Daily Standup Top Stories
Brent Breaches $79 On OPEC’s Production Cut Pledges
Oil prices climbed on Tuesday as the oil markets began to believe the narrative that oil could tighten in the second half of the year. Brent crude oil climbed above $79 per barrel on Tuesday, the […]
Kazakhstan Turns to Russia to Help Plug Power Crisis
The vulnerability of Kazakhstan’s vital oil and gas sector to the nation’s crumbling electricity network was exposed this week when a major power outage hit the west of the country with widespread repercussions for export […]
BRICS and Nukes and LNG – the energy transition few are expecting
Sometimes I hear people going on about how rapidly the world is changing. “The pace is unbelievable, who can keep up…” Most times I roll my eyes a fair bit, a good 80 degrees I’d […]
Batteries And Renewables Are Saving Texas During The Heat Wave
Texas, along with much of the South, has been subject to a relentless, prolonged heat wave for several weeks – the kind of climate-fueled extreme weather event that scientists have warned us will happen with […]
Texas to receive $60 million from U.S. Department of Energy to strengthen electric grid
The Texas Division of Emergency Management will receive $60.6 million from the U.S. Department of Energy to strengthen the state’s power grid infrastructure in preparation for future extreme weather. The Energy Department announced Thursday that the grant […]
Highlights of the Podcast
00:00 – Intro
02:57 – Brant breaches 79 bucks on OPEC’s production Cut cut pledges
06:13 – Kazakhstan turns to Russia to help plug power crisis
08:56 – BRICS Nukes and LNG, the energy transition few are expecting
13:25 – Batteries And Renewables Are Saving Texas During The Heat Wave
16:36 – Texas to receive $60 million from U.S. Department of Energy to strengthen electric grid
18:37 – Market Updates
21:22 – Ring Energy Announces Accretive All Cash Asset Acquisition Strategically Expanding Core Operating Area
25:15 – Outro
Follow Stuart On LinkedIn and Twitter
Follow Michael On LinkedIn and Twitter
– Get in Contact With The Show –
Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Michael Tanner: [00:00:07] What is going on Everybody, Welcome into another edition of the Daily Energy News Beat Stand up here on this gorgeous Wednesday, July 12th, 2023. As always, I’m your humble correspondent, Michael Tanner, coming to you from an undisclosed location here in Dallas, Texas, joined by the Executive Producer of the show, the purveyor of the show and the Director and Publisher of the world’s greatest website www.EnergyNewsBeat.com Stuart Turley, my man how we do it today? [00:00:30][23.1]
Stuart Turley: [00:00:31] Its a Beautiful day here in the neighborhood is hotter than snot out here in west Texas. [00:00:34][2.9]
Michael Tanner: [00:00:35] Yeah it’s not much better here here in Dallas my man it’s blazing but we to survive and we have brought you a great show Stu’s got an excellent menu. First up, Brent reaches $79 on OPEC’s production cut pledge, this is a teaser, a headline of what I will cover, which is oil prices really reaching a ten week high, which is great so Stu will cover what those OPEC production cuts really mean for the larger global economy. [00:01:02][26.8]
Michael Tanner: [00:01:03] Next up, Kazakhstan turns to Russia to help plug power crisis, this is a super interesting article coming out and really a fallout from that Ukraine war. Next up, BRICS and Nukes and LNG, the energy transition few are expecting Stu’s got some larger thoughts surrounding the meetings that are taking place in Johannesburg. [00:01:24][21.7]
Michael Tanner: [00:01:26] Next up, Batteries in Renewables are saving Texas during the heat wave yeah, little counterculture there for you folks. This is an article we pulled out of gold be interesting to dive dive in to see what Forbes has to say. So apparently renewables are saving us thank goodness they’re saving us and the whales so all good to hear. [00:01:42][16.4]
Michael Tanner: [00:01:44] Next up, Texas to receive 60 million from U.S. Department of Energy to strengthen the electric grid we love that. Stu will toss it over me I’ll quickly cover again what happened with rising oil prices do they currently sit in about 74, 82. [00:01:56][12.0]
Michael Tanner: [00:01:57] We do have the API crude oil inventory numbers to cover it then a quick overview of the of the Ring energy M&A action they go ahead by founders oil and Gas for a little bit of cash I’ll cover what that means and we’ll poke a little bit of fun about their their acreage spacing. [00:02:13][16.0]
Michael Tanner: [00:02:13] But before we do all that, guys, again check us out world’s greatest website www.EnergyNewsBeat.com the best place for all of your energy news all the stories we are about to cover courtesy of that website hit the description below. Stu The team does a great job of curating them to make sure it stays up to speed with all of your best energy news. [00:02:31][18.0]
Michael Tanner: [00:02:31] Dashboard.EnergyNewsBeat.com the best place for all of your data and energy news combo get it while you still can. It’s going somewhere, folks I compound in the dead horse here, but I promise you guys hit that link below if you want to sign up to get early access to V2, we’d love to show you what we’ve been working on, but that’s about it Stu, What do you got for us? Where do you want to begin? [00:02:51][20.0]
Stuart Turley: [00:02:52] I’ll tell you what, Michael we’re just going to have some serious fun here. Brant breaches 79 bucks on OPEC’s production Cut cut pledges at the time we’re recording this. WTI is at 74, 81 and it looks like Brant is 78, 61, so it backed off just a little bit. So here’s what we got going on Saudi Arabia last week announced that it was extending its 1 million barrels per day production cut into the month of August it’s going to continue longer than that. [00:03:30][37.8]
Michael Tanner: [00:03:31] The Saudi lollipop that keeps on giving what is it? How many licks does it take to get to the center of a Tootsie Pop? You tell me exact date to get to the center of the lollipop that Saudis got out right? Hopefully a while. [00:03:42][11.5]
Stuart Turley: [00:03:43] It will be. Now Oil prices responded immediately with a 1% increase a few traders suggest the market should have responded with a bigger bang. Hmm. Fundamentals I Michael. I gave up trying to work on fundamentals on oil and gas anymore. Oh. [00:04:03][19.6]
Michael Tanner: [00:04:04] I think it’s interesting, Stu People hear me opine about what I think oil prices should be every day. Whoa. You know, what do you think? In light of everything, in light of what Saudi Arabia is doing, clearly showing that they want higher prices, clearly with this with this move to cut, where do you see things go? Where do you see things going from here? [00:04:22][17.8]
Stuart Turley: [00:04:22] I see there is only one way oil prices can go it’s up there is no doubt in my mind we’re short trillions of dollars in investing in oil and gas in order to meet just normal decline curves. Let’s take the next step up. Oil demand is not going to go down. Wow. The more we go renewable, the more oil and gas we’re going to use I’m sorry I’ve had that formula for years, Michael. You know it. [00:05:00][37.7]
Michael Tanner: [00:05:00] You’ve been living in the Twilight Zone for too long. [00:05:02][2.1]
Stuart Turley: [00:05:03] But you know what people are like. [00:05:04][1.3]
Michael Tanner: [00:05:06] It’s true, though you you’re starting to see it. I mean, quite honestly, it probably rolls into some of the articles we’ll cover up here but no, I tend to agree with you do Stu I am. I am turning a little bit bullish on oil. We did see some estimates come out today saying that $90 WTI is still obtainable this year that was out of Enverus intelligence research we love them over there. [00:05:33][27.4]
Michael Tanner: [00:05:33] Even though we stopped sponsoring the podcast but that’s okay we now only think they’re semi smart. See, that’s the nice part about sponsoring the podcast we say you’re uber smart and you know it’s part of the podcast you’re just you’re averagely smart. So but they were still saying that 90 is still obtainable, which I probably tend to lean that way more than I tend to lean oil should be 50 if you had to put the proverbial gun to my head. [00:06:04][30.1]
Stuart Turley: [00:06:07] I don’t want to do that I need you guys this time or the next one Kazakhstan turns to Russia to help plug power crisis. This has got a lot of stuff in there because of the geopolitical stuff going on. [00:06:22][15.3]
Stuart Turley: [00:06:23] First paragraph, in there is the vulnerability of Kazakhstan vital oil and gas to the nation’s crumbling electricity network was exposed this week when a major power outage hit the west of the country with widespread repercussions for export pipelines, fields and refineries. [00:06:47][23.9]
Stuart Turley: [00:06:48] That whole mess over there in Kazakhstan is absolutely a mess, with all the pipelines dependent on Russia. Let me go down here, One of the most significant impacts was seen at the Caspian Pipeline Consortium, which transports 80% of Kazakhstan’s crude oil exports, or 1.2 million barrels per day. That’s nuts. [00:07:18][29.6]
Michael Tanner: [00:07:18] Yeah. We love our folks over at Energy Intel I think this is an interesting quote from Ben Goodwin he’s the director of analysis over at PRISM Political Risk Management. He says, you know, Kazakhstan’s if this infrastructure crisis is clearly the result of years of neglect, of critical physical infrastructure, he does note that corruption must be part of this story However, behind this, neglect is also a failure of reform. [00:07:40][21.4]
Michael Tanner: [00:07:40] The government has not put the market mechanisms in place that would break down monopolies or cartels, nor created a climate that would stimulate investment or production. Blah, blah, blah, blah, blah. So we basically there’s some corruption going on over there you can’t say you can’t say there’s not. [00:07:53][12.7]
Stuart Turley: [00:07:54] No, I think there’s corruption over there, but it’s not as bad as Ukraine, which is a crime scene right now. So let’s take a look at. [00:08:02][7.8]
Michael Tanner: [00:08:03] Is Hunter Biden on any of these boards, by the way? We should probably fact-check some of this just joking. [00:08:09][6.2]
Stuart Turley: [00:08:12] Don’t know that’s worth an investigation I don’t want to touch it, I don’t want to touch Hunter. [00:08:16][3.6]
Michael Tanner: [00:08:18] Didnt you leave something at the White House a couple weeks ago, by the way? [00:08:19][1.8]
Stuart Turley: [00:08:20] Oh, no I gave that up for Lent 20 years ago. [00:08:26][5.5]
Michael Tanner: [00:08:26] Just you my thought [00:08:26][0.7]
Stuart Turley: [00:08:28] Yeah. Well, Kazakhstan has a lot of gas half of its production is re-injected in consumption is rising so fast, exports could halt by 2025, that’s a lot of exports people depend on from that. [00:08:43][15.7]
Michael Tanner: [00:08:44] It’s. It’s it’s not good and we hope for the global energy sake they can get that stuff turned around. All right Let’s move over to BRICS, as spooky as that is. [00:08:52][8.5]
Stuart Turley: [00:08:53] Okay. I love the title of this. It’s why we got it. BRICS Nukes and LNG, the energy transition few are expecting. Oh. [00:09:02][9.0]
Michael Tanner: [00:09:04] Stu agree with BRICS. I’m ready for this one. [00:09:06][2.1]
Stuart Turley: [00:09:07] I tell you what, People are underestimating the stupidity of our current administration in weaponizing the dollar in the energy world this is the second paragraph. Now we are relentlessly told relentlessly that an energy transition is underway and that the rate of change is dizzying and unprecedented to a certain extent that is true. New technologies are being developed that might be quite revolutionary, assuming we can integrate them into anything resembling a cost effective manner. I love that. Yeah. [00:09:46][39.0]
Michael Tanner: [00:09:48] It’s good. [00:09:48][0.2]
Stuart Turley: [00:09:49] Some of the bigger problems, The first is global rise of LNG, Michael LNG there are countries all over the place. I believe it was Indonesia yesterday just signed another 20 year LNG contract. We know China has signed 25 year contracts we know all of that. So why is LNG if everybody is going to be renewable, Why are all these 20 year contracts coming in? [00:10:22][33.6]
Michael Tanner: [00:10:23] Yeah, because they it’s look at me over here don’t to distract from what we’re really doing over here. Exactly. It’s the puppet guy behind it. Oh. [00:10:32][9.4]
Stuart Turley: [00:10:34] Oh, yeah and so when you take a look at it, the emerging markets are coal. I still think we need to let Africa use their natural resources and their natural gas. I mean, it’s called The World Bank is only financing renewables let’s let them let’s get them electricity first. [00:10:57][23.6]
Stuart Turley: [00:10:58] Anyway 10 years ago, BRICS was started by Brazil, Russia, India, China and South Africa. There’s about three or four other articles that came across the desk and there is even more demand it’s now the dollar is being accelerated out. [00:11:17][19.1]
Michael Tanner: [00:11:18] So, yeah, we’re Energy News Beat we’ve got our BRICS membership in. Have we heard anything yet? How’s our application doing? [00:11:25][7.1]
Stuart Turley: [00:11:26] They didn’t want they didn’t like the amount of money that I was offering to pay for graft to go in and so I’m waiting on the kickback number that they want. [00:11:36][9.3]
Michael Tanner: [00:11:36] Okay. [00:11:36][0.0]
Stuart Turley: [00:11:37] Only so SMRs Small Modular Reactors is actually coming up to actually fit into this discussion. The rapidly growing BRICS group is looking to forge its own pathway to counter the influence of the West and and have more active in how they should be developing. [00:12:01][23.9]
Stuart Turley: [00:12:02] And this is really crazy. Russia is stepping to the front of the nuclear exports for energy are they’re going to be developing nuclear facilities for folks. We should be doing that, but I don’t think we know how to do that. [00:12:23][21.1]
Michael Tanner: [00:12:24] Well, we have a regulatory process that doesn’t allow us to develop nuclear quick enough to compete with some of these, you know, what we would consider more state sponsored places where you’re going to have much either more interference from the government or less interference from the government, depending on who you are. Oddly, a little bit like like what we have here, except we just mask it and cloak it all in just weird regulations that nobody can understand. [00:12:47][22.9]
Michael Tanner: [00:12:47] But I think it is interesting the combination of what BRICS is going to do they’re obviously going to be a key player in the energy going forward, considering they have China and India a part of them. So as BRICS goes, so will energy demand because whatever they want will follow them let’s move to this next one Stu tell us how batteries in renewables are saving us. [00:13:06][18.5]
Stuart Turley: [00:13:06] I love this article it was great. At first I thought it was a picture of the view it was one for our podcast listeners, a picture of a cow. And I really thought it was a picture of one of the members on The View so, you know, sorry, that’s what attracted me to the article. [00:13:24][17.6]
Stuart Turley: [00:13:25] So when we’re sitting here, along with Texas, the South. Texas Michael has some of the single best we are now just recently outperforming California in the amount of renewable energy used on the grid. So Texas is not only are we oil and gas, we’re renewable we got nuclear and so, hey, I’m all about Texas. Love me some Texas. [00:13:55][30.4]
Michael Tanner: [00:13:56] Yes. I think what we have to realize is this it’s the battery storage that’s been saving us, not necessarily the dispatchable wind and solar that’s been available right now. And we can store electricity in batteries in multiple ways we can use it, you know. So I think that’s the critical component to this article. [00:14:17][20.8]
Stuart Turley: [00:14:18] Yes. When you come down into the storage now, how much does storage add to the cost per kilowatt, per hour in maintenance in adding it in there? And so California, I have to throw that I have to fact check myself, but I believe it is around $0.27 per kilowatt hour and Texas has half of that. [00:14:42][23.8]
Stuart Turley: [00:14:43] So a good chunk of our stuff is still natural gas. Good. You know, we and so you sit back and we have 4 nuclear reactors to the one that California is running. So plus, all the people are moving from California to Texas and I hope they leave their voting policies there. [00:15:04][21.1]
Michael Tanner: [00:15:05] Yeah. I mean, you have to realize Texas accounted for 70% of the grid battery additions in the first three months, resulting in 3300 megawatts. So, I mean, it’s it’s we’ve got the grid we’ve got that won’t work the market will come with an efficient way to solve the problem. [00:15:22][17.0]
Michael Tanner: [00:15:23] ERCOT wasn’t just going to sit around and keep letting this happen again the market was going to figure it out. And guess what it’s finding out it’s storage is what we need and the money’s being funneled into the storage. [00:15:32][9.4]
Stuart Turley: [00:15:34] And that’s where it should be because, okay, if you are 100% oil or 100% natural gas and you’re going to fail, if you’re 100% coal, you’re going to fail. If you’re 100% nuclear, you’re going to fail. We need all forms of energy to elevate the humanity out of the poverty. Here’s where it gets a little silly you got to balance it out to the lowest kilowatt per hour nobody seems to be able to figure that one out. [00:16:06][32.1]
Michael Tanner: [00:16:06] Yeah. All right. Let’s talk about I talked speaking of Texas, the DOE is helping us out here. [00:16:12][5.2]
Stuart Turley: [00:16:12] You love it. 600 million, I think, is. [00:16:14][2.1]
Michael Tanner: [00:16:15] 60 million I wish it was 600. [00:16:16][1.4]
Stuart Turley: [00:16:18] Oh, yeah, 60 million. Oh, that’s about what the Bidens got, I think. I could be wrong. I read that just recently. Anyway, the Biden in Russia, they know the Russian. Bidens the other part of it. [00:16:32][14.5]
Michael Tanner: [00:16:32] Yes, yes, yes, yes. [00:16:34][1.2]
Stuart Turley: [00:16:34] Okay. So the Texas Division of Emergency Management will receive 60.6 million from the Department of Energy to really add in strength in electric grid. It took $3 billion to get the wind farm energy from west Texas and Abilene and everything else to Dallas in the eastern part of the state so I don’t know how ERCOT is pricing that thing in there. The new funding is part of a $207 million grant the feds provide nine states in three tribal nations to reduce the effects of extreme weather on electrical grids. I love it. [00:17:18][43.6]
Michael Tanner: [00:17:19] Yeah. Hey, we’ll take all the help we can get if we’re going to put if we’re going to donate money somewhere in the Porkulus bill, dump it into the grid there are worse places to dump it. [00:17:28][9.0]
Stuart Turley: [00:17:29] There was not ok of to 270 million 200 set whatever let me go look at the number. Over the next five years, the federal government plans to distribute 2.3 billion Ingrid Resilience and Tribal Formula grants. Yay! That is phenomenal but how many trillions was the Inflation Reduction Porkulus Act? [00:17:56][27.8]
Michael Tanner: [00:17:58] Yeah, I was in there. I don’t know. [00:18:00][2.2]
Stuart Turley: [00:18:01] Yeah. So we actually need trillions to be placed into that grid. [00:18:05][3.8]
Michael Tanner: [00:18:05] Only say, as long as a few billion flowed into my pocket I’m good. [00:18:10][4.7]
Stuart Turley: [00:18:11] Hey, that’s it. What’s a few billion between friend? But I think we got to have a T-shirt made what’s a few trillion between friends now? [00:18:18][6.8]
Michael Tanner: [00:18:19] And imagine by the time this show ends do in 20 years it’s going to be what’s what’s after a trillion. [00:18:24][5.0]
Stuart Turley: [00:18:25] A gazillion. [00:18:25][0.2]
Michael Tanner: [00:18:26] A gazillion zillion between friends you got anything else? [00:18:30][4.4]
Stuart Turley: [00:18:31] Now let’s let’s hear about rings and the rest of the stuff. [00:18:34][3.0]
Michael Tanner: [00:18:35] Yeah, and we will. We’ll start with oil prices, guys we’re actually up 2%. You know. You know, we’re talking about a ten week high here, mainly off the back of some weaker dollar rising demand forecasts. [00:18:46][10.8]
Michael Tanner: [00:18:46] Again, we did see that the EIA come out and dropped a little bit of a new report that basically said the market is going to be tightening come towards the end of the year. To give you guys an idea or excuse me, this is the EIA so we think, you know, we like this a little bit better, we like this a little bit better. [00:19:07][20.8]
Michael Tanner: [00:19:08] You know, EIA came out and said, we’ve got oil global oil output will rise from 99.9 million barrels per day in 2022 to 101.1 million barrels per day in 2023 and in 2024, 102.6 million barrels of oil today, while demand will be sitting at 99.4 in 2022 to 1 to 1.2 to 102.8 in 2024. So they project a slightly under balanced market, if you notice, by 100,000 barrels a day if you notice. [00:19:42][33.5]
Michael Tanner: [00:19:43] So what does that mean for prices going forward? We just covered it in the long term. It’s probably why you and I are bulls the the the IEA, you know, good luck to them they’re they’re publishing their new forecast next week you know, write on it, you know, ahead of the game you know, they’re too busy dealing with the IPCC. [00:19:59][16.2]
Michael Tanner: [00:20:00] So they read the IPCC last week they’re on loan now to the EIA or they get sent back to the World Economic Forum. Okay. So it’s just that they’re you know, we got U.S. crude oil output is going to rise to about 12.6 million barrels a day, up from 11.9. So Woop! Woop!, there we go and we’ll set it 12.9. In 2024, consumption will be about 20.3 million barrels in 20.4 and 20.8 in 2023 and 2024. So, Stu, you were right they’ve got demand. Up, up, up, up oh, but we’re going to EVs now, aren’t we? [00:20:37][37.5]
Stuart Turley: [00:20:39] It won’t make any difference. [00:20:40][0.8]
Michael Tanner: [00:20:41] I know. I’m with you. I’m with you. But what? What does that mean going forward? I think there’s just a lot of bullish sentiment happening right now. I think the tides the tides are shifting a little bit. People have been saying oil needs to pop for a while I’ve been a little bit skeptical, but you’re starting to win me over a little bit Stu you can only ride that dead horse for so long before you got to hop on the train and it might be about time to place some bets here so all is well there. [00:21:03][22.6]
Michael Tanner: [00:21:03] We did see the API come out and do a 3.02 million barrel build in the estimate for this for the Strategic Petroleum Crude Oil reserves, which you guys here on Wednesday will hear at about 10 a.m. Central that did nothing to curb appetite so we were still up again 2% all day. [00:21:20][16.3]
Michael Tanner: [00:21:20] So nobody I mean again, the tide is turning bullish considering the stuff I thought I thought it hilarious to bring up we’ve got our favorite team over at Ring Energy. You know, they did a $75 million cash transaction over there in the Central Basin platform. Do you guys in a that’s actor County, Texas, they went ahead and buy out all of those assets from the founders oil and gas for 3600 net acres. [00:21:48][27.8]
Michael Tanner: [00:21:50] To give you guys an idea they paid about 2.3 adjusted EBITDA, a slow decline, 86% oil. I found this hilarious, Stu they’re saying in 3600 acres, they got 50 low cost, high rate of return, undeveloped locations. I’ll go out on a limb and cut that divide that by ten, and maybe that’ll be what it turns out to be. [00:22:11][21.1]
Michael Tanner: [00:22:11] But don’t don’t look, no one will be there to check the numbers when we actually know in two years. So it’ll be all good but trust me, the listeners of this show will know listeners that they were. You know what? T-shirts we need 20 million high quality locations that’s the shirt we need. I just need a shirt that has a bunch of zeros and, say, high quality drilling locations. IR guy of the week what do we got here? Who do we have? Contact information Al Petri advisers they’re outsourcing their IR? [00:22:47][35.4]
Stuart Turley: [00:22:48] No! AL! [00:22:48][0.0]
Michael Tanner: [00:22:49] Sourcing their air to Al Petri advisers suite. [00:22:53][4.0]
Stuart Turley: [00:22:53] Good for Al he knows how to swing a club. [00:22:56][2.4]
Michael Tanner: [00:22:56] Yeah, it’s like. So, you know, you’re getting the most quality, quality analysis you’ve got a contractor on it. Perfect! [00:23:03][6.3]
Stuart Turley: [00:23:04] And as good dude, though. All right. Hey, What? What are you done? [00:23:07][3.7]
Michael Tanner: [00:23:09] Sure? [00:23:09][0.0]
Stuart Turley: [00:23:10] Okay. [00:23:10][0.0]
Michael Tanner: [00:23:10] Beat him up more, But I guess he’s your friend, so we won’t. [00:23:12][2.1]
Stuart Turley: [00:23:13] Oh, no, he’s. He’s good, dude. Hey, I rack something that prove along the same thing. Total energy. You know, that’s about as French as I get they went totally to the green side, and we covered that and then all of a sudden, they had to go, Well, maybe renewable not any profit when Siemens lost 1.2 trillion you know, you start looking at all this kind of stuff. [00:23:40][27.2]
Stuart Turley: [00:23:41] Iraq and Total energy, just are signing a massive oil, gas and renewable deal. Iraq can’t do this on their own so total is now hypocrisy deluxe I have to look up what hypocrisy is and in French but. [00:24:05][24.4]
Michael Tanner: [00:24:06] Machete. [00:24:06][0.0]
Stuart Turley: [00:24:07] And yeah me you okay we’re going to get banned from what. [00:24:12][4.8]
Michael Tanner: [00:24:12] Was the good wine guy. [00:24:13][1.0]
Stuart Turley: [00:24:14] Yeah we’re going to get banned from France but this is a perfect example of what’s going to happen is that you’re going to see these closet sneak ins for more oil going in. Why would Total be putting in money into Iraq when it’s a dangerous place unless they see profits? [00:24:36][22.3]
Michael Tanner: [00:24:39] Yeah. I mean, let’s. We’re going to let’s do the show in Iraq Stu will they sponsor us? [00:24:45][5.3]
Stuart Turley: [00:24:46] I’m totally after my French. Absolutely! Last time I was in some places speaking French, I ordered an oven broiled tractor. No, I can’t speak French. [00:24:56][10.2]
Michael Tanner: [00:24:57] All right, guys, on that lovely note, we’ll let you get out of here. We appreciate you checking this out here on this Wednesday, July 12th, for Stuart Turley Im Michael Tanner Folks, we’ll see you tomorrow. [00:24:57][0.0]
