Daily Standup Top Stories
Secretary Chris Wright has a plan for Rare Earth and Critical Minerals – What is the timeline?
In an outstanding interview with Larry Kudlow on Fox Business, Secretary Chris Wright covers some key points on the upcoming China meetings with President Trump and President Xi. • The U.S. Energy Secretary, Chris Wright, […]
AI-Fueled Rally Shows Weakness as Power Stocks Stumble and Investors Have Questions
The blistering rally in power stocks, ignited by the insatiable energy appetites of AI data centers, appeared unstoppable earlier this year. Utilities and independent power producers surged as Wall Street bet big on a structural […]
Greenpeace and the Net Zero Followers are Wrong – The World is Bifurcating into New Trading Blocs
In a pointed op-ed published today in The Telegraph, energy analyst and former Shell executive Nick Butler delivers a sobering rebuke to the uncompromising zeal of environmental groups like Greenpeace. Titled “Greenpeace is wrong – […]
Now that the Alaska ANWR is Open for Lease Sales, Who Will Develop?
In a move that reignites one of the most contentious debates in American energy policy, the Trump administration has flung open the doors to oil and gas leasing in Alaska’s Arctic National Wildlife Refuge (ANWR). […]
New Oil Sanctions Will Not Stop Russia’s War Machine
As the Ukraine conflict grinds into its fourth year, Western powers are once again turning to the familiar playbook of economic sanctions. This week, the United States slapped sweeping restrictions on Russia’s two largest oil […]
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Michael Tanner: [00:00:00] Chris Wright targeting two years for critical and rare earth mineral development. Can he do it? We’ll find out next on the Energy News Beat Stand Up. [00:00:08][8.4]
Stuart Turley: [00:00:16] Secretary Chris Wright has a plan for Rare Earth and Critical Minerals, but what’s the timeline? This is critical. In an outstanding interview with Larry Kudlow on Fox Business, Secretary Chris Wright covered some of the key points in the upcoming China meetings with President Trump and President Xi. The Energy Secretary, Chris Wright, discussed the government’s efforts to develop and produce rare earth minerals, or what we call critical minerals, because they’re not really rare, for various industries. China has said. Strategically dominated the rare earth industry and here’s where we’re working to break this secretary Scott Bessent just said that China is delaying their enforcement of the rare earth and critical minerals which is huge win for the Trump administration but let’s go through some of this and some of the key points Michael are we are two to three years away Secretary Chris Wright said 24 months he’d like to get it done in 12 But he says, 12, I did not know that we were already processing in California. I didn’t think we’d processed anything other than illegal driver licenses. [00:01:25][68.6]
Michael Tanner: [00:01:27] Illegal CDL. [00:01:27][0.0]
Stuart Turley: [00:01:27] Oh my goodness, this is a cool story. [00:01:30][2.5]
Michael Tanner: [00:01:31] No, this, this really isn’t, I think this administration led by Chris Wright and Lee Zeldin at the EPA have got a real good handle on this. And I think, you know, no pun intended from the article. This is a critical article on critical minerals relative to the fact that if, if the goal is to diversify the energy mix, and I think that’s a good way to talk about how we’re going to have to move forward. I mean, I was just at a conference last week down in Houston on the minerals and And, you know. My job was to sit there and listen to all the speakers. You hear a lot of the same stuff over and over, but that’s also an interesting note. When you hear the same thing over and over, you have to take note of that. And one of the, every single panel has talked about data centers. And you know, I know that’s an overused term in our business. Oh, we’re going to have this huge energy boom from data centers, but it’s true. And so the question is, we either going to have to go through a rapid expansion of our energy infrastructure on the fossil fuel side. We’re going have to build new pipelines. We’re gonna have to drill new gas wells. And To be honest, a lot of that’s not going to happen while these data centers begin to build out. So how are we going to do that? We have to diversify the energy mix, stuff you’ve been talking about, the small modular nuclear reactor front, the stuff that Secretary Wright is doing on putting clean coal back into the mix, and diversifying the energy mixed is critical. And specifically, if we’re going to want to do solar plus storage on some of these data centers to bring down energy costs, because again, that’s really the goal of the administration, is to bring energy costs. I think if they, if you could show them a way to bring down energy costs that they could start doing tomorrow, they would just do it. They wouldn’t really care what the sources and the problem as we’ve and you have really dug into on wind is it doesn’t actually lower your energy costs. It just low. It may look like it’s lowering your energy cost because of the tax subsidies and maybe the subsidized electrical out dollars that come out of it. But in the long run, it’s actually way worse than a lot of your other stuff. So diversifying the energy mix is key. Getting access to these critical minerals are key. And this has been a topic that we’ve talked about for weeks now, and I’m really glad to see the administration kind of diving into it. [00:03:36][125.7]
Stuart Turley: [00:03:36] Oh, you bet. We’ll have more on that later in the week as more announcements come out as president Trump rolls through. Hey, tomorrow on the same topic, I get to speak with live on our, on our YouTube channel and my ex channel with Doomburg. This is pretty cool. That’ll be fun. We love Doomburd. We love doomburg on this topic. All right. Let’s go to the next story. Michael AI. Fueled rally shows weakness as power stocks stumble and investors have questions. We are really Michael at Energy Newsbeat at the intersection of finance and energy and I think this is a wonderful article. Year to date, through October 24th, the Morningstar Utilities index has climbed a respectable 21.86% outpacing the broader market’s 15.8% again. The S&P 500 utilities sector index is even stronger. And I’ve got a list in here of the companies and how their percentage of rate of returns are, their 30-day rate and their year-on-year rate. And Michael, it’s kind of important to take a look on here. We’ve got NRG, we got Constellation, Vistra Consolidated Edison XL. Exlon, American Energy, and you start taking a look at this, what is going on with energy companies and the price of electricity is going through the roof. I mean, we’ve had a 230% on the East coast going in because of data centers and AI. And if we’re going to see a market split in the data centers coming behind the meters in states that will provide for that with like, with natural gas and all that stuff, so the consumers don’t get hit and they can where the data centers are in front out there where the the government data centers went in back east, you’re gonna see 230% increases in the people’s power. Pretty important. [00:05:36][119.2]
Michael Tanner: [00:05:36] No, I think it’s extremely important. And I think what you’re seeing is that these power companies are beginning to position themselves to be the real end winner of this AI energy data center. Boom. And that’s smart. I mean, it all comes back to energy and that’s, I think one of the, again, going back to this administration, not to continue to praise them, but they understand that, that if we are going to continue to progress down this AI AI stratosphere, and if AI is, no pun intended, going nuclear, we’re going to have to figure out a way to provide low cost energy to these data centers, or else AI is going to become too expensive for the average person, and it’s really just going to be an enterprise product, and all of the gains from AI are going to wrapped up in the Mag-7. Well, that’s not good, because that doesn’t necessarily, it does trickle down. We could have a complete argument about the Ronald Reagan trickle down economics and the somewhat flaws in that argument. I tend to overall agree with the concept, but to think that everything just trickles down from the top. It doesn’t really work like that, especially when a lot of these gains are mainly being reflected in stock prices and over 50% of the country is not invested in the stock market. So there’s a whole segment that’s missing out on this. So I think if focusing on the energy, and I think what you showed here, as I say, 50% percent of the county isn’t invested in stock market, looking at a chart here that shows the 30-day return profile of all these energy companies and they’re all up. So I think from that standpoint, if you are invested in the markets, you should be looking at these companies because this is where a lot of those gains are going to go. They’re going to the top five Mag-7 companies because they’re the ones that are going to be controlling the overall ad. But then that next layer deep is definitely going to be the energy companies. I think you’ve got a great list here and I completely agree that these premium valuations that companies are getting are critical. [00:07:33][116.6]
Stuart Turley: [00:07:33] And I’m going to be doing some more deep dives on investors and why the earnings has become through Q3 earnings coming out and start really stripping each of those out individually in different articles. Hey, let’s go to the next story here. Greenpeace and the net zero followers are wrong. The world is barfricating into new trading blocks. This comes on president Trump’s China’s trip. And I’ll tell you, Ed Miliband is the poster child of failed energy policies. And I didn’t notice that the New York Times, Michael put out an article that the UK may not survive their horrible energy policies while seeing that article was kind of like, holy smokes. In an appointed op ed published in the telegraph, energy analyst, former shell executive Nick Butler delivers a sobering rebuke to the uncompromising zeal of environmental groups like Greenpeace. Titled, Green Peace is Wrong, We Can’t Have Net Zero at Any Price. The piece praises UK Energy Secretary Ed Miliband’s dedication to decarbonization but wants to warns that a blind pursuit of net zero targets is fueling skyrocketing energy costs and economic pain for ordinary citizens. Well, I went through this article and as I say, what we are seeing is bifurcation in the global Markets for fixing trade. Balances and you are going to see Russia, the US, India, any of the countries that are not following net zero because the war in Russia and Ukraine is going to end once the UK gets off their high warhorse and they fall to the ground and crash. You’re going to see the war end because they’re the ones keeping this up. So when you see the whole new bifurcation, you’re going see if you’re a net zero energy policy, you’re going to be industrializing and going to China. All your supply lines are going to go to China, China is going to pivot from the US and in a few years you will probably see the US not the biggest customer for China if this all plays out. Then you will see all of the other countries trading with the US, and more trade going South America. I think we’re off on the races here. [00:10:05][151.7]
Michael Tanner: [00:10:05] No, I completely agree here. I mean, you know, the fact that people are still in on green peace shocks me considering the guy who founded green peace basically said green peace is a scam and it’s taken hold in these countries. Like you said, the UK of the EU has continued to put themselves. I love this title of, of one of the sections of Europe’s green straight jacket from vision to victimhood. And I think it’s, it’s absolutely hilarious. And then kind of, as you say, tying that in. That’s sort of making its way to California, which is hilarious considering that, you know, if anybody should be for low cost energy, it should be California, aka the gold, which is our, our favorite state by the way, and our favorite governor Gavin Newsom is [00:10:47][42.0]
Stuart Turley: [00:10:48] We love New York, New Jersey, Delaware, and all the Democrat-run states with high taxes because we get so many inquiries on investing in oil and gas and tax cuts, Michael. I love those states. [00:11:01][13.4]
Michael Tanner: [00:11:01] Yep. Jack, your tax is up. California, we need it. [00:11:04][2.9]
Stuart Turley: [00:11:04] Yeah, and we’ll show you how to not pay your fair share. [00:11:08][3.5]
Michael Tanner: [00:11:08] Absolutely. All right, let’s talk about Anwar. [00:11:10][1.3]
Stuart Turley: [00:11:10] Let’s go to the next one. Now that Alaska and Anwar is open for lease sales, who will develop? Michael, the world needs trillions of dollars of investment just to meet normal decline curves. That being said, we are now watching an area in a move that reignites one of the most contiguous debates in American energy policy. The Trump administration flung open the doors to oil and leasing in the Arctic National Wildlife Refuge, ANWR, and the U.S. Interior Secretary Doug Burgum announced the completion of a plan to make the Refuge 1.5-acre million coastal plain available for exploration and development. Who’s going to step up and pony up in this day and age right now at $50 oil? Not many. ConocoPhillips is in there with Deep North Slope Roots and recent wins like the $8 billion Willow project might I and more I doubt they’re going to be coughing up because you look at their financial statements. They don’t have it in their budget. That’s what we’re going be watching. So Michael, the key point out of this is watch who the leases are. I’m going to getting a hold of Chris over at Energy Net and really kind of taking to look at how those leases are being sold. Who’s buying them, who’s paying them out and who do we invest in as we evaluate this? Alaskans want oil and gas drilled. They love it. And that’s jobs, jobs out the wazoo up there. [00:12:44][93.5]
Michael Tanner: [00:12:44] Yeah. I think you, and in this article, I think brings up two specific companies that would be interested in possibly doing something. Obviously the first one is, is ConocoPhillips kind of tacking onto their $8 billion Willow project that actually got approved under the Biden administration. So remember this, this is… This is not just a Republican talking point. This was approved under the Biden administration. There are some synergies there. I think, you know, you, you also mentioned this article Hill Corp, which had been very, very active in the North slope for many years, but did, you know, famously in 20, you 2012, basically exit now, if there are some tax credits and infrastructure tie-ins and infrastructure plays available to possibly bring them back, they really could, you know, I, I don’t believe. You know, you’re going to see like big companies like Exxon and BP or Chevron decide to take a dive into here. I just think there’s too many other strategic initiatives specifically with Exxons and Chevron now controlling Guyana. BP has really shown no, they’ve really shown, no initiatives to want to be able to do this. I don’t think BPX is really interested in doing something similar to this. So I think it’s going to be interesting to see who comes in and takes these leases as a small oil company who decides maybe they want to get into the gold rush here. You know, I think the hard part is going to be the capital needed to spend to do this. And I love your, again, one of your titles here, Stickershock, the capital expenditures of the frozen North. You know it’s going to continue to be expensive and you have to talk about the roads, the infrastructure that you have build, the heated pipelines, a bunch of spill-proof tech that needs to continue be in there and that is way above and beyond. What is kind of normal conventional U.S. Shale costs, you know, even at seven billion barrels of estimated recoverable reserves that could cost between 10 and 20, blah, blah billion dollars. I’m in a fracampo for a single large scale project. And you know that’s if you trust Yale and I think Yale is probably coming in a little bit low relative to that. I think operating our expenses are also fairly intense. And to give you guys an idea. Global upstream capex was 85 billion in 2020 and I don’t you’re talking about 20 billion just in one project. I think it’s going to be very difficult but I think I agree with you following who’s going to get in on this is going to key to lowering energy costs. [00:15:04][140.0]
Stuart Turley: [00:15:05] Exactly. And I’m going to read this one paragraph here. Drill baby drill sounds good until you have to pay the bills and $60 oil is the old $40 oil due to inflation by everything else that’s going on. As Stu Turley and Michael Tanner have talked about on the Energy Newsbeat podcast, Oh, that’s us. And their, their deal evaluations, it’s about the returns to investors and being fiscally responsible. Like a puppy with a rolled up newspaper. If you beat the puppy too much, you lose the puppy’s affection. And I I’m serious. The, the oil companies have been beat with a newspaper, a big newspaper, and they are not being fiscally irresponsible anymore. And it’s almost a detriment. Now let’s go to my last story here. New sanctions will not stop the war machine. You know, president Trump, I do, I love president Trump. I think he’s our greatest president. We’ve ever had the amount of things he has overcome, but his listening to the warmonger is dead wrong. And as the Ukraine conflict winds into its fourth year, Western powers are again turning to the familiar playbook of economic sanctions this week. The United States slapped sweeping restrictions on Russia’s two largest oil producers, Rosenfit and Luke Oil, while the European Union rolled out its 19th section sanctioning package over 100 shadow fleet tankers in banning Russian liquid and natural gas LNG imports by 2026. By 2027, they’re supposed to be all out except for the landlocked countries of Poland, I believe, and not Poland, but Hungary and a couple others over there. But Michael, the dark fleet is about 1,600. And 80 different tankers that are out there. 750 are owned by Russia, Iraq, Iran, Venezuela. They all are in this mix in there and hitting that is like trying to hit a whack-a-mole. It is a very well orchestrated movement and sanctions don’t work as intended. This is just a huge mistake. Now this brings up another article that I did last week. What is the real reason for Venezuela? Cause we don’t have sanctions going on really there. They’ve got a huge reserve, but everybody thinks that the war going on in Venezuela is simply because of the narco terrorists. No, it’s because the Monroe doctrine has not been enforced for the last 30, 40 years, and this is about China’s encroachment into South America. Buckle up. We got some more things coming around the corner on that one. [00:17:47][162.2]
Michael Tanner: [00:17:47] Yeah, I mean, this article just leads me more to a question of like, why do this? Like, I think the data is really clear that these sanctions haven’t worked. And if, I mean, selfishly from an oil and gas standpoint, like $55 oil was not pretty. I mean it’s nice to see $61 oil relative. It’s nice just to see oil above 60. So these, these sanctions have helped it, but what’s, what do you think? The rationale is who’s in his ear? Like this, it just doesn’t make any sense. [00:18:14][26.5]
Stuart Turley: [00:18:14] No, you’ve got the folks that have been in his ear are pro-war and it is the entire pro- war. The EU will is on a current track to fail because the Bank of London and the EU need a war to continue their financing. What President Trump needs to understand is the war and he’s doing He’s just signed another peace deal, I believe, between Malaysia and another one that’s going to be on the news here pretty soon. He’s working peace. We will see an end to the Russian-Ukraine war very soon. And I think that we are closer to a solution without the EU’s input. [00:18:59][44.4]
Michael Tanner: [00:19:00] Very very interesting, but I know I think this is a a super interesting article just because this plays into I think what we’re going to talk about on the other side here when it comes to what happened to oil prices, but first let’s pay the bills. [00:19:13][12.9]
[00:19:13] As always guys, the news and analysis you just heard. Is brought to you by world’s greatest website, www.energynewsbeat.com. Stu and the team do a tremendous job making sure that website stays up to speed. Everything you need to know to be the tip of the spear when it comes to the energy and the oil and gas business. Go ahead and hit the links in the description below for all links to the timestamps, links to articles, and specifically subscribe to the show on YouTube,subscribe to this show on Apple iTunes. Give us a follow there. Subscribe to our show on Spotify. Please leave comments there and subscribe to our sub stack, www.energynewsbeat.substack.com. That’s probably the best place to support the show. Stu does a great job of releasing two to three articles a week that really encompass the big themes that are going on. We also drop all of our podcasts there, which give a little bit of a breakdown. We just had a great, great podcast. So I highly, highly recommend everybody subscribe to the energy newsbeat.sub stack.com We’d also like to thank friends of the show Reese Energy Consulting for supporting the show guys. Reese Energy Consulting is the foremost midstream expert. Guys, if you had at all. Are dealing with issues in the midstream space, whether you’re an upstream company and need help with your first purchaser’s contract or renegotiating your gas contracts or figuring out where you’re gonna tie in your next pad because you’ve got multiple different options and you’re trying to break it all down. Reese Energy Consulting can help. If you’re in the mainstream space, I need an extra pair of hands, need some permitting or regulation help, or need some red team analysis on a final investment decision, guys. They have the team that can help you check out ReeseEnergyConsulting.com They have clients everywhere and all throughout the country from two people in a garage all the way up to the largest publicly traded companies in the world. So if you’re wondering, are you a good fit for them? The answer is yes. ReeseEnergyConsulting.com And finally guys, investinoil.energynewsbeat.com We are coming up on the end of the year. And I promise you guys, you do not wanna be paying money to Uncle Sam. You wanna keep as much money in your pocket. You wanna diversify your portfolio a little bit and you want to get some dividends. You can do that by investing in oil and gas. Check out investinoil.energynewsbeat.com Fill out our portfolio survey and our tax calculator. And guess what, you guys, you guys are gonna get and get a nice ebook that tells you here’s what you should look for when you invest in oil and gas. And also figure out what your tax burden is and figure out how much you might save relative to your tax burn if you did invest in Oil and Gas, guys. We practice what we preach here, guys, we do this stuff ourselves. Investin oil.energy newsbeat .com Don’t give your money to Uncle Sam. Figure out and find out if oil and gas investing is for you. Depending on if you qualify, we will, again, send you all that information and we may or may not point you in the right direction. Again, investin oil.energynewsbeat.com. [00:21:54][161.0]
Michael Tanner: [00:21:54] I mean in a real Complete reversal stew from where we’ve sort of seen oil pricing end up You know, we saw on Wednesday of last week those as we just talked about those new sanctions that came out from the Trump Administration on Russia’s two largest oil companies and and and now all of a sudden we were ending up in this Interesting scenario where we’ve saw the first week over week rise in oil prices over the last couple weeks oil settled at 6150 is sets to open here in a bit as we record this on Sunday afternoon. It’s somewhere around that range I wouldn’t be surprised to see if things go slightly higher from this natural gas settled at at three dollars and and $3.30 and looks to open probably slightly higher relative to where things are at. And we also did see the S&P 500 and NASDAQ kind of make a complete comeback from those tariffs to be pushing all-time highs from a portfolio standpoint. You know, I think it’s, it’s really interesting to see what happens. Treasury secretary, Scott Besson said on Wednesday, here’s his quote, given president Putin’s refusal to end this senseless war, treasury of sanctioning Russia’s two largest oil companies that fund the Kremlin war. Machine. Scott, that’s again, treasury secretary Scott. I’m Soros Besant. Oh, did I slip that in there? I’m sorry. We also did see US crude oil, gasoline and distillate inventories fell last week. That was according to the EIA crude stock spell by 961,000 barrels out of about 422.8 million barrels. And that was really compared with an analyst expectation about a 1.2 million barrel rise. We love our friend Phil Flynn over there at Price Futures Group. We’ve got total oil demand above. 20 million BPA, very impressive for shoulder season. It shows the demand side of the equation of oil is robust, which I think is what people are working out. We also did see President Trump at the beginning of the week. Said he expected to work out a fair trade deal with Chinese President Xi Jinping, who is due to meet this week in South Korea. We also said, we also did that some of that summit between Trump and Putin has been put on hold as there’s been some… Upscaling of this war in Ukraine, which is, I mean, it’s getting scary out there. I’m going to start stocking up on my MREs. You know,. [00:24:12][137.6]
[00:24:12] We did see rig counts jump by two, f. [00:24:14][2.0]
[00:24:14] Rac count spread jumped by three. So, you know, obviously, you know, that’s not a direct correlation with what we saw happen on Wednesday. But I think people are oddly drilling maybe more than I think the street would like them to. Relative to, I think, where we’re at. [00:24:30][15.7]
[00:24:30] And I think this is the interesting part, Stu. Earning seasons begin to roll out. We’re going to start reading some tea leaves from that. A company that I think gets a lot of coverage, whether it’s good or bad, I’ll let you, the viewer, decide. Is a local DFW-based company matter to our resources? It doesn’t matter where You. Where you fall on this train in terms of, okay, are we, do we continue to drill through the cycle or do we wait and, you know, save our, save your locations for higher oil price environments? And I think what you’re, what, what you see from companies and what, you or what you see from, from, I think. The street and the people that cover it is, hey, we need to make sure that we don’t drill our best inventory at the lowest prices and lose out on an increment of dollars when we might be able to save that inventory and drill through and save it and drill through better prices in the future. Now the flip side of that is, okay, well, what are we supposed to do? Because our best locations are the only locations that make money at these prices. So what do we do? We don’t do anything. We can’t, we go drill our worst locations at the worst pricing. I mean, I. Doesn’t necessarily work. I think there’s this two competing things, but if you want to know how the street values drilling and promoting production growth in this price environment, Matador Resources Earnings was the perfect, perfect. Example. They announced on Thursday, they announced their third quarter financials, and they were, quote, pleased to report record production of 209,000 barrels of oil, you know, of BOE per day for that quarter, which exceeded their midpoint guidance of about 199,700 BOE per day by about 5%, which is a 22% increase. Year-over-year gain in production in the third quarter of 2024. Oil production made up about 119,556 barrels for the third-quarter, which exceeded the midpoint guidance by 2 percent and was a 19 percent increase year- over-year. They also had record natural gas production. They spent about, I’m trying to see what their capital expenditures were. Their full year 2025 DNC costs will be at $1.18 to $1,370,000,000 and they’re raising that from their original guidance, mainly due to the drilling and completion of an additional 20 net operated locations, which was which what they’re saying is made possible by operational efficiencies and historical opportunities to experience lower service pricing during the second half of the production year. They tout their continued high capital-efficient program with flexible due-adjust production on CAPEX. But as you know… Matador, they love touting about how much they, I mean, their first five lines in their operational update was how they’re increasing production. And so you would think with such great news, the street would love it. Well, no, their stock dropped 10% on the day they announced this. I’m not kidding you. Their stock dropped 10%! Wow. After they announced 22%… Year over year production grows. So Stu, I ask you, the wise one on this podcast, does that mean the street values production increase right now? And so what does it value being smart, not efficient, efficient and smarter, two different words. I can be efficient at really doing the bat at doing doing the wrong thing, but I’m efficient at it. Oh, five hundred miles in the wrong direction. But I stayed on the highway the whole time and it was really efficient driving. Well, right. Miles away from where you need to go! [00:28:10][219.7]
Stuart Turley: [00:28:10] Or I got a CDL and I can’t read until they, until they pull me over and then they hand me a kindergarten book. So, you know, I, I stayed on it for 10 years. They actually had a, a illegal that was on a truck driver for 10 years and could not read. [00:28:26][15.5]
Michael Tanner: [00:28:26] And, you know, this, this goes along the point of, you know, Matt and we’re having five different CFOs over five years. It’s, it’s, you know, how many, how many are phrase good management, good numbers. Well, I mean, we don’t even know who management is outside of their, you know? Well, we know who their CEO is. He’s the long time, you know, yeah, long time chairman and CEO. So we kind of probably have an idea of why there’s five CFO’s. I can probably, you know, I didn’t take a genius to figure that out. I’ll let the brilliant audience kind of put two and two together. So, you know, I wanted to just call out this earnings because this is how the street is valuing production growth at this time. And it’s gonna be very interesting to see how companies navigate this lower oil price. I mean, obviously you still have to drill, but you have to be smart about it. You have to not only just be efficient, but you to be be smart it. So I think it’s really fascinating. But yeah, Matador, record oil production, stock drops 10%. Who would have thought? Favorite time of the week, Stu? What got you worked up this week? What are you worried about? [00:29:23][56.7]
Stuart Turley: [00:29:24] Oh, I’m not worried about it. I think the world is going to heal. I think we are on the right track. I see that from contacts that I talked to around the world, a thing people are waking up and I see some great things happening around the corner. [00:29:38][14.7]
Michael Tanner: [00:29:39] Good, good, good. Well, that’s always great to see. Uh, we’ve got some great podcasts coming up. Um, the day you listen to this, we will be recording a podcast with Doomberg. That we always love Doomberg. So we’ll make sure to get the clips out and have that turned around. Hopefully by Thursday or it’s live, right? It’s live. [00:29:54][15.2]
Stuart Turley: [00:29:54] It is live, we’ll have it out on Substack tomorrow. [00:29:57][2.7]
Michael Tanner: [00:29:57] Great. It’ll be out on Substack on Tuesday, which is great, guys. But as always, we appreciate you starting your week with Energy News Beat. Subscribe to our Substack. Subscribe to YouTube. Thanks, everybody, for following us for Stuart Turley. I’m Michael Tanner. We’ll see you next time, guys! [00:29:57][0.0][1776.5]
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