September 25

Daily Energy Standup Episode #215 – Navigating the Energyscape: From Grid Reforms to EV Batteries and Oil Prices

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Daily Standup Top Stories

Recent grid reforms might not be enough for Virginia to hit future clean energy targets, advocates say

​ Note to readers: This article has been updated with comments from PJM Interconnection that were submitted after publication. Virginia is on track to meet short-term carbon-free targets laid out in the sweeping Clean Economy […]

EV Battery Factory Will Require So Much Energy It Needs A Coal Plant To Power It – Cowboystatedaily.com

ENB Pub Note: A shout-out to the Cowboy State Daily website and staff. They do a great job, and please support them.  A $4 billion Panasonic electric vehicle battery factory in De Soto, Kansas, will […]

The Trader That Sparked A Surge In U.S. Oil Prices

The trading arm of French supermajor TotalEnergies is gobbling up U.S. crude, pushing WTI crude for delivery at Cushing to its highest premium since November, Bloomberg has reported, citing unnamed sources. Dubbed Atlantic Trading and Marketing […]

The New Face of Nuclear Energy Is Miss America

ENB Pub Note: We are in the scheduling process with Grace to be a guest on the Energy News Beat Podcast. She had a fantastic interview with Rey Trevino on the Crude Truth this month. […]

Federal judge orders Biden administration to expand Gulf of Mexico oil auction

(Bloomberg) – The Biden administration has been ordered by a federal judge to expand its sale of Gulf of Mexico oil leases later this month. The Louisiana-based judge concluded that the Interior Department probably moved […]

Highlights of the Podcast

00:00 – Intro
03:24 – Recent grid reforms might not be enough for Virginia to hit its clean energy targets. Advocates say.
06:54 – Any battery will require so much energy. It needs a coal plant to power it.
08:40 – The trader that sparked the surge in US oil.
10:18 – The new face of nuclear energy is Miss America.
12:09 – Federal judge orders the Biden administration to expand the Gulf of Mexico oil auction.
16:42 – Markets Update
19:51 – Exxon plans to rework and double production in the Permian
26:13 – Outro

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

Michael Tanner: [00:00:15] What is going on. Everybody, welcome into another edition of the Daily Energy News Beat Stand up here on this gorgeous Monday, September 25th, 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, Energy News Beat Stuart Turley, my man. How we doing today? [00:00:38][23.0]

Stuart Turley: [00:00:38] It’s a beautiful day in the neighborhood. And I mean, there’s some wild news going on out there. [00:00:42][4.3]

Michael Tanner: [00:00:43] Absolutely. The weekend is never short of stories. We hope you guys had a relaxing weekend and we’re here to fire you up, support you all through the week, bringing you the best energy news. First up on the menu for today’s show, recent grid reforms might not be enough for Virginia to hit future clean energy targets. Advocates say. Oh, you don’t say. We’ll see what’s going on over in Virginia. Next up, EV battery factory will require so much energy, it needs a coal power plant to power it. That’s courtesy of one of our favorite websites, Cowboy State Daily. In a shocking turn of events that you would have only known about if you listen to this show, EV batteries need coal to power it. Just do a cover. What’s going on in Wyoming? Next up, the trader that sparked a surge in U.S. oil prices. Hmm. Dun dun dun. Love a good conspiracy theories as to who’s going to dive in to be who’s driving up our energy prices. News flash. So you think. Next up, the new face of nuclear energy is Miss America. Interesting. So still, we’ll dive into who’s nuclear energy is rolling out or is the new marketing spokesperson at Dan finally better looking than steel? Well, I’ll tell you a hint. They’re. Yeah, better looking than steel. Next up. And finally, federal judge orders Biden administration to expand Gulf of Mexico oil auction in a back and forth. You know legal with the administration back and forth federal judge now Louisiana ordering this administration to expand its September 27 oil auction. Still will cover that. He’ll kick it over to me. I’ll lightly cover what happened in the oil markets on Friday. We did see rig counts and then we’ll really just kind of prep you guys for this. We keep you up to speed on what you should watch out for and then we’ll let you get on here and start your week before we do all that. Guys, as always, the stories and analysis you’re about to hear are courtesy the world’s greatest website. Energy News Beat the best place for all your energy news soon in the team. Do a great job of curating that website to make sure it stays up to speed with all of the pertinent energy in oil and gas news. You can subscribe to this podcast on Apple Podcasts, Spotify or YouTube via energy news beat. That’s the best way to support the show. Go to YouTube at Energy News Beat and hit that subscribe button. We appreciate everybody who’s done that. You could also check out our data news product combo dashboard.energynewsbeat.com the best place for, as I mentioned, that data news combo interact with the show [email protected]. Check out the description below. Links to all the articles you’re about to see. Another way to interact with the show again, [email protected] Follow both Stu and I at LinkedIn all in the description below. I’m out of breath though. Stu. Where do we want to begin? [00:03:18][154.9]

Stuart Turley: [00:03:18] Hey, let’s have a little bit of fun. Boy, that almost sounded like Putin. Hey. Hey. Okay. Recent grid reforms might not be enough for Virginia to hit its clean energy targets. Advocates say, You know, Michael, this is a common theme. And when you sit back and take a look at job creation, wind, solar capacity in the Q and then you take a look, Virginia is on track to meet short term carbon free targets laid out in the sweeping Clean Economy Act of 2020. It’s remarkable considering that 44,000 megawatts of wind in solar energy storage projects proposed across the state are still waiting in PJM interconnection queue, which is. Michael, what is that? That is a regulations from the Biden administration holding this up. Oops. Now, here’s another quote in here from Ammon. He says, Even though Virginia is in good shape for the immediate future, more proactive transmission planning would really help. Really? Yeah. Michael, you cannot put renewables on a grid without planning ahead. It does not work. You cannot do it in their 180, 180% higher in order to get it done. [00:04:48][89.7]

Michael Tanner: [00:04:49] It’s dumb. It’s the poor call call calling the kettle black. This Ammon Dana Ammon, you know, you know this Is there a policy analyst at the Natural Resources Defense Council who I’m pretty sure was involved in writing the Inflation Reduction Act. So the policy analyst didn’t think originally when they wrote the bill that maybe if we’re going to inject all of this money into the economy via clean energy, we. You at least have the ability for somebody to approve the permit. They’re absolutely stupid. So this policy analyst should probably go work. It’s probably out of the straight out of the IAEA, straight from oh, yeah, over here. And they’re getting hired by the Natural Resources Defense Council because clearly, if you had seen this coming, you would have addressed this in the Clean Economy Act. [00:05:35][46.4]

Stuart Turley: [00:05:35] Absolutely. [00:05:35][0.0]

Michael Tanner: [00:05:37] The clearest. [00:05:37][0.1]

Stuart Turley: [00:05:38] Further down here, it says 5200 megawatts of offshore wind. While she is cheered by the progress, though, so far, she’s faced many hurdles. Michael. On 5200 megawatts, let’s talk about what that means to the grid. 5200 megawatts may be the tag on that wind turbine for their capability as a generation. But for a grid balancing authority being able to do that, that’s divide that by 180. You’re not going to be able to count on that wind in order to remain all the time. [00:06:17][38.7]

Michael Tanner: [00:06:17] And I use about 5.2 megawatts of electricity every month to power all my screens. So I don’t even buy it’s that much. I just think it’s hilarious. Everyone now is talking about permitting for permitting. We’re going to firm regulations like you dummies. Think of that beforehand. Did the regulations right before you start dumping all this money in or else it’s just a cash grab and nothing’s going to happen. [00:06:38][21.0]

Stuart Turley: [00:06:39] Personally, I think it’s a cash grab, but we’ll leave that alone. Okay. Let’s go to the next one here, Michael. And it is from our fans, our buddies over there at Cowboy State Daily. Please follow them. They are phenomenal folks up there. Any battery will require so much energy. It needs a coal plant to power it. [00:06:59][20.6]

Michael Tanner: [00:07:03] These articles write these headlines, write themselves. [00:07:05][2.0]

Stuart Turley: [00:07:06] Oh, yeah. It’s a for Michael, it is a 4 billion Panasonic electric vehicle battery in DeSoto, Kansas, will help satisfy the Biden administration to get everybody on TV. But it’s using a coal fired plant. I’ve been by this plant and it is old and dirty. Yes, it does need to be shut down. A £15 lithium ion battery holds the same amount of energy as a pound of oil. [00:07:37][30.8]

Michael Tanner: [00:07:37] Yeah, that’s. Yeah, I’ll take the pound of oil. I love how they have to point out that. Remember Panasonic set to receive 6.8 million from the Information Production Act. [00:07:47][10.2]

Stuart Turley: [00:07:48] This is just energy hypocrisy at its finest. I love the cowboy state daily when they put lipstick on a pig is the next title in this area. [00:07:58][10.3]

Michael Tanner: [00:07:59] Bothers me is that the reason this evil factory is causing such a spike in the energy consumption that they have to now delay the transition from coal to natural gas because they need the power. Now, this is an example of shooting yourselves in the foot in order to not worry about the pain that’s going on in your right foot, which was just run over by a car. [00:08:19][20.4]

Stuart Turley: [00:08:20] Right. So would you say that Kansas is basically pulling a Dick Cheney on the citizens there and they just shot themselves in the foot and the splatter? Got everybody in Kansas City. Is that. [00:08:31][11.2]

Michael Tanner: [00:08:31] A fuck it in the drive through again, Suck it. [00:08:33][1.9]

Stuart Turley: [00:08:33] In the drive thru. They took one in the team for their foot. Okay, let’s go to the next one here. Did I want your opinion on this? The trader that sparked the surge in US oil? Oh Deb, the Atlantic Trading and Marketing Corp Company appears to be taking advantage of the high refining margins created by tight supply and strong demand for fuel. [00:09:00][27.0]

Michael Tanner: [00:09:01] Yeah, according to these unnamed sources, do Atlantic trading and marketing is the trading arm of French super. Nader thought that in our jazz and then been gobbling up crude oil in this basically at this push because of this strong demand and what we would call this large crack spread between what refined products trade for and the actual underlying physical commodity. And they’ve been doing so since last November. [00:09:28][27.4]

Stuart Turley: [00:09:30] Now, this is let’s add this squirrel to this mix, and that is Russia has banned all diesel and refined products that is going to make this even more valuable. And the energy hypocrisy, climate change hypocrisy is now being brought out on totally energy because they are absolutely gearing up to help take advantage of that. Did you just try to shoot yourself in the in the face? [00:09:59][29.4]

Michael Tanner: [00:10:00] I was giving a wee wee wee wee. [00:10:01][1.8]

Stuart Turley: [00:10:02] Okay. I was like in that or you were doing the evil guy with Mike Myers on $5 million. [00:10:08][6.4]

Michael Tanner: [00:10:10] But how much money they’re making on driving up crude. Oil prices. [00:10:14][4.0]

Stuart Turley: [00:10:15] Oh, yeah. You got to love it. Hey, let’s go to the next one here. The new face of nuclear energy is Miss America. I think this is actually really cool. I got to give a shout out to our team over there at Paco’s operating and podcast host of The Crude Truths. Grace Stanky. Celebrate your birthday with a visit to the Georgian nuclear power plant that she is Miss America. And it is really cool because she got all of her. She’s got a job after her tour this year with a nuclear group and it’s going to be Constellation Energy. [00:10:58][42.4]

Michael Tanner: [00:10:58] Interesting. What are we going to do? It’s a mix of technical work as a nuclear fuels Energy introduces a new fuels engineer. Are we sure about that? I think nuclear engineering, Stu. Okay, good. [00:11:11][12.9]

Stuart Turley: [00:11:11] I got to since we did, you know, the stuff on it. She’s smart. She is smart. And I’ll tell you what, she would make it better. What was the guy that was stealing clothes and nuclear waste in the Biden administration? Oh, what, Sam, was it he. [00:11:30][19.1]

Michael Tanner: [00:11:31] I don’t know. But the guy that was stealing people’s clothes is like going to airports and stealing his luggage. [00:11:36][4.9]

Stuart Turley: [00:11:36] She’d make a better one there. I guarantee you she wouldn’t be stealing luggage, so. [00:11:40][3.8]

Michael Tanner: [00:11:41] Well, I’m sure. I mean, if we had more nuclear engineering students and we I mean, what’s interesting is that probably what we need to do is begin to push people getting into stuff like nuclear energy. There’s not enough of them. If we really don’t push this stuff, we need an educational push right now. [00:11:58][17.4]

Stuart Turley: [00:11:58] Right now, I’m communicating with her scheduling department to get her on the Energy News Beat podcast. So there’s a little plug for what’s coming around the corner then. No, you bet. All right. And let’s go to the last one here. Federal judge orders the Biden administration to expand the Gulf of Mexico oil auction. I’m not sure who picked this picture, but it looks like a diaper down there. Biden is all grump down on her. So the Louisiana based judge concluded that the Interior Department probably moved wrongly at the 11th hour to yank roughly 6 million acres off the auction block. Whoa. Ocean. The Department of the Interior, Department of Bureau of Ocean Energy Management. Boy, that sounds like a rat cave. What do you want to call that one? Bureaucracy. Yeah. [00:12:57][58.9]

Michael Tanner: [00:12:59] Yeah, it’s. Yeah. Good. [00:13:01][1.9]

Stuart Turley: [00:13:01] No, not. Not good. Rats get lost in there, and then they have to finally come out. Never mind. Okay. The decision is a win for Louisiana, which it argued it stood to lose as much as 2.2 million in royalties. Follow the money. Louisiana is not done. You know. [00:13:23][21.5]

Michael Tanner: [00:13:23] It’s. How else do these counties make money if you have oil in your county? The way I mean, there’s a reason why Midland we could get into it for a year. We could. We could go down this rabbit hole. But I think it’s it’s crazy that people don’t think of second order effects. Why do all of the people who live around oil and gas love oil and gas? Well, I don’t know. Because of the amount of economic stability and uplift it brings to the region. I don’t know. Maybe, you know, it’s you know, it’s I was one of the people like, well, most people in. [00:13:56][32.9]

Stuart Turley: [00:13:56] Need in Louisiana. [00:13:57][0.4]

Michael Tanner: [00:13:57] I’m like, I don’t know. They’re great places to live. [00:13:59][2.2]

Stuart Turley: [00:14:00] Now, Michael, you have to remember in Louisiana is also home to the Haynesville, the that oil field. I mean, the oil and gas field that we have Cheniere coming out of all of that natural gas going to Cheniere and then being exported out. You know how much money the U.S. government is making out of the Haynesville and Louisiana. [00:14:22][21.6]

Michael Tanner: [00:14:23] Now, in the grand scheme of things, $2.2 million is really not that much considering the amount of debt we’re in. The problem is this is just the money to Louisiana about the supply of oil. We’re already in a point where we are going to be under supply. What is the one few things that an American oil company can do that can move the needle realistically in terms of oil production offshore? There’s not much onshore that’s going to really move the needle. I mean, outside of ExxonMobil saying we’re going to double our Permian spending, you know, Chevron and Pioneer all coming out saying we’re all going to double our capital expenditure in the Permian. Okay. That maybe moves the needle. What does move the needle? You know, a $2 billion CapEx spent drilling 4 to 5 wells out in Louisiana, out in the offshore that’s. 150,000 barrels a day. Now you start seeing the needle get moved and you start seeing that gap closing. So while yes, $2.2 million, the counterargument is that’s not that much. And look, they’re saving the whales. We know where I stand on the whales. Kill them all. But what I do stand for is if we’re if you’re actually talking about lowering oil prices, you’ve got to put more supply in this basic economics. So I think this is a short term war. Looks good for the administration. They strike this down, but in the long run, it’s going to kill them. You know, this this judge overruled. It’ll be interesting to see if it actually takes place. This auction is supposed to take place on the 27th. So on Wednesday, it’ll be interesting to see if that actually goes through. [00:15:56][93.1]

Stuart Turley: [00:15:56] Hey, let me do a little bit of a shout out. When you’re doing a you’re going to be killing the whales in the Gulf of Mexico. A It’s not a major thoroughfare for whales. B The sounding and all of the geo work that has to be done with oil and gas rigs is nothing like what has to be done in the wind and offshore wind on the East Coast. And that’s a major contributor to the dead whales that you so aptly want to drop in and kill all the whales. And then I want to go ahead and drop them in the White House lawn. I think that would be great. [00:16:37][40.4]

Michael Tanner: [00:16:39] Oh, that’s a that’s a great way to leave it. Let’s let’s quickly look at what happened in the oil and gas markets on Friday. We did see the overall markets drop about a quarter of a percentage point for the S&P 500. NASDAQ finished fairly flat. Again, fallout from the the chairman panels and the Federal Reserve’s decision to hold interest rates where they’re at. The reason why I think a lot of this sentiment, Stu, is is still much more sour is due to the fact that rates are going to be like that for a while. Know, we saw oil prices rise and we’re still sitting at 93, but our XO contract last week actually dropped about two and a half percentage points. That’s interesting. Oil above 90 or aggregate XLP, which is our average upstream oil and gas contract dropped. Why would companies struggle in a higher oil price environment? Well, a couple reasons. One, all the cash flow they’re getting, they’re having to return to investors, whether it’s dividends, whether it’s stock buybacks. And very and and very little of it is going back into drilling. Why do I know that rig counts dropped on Friday? Again, we dropped 11 rigs. Oil price up 20% over the last three months. Oil rig counts dropped by over 40 again last week. We’re now down another 11 630 from previous year to year. We’re down 134 rigs. Goes back to my arguing about supply stoop. There is just not enough supply coming on the market. But what’s happening? People are going to start oil companies to start making more money. They’re going to start returning money to shareholders. Why is there just push to return money to shareholders? Because the banks and the investments have left it. We never you know, yes, people like to say it was ESG that drove all of the investment out of oil and gas. I take the counter or I take the fact that between 2012 and 2017, nobody bass, nobody returned a dime to these banks, billions of dollars lit on. They are trying to drill thousands of wells that were unproductive. All of these large block, you know, these double premium locations, and most of them aren’t real. So it’s interesting from the standpoint of we’re seeing we saw oil prices rise. What should be a great move for MP comes yet their stock price fell. You saw it in rig count. It’s going to be interesting to see what goes forward if that investment mood doesn’t change. And again, you’re seeing all of the ESG products begin to fail. But no one’s saying now we need to rush and spend more on oil. They’re just saying the ESG experiment is over. Why aren’t they also then saying all of this money is being brought back into oil and gas because they’re not dumb and they like money and they understand that, you know, no one’s got a thousand premium locations ready to drill. Trust me on that. You maybe got ten if you’re a large company, just going to go. And so, you know, again, to bring it all home, it’s really interesting, the circle with, you know, this pot that’s doing right now in the oil and gas business, too. And I don’t know what’s going to get. Something’s got to give. Rig counts got to give. Oil price has to jump to 140 to see this rig or, you know, what we see is the investments are going to something’s going to give here. [00:19:38][178.6]

Stuart Turley: [00:19:38] Let me ask this, because I believe it was Exxon that said they were going to double the production in their area in the Permian by reworking wells and going back in. I don’t think that they could do that. But what are your thought? [00:19:50][12.1]

Michael Tanner: [00:19:51] So I am not an expert in in reworks or what we would call fracturing. So the idea is there’s all these wells, horizontal wells drilled between 2010 and, let’s say 2017 that were drilled, which were completed horizontally with non modern completion techniques. Oh, yeah. The two biggest factors in what? Range A differentiates an old completion from a new completion is two things the amount of water you use and the amount of sand volume use. That’s really it. Yeah. There’s, you know, stages get larger, maybe we go out three miles and all, but let’s just talk about the two things that separate a modern completion, the amount of volume or the amount of water volume and amount of sand by. And let me tell you, you’re talking about a four times increase in both from, say, a pre 2017 to post 2017. So what does that know if you have a large inventory of, you know, horizontals that were drilled between 27, 2010 and 2017, you would on paper be like, oh, these are candidate to go in and re complete, let’s use a much higher sand volume, maybe let’s tighten up our spacing, you know, our, our, our staging our stages a little bit, squeeze a few more shots in per foot, but really just apply more water and apply more sand. So as the theory goes, you might be able to see an increase. The problem is not a lot of that data is public. It’s really hard to go into to determine whether or not from a from kind of an analyst standpoint. If you were to ask me, Michael, not having access to Exxon’s proprietary data, what’s their success on re fracturing? I don’t know, because I can’t tell you which wells they’ve refract or not. I could go maybe pore over all of their wells and say, was there a well, that was on a normal decline and then one month was shut in or one month had zero production or at some point deviated drastically to the upside from its new production lag. That is a rework and we could do that. The problem is the data is not public. So of course Exxon’s going to tell their investors, Oh yeah, we’re going to rework all these wells. Still, we’ve got a huge inventory of reworks we’re going to go through, give us all the money you can get. One practical standpoint, yeah, there’s something to that. But it’s almost like basically going in and trying to squeeze a lemon more is squeezed out a lot of it. The question is how much there is left that was left over from the original frac job, especially in the Permian, where you have really high permeability and really, really high properties. Yes, the frac up wasn’t as good, but you’ve still allowed in for ten years, sucked all the oil out of there. It’s not regenerated. You haven’t seen that much oil migration. So, yes, that is something that people are talking about. Personally, I’m skeptical of that and think it’s a wink wink, Oh, yeah, we got a lot of different locations. We got reworks. [00:22:30][158.9]

Stuart Turley: [00:22:30] Do let me ask this also, because in your oilfield service, companies like Liberty Frac and a couple of the other frac folks, if there is the reworking on those and you’re still going to get deals from Exxon, you’re going to get all these others, Liberty Frac might be a good investment as well. If you’re in there saying, hey, oilfield service fracking companies will still have volume even with a reduced rig count. Is that a fair statement? [00:22:58][27.6]

Michael Tanner: [00:22:59] Well, yes, because I think what you’re seeing is the DUC number come down. Companies are taking their ducks and turning them off like I’m not somebody that likes to invest in oilfield service because I think it’s too volatile and it’s too hard to classify. You know, there’s a lot of other things other than the price of oil that is going to affect an oilfield service company that you don’t really know about until after the fact. You know, you know a lot of stuff. I think if I was going to invest in an oilfield services company, I do like Liberty a lot. I tend to probably lean more Halliburton, Schlumberger, because if you have a more diverse product set, for example, but I think this reworks do is a fugazi. I’ve never met a guy that works at a service company who doesn’t think you should frack with more water, more sand do. It’s like asking me. It’s like asking you, Hey, what should I do to increase my thought leadership? And you’re just going to pound into their head? More podcasts. More podcasts, more podcasts. Someone who has a podcast, they come to you for advice. You’re just going to say, do more episode that now that that’s a bad thing. But you know, guys, no. One thing, you know, when you got a hammer, everything looks like a nail. So if you’re sitting, if you’re getting convinced by a service company to a roof rack, of course they want you to refraction. Oh. [00:24:02][63.2]

Stuart Turley: [00:24:03] I loved your analogies there, Michael. That was really cool. Everything with you got a hammer. Everything looks like a nail. I’m going to go with you on that. [00:24:10][7.4]

Michael Tanner: [00:24:11] You struggle with this on a daily basis. So I you know, you know, I’ll give you one example real quick before just to hammer this home. I struggle with this all the time. I have over the past two years become fairly fluent with Python. And once you do that, it’s a very valuable tool to have in your skill set. A lot of different things open up from an efficiency standpoint, from how it integrates actually with, you know, being in finance, how you, without knowing a little bit of scripting coding can actually really increase your financial capabilities and your, you know, your analysts, what you’re able to analyze the frequency, the amount of data set, what you’re able to do, how you’re able to set things up. But what I’ve noticed is I found myself using Python to accomplish tasks that take me longer and Python and I otherwise would have just used Excel because I can just do a pivot table. And the problem is when you get good at something, you think it’s the only way to solve every problem. Always have to take a step back and say, What’s this? The quickest and simplest way to achieve the best outcome? Maybe it’s reworking a few wells, but I guarantee it’s not. Reworking every single wells do, because not every single well is going to call for that. But if that’s your plan to. Increase production. Sure, you’re going to run through a lot of different wells, may or may not work. So trust me, it’s something that I struggle with personally every day and have to fight the daily struggle of hitting everything with, quote unquote, the hammer that I’ve got. [00:25:26][74.9]

Stuart Turley: [00:25:27] This is going to open up about four or five other discussions we’ll talk about on a later show on how you evaluate wells for rework or that because that’s some pretty cool stuff. [00:25:37][10.1]

Michael Tanner: [00:25:37] He answers. Don’t you go drill the new well but we can, you know, if we sell a course on it. I gave you the answer to the course right now. I’m just kidding. I’m not an expert in that. I’m just much like I’m a skeptic about 1000. You know, all these M&A deals. We joke about the number of premium locations or high quality locations. I take the same mindset to these rework Exxon’s tell me they’ve got 10,000. We were cannot divide that number by a thousand maybe there’s a hundred rework candidate so I’m on one today still I’m like. [00:26:07][29.8]

Stuart Turley: [00:26:08] Oh I had to do is poke the bear every once in a while and I this was great fun Michael. [00:26:12][4.3]

Michael Tanner: [00:26:13] I want you people be scared about next week’s do. [00:26:16][2.7]

Stuart Turley: [00:26:17] Oh, the government. But hey, we’re going to have a great week next week. Get lots of good stories coming around the corner. There’s some more international news coming around the corner from Sorry, you got to love them. [00:26:29][12.4]

Michael Tanner: [00:26:30] Yeah, well, we will be anxiously awaiting our BRICS membership. We’ve officially applied. They’ve got our application. We’re trying to throw in a sponsorship, so we’ll see if they go for that. We try to get little money out of them. [00:26:40][10.1]

Stuart Turley: [00:26:40] We’ll see. I think once they hear my Putin imitation, they will. [00:26:43][3.3]

Michael Tanner: [00:26:44] Pay my guys well. With that, I hope you have a great week. It’s Monday. Hopefully there’s not that many meetings. We will keep you on out of here, guys. Stay for Stuart Turley, I’m Michael Tanner. Thanks for checking out the energy news beat podcast. We’ll see you tomorrow, guys. [00:26:44][0.0][1550.3]

 

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The post Daily Energy Standup Episode #215 – Navigating the Energyscape: From Grid Reforms to EV Batteries and Oil Prices appeared first on Energy News Beat.

  


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