready for Nape.
Stuart Turley [00:15:50] Isn’t that fun?
Rey Treviño [00:15:51] And I’ve really been working on it. You know, I wrote I work for an oil and gas company, right? And so we’re getting ready. We’ve got some great projects that we’re doing in 2024 that we’re going to actually have at Nape, have great digital, showing of it, you know, of, of some great news.
Stuart Turley [00:16:09] The podcast pavilion.
Rey Treviño [00:16:10] Yes. It’s going to be the Nape, the Nape Presents the Crude Truth with David Blackmon and Stuart Turley podcast pavilion.
Stuart Turley [00:16:17] Right.
Rey Treviño [00:16:18] Something like that. And, but we want to say thank you to Nape Expo for allowing us to be out there.
Stuart Turley [00:16:23] Right.
Rey Treviño [00:16:24] We’re going to have a great podcast pavilion. And, so we’re going to have on some great guests, and we’re even gonna have some wonderful people coming in. Right.
Stuart Turley [00:16:32] And I want to give a shout out to, John Farrell and Aaron Summers over at, well, database. They’ve already kicked out to a huge email blast.
Rey Treviño [00:16:42] Yeah,.
Stuart Turley [00:16:42] You’ve got some folks lining up. I got some folks lining up, and, they’re a, sponsor on Nape, and we’re going to be doing live deal evaluations. So we got a whole team. We got a live podcast.
Rey Treviño [00:16:56] Yeah,.
Stuart Turley [00:16:56] We got a live deal, evaluations, and not every deal. Should you invest in. You want it validated? Hey, I know people.
Rey Treviño [00:17:08] And we may even be able to do a little a little light in happy hour while we’re there. We’ll see. We’ll see.
Stuart Turley [00:17:12] Thanks.
Rey Treviño [00:17:13] Oh, well, no, not confirmed yet, but we don’t know. And, but I’m just excited. We got a great first quarter in 2024. Still, David, you know, hurry up and get back from assignment.
Stuart Turley [00:17:23] Right.
Rey Treviño [00:17:24] And, you know, I just thank you all so much.
Stuart Turley [00:17:26] And, he doesn’t want to he doesn’t like being alone with me because I’m too funny. So with that, thank you. Very much. Appreciate all of you.
Rey Treviño [00:17:35] Adios.
