3 Podcasters walk into a Bar – Why are Oil prices up, Nat Gas flat and where is carbon credits?

 

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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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter. Comming soon 

Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

3 Podcasters walk into a Bar – Why are Oil prices up, Nat Gas flat and where is carbon credits?

 

Rey Treviño [00:00:00] Are too much stuff in the background.

 

Stuart Turley [00:00:01] No. You got some nose hair. Hello, everybody. Welcome to the Energy Newsbeat podcast. We are now live. And I’ll tell you what. You ever had that crazy old uncle sitting there kind of looking around, and he starts this joke? Well, these three guys are walking in a bar, and if you’re at a Christmas party, you’re digging for carpet because you just don’t want to have anything do that. I have no the other two guys that are in that three podcasters walk into a bar. I’ve got David Blackmon. David is a Substack author. He is a contributing author for Forbes. He is with The Telegraph. He’s with the Daily Caller, and he is also on the energy realities. What a busy man. How are you today?

 

David Blackmon [00:00:48] Oh, just great. Just great. Just got finished, interviewing Doug Robinson, who’s, spearheading a big modular nuclear project down of DCU. It’s, such a fascinating topic, but, yeah. Doing great. Beautiful day.

 

Stuart Turley [00:01:02] Oh, that’ll be fantastic. Next coming around the corner. Whether you like it or not. RT, we’ve got an oil man on this board. We got the RT Trevino and RT is in rare form today shaving his back. How are you today? You’re a guest post for the three. I mean, the crude truth. You are also got your own Substack. And you are an animal about town. How are you?

 

Rey Treviño [00:01:28]  Oh, my goodness, I’m doing well. Thank you so much again. And, it’s good to be back with you, gentlemen. I feel like it has been a whirlwind of a tour lately. Just to connect with you all, I feel like I had to watch your Monday episode of, energy. Relatable. What’s it called? I watched it. We have the energy reality that to watch energy reality just to kind of be like, okay, get back in the groove of weather. I’ve been out in West America or West Texas. It’s been a full for couple of weeks, and I’m glad to be here. And, I will say this, you two definitely hold your own on three podcasters when I can’t be here. So, you guys, you know this here, and it’s not.

 

Stuart Turley [00:02:09] Yeah. You’re the anchor, buddy. We can’t do anything without you. Hey, let’s bring up our, little agenda here. And just because things are weird now, they were weird before I did this meme. Two over two and a half years ago for our podcast listeners. There’s a lady screaming in her car, and a dog is throwing up some green bird. And I went in and I put on here, when your board tells you to go green and deliver a profit. I did that two and a half years ago and it was a success on the internet. It got two likes.

 

David Blackmon [00:02:48] Two likes. All right.

 

Stuart Turley [00:02:49] 2 likes. Yes.

 

David Blackmon [00:02:50] More than I usually get.

 

Stuart Turley [00:02:51] No. Yeah. Anyway, I love that one. Here’s another one. Right now that we’ve got rolling on. This is from Tammy Nemeth. She is the, main star over there on the energy, reality podcast. And look at this. She did a story out there about this big smart meter watching you and David. That article is pretty scary when you think that the meters are going to start telling you how long you have to cook your food, how long you’re going to be able to do it. And for a podcast listeners, there is a, cartoon with everybody frantically trying to do household, duties. And then that, you got the sweeper down there going it’s way past my bedtime, and they got three minutes to iron their clothes, do laundry. And that poor girl, I’m jealous because she has hair that she’s drying her hair. Yeah.

 

David Blackmon [00:03:48] I haven’t had to use one of those in a long time. I don’t know.

 

Stuart Turley [00:03:51] But anyway, shout out to Tammy for providing some great stuff. Let’s get kicked off on to David’s stories.

 

David Blackmon [00:03:59] Oh my goodness. Yeah, well, we had a big hail storm here recently down around Houston, south of Houston. And it slammed into a 3300 acre size solar farm. Okay. That has been built covering 3300 acres of arable land and one of the most fertile parts of the state of Texas. So instead of growing, growing rice or corn, which is traditionally been the crops down in that part of Texas, it’s growing, solar panels. And.

 

Stuart Turley [00:04:32] Hey, David, while we’re talking about this, you want me to bring the video up? I’ll turn the thing. Oh, yeah.

 

David Blackmon [00:04:37] Bring that video up. That’s awesome. And here’s that huge solar farm, and it got hit by a hailstorm with not particularly big size stones. They were apparently about the size of a golf ball, which is, you know, strong enough to break glass. But they get a lot bigger in Texas. I, remember Fort Worth in 1995 when. 3 or 4 people got killed at the May 1st event, and when that storm was softball sized, hail, hail hit and and killed several people. Really, really terrible event. So, you know, this is one of the drawbacks with solar. We’re building these all these big solar industrial sites in the middle of the fairway for hail storms, here in Texas, in the middle of America. And, it’s really a bad idea. So we’re going to be seeing a lot of this in the years to come. And, you know, you don’t have to worry about a hail storm, putting a nuclear reactor out of business, or a natural gas power plant out of business, or a coal fired power plant out of business.

 

Stuart Turley [00:05:47] Now, you know, David, and what what scares me about that video is the solar panel waste is now toxic. And the. That farmland, that wonderful farmland, is now ruined. How are we going to get that out of there? Who’s going to pay for the reclamation? Reclamation of that?

 

David Blackmon [00:06:09] Yeah, that’s and that’s a bad part of it because there’s no regulations governing that in Texas or anywhere else. And it’s not just, any sort of toxic waste. It’s also the shards of glass that are now all over the ground out there. Oh, are you ever going to clean that up? Yeah. You know, I and these developers, I don’t know, I don’t know the situation when it comes to insuring these things against hail storms, right. I assume you would have to insure it to be able to raise the financing for a project like that. But, you know, the insurance companies, just as we’ve seen with hurricanes along the coast, eventually they’re going to get tired of ensuring that sort of thing. Right, and raise rates so high that you won’t be able to afford them. And, you know, I it just is all going to come down to whether wind and solar or a concern to how much higher utility bills we’re all going to be willing to fund in order to have that form of intermittent, unreliable energy on the grid.

 

Stuart Turley [00:07:17] Well, you know RT, you and I had talked about in the past about the insurance companies may be squashing the energy transition, you know, because in, in the UK, and we’ve seen this, my even my father in law has got twice as much to, to pay for his Tesla’s insurance.

 

Rey Treviño [00:07:36] Well you know that’s funny. You mentioned Tesla. I mean maybe that’s what these green companies need to do. I mean Tesla basically built his own insurance company to insure his cars. Maybe that’s what some of these green companies are going to have to do is like, we’re going to need to start our own insurance company. Wow. You know, to, to insure these glass and and I just can only I can only think about the regulations that go into into effect when we actually have to, like, kick up oil that may or may not have spilled on the ground. What is all going to have to go into this for? Because there’s so much shards of glass on the ground. You’ve got whatever. Animals around there are obviously impacted by this in a lot worse way. I would think. And so hopefully they’re getting out there and getting it cleaned up as soon as possible.

 

Stuart Turley [00:08:21] One of the things that gets me, guys is on the reclamation of, solar, panels that are now out of date, five years, you know, six years. When they start wearing out, they’re being thrown out into landfills. And then what’s even worse is we’re putting them on barges and shipping them to Africa. We’re shipping them around the world. And I think it’s despicable, as the West is, putting our solar panels that were made in China, funded by our taxpayers, shipped here, then they’re abused, and then they’re shipped back out to be disposed in other countries.

 

Rey Treviño [00:08:58] Yeah.

 

Stuart Turley [00:08:59] We’re hypocrites anyway. Never. Never that. Sorry. Okay. The U.S. is now producing more oil and gas than as a nation. It’s a triumph. David, that’s yours.

 

David Blackmon [00:09:13] More than anybody has ever produced 13 million barrels a day. Yeah, for the last six months, which is 3 million barrels a day, more than the second largest, producer, Saudi Arabia. And by the way, probably exceed Saudi Arabia’s excess capacity, too, because they have a lot of reserve capacity. And people estimate that to be around 3 million barrels a day. So even if Saudi Arabia was to start pumping full out, they still probably wouldn’t, exceed what the United States industry has managed to do. And we’ve achieved these record levels of production in the face of a steadily falling rig count. It’s down 25% year over year. And and in an administration that is doing whatever it can to impede the progress of the industry. So that’s a pretty extraordinary achievement. And I thought it was worth writing about that this week.

 

Rey Treviño [00:10:12] I think so. I mean, thank you, Uncle Joe. I mean, you know, as I like to tell, people are spigots are open. More than that, you never will open up a valve all the way that say you never want to open a valve all the way. But we’re we’re pretty close. We’re pretty close. And. And it’s. Why? Because we’re just making, we’re producing more oil than we can, like you said, that we can drill. We’re unable to get the permits that we need. We’re unable to get, the supplies that we need for some of these. Well, so we want to drill and more importantly, we have a government like you said, that is just totally anti oil right now. So all we can do right now is produce, get money back to, you know, whether it’s a shareholder or an investor and just show them how strong we are and just pray to God that we’re not in a supply shortage like we’ve been talking about. You know, as oxy said a couple of weeks ago, as oxy continues to do even more, purchasing right now. So it’s kind of kind of interesting.

 

David Blackmon [00:11:07] Yeah. Vicki Hallam, made some really interesting comments recently when she talked about her belief that we’re going to be in a structural supply shortage of crude oil by the end of 2025. We’ve seen that coming for for several years now. I’ve been saying.

 

Stuart Turley [00:11:24] Structural shortage.

 

David Blackmon [00:11:26] Structural will mean the industry will have an inability to meet demand right now. The industry, including OPEC plus, with its voluntary reductions and limitations in exports, is supplying enough to meet demand. What Vicky Hollub was saying is that it will become a structural issue in which the world simply does not have the capacity to produce enough oil to meet demand by 2025. And that’s because over the past ten years, ESG investor groups like Blackrock and others Vanguard have withheld funding for major oil and gas development projects, and we haven’t been able to to finance projects that, would have found enough new reserves to replace what we’re producing every year. And so, we’re have a looming structural shortage by the end of 2025, according to Vicki Hallam. And not everyone agrees with that. But I think she’s probably pretty spot on, frankly. When that happens, what’s going to happen to the price of oil? It’s going to go crazy. And, and that’s going to create an awful lot of economic disruption around the world.

 

Rey Treviño [00:12:48] Well, let’s just let’s just look at it today as we record live, which is pretty cool. We’re out of about $80 a barrel, and it’s because of our production that we have right now that we’ve been able to keep this price of oil between 70 and $80 for the last six months. Right. So if we didn’t even have this production right now that we have, we would not even, you know, we would be at much higher prices. So it’s very scary that even though we’re at $80 oil today, where this price could go with this supply shortage in 2025, you know.

 

David Blackmon [00:13:22] Yep. Could be could be pretty tough. You know, and I, I’ve, people call me or sometimes because I’ve been predicting an energy catastrophe to happen, global energy catastrophe within the next few years. That would be part of it. Problems with capacity, on the power grid would be another big part of. And it’s all being created by ESG philosophy and crazy, crazy government policies in Washington and all over the Western world. Yeah,.

 

Rey Treviño [00:13:54] These, these policies that are being set right now, and some of them are even being set by, you know, press release. It’s it’s such an upside down world right now. Again, here we are. America’s producing more oil than Saudi Arabia. We have two wars going on. And yet the price of oil is still below $100 a barrel. What a time it is in America and in the world right now. Yep.

 

Stuart Turley [00:14:19] Yeah. You had this on your Substack. I thought it was a pretty good article.

 

Rey Treviño [00:14:23] Well, yeah. No, kind of just, you know, continuing to go and and go with it with David on this one and, off of his, article that he wrote, you know, with all this record production that we have right now, it just blows me away that, you know, it’s really because of all the drilling, you know, the technologies that we have, we’re finally getting to a spot where we can do things a little bit less expensive, but yet still more things are still more expensive to do. And, I mean, you figure right now they’re expecting us to actually even be producing more by the end of 2024 than we are right now. So it just is really mind blowing right now. Again, I’ll use the words, you know, as, as, the faucets are getting turned on full blast right now. Exxon, everybody’s making a great dollar. I think dividends are paying ridiculous right now for a lot of individuals. And why not? You know, we’re producing and we have no issues, with that right now, you know, so that’s why I really enjoyed that article and how to release it. So if you don’t if you’re not connected to the, the Crude Truth Substack article, please, please do so.

 

Stuart Turley [00:15:30] All right. Hey, let’s take a look here. RT, here. I got a secret meeting that, was just released. Have a way of getting in with it.

 

Rey Treviño [00:15:44] The secret meeting once, all the time.

 

Stuart Turley [00:15:46] I want to create meetings. What we’re seeing is people that are out in front, making decisions, and then you have people back behind them trying to implement those decisions or spend it. Let’s take another look. For podcast listeners. Here’s a guy in a dugout, any canoe trying to undo the water. and his wife and to him. He’s all mad and he’s .

 

David Blackmon [00:16:29] He doesn’t know why, though.

 

Stuart Turley [00:16:30] I don’t get a bigger bang for him, or he’s going to hand it to.

 

Rey Treviño [00:16:34] Me to put it in.

 

Stuart Turley [00:16:38] The water back into the back. Yeah. Tell me guys. Yeah, the Biden energy policy, he never did.

 

David Blackmon [00:16:50] That’s exactly it. Yeah.

 

Stuart Turley [00:16:51] That’s a Biden thing in action. What do you think? I mean, that that’s pretty sad. Yeah. Two stories here. And, the first one is our hearts and prayers go out to all of the folks that were in impacted on this mass casualties over there in Baltimore. Yes. And we want everybody on the we’ve got 56 live on one of our channels, and we have a bunch of other live on another channel. So if you have any questions or insights on this, we sure want to know. I don’t want to address if it’s conspiracy or not conspiracy because, you know, we do share.

 

David Blackmon [00:17:31] You know, I vote conspiracy. Okay.

 

Stuart Turley [00:17:35] oh. Here’s a great question before we get here. This is from a LinkedIn.

 

Rey Treviño [00:17:41] Anticipating any more large M&A activity this year akin to Exxon and Pioneer. Maybe not. Maybe. Maybe not. I know Andrew Dittmer at embarrass. He has told us that, he does expect a pretty active year in the M&A space. But when you look at the companies, that could be the target companies, in the shale space, none are as big as pioneer. Right. And, you know, Exxon’s done its acquisition and Chevron’s done its deal that, you know, Exxon is is, gotten entangled in now. But, oxy has done a big deal recently. So the acquiring companies are also, you know, trying to absorb what they’ve already done. And, and, it’s hard to see one is quite as big as Exxon and Pioneer.

 

Stuart Turley [00:18:30] Hey, whoever, Mr. LinkedIn, person, let us know who you are. And this just ran on energy Newsbeat. And let me show this one. Phillip, 66, explores this, pipeline sale worth of a billion. I was talking to some folks that there may be more M&A activity in the midstream rather than the MP going on, and so that one article kind of hit yesterday, and that was a day after I did the other podcast interview. So yeah. This question from Mr. LinkedIn user was a great question. Let’s let’s go ahead and bring this up. And if anybody is an expert in there out there. I did not realize how much, that port or that bridge, the Baltimore Bridge, actually, it was the it’s our largest export for coal. I didn’t realize that. And if you haven’t seen it yet.

 

David Blackmon [00:19:37] Yeah, yeah.

 

Stuart Turley [00:19:38] There’s no sound to this video, but let’s rewind the video and you’re going to see the the ship start moving in here, and, and I, I didn’t understand this. And you see the lights go out. And David, you had mentioned where are the pilot tugs. Where is the pilot on the ship.

 

David Blackmon [00:19:57] And notice there’s no smoke from the smokestack during this. And now watch all the black smoke.

 

Stuart Turley [00:20:02] And it looks like it’s.

 

David Blackmon [00:20:03] Restarting the engines. He trying to get the engines because the engines had failed. The two other was no smoke coming out of the smokestack. You see the black smoke when he is restarting the diesel engines, but it’s too late and then the lights come on and then they go back off for a second. What? What’s the go back off here, I think. Right. Am I, miss? Am I wrong? Well, I saw him go off and back on. Okay, they already did that. Okay. So, you know, and again the smoke stops. That means the engines have stopped. And now he’s run into the bridge. So there wasn’t wasn’t time. Once the power came back on for him to write the captain to correct course.

 

Stuart Turley [00:20:43] And so, I whatever it is, there’s out there, folks that are saying that it was one of the best well orchestrated cyber attacks. I have no idea. But,

 

Rey Treviño [00:20:57] Laura Logan and in, General Flynn, both. Right.

 

Rey Treviño [00:21:01] General Flynn said it, too.

 

Stuart Turley [00:21:03] Yes.

 

David Blackmon [00:21:03] Yeah.

 

Stuart Turley [00:21:04] And I, I love General Flynn. General Flynn, he’s a good, cool cat. So there’s a lot of people that know a lot more than me and better looking. But, you know, I don’t know, and you sit back and kind of go, I should have had a map in here about how many are in there. So, please, any of our listeners out there, if you have any information or you want your opinions on this, let us know. This other story is really kind of concerning. And you take a look at smart meter meter surge pricing risks punishing the poorest households. And this one is really important to me from the standpoint that the disproportionately impacted communities always get it in the drive through. Just like Joe Pesci said in, Lethal Weapon. You know, you always get in the drive through, get it in the drive through. Well, they’re they’re getting it again. And in the UK from Tammy Neiman’s, the name of this report gave us this story, and it was it’s amazing to me that the energy policies that are out there are affecting the the lower income folks the hardest.

 

David Blackmon [00:22:18] Always, always. Every green energy policy hits the poor the hardest, because every green energy policy is designed to increase the cost of energy continually. And that’s a regressive tax on every household in the country. And so as a percentage of income, it always impacts the poor the hardest. Yeah. You know, I’m just telling you the truth. Well, you hear me say that? Fine. No, it’s just the truth.

 

Rey Treviño [00:22:48] That’s the truth, David. And everybody doesn’t understand that.

 

Stuart Turley [00:22:51] The crude Truth.

 

Rey Treviño [00:22:52] And the crude truth. That’s the crude truth. And nobody seems to be worried about that. Why are we holding up? And I’m gonna put China in this box, but China, India and, Africa are the new emerging, you know, continents or countries, right? Or. Well, and there’s a lot in Africa. Okay. We didn’t get to where we are today by, you know, unicorn, whatever and fairy. I don’t know. I’m not I don’t know that one. We haven’t we didn’t get to where we go.

 

Stuart Turley [00:23:26] You’re not on a rig right now RT.

 

Rey Treviño [00:23:29]  South myself. Why are we hindering other countries that are not even close to where we are today? From having the opportunity to grow into first world countries. And that’s when I feel like we’re really doing here, is we are continuing to keep people down. Okay. By continuing to throw this green initiative around the world when here in America, like you said earlier, we’re sitting our trash in other places and we are the cleanest, place in the world at Drill’s oil wells. And yet we want to suppress everybody else from having what we have today.

 

David Blackmon [00:24:09] Yeah, that’s exactly the complaint that comes from developing countries that, we in the West are trying to deny them the ability to grow their economies using the same kinds of energy that we use to do the same thing. And, no, you know, it’s it’s a valid argument.

 

Stuart Turley [00:24:26] You know. And what do you see coming around the corner here for this next week, David?

 

Rey Treviño [00:24:32] Oh, I don’t know. I wake up every morning and am surprised at the headlines. I have no idea what’s coming. I mean, I’m going to be doing some interviews and, you know, we talked to Doug Robinson today. Let me see who I have coming up here.

 

Stuart Turley [00:24:48] You got a few. You’ve got, the.

 

David Blackmon [00:24:51] Yeah, we got Chris Wright coming up with, Liberty Oilfield Services. Michelle Monaco’s the, the, CEO of Future Coal, the global, organization, that represents, the coal companies around the world. I said those are going to be both very interesting interviews, and, hopefully we’ll get them out next week. And, you know, I, we just, there’s so much demand now for stew and TV and, and in my podcast for, for folks wanting to, to get their message out. And so we try to do them as often as we can to, to help, you know, and I’m a nondiscriminatory person in terms of his message. I’ll have on. Right. You know, we’re just talking about this week and next week alone, coal, nuclear and oil and gas all on the same podcast, that we need more of all of it. And that’s what I’m trying to do.

 

Stuart Turley [00:25:48] You know, I want to give both of you shout out between all three of us on our individual podcast. We got millions upon millions of reach. It’s kind of cool.

 

David Blackmon [00:25:58] It is cool.

 

Stuart Turley [00:25:59]  And so, RT, what do you got coming around the corner?

 

Rey Treviño [00:26:03] Oh, wow. Got a lot, staying busy, of course. I’ll be releasing. I’ve got two great episodes that I’ll be, getting out to here in the next couple of weeks. One with, a Second Amendment enthusiast, Amy Robbins out of the Dallas area. I also have, Ways and Means Committee member, Congresswoman Beth Van Dine on my Sunday episode being released. So very excited about that. And then also, I’m going to be excited about getting out some of my other, great podcasts that were live on the floor. So be looking for those. That was just such a great time. I know that was a month ago now. I can’t believe it. But that was such a great time. And so really, you know, from the Crude Truth standpoint, we’re just trying to, you know, get that content out there. And like you guys said, it’s very, very nice that we have people asking to be come be on the show. And I don’t mind having anybody on the show. As I always tell people, it’s always just great to have somebody else share what their thoughts are right and what knowledge they have, and let our listeners take it for what they want. I just, released two great episodes, one, again with, George Bush and also with Doctor and Balancer. Mike, the executive director of the TCU. Ralph. Low energy. Fantastic. And, if you guys anybody out there is looking for a great place to go to, get a master’s degree or, their business, TCU here in Fort Worth, where there’s the heart of the oil and gas industry, as far as I’m concerned. You can’t go wrong.

 

Stuart Turley [00:27:29] No. Yeah. I’m. I need to give a shout out to Mitch rolling and Isaac or, they’re the energy bad boys on Substack. I love those guys. And I just interviewed them, and it’s in production now, and I’m going to extend an invitation to have them come on the, the podcast here with you two guys, because that would be an absolute hoot. Yeah. They are outstanding, guys. And, just released the Chris Wright, and doomburg episode, and then I’ve got, about 4 or 5 more. I’ve got a Irina Slav coming out. Just did Robert Bryce got Gifford Briggs Gulf Coast director with the API. Yeah. He.

 

David Blackmon [00:28:13] He’s fantastic.

 

Stuart Turley [00:28:14] I loved him. And then, JT with Tongue Associates, I got a bunch more. And then I’ve still got about four more that are still in production, so. Hey, line them up.

 

Rey Treviño [00:28:24] You know, I understand that there. So I gotta get a random question here. I understand that there are some, you know, EMP companies that focus on natural gas more than they do on oil. But do you guys really see oil? Our, you know, I read somewhere that you could see natural gas bringing down oil production. Do you all see that happening at all? Yeah.

 

David Blackmon [00:28:47] In what sense? Replacing it.

 

Rey Treviño [00:28:49] No no, no. Bringing down the production. I mean, you know, I look at. Well. And it’s like you look at West Texas, we’re drilling for oil in West Texas. Yeah, natural gas just comes. I mean, it comes with it. And that’s part of the reason why the price is so low on natural gas right now is like, hey, it’s coming out. We need to capture it and put it in and put it down. All right.

 

David Blackmon [00:29:07] Well, it may be referring to the fact that the longer you produce those wells, the higher percentage content the natural gas makes up, right? It becomes more and more of a gassy production the longer the wells are producing in West Texas. So that may be what they’re talking about. But we’ve only got 110 rigs this week, drilling for what we classify as gas wells in the United States. That’s an amazingly low number. And because of what’s happening in West Texas with all the associated gas, we continue to raise overall national production of natural gas. It’s just a phenomenal situation.

 

Rey Treviño [00:29:46] It is.

 

Stuart Turley [00:29:47] And you know, what’s fun is the the growth that is going on. Your your comment is absolutely wonderful RT. And that is with the growth of low energy does come wealth ending of poverty. You get great things like bitcoin mining off of, stranded gas. You get, new factories moving into Texas. You get a lot of ancillary things going along with low cost energy. And in fact, we Michael and I just talked about Germany being the six man in the room because their energy policies have caused a deindustrialization of Germany.

 

David Blackmon [00:30:29] And the same thing is happening in the UK too.

 

Stuart Turley [00:30:32] And New York and California. So the poster children are now the sick men in the room. So, you know, it’s kind of like, where is everything going? So I’ll tell you what. We’ve had, 74 just on one YouTube channel here. And, it’s pretty exciting to have that many folks live, with the millions and millions of people that are piling on our podcasts for David. Last word.

 

David Blackmon [00:31:00] Adios

 

Stuart Turley [00:31:04] Our last word.

 

Rey Treviño [00:31:06] Thank you. Yeah.

 

David Blackmon [00:31:08] You said.

 

Rey Treviño [00:31:09] Yeah.

 

Stuart Turley [00:31:10] For the three podcasters and John Wayne over my shoulder. Have a great day, guys. We’ll see you guys next week.

 

Rey Treviño [00:31:17] Thank you everyone.