Biden Eyes Drilling Ban

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Highlights of the Podcast

00:00 – Intro

02:08 – German purchases of Russian uranium surge

03:55 – German MP calls for NordStream to be reactivated

07:38 – The Political Consequences Of Ukraine’s Decision To Cut Off Russian Gas To Europe

09:14 – Biden Poised To Announce Offshore Drilling Ban To Appease Green Lobby

11:33 – NY’s Fracking Ban Ignores $1 Trillion In Gas Reserves, While Green Hysteria Stifles State’s Economy

17:45 – Markets Update

20:25 – Signs of Optimism in Oil Markets as a New Year Begins

27:46 – Natural Gas Pipeline Capacity Ramping Up In Texas

30:18 – Outro

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

Michael Tanner: [00:00:11] What’s going on, everybody? Welcome into the Monday, January 6th, 2025, edition of the Daily Energy News. Beat Standup. We made it to another year. Folks, we are so glad to have you. As always. I am joined by Stuart Turley. I am Michael Tanner. Holy smokes. Do we made I feel like I’ve been off for two months now. It’s like. [00:00:33][22.7]

Stuart Turley: [00:00:35] The news cycle has been just nuts. I want to give a shout out to our team for putting together the numbers for last year. Michael, congratulations. You had a heck of a year on this podcast. It was nuts. [00:00:47][12.7]

Michael Tanner: [00:00:48] We we had a really crazy year. If you guys are interested in partnering up with us and want to take a look at our media, feel free to reach out to us via the email listed below. But man, it’s it was a great 2024 and we have awesome, awesome things planned for 2025. But without further ado, Stu, let’s go ahead and dive on in. First article here. Here’s kind of a rundown for the show. German purchases of Russian uranium. Serge yeah. Six German MP calls for Nord Stream to be reactivated. Seems three years too late on that one. Political consequences of Ukraine’s decision to cut off Russian gas to Europe. Biden then poised to announce offshore drilling ban to appease green lobby. Yeah that Alaska whole 12 days on that one. Next up, New York’s fracking ban ignores 1 trillion in gas reserves, while green hysteria stifles the state economy. Stupid and cause room. I will quickly cover what’s happened in the oil and gas markets, mainly this kind of last two week boom in oil prices, which has been awesome. We’ll cover signs of optimism in the oil markets as the new year begins trickle in. A little bit of our 2025 predictions, and then we’ll finish up with natural gas pipeline capacity ramping up in Texas. This is a key one. If you’re if you’re an operator out there specifically working in the Permian Basin. Like I said, as always, I am Michael Tanner, joined by Stuart Turley. Where do we want to begin? [00:02:08][80.0]

Stuart Turley: [00:02:08] Let’s start with our buddies over there in Germany, where you and I have had a laugh with Sergeant Schultz. I mean, Chancellor Schultz. [00:02:15][6.9]

Michael Tanner: [00:02:16] I see nothing. [00:02:16][0.5]

Stuart Turley: [00:02:17] I see nothing he is begged for. Let me start with this. You go green energy policies, you go fiscally broke. Regimes change if you don’t get low cost natural gas. Back in Germany, purchases of Russian uranium surge. The side note to this, Michael, is Germany shut down all of their nuclear reactors and they have not failed to turn them back on yet, but they’re already buying uranium. What happens when people don’t have low cost energy? Regimes change. Germany dramatically increased its uranium imports in 2024, bringing in 68.8 tons, a 70% jump in increase. Considering their reactors are shut down, do you see them applying to get them turned back on here pretty quick? [00:03:13][55.8]

Michael Tanner: [00:03:14] Well, they’re going to they’re going to need to because if you’re talking about this, the whole critical minerals space and we’ll we’ll talk a little bit more in the transition about some critical minerals stuff that we’re dropping on our Substack is a little bit of a tease there. But if if you’re going to move to a nuclear era, if that’s what needs to happen, this stuff is critical. And if if all of a sudden now you’re you go from, well, we can’t import natural gas from Russia. But now we need to increase uranium. It’s like, well, what do you. It’s the same thing. There’s no difference. [00:03:49][35.9]

Stuart Turley: [00:03:50] So anyway, I got really tickled. And when I had talked about this before. Let’s go to the next story. Michael German MP. The minister calls for Nord Stream to be reactivated. This is following last week’s rumors that the from the Slovak president Michael said, by the way, this is being set up for a U. S company to buy the Nord Stream. For our listeners who don’t know what Nord Stream is, Nord Stream is from Russia to Germany under the Baltic Sea that President Biden alluded to him, making sure that it would not be in service. Now, there is one of those pipelines still capable. I have talked to George Mcmillan about this, and Germany is really needing a low cost Russian natural gas in order to survive. They have been de industrialized. They’ve they’ve lost BASF, their fertilizer plant, They’ve lost their they’ve shut down their steel mills. They have shut down several of the VW. They have lost all this stuff. They are on the borderline of total. All collapse. Ukraine drives the energy price up further by stopping the transit of Russian natural gas pipeline in Europe, Dougan wrote X on Thursday, complaining the German government and the EU are happily watching the destruction of the European industry due to high energy prices. Michael This also brings up the interview that I did with George. We are seeing the potential destruction of NATO and the EU coming around out of this. This is huge. [00:05:40][109.6]

Michael Tanner: [00:05:41] This is huge. And my question to you is, how does Nord Stream fit in with the negotiations that are going to happen starting January 21st with the new administration? Where does Nord Stream fit in with all that? [00:05:53][12.2]

Stuart Turley: [00:05:53] Outstanding question, Michael. President Trump is sitting back over here going. The whole reason Biden and his interfering agent, three letter agencies that I don’t want to mention because it gets us thrown off of certain things. They’ve been interfering with governments and in elections. George Mcmillan has brought this great point out. If President Trump allows the purchase of a U.S. to end, let’s say the wars ended, Germany can buy that existing pipeline that is still there and they can turn it on immediately. They can get cheap Russian natural gas. But President Trump then would control how fast the other ones come on. So it’s still a geopolitical control issue that is at play. Holy smoke, bad man. And when you have President Trump saying, I want you to buy LNG for me or I’m going to tariff everything out of the E.U.. Holy smokes. This is a gigantic discussion and. [00:07:01][68.1]

Michael Tanner: [00:07:01] I love that. But do we have enough LNG export capacity to meet that demand? That’s what I think is interesting and not to give us off top, but, you know, everybody keeps asking me, you know, drill, baby, drill. What’s Trump going to do to oil prices? Well, in my opinion. And then we’ll get into a little bit easier than some of optimism for the oil business. But drill, baby, drill is code for deregulation. And deregulation really has more to do with pipelines and LNG export terminals than it does with drilling. We’ll get into a little bit more at sign of optimism. Let’s move to the next one. Do what do we have here on bass sticking in Ukraine, I guess? [00:07:37][35.5]

Stuart Turley: [00:07:38] Yeah. This isn’t that. This is. Yeah, I love Andrew on this one. Andrew Okay. Albacore is a study at a at a Russia and he sent me this article and he is a good dude. Russia in the EU will manage their latest phase of their US instigated divorce without much difficulty, but the U.S. might offer to bring them back together authorizing this Vessels Emporium Russian pipeline in exchange for some concessions from the Kremlin in the energy sector and Ukraine. This guy is a in Russia and he validates what you and I just were talking about, about the potential President Trump has the potential of having a finger on the EU energy. I did not have this on my crystal ball and it is validated in this article. [00:08:25][47.0]

Michael Tanner: [00:08:25] Yeah, it’s there’s so much political chicanery that’s going on within the whole within this conflict we’re seeing in the war between Russia and Ukraine that it really makes my head spin. I don’t know anything about it. I’ve really been enjoying your series with George Macmillan, trying to kind of piece and weave together what’s going on. [00:08:45][19.7]

Stuart Turley: [00:08:45] And when I’m recording with him, I’m recording and what takes two hours for us to record or another hour for me to prepare to record. The interview goes by in five minutes. So here is where I’m going to give a shout out for our Substack. I’m about to go to the next article, but if you want to go back and really dive in to those and watch those repeatedly, you’re going to need to be a paid subscriber on our substack because those are going, you know, they’re going to be behind the paywall after a while. All right. Let’s go to the next story. Biden Poised to Announce Offshore Drilling ban to Appease the Green Lobby. I’m talking to David Blackmon on Tuesday. On this one, he and I are going to do a deep dive on our podcast and we’re going to sit down and go over this. This is a double barreled middle finger from the president of the United States. Biden has stuck it to the American people. And this is going to be a painful thing for Trump to get undone. President Joe Biden is reportedly preparing to restrict offshore drilling, oil and gas drilling in his final days of office, a move that would placate the environmentalist lobby and potentially obstruct President elect Donald Trump’s plan to unleash the energy sector. Here’s where the Chevron deference does mean it’s okay, but we have a lot of judges and Obama and. And Biden judges that can delay this forever. And drill, baby, drill is not. Drill, baby, drill, drill, baby, drill is drill. When fiscally responsible and when the courts allow. That is a huge difference on this. And I find it totally despicable that the Biden administration handlers are doing this because we know that Biden is only trying to think of what his depends are full or if he’s having ice cream because it has nothing to do with the government. [00:10:41][115.2]

Michael Tanner: [00:10:41] And and to be clear, this is obviously only over federal land you’re talking about the coast is California and mainly Gulf of Mexico. And what I find interesting, though, Stu, here’s this quote from the article While many of the Biden administration’s energy policies will be relatively easy to reverse, the reportedly forthcoming offshore drilling typically will be permanent and difficult to revoke because it is enabled by a law that permits presidents to protect federal waters from drilling without clearly allowing them to walk back prior designations. And that’s all according to Bloomberg News. And so that’s the part that just boggles my mind. It’s easy to enact. The president has the authority to enact this law. But why then doesn’t he have the authority or the new president have the authority to roll the decree back? That’s what I don’t understand. [00:11:25][44.3]

Stuart Turley: [00:11:26] I don’t know. But I’m going to ask David Blackmon. And David and I are going to cover this. So this is just huge. This is absolutely very much like this next story. New York’s fracking ban ignores $1 trillion in gas reserves. While green hysteria stifles the state economy. You can’t buy stupid like Governor Hochul. Governor Hochul is absolutely leading New York down. The Germany, UK, New Jersey, New York and California. Fiscal failure. Governor Hochul, If you’re listen to this podcast, you’re more than welcome to come on and defend your stupidity. I mean your decision. New York Fracking ban ignores $1 trillion in untapped natural gas reserves, while politicized climate hysteria thwarts its economic growth. This is there right on the edge of the Marcellus up there. And when you sit back and take a look, they’ve even imported from Russia. Trinidad and Tobago are the main sources in the Boston Harbor for natural gas coming in. They won’t put in a new pipelines up there. And if we get rid of the Jones Act, which I’m trying to get President Trump to act on, if we could do that, we could ship low cost LNG in order to come around and drop it off in there and they wouldn’t have to drill. But you still have Governor Hochul getting rid of this and she is absolutely choking. And I said that intentionally as a pun chuckle. She’s choking the New York. If I was a oil and gas company, I would pull out of New York permanently. Have a great life, New York, go away. Because when her she signed the law that is the climate reparations bill last week, Michael she is going after it. Huge. [00:13:16][109.7]

Michael Tanner: [00:13:17] Yeah. No, absolutely. I mean, I personally think this is first off, there’s not much oil in New York, so great banning fracking in New York is like. [00:13:27][10.3]

Stuart Turley: [00:13:27] Banning the net for getting into. [00:13:28][1.3]

Michael Tanner: [00:13:29] Idaho. There’s not much there’s a little bit of Marcellus there, but it’s not much more. So if this if we were talking about Pennsylvania. But we know that, no, that’s not going to happen. Okay. Now, there is some you know, there is again, there is some in, you know, New York. I don’t want to say there’s none, but it’s always been difficult to go get. So it’s not like we’re restricting stuff, you know, restricting supply. But remember, this was you know, this was signed in 2014 by Cuomo, who basically effective effectively it banned these new natural gas pipelines, which, you know, we can we can get into we can get into in a bid when we talk about our oil predictions for 2025. But you know, it’s what’s funny is right next to you know, what’s funny is Pennsylvania sits next to New York. In Pennsylvania, the average price of electricity was 50% lower than in New York City. Why? Why is that? Why is that still natural gas? [00:14:24][55.1]

Stuart Turley: [00:14:24] Natural gas and coal? [00:14:25][0.9]

Michael Tanner: [00:14:27] Yeah, absolutely. [00:14:27][0.3]

Stuart Turley: [00:14:28] And they have less pollution because the amount of natural gas pipelines. [00:14:32][4.0]

Michael Tanner: [00:14:33] Yeah, absolutely. Absolutely. So I think I think obviously reversing this fracking ban is is is good. Do I think it really matters when it all says and done? No, I think when you’re talking about the offshore drilling ban that we covered in the last year, that is more precarious now. We’ll talk about that as it comes into our 2025 goals or 2025 prediction, because I think there’s some some very interesting stuff there. Let’s go ahead and jump over to the finance section. But before we do that, guys, we have to pay the bills. As always, thank you for checking us out here on the world’s greatest website. WWW.EnergyNewsBeat.com The best place for all your. Energy and oil and gas. Stu in 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. You can check out the description below for all the links to the timestamps, links to the articles, and also our vaunted Substack guys. Highly recommend going to the Energy News Beat substack.com and subscribing. It’s the best way to support the show if you are so inclined. Sign up for a paid subscription. We launched our first 2025 fully paid for article. Stu wrote a really great article specifically on the Jones Act and talking a little bit about some of the stuff that needs to happen from that standpoint where we’re working on trying to get a interesting guest to come on and specifically talk about the Jones Act specifically. We’ve got two more articles in the works right now. One, WIP is a white paper coauthored by yours truly myself, specifically talking about the critical minerals and some very interesting stuff that that we actually rolled out two years ago. We’re going to deep dive it a little bit more. Really, what it’s going to cover is, you know, given all of these different energy transition scenarios, we know the IEA, the the EIA, all of them have these different energy transition scenarios. By 2030, we need to have X number of of energy mix between coal, oil, natural gas, renewables, all this stuff. Well, given those different scenarios, we need to back into how much minerals we actually need. And I was part of a paper that actually broke that down and said, okay, given this clean energy transition scenario, we’re going to need X number of millions of pounds of aluminum, millions of pounds of all of these different critical minerals. So we’re going to release that probably next week at some point with all of our paid Substack subscribers. Then following up on that, I’ve then taken what we’ve done is we’ve then taken that model and said, okay, let’s apply a traditional capital asset pricing model to say, Hey, are there certain minerals that are going to be in big demand but that also have very little investment? And is there an arbitrage opportunity? And so this is all going to be rolling out in the next couple of weeks to our paid Substack subscribers. Highly recommend going and doing that. I’m really excited to kickstart kicking out these white papers, do a lot of stuff. I’m working on another white paper right now. Why IRR is a scam. One of my favorite topics everyone gets all caught up in. What’s the IRR of the project without asking other critical questions? And we’ll dive all into that. And a bag of chips, guys. You can also check us out obviously on Spotify, YouTube. Go ahead and give us a subscribe there. We appreciate everybody who’s done that. [00:17:45][192.3]

Michael Tanner: [00:17:45] But let’s go ahead, Stu, and jump over into finance section, guys. We want a quick run through of all the indices. S&P 500 on Friday was actually up 1.26 percentage points to end a pretty down week considering where things have gone or not. Maybe not a down week, but a down two weeks really since that beginning of Christmas here. Nasdaq was up 1.67 percentage points, which followed up a pretty big rebound over the last three days, having dropped tremendously to a ten year. Yields were up about one percentage points apiece. Bitcoin $98,000. So, you know, down a little bit from a $204,000 high, but kind of rebounded from a little bit of a lag from what we’ve seen. Brant Crude WTI was actually up about 1.1 percentage points on Friday. 7368 was actually above $74 for for most of that day, slightly dropped below that 74 mark. But we’ve been on a little mini bull run here for the last couple of weeks. Super interesting. I think there’s some stuff that you do there. Natural gas, you know, on the brink of snowpocalypse as rolling through the Midwest. Guess what, Stu? Down eight percentage points, which is pretty unbelievable. But it’s it’s. [00:18:51][65.7]

Stuart Turley: [00:18:51] 336 right now. [00:18:52][1.2]

Michael Tanner: [00:18:53] Yeah. So much for the $5 natural gas that everybody was predicting. But we will dive in a little bit to that more. You know, again, one of the one of the reasons why oil has kind of popped a little bit, you know, a little bit has to do with what’s going on specifically in Europe with the colder weather, because in Europe, you’re not necessarily using natural gas or using heating oil, which is a derivative of crude oil, meaning demand throughout this throughout this section is going to go up and on. You know, yes, Texas, a lot of the West Coast uses natural gas infrastructure to heat their homes. These coasts a little bit different. I mean, you’re talking about the northeast part of the United States. It’s a lot of heating oil, which is a derivative or a byproduct of oil, meaning that as it gets colder, we actually do see oil demand increase a little bit. We actually are seeing China drop a little bit. And and basically there’s hopes of further stimulus. We did see last week crude oil stockpiles did drop slightly over what analysts were expecting. So some of the some of the supply side mixed with a little bit. The demand side, I think has pushed prices up this week. And it’s going to be interesting to see where they go from here. We touch briefly on natural gas. Yeah, I mean, natural gas, you know, traded if you traded, if you’re, you know, if you’ve got to go on to do it because man, that’s a. Tough, tough market to call. You would have thought with with with where the weather is going this week, prices would have flopped again. A lot of what that a lot of the Northeast does use heating oil, which is again, is it is a derivative of crude oil. So it’s not quite mixed in there. I do think natural gas maybe a little bit a longer a play. But I want to jump over in here to Stuart, who signed is optimism in the oil market as a new year begins and our 2025 predictions. You know, obviously we started the year out strong from an oil price perspective. You know, if we go ahead and throw the U.S. oil production chart up here on the screen right here, you can kind of see where some of the forecasts are both over time from 2020 all the way to 2024. And then where you see them might roll out in the future. So, you know, first off, Stu, I want to give you a chance to jump in here and say, what’s your biggest 20, 25 prediction for the oil markets in 20? [00:20:58][125.3]

Stuart Turley: [00:20:59] I think we’re going to seriously head between 80 and 85, Mark. And I think people are telling me that I’m high and I don’t think so. I’ve got so many conversations going around. China is looking at putting in stimulus. If President Trump comes in and he gets he is the rhinos. I mean, excuse me, the Republicans in line and they actually start cutting the energy costs in half. You have Doug Burgum, you have Lee Zeldin. You have Chris, right. You have that team that I’m reaching out to them to try to talk to them as well. And that’s tough right now. But we’re going to try to offer them solutions if they can deliver. Cutting the energy costs in half, President Trump said, I want to cut the energy costs in half. That is a lot of natural gas. That’s a lot of traveling and it’s a lot of airline fuel being used. That is a lot of demand creation. But so goes the US, so goes the world. I think we’re going to see an end to the Ukraine war. I think we’re going to see some surviving. It’s going to be tough. And I think it’s I think the U.S. is going to be the one to survive. I think Germany and the U.K., the jury’s out. [00:22:08][69.8]

Michael Tanner: [00:22:09] So to Steelman, your argument of higher oil prices. I go back to the offshore drilling ban. Let’s say Biden does that. We go back to Article four here that that Biden is opposed to to ban new offshore drilling. Obviously, in the oil and gas business, we were always fighting the decline curve. Yeah, I tell people this when they ask about, man, we’re just going to drill, baby, drill and all this new oil is going to come on mine. And I say, Well, the question is, is is what actually moves the needle from an oil supply, a United States oil supply stamped new wells? Well, it’s not just new wells. I mean, you know, let’s take our let’s take our good friend Ray Trevino and then the team over there at Pecos country operating. They’re drilling tremendous wells, 30 barrels a day. Okay. Moving the needle. Now, it’s not just how much you in an investment standpoint, not how much you produce, it’s how much it costs to produce that oil. You pay for a dollar. And I gave you 30 barrels of oil a day. You’d be the rich. You’d be you’d be making a killing. So it all matters. There’s a there’s an investment standpoint I’m just talking about from a supply standpoint, what’s moves know 30 barrels of oil a day. Don’t move the needle a hundred barrels a day, don’t move the needle a thousand barrel a day. All horizontal well in the Permian doesn’t move the needle in offshore facility and an offshore drilling program does move the needle. And so if you do see this offshore drilling ban come into effect, you are really going to see the supply or, you know, you are going to see the future for gas, that supply drop a little bit. And I think we do see 80, $85 oil. Now, I’m going to take slightly the opposite. Look, I think the 60 to 70 range is what will average for the year. I think we’ll see spurts where we’re in between 70 and 75. But I do think relative to the things we’re seeing, I think we will see Nord Stream come back online. I think we’re going to see Europe figure out their energy issues. I think we’re going to, like you said, we’re going to see an end to the war in Ukraine. And I do think what we’re going to focus really on in America is the natural gas side. And my big prediction and I don’t want to say, you know, 2020 5th May be a little bit too soon. It’s probably at 2025 to 2027. But but something that I’ve told anybody who asked me is I think there are two big plays that are coming up with this. Let’s say this next four year administration is one, and you’re going to see LNG export terminals get built like gangbusters because really, in my opinion, drill, baby, drill is code for deregulation. And nobody in Texas is not drilling wells because of regulation. Regulation only touches federal land. And as we see with the offshore drilling, it’s tough to touch it. Now Biden looks to do it, but if it was easy to do, he’d do it now. The only reason he hasn’t done it now is because he knows it’s easy to overturn. So he’s trying to figure out a way to make sure it doesn’t get overturned. So if it was really that simple stroke of a pen, he would have done it with the assumption that the stroke of a pen can’t undo it. Now, where has regulation hurt or hurt large long term capital projects like refineries, like LNG export for facilities which require numerous permits from three letter agencies that you haven’t even heard of. You’re talking Nepa, lots of four letter agency. You’re talking the EPA, the all these. Front organizations. And, you know, form 28, nine and all of these differences, I mean, you’re talking, you know, 700 pages for one of these just reports. You got to go put headphones on a seal to make sure that the you know, we we saw that picture from from Elon and SpaceX. So what deregulation is going to do is be able to get those turned online faster because people will be able to do that. Now, what does that mean for pipelines? Because pipelines have so I’m long LNG export terminal, I’d be long Woodside. Now we don’t give financial advice here. Remember I’m an idiot. I don’t know what I’m talking about but I would be long Woodside, I would be long. Companies building new LNG export facilities and over the long term I do think we see that appreciation be priced into natural gas markets. Now on the other side though, people who have owned physical pipelines, I would be short. Why is that? Regulation has caused the natural monopoly. If you’ve owned the pipeline for the last five years, the government has basically said nobody else can enter your market. You have been basically the government has encircled you with a little bit of a regulation style monopoly saying, no, new pipelines can get built. So the value of already laid pipelines have gone through the roof. We’re going to talk about it a little bit in our next article. Now, with deregulation, I think you’re going to see pipelines get built faster than they’ve ever get built because people see they have a four year window to get their permits and people see they have a four year window to get these things built. And I think we’re going to see an explosion of pipelines. And I think you’re going to see pipeline companies hurt a little bit because their natural monopoly has been taken away. I go back to right before Christmas. What did equity do? They spun out their midstream component and created a joint venture with Blackstone. Why did they do that? In my opinion, they saw the natural monopoly crumbling and said we better monetize this asset at its highest valuation now when there’s no competition, so that and get our proceeds from it. They got about $3 billion at a $9 billion valuation because in five years, if we try to do this, it might be half the price, we might only get half the money, the valuation might be 4.5 billion. And so it’s all about timing and monetizing it the right point. So I think that was a, you know, a canary in the coal mine per se, of this is how midstream people who own physical midstream are talking about it. It’s going to be interesting to see. Now, obviously, the large pipeline companies have an in to build new pipeline. So I’m not saying that I think they’re necessarily going to suffer tremendously, but I do think you’re going to see a pullback in this natural monopoly of pipelines. Those are my two predictions. Do long LNG export terminals, short pipelines, existing pipelines would be an interesting spread trade right there. But I want to move over now into natural gas pipeline capacity ramping up in Texas. What a great what a great segway from what I just talked about. I love this little publisher’s notes do This is great for the US economy in the environment as natural gas is critical to export in oil and for electrical generation is often just flared as the pipeline capacity has been limited. Capturing stranded gas for bitcoin mining or localized electricity has been beneficial to pipelines are critical for long term growth and I love this part, positive environmental impact. So basically the the the summary is there is so much natural gas being stranded in the Permian Basin that new pipelines being built by these midstream companies is going to be critical in order to help it keep in increasing production. Because remember, when you produce oil, you get natural gas as a byproduct. You know, there are some people that drill dry gas wells. We do that out in East Texas. You get up in the Marcellus, but in in the Permian Basin, what, natural gas sucks. You’d love no natural gas, but you do get some of it. And the other issue is we’ve been seeing these oil wells in the Permian get gas here and gas here. As we move as we move on, that’s, you know, part of lowering the bubble point. All that jazz. We don’t need to get into some engineering stuff. So new pipelines are going to be critical. And I love this quote here. Natural gas egress out of the Permian has been a bottleneck as production growth has outpaced pipeline capacity additions. With natural gas production continuing to grow even more. Pipeline capacity will needed to be will be needed out of the Permian in the second half of 2024. Two new pipelines and pipeline and pipeline where pipeline expansion projects were approved. That will basically be online by 2026. So here we go. Here we go. And we’re starting to see new final investment decisions come around for all of these different pipelines. So again, guys, this is you know, again, if you if you go to the article here, you can see the new different pipelines, the existing pipelines, and you can also see the new pipelines approved announced and and in in production right now. So I think, again, new pipelines are going to be great for the business. If you’re looking at an industry that could possibly shrink a little bit, it probably is existing pipeline producers. What say you still? I think you’re on mute, my friend. We didn’t hear anything. You said I. [00:29:56][466.8]

Stuart Turley: [00:29:56] Was coughing, so I put it on mute and I forgot. No, I just you know, it’s kind of funny. I said, I just agree with everything you said, which is extremely rare. [00:30:03][7.3]

Michael Tanner: [00:30:04] Very, extremely, extremely rare. So I did very good. May not be good if we agree, because that means if you think it’s good, what else Do anything else? People should be worried. What should people be worried about in 2025? I ask, What should we be worried about for the week since it’s our first show, the New Year? What should people be worried about for 2025? [00:30:20][15.9]

Stuart Turley: [00:30:21] I’ll tell you what, I’m excited about the new administration coming in. I think that you’ve got to keep your head on the shoulder, just like look at New York City and the defending of the police up there. We had so many accidents. You can’t even ride the dang train. You know, the subway up there. There is Tony Seger on eggs put out that he is calculated between geofencing that the Biden administration has let in 32.4 million illegal aliens into the country. How many of those are good people wanting a new life versus how many were cartel members? That is your guess. But when you sit back and take a look, keep your head on a swivel. No, that a God has this and we are off to the races for a better year. [00:31:12][51.0]

Michael Tanner: [00:31:12] Yes, absolutely. Love that, guys. Well, with that, we will let you get out of here, Start your week and start your year off right by everybody coming back from vacation. We appreciate you guys checking this out here on the world’s greatest podcast for Stuart Hurley, I’m Michael Tanner. We’ll see you tomorrow. [00:31:12][0.0][1843.2]

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