Daily Standup Top Stories
Citi Says Russia-Ukraine De-escalation Could Impact Oil to $50, and Oil’s Surplus Is Here—But What’s the Real Story?
In the volatile world of energy markets, headlines from major financial institutions like Citigroup often grab attention. Recently, Citi analysts suggested that a potential de-escalation in the Russia-Ukraine conflict could drive oil prices down toward […]
Wind Turbines are Made by Coal and Are Not Sustainable
They are fiscally incapable of sustaining themselves from day one and face catastrophic failures at 3 to 8 years.
How Trump’s Impact on the Global “Green New Scam Tax” by the UN Translates to Consumers Being Saved
In a world where unelected bureaucrats at the United Nations push for sweeping environmental regulations that often amount to little more than wealth redistribution schemes, President Donald Trump’s no-nonsense approach has once again delivered a […]
Europe is the Biggest Loser in US-China Rare Earth Wars
In the escalating geopolitical tussle between the United States and China over rare earth elements (REEs)—critical minerals essential for everything from smartphones and electric vehicles (EVs) to fighter jets and renewable energy technologies—Europe finds itself […]
US Oil Rig Count Stalling While Output Soars
In the dynamic world of energy production, the United States continues to defy expectations. Despite a stagnant rig count, U.S. crude oil output has reached unprecedented heights, showcasing remarkable efficiency gains and technological advancements in […]
SLB Reports Q3 Earnings Higher Than Expected
SLB (NYSE: SLB), the global leader in oilfield services, reported third-quarter 2025 earnings that surpassed analyst expectations, driven by resilient international performance, growth in its Digital segment, and contributions from the recently acquired ChampionX business. […]
Highlights of the Podcast
00:00 – Intro
00:16 – Citi Says Russia-Ukraine De-escalation Could Impact Oil to $50, and Oil’s Surplus Is Here—But What’s the Real Story?
07:51 – Wind Turbines are Made by Coal and Are Not Sustainable
12:22 – How Trump’s Impact on the Global “Green New Scam Tax” by the UN Translates to Consumers Being Saved
15:26 – Europe is the Biggest Loser in US-China Rare Earth Wars
21:49 – Market Update
22:57 – US Oil Rig Count Stalling While Output Soars
23:52 – SLB Reports Q3 Earnings Higher Than Expected
27:47 – Outro
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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] Banks keep predicting fifty dollar oil off de-escalation from the war in Ukraine. Do we believe them? We’ll find out. Next, the Energy News Beat stand-up. [00:00:07][7.8]
Stuart Turley: [00:00:16] Citi says Russia Ukraine de escalation could impact oil to $50 and oil surpluses here. But what’s the real story? I had a lot of fun writing this one. In the volatile world of the energy market, headlines from the major financial institutions like Citigroup often grab attention. Recently, Citi suggested that a potential de escalation in the Russia Ukraine could conflict, drive oil prices down to $50 a barrel, accelerating an already emerging supply surplus. Michael, there’s a lot of oil that’s out on the ocean right now, and everybody’s saying there’s a glut. I got a few questions for you as we go through this, but let’s take a look at this. I put in here, let’s throw Saudi Arabia in the mix since they’re the head of the OPEC and OPEC Plus. How much do you think they need in order to meet Saudi Aramco’s contributions that are required in order to pay for their fair share at the Saudi government? [00:01:18][61.8]
Michael Tanner: [00:01:18] The dividend is huge. I don’t know the exact dividend number, but it’s going to be absolutely insane. It’s one of the reasons why they want to jack up production. Again, this is why not to tell you, this is why I’ve always been out on the OPEC wants its market share back. No, no, no. OPEC doesn’t want its market share. OPEC, aka Saudi Arabia, needs to pay the Saudi government more and more money each year, and they have to do that by raising oil production. [00:01:42][23.8]
Stuart Turley: [00:01:43] Exactly. Now let’s take a look at if if sanctions are deep post de-escalation, price normalization versus flood, lifting the price cap could allow Russia to capture full market value, reducing the shadow fleet risks and stabilizing flows. All this is going to do, Michael, is put more money in Putin’s pocket because he’s not having to play the old shuffle game with the shadow fleet. He’s going to be making more money, but he’s actually gonna wanna raise prices, and prices are going to go up. They are maxed out. Let me make this perfectly clear. Oil is not going to flood the market from Russia. He is maxed out. The only way President Trump is gonna end the war is to get Putin to the table so that he can do business with United States oil companies. They need help. They are maxed out. I can’t stress this out enough. It’s not gonna flood the market. You have Saudi Arabia that wants the market to go higher. How much is on the oil is on the water as is out there, and there we’ve got I’ve got some of the numbers in there. We’re gonna see $50 oil for a little bit. It’s gonna be a bump. It’s all in the demand. If we get through the Russian war, we will see re-energizing of business coming back online. And you’re gonna have India picking up the slack where China is failing. And as long I’ve said this before, as long as China’s buying the oil, I mean India and China are buying the oil, we’re gonna see strong demand. [00:03:21][98.1]
Michael Tanner: [00:03:21] Yeah, and see, so I’m gonna I’m gonna take the other the other side of this. But first, you’ve got the numbers of what Saudi Arabia owes the government each year. So let’s let’s break this down here. Okay. So right now the Saudi deficit, their deficit to GDP is about 2.3, which who would have thought I would have would have thought Saudi had a balanced budget considering all the oil. But there’s a couple things they have to do. They have royalties in terms of obligations to the crown. That’s one budget light item for Saudi Aramco. They have income taxes that obviously go straight to the government. And then they have dividends. And remember, the government owns indirectly, not direct, not indirectly, but about 81.5% directly, plus they have some indirect stakes via their public investment funds. And these three line items cover about 70 to 80% of the budget. And for 2025, the total just dividends are 85.4 billion, which is actually down from 124 billion in 2024 due to lower profits, as it’s sort of a shift away from what they’re kind of calling these performance link payouts. The government receives about 82% of this royalties and taxes based on, you know, basically the first half of 2025, royalties were about 19.1 billion, and the income taxes are about 25.7 billion. And so basically, if you kind of extrapolate that out for the full year, you’re sitting anywhere between 80 and 107 billion dollars just from those two things. So those total likely payments, you group them all together. It’s about 150 to 180 billion for 2025 prices to quote unquote meet current obligations for a balanced budget. And so what you’re gonna need to do is write an additional 30 to 60 billion that, you know, if you do some back of the napkin math, it requires oil to be about 96 to break even. I I hate, I will say this. I dislike strongly the whoa, Saudi government break-even prices have to be this. So Saudi wants oil prices. No, they don’t. They actually don’t want oil prices to be that high because what that tank supply and they have a balance. It’s we you learn about this in econ 201. You know, you gotta get past 101 first. But econ 201, you learn this thing called the laffer curve. And it was invented at the time of Ronald Reagan. And what were they talking about? Well, they were talking about it’s this concept of the left or Democrats think we need a small number of very rich people paying the taxes. Or you have a larger or the other side of the equation is a large tax base paying a little bit about. And it’s a multiplication problem. There’s a thing called the laffer curve that says to a certain point the left is correct, then at a certain point the right is correct, and there’s an inflection point where you hit it. It’s one of the reasons why we have. In this you state, sort of a progressive style tax regime, because there is a point at which, yes, we need high income folks paying taxes, and most, you know, the top 50% pays 100% of the taxes. So we have a massive progressive tax. But to get back to this here, I’ve I’ve always hated that. I’m gonna take the other side of this. So, Stu, on my solo show last week where you were around gallivanting with our good friends at Reese Energy Consulting. Shout out the you got you’re you’re wearing the swag. I like it. Great podcast you did there. I’m excited for that to come out. But we ran two stories. One of them was a CEO of Conical Phillips saying oil’s gonna be 70. And then you had Vicky Holeb on the other shoulder saying, Well, no, oil’s gonna be 50. I this is groundbreaking for the show. I’m going to agree with Vicky Holob on this one. I’ve never done that before, but I’m gonna go out on a limb and agree with her. I think oil is more likely to be 50 than 70. I think one of the big reasons why Trump wants to end this war in Ukraine quickly, because if you balance that on a geopolitical level with what he’s done in Israel with his then secondary goal of lowering energy costs, he’s been very clear. He wants oils in the 50s, he wants gasoline below two dollars. The best way to do that is to end the war, remove the sanctions, and now you will see oil prices go 250. And I think they’re going to be 50 a lot longer than you think. I think 2026 is going to be a painful, painful year for shale oil and gas companies because I don’t think we’re going to see anything above $65 oil. We’re probably gonna 60 might even be the lake. I’m I I think people need to set him for a low oil price. Yes, surpluses aren’t as big as people think. The problem is we’re going the the demand is going to only continue to grow. We know it’s gonna continue at the constant pace that it does. Both the IEA and the EIA have said that we’ve also seen forecasts like we talked about from Citibank and JP Morgan. So I I I think it’s a I’m a little more bearish than you on this one. And we did cover our JP Morgan equities price forecast, which says it was about fifty five dollar oil. So I tend to fall in line there with that case. [00:07:44][262.4]
Stuart Turley: [00:07:44] Well, we’re gonna have another quarterly show come up here and we’ll put our numbers and put our wallet where our our mouth is. Let’s go to the next story, Michael. Wind turbines are made by coal and are not sustainable. They’re fiscally incapable of sustaining themselves from day one and face catastrophic failures in three to eight years. Michael, I had an absolute blast writing this one on the energy newsbeat.substack.com. It is a fun story. The global push for green energy wind turbines are often inhaled as a symbol of sustainability. However, a closer look at their life cycle reveals a troubling irony. Michael, they start out in Australia. Australia exports its coal to China. China sits there and they buy it for pennies on the dollar. They hit a record 59.9 million tons in January through August of 2024. They’re already at 45.1 million tons. You take a look at all of that, then it goes to China doesn’t pay much for it because it uses it, but it uses it hugely. And then you take coal burns coal to make things, and then what they one of the things is wind turbines and solar panels and everything else. And then you take a look at number five. We buy those expensive and reliable turbines from China at a high cost. And you take a look at a two to three megawatt onshore wind turbine costs about 1.3 million to two million per megawatt, meaning a single unit can run 2.6 million to $6 million, including installation. What is not mentioned is how much oil and diesel and steel and coal is used in order to get those things on the pads. And then Michael, what is not talked about again is those things take about a hundred gallons of oil that have to be changed all the time. They fail within three years. And now that I’m driving between homes and I see this on a regular basis, the wind farms in Texas, Michael, when you drive by a wind farm, you can tell their blades have been. Freshly put out by when they’re not turned or turned, you always see them arcing. Guess what? As they’re weigh and they fall apart, I can tell that they’re not replacing the blades like they should, and they’re not in under good maintenance. So the Inflation Reduction Act, I talk about that here in a little bit later. But what they tell us manufacturing and installation cost 2.6 million, 1.3, but they say that they it’s a payback of seven to 12 years without subsidies. Hogwash. That is a lie. What they tell you is when you go out and search for it, they say that’s why everybody’s out there saying wind turbines are cheaper. They’re not. But when you go into the life cycle, unbelievable amount of pain trying to find these numbers. [00:10:49][184.2]
Michael Tanner: [00:10:49] Well, yeah, they they they want to make it as opaque as possible. And and you could argue this it’s it’s hard to find the numbers from an oil and gas exploration standpoint. We’re in the business, so we know how to find them. But I think you you you made an excellent point. And we’ve been on this for a while. You actually coined the term Turley’s Law, which says the more green we go, the more fossil fuels we use. And wind energy is a specific, specific example of that. I mean, I I when I first, you know, when the whole renewable push and we first started doing this podcast five years ago, I was sort of on wind was probably a little bit better than solar, if you had to put a gun to my head and ask them. I’ve completely flipped on that. Completely flipped. I could actually, I actually believe there’s a point at which solar plus storage there’s a need for it. There’s an there’s a time and a place for it. I think specifically if we’re gonna talk about this data center demand or you want to move to maybe a smart home capability, I think there’s a great, great mood for it. And I do think that that it’s moved into that. Wind is completely fallen off the tape for a variety of reasons. One of them being they’re just ugly to look at. Number two, the lifespan, which you’ve talked about. Number three, the carbon footprint these things make is pretty unbelievable. And the amount of electricity you get for that carbon footprint is absolutely terrible. So I think you hit the nail on the head with this one. [00:11:58][68.8]
Stuart Turley: [00:11:58] And the fun part is, Michael, nobody is talking about the $89 billion price tag when these things fail at eight years, they are fiscally totally irresponsible. Prices get passed on to consumers, and it’s going to be horrible. $89 billion for land reclamation is the start, is the start, and nobody’s talking about it. Let’s go to the next one. You can’t have a King’s Day without having President Trump standing on a box. He’s got a box there with the EU flag. I had so much fun asking Groke to create that picture. How Trump’s impact on the global green news scam tax by the UN translates to being customers, consumers being saved. I had fun writing this one. And you look at this article, I also have James Wood shout out to the real James Wood on X. Look at that beautiful outfit Trump is on on the White House. He’s got the crown. You gotta love it. But when you take a look, the International Maritime Organization, the IMO, the UN agency was on the verge of imposing the world’s first global carbon tax on shipping emissions. This would have been absolutely Bull crap and it’s a scam. Inter Trump on a coordinated US led campaign administrative rallies like Saudi Arabia Singapore to delay the vote. I thought that was a hoot. But tie in cutter. Cutter has also just on a related story. I tied that into this article. The CSDD, which is the corporate sustainability due diligence directive, which is a carbon tax that is going to impact U.S. Oil and gas providers trying to give them LNG is boohoo hockey. And cutter, way to go cutter. They told them to stick it in their ear. Penalties can reach as much as five percent of global revenue. A hammer that Cutter Energy Minister Sahed Shir Al Kabadi said overreaching and unjustifiable. Guess what’s gonna happen? President Trump’s gonna do the same thing that he did to the climate that he did to the UN Shark Week, that he did to the UN overreach on the shipping. We got Shark Week galore. We’re gonna now not just have Shark Week, we’re gonna have Trump Shark Week for a month because he’s gonna go after the CSDD D with a vengeance. Cause there is no way that we’re gonna be supplying LNG and forcing all that extra 15% on top of it. Good grief. What a mess. [00:14:41][162.6]
Michael Tanner: [00:14:42] It almost sounds like this you should like ask your doctor what C D C S can do for you. And then there’s a thousand different side effects. It may cause brain damage. It may cause above the rest of your life. What S D D can do for you? That’s exactly what it is. I mean, I don’t have much to add on this other than I think the fact that, you know, Cutter is is has been on this global export LNG train for a while. They’re a leader in it. They’re going to continue to increase it. And I think it’s smart for the United States to begin to partner with companies like this or countries like this because we’re gonna need a place to put our LNG because you know, we we can we can talk about this in in another day, but we’re only getting gassier and gassier as we continue to drill these basins out. [00:15:25][43.4]
Stuart Turley: [00:15:25] Oh, absolutely. Let’s go to the next story, Michael. Europe is the biggest loser in the US-China rare earth wars. You can’t buy this kind of stupid. In the escalating geopolitical tussle between the United States and China over rare earth eneromal EREs or critical minerals, as anybody that graduates from a Colorado School of Mines degree calls them, essential for everything is smartphones and electric vehicles. I wonder if we know anybody from the School of Mines. What a great school. Europe finds itself caught in the crossfire, emerging as the unintended primary victim. Both supervires vie for dominance and supply chains that undermine modern economics and defense defense systems. I’ll tell you what, this is really, really bad. And it’s going to break out. Europe’s commitment to net zero by 2050 has absolutely tubed it for this whole thing. And I put a chart in here how rare earth is used to power our defense. And you take a look at what we need, we have got a really pretty good grip on it. The USGS data shows US imports of REE compounds and metals dropped 11% this year from 2023 to 107 million in 2024. They’re going to drop again because we have continued to get it fixed. I think the Trump administration is doing it. We’re already at 50% of the gallium we need for defense and military. We can now produce in the United States. That’s huge. [00:16:58][92.2]
Michael Tanner: [00:16:58] Yeah, no, it it is really huge. I think the the EU has continued to continue, continue to shoot itself in the foot when it comes to a lot of this stuff. And I think when Europe says, hey, we’re going to not only go all renewable, but then we’re gonna make sure and not have any access to any of these rare earth minerals. I mean, it’s not they learn they should learn their lesson. They have they they learned it with Russia. Trump back in 2016 warned them you gotta get off Russian gas. It’s a national security thing. And I think that’s And they laughed at him. Yeah. And you know, as somebody who’s in the oil and gas business, you know, I’m not terri, you know, I’m not terribly excited about the oil and gas policies from the standpoint of we’re all about to make a lot less money next year. But you have to give Trump his dues from what he understands and always has been consistent that oil and gas and energy is a national security issue and should be treated as such. And I think that’s what Europe needs to figure out. And if you are gonna go renewables, then you have to look at it the same way you do oil. It’s a national security issue. I think the United States has figured it out, EU has not. [00:17:58][59.5]
Stuart Turley: [00:17:58] Oh, absolutely. And and I I want to say this for investing in oil and gas is it just means that like when you and I are doing deals and looking at deals, we pick the wells with the best analytics. So you can still invest in oil and gas, and we are still gonna be looking at deals that provide returns to investors. So it’s it is a a tough time for the oil and gas, but there is still lots of money to be made. And I’m gonna tell you this, Michael, there’ll be more money to be made in a low oil and gas environment than in renewables. [00:18:27][29.2]
Michael Tanner: [00:18:28] If you invest smart, and that’s what we do is we invest directly in the wellhead. We invest as close to the wellhead as possible. That’s where you’re gonna make your money. You’re not gonna make your money money buying Exxon mobile stock. You’re not gonna make your money buying EOG stock or diamondback stock. Love those companies, but you’re gonna make your money investing close to the wellhead, and that’s what we do, and that’s what we can help you out with. So, no, great, great call out. Yes, I am bearish. Wait a minute. There’s ways to make money in a bearish environment. You just have to be smart about it. Exactly. All right, well, no, great, great. So I mean, it’s pretty crazy what’s going out there. Stu. I want to talk a little bit about oil and gas prices. We’ve also got to cover rig counts, and then we’re starting to see earnings drip in. But first, we got to pay the bills. [00:19:07][38.8]
[00:19:08] 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.[00:21:47][159.1]
[00:21:49] Markets a bit, but you know, Friday they actually bumped a little bit, Stu. We saw crude oil. I don’t want to say jump a little bit, but it ended up relative to where it started. We closed the 57 15. Prices look to open a little bit here this afternoon. I’m at 5725 natural gas closed at basically three dollars, and that’s where we’ll think we’ll open. But on a weekly basis, it’s sort of a another loss relative to where we started. IEA continues to forecast a rising glut. Obviously, we’ve got President Trump and Putin planning on on meeting in Ukraine, which is interesting. That’s amid the ceasefire talks that it happened in Gaza. Hungary. Oh, they’re meeting in Hungary on Ukraine. Excuse me. That would have been a little crazy. Thank you. Sorry. I’m not I’m starting World War Three right here with the news on this too about jump’s chair. That’s funny. I I do think there’s some interesting point. We did see that the U.S. Has decided to continue to pressure India in in order to stop buying Russian oil. So very interesting. Phil Flynn, he’s a senior analyst over with Price Futures Group. Quote, we’ve had a once-in-a-generation peace deal in the Middle East. Iran is neutralized and now Ukraine, an unprecedented amount of risk has come out of the market. So I think that’s a big reason why you are seeing prices drop. [00:22:57][67.3]
[00:22:57] We also did see rig counts drop. I I do find it very interesting from a rig count standpoint, Stu. Total, we saw the United States. Oh, we actually gained one rig relative week over week. Now I think the week over week trends are a little bit deceiving. I think the interesting part, we’ll see what happens next week. We’re still down about 37 year over year, which I think is interesting. You know, I I I think there’s some more rigs that need to be shed. I would say there’s probably about 10%. If you had to, if you had to, you know, put the proverbial gun to my head, Stu, I would say. Probably looking at 15 to 20% rig count drop if we see prices stay the same. I mean, you know, I look we look at deals all the time. I’ve got three deals on the hopper I’m I’m reviewing right now for customers, clients, and and investors of ours. And you can find stuff that works. Don’t get me wrong. It’s just, you know, it’s you really have to be tight with your numbers and you have to think about how the structure of these deals work. And so I do believe we’re gonna see some rigs fall off. [00:23:52][54.4]
[00:23:52] We did also see where we’re starting to see some earnings trickle in as always. Oil field service earnings come in first. Then we see the tail end of the upstream earnings. So Slumberger, they did report Q3 earnings that were actually higher than the street expected, which is is fairly interesting, mainly due to the fact that internationally they’re doing extremely strong. We saw adjusted earnings per share, came in at about you know 69 cents per share, which beats estimates at 66 cents per share. International revenue actually jumped to 6.92 billion, which is actually up 1% quarter over quarter, but was down 7% year over year. The interesting part is we saw our North American revenue jumped 17% to 1.93 billion, which was actually a 14% year over year increase, which is mainly bolstered by offshore growth, you know, in the midst of falling land. And that’s the interesting part, okay. Offshore will continue to make money. And I and as you see US onshore fall, you will see offshore kick up because it’s one of the few places that will actually make a little bit of cash. You know, on the digital side, revenue jump or digital revenue jumped 11% to 500 or 658 million, and they had a pre-tax operating margin of about 28.4 percentage point, which is really interesting. Reservoir’s reservoir performance dipped 1% to about 1.6 billion, which has an 18.5% margin. And then some other stuff was was fairly interesting. Yeah, as we know, they added Champion X a little over a year ago, which was completed on July of 2025. They completed that at the beginning of the year. They actually added about 579 million in revenue, mainly to their production chemicals and artificial lift solutions. So actually was a pretty good outlook for Slumberger. Their stock jumped about two percentage points on the news, even with declining oil prices. So I think it’s a little bit interesting for Slumberger to come out. Now, again, this is looking at quarter three, which is you know, June, July, you know, July, August, September, which oil prices were kind of in the $65 range. So if you’re asking now what the outlook for QQ4 is, it’s not gonna be as well. And they really didn’t actually give any guidance in there. Because of course, why would you give guidance when you think it’s gonna be low? Who’s gonna provide guidance lower? Or at least on the earnings call. If you’re gonna beat what your earnings expectations are, ride that news for a few days, don’t actually then submit guidance that sucks. [00:26:04][131.8]
Stuart Turley: [00:26:05] Hey, on your comment on India, I think President Trump sanctioning India is a mistake because he President Trump did brag on the fact that he said, Hey, Modi’s not gonna buy oil. Well, President Modi looked at President Trump and said, I will not buy any oil. He did not lie. He told his group who don’t buy any government oil. But who buys all the oil in India? Private companies. So private companies are laughing right now because they are currently buying everything they can from Russia still. Oh no, I [00:26:39][33.8]
Michael Tanner: [00:26:40] Completely agree there. So I I find it I find it really interesting. I the uncertainty on what happens from a geopolitical economic standpoint is I think the biggest if if you had to if if you list the pros and cons of the Trump administration so far, you squarely have to put that on the cons side because it is becoming extremely exhausting for companies, specifically in the energy industry, to sort this out. You see that in all of the comments on the Dallas Fed Energy Survey. So it’s a sentiment that’s far out there. [00:27:06][26.5]
Stuart Turley: [00:27:07] It it is. And if we end up with a peace deal in Ukraine and Russia in the war, we are going to this goes back to that article why I think I’m gonna be bullish on reindustrializing around the world. We are going to see some great things happen in the near term. [00:27:23][16.2]
Michael Tanner: [00:27:23] No, I agree. Well, all right. We’re about done here, Stu. My favorite segment of the week. What’s keeping you up at night? [00:27:29][5.4]
Stuart Turley: [00:27:29] I’m really not worried about a thing. I think things are gonna be getting a lot better. Keep your head on a swivel. Be prepared just in case the grid goes down. And if there’s a storm, always be ready to take care of your neighbors. [00:27:42][12.6]
Michael Tanner: [00:27:42] Absolutely. Always have enough gas to get up to your place. That’s that’s what somebody somebody smart once told me, guys. Well with that, appreciate you starting your week with energy newsbeat for Stuart Turley. I’m Michael Tanner. We’ll see you next time, folks. [00:27:42][0.0]
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