Big Digital Energy

0:18 Hey digital wildcatters welcome to another exciting episode of BDE big digital energy here with my solo partner in crime Kirk Coburn. Wow I have a lot you know huge shoulders to climb board and

0:32 I got a visual we don't need to get there.

0:36 I know you've been in Nantuck it all summer so how was it up there it's great it was hot it was 80 degree it got up to 80 degrees and people were like I'm dying but I spent this weekend in Houston and

0:48 it is hot I mean it's so different so glad to be back glad to be indoors yeah it's good to be here so I took the kids to Rome we were there I saw that that was amazing it was great it was cool being a

1:03 tourist and all they don't have the air conditioning infrastructure that it was just miserable because you get a restaurant They'd say inside or outside you go inside you get in there. It's it's

1:13 hotter hot Yeah. It's probably hotter 'cause there's no airflow, right? Yeah, and they're sitting there telling you, no, we got it blasting.

1:20 It's just air. There's a blowing air. There's no air conditioning. They're just blowing air. That being said, Friday night, Saturday night, back-to-back Thomas Rhett concert, so this weekend.

1:31 Really? He's epic. So you went back-to-back? Back-to-back, so Friday he was in town, I took daughter Sarah, 'cause she's the one kid that hadn't met him yet See, I just dropped in that name.

1:44 You never dropped right there? What a baller. Yeah, exactly. So,

1:49 anyway, took him to the show, or took Sarah to the show, she got to meet him. He is such a girl dad. Really? You know, he's got four girls, immediately walks up, and Tom's right, Sarah Yates,

2:01 immediately hugging her. How are you doing, sweetie? You know, just total girl dad. What a performer, I love it. Best guy on the planet. And then me and the girlfriend drove to Austin and saw

2:10 him Saturday night in Austin, which was a lot of fun. And which show was better?

2:15 He brought it both nights. Okay. He brought it, he brought it both nights. Where do you play in Austin? What was the venue? Moody Center. Okay. Where the Texas basketball team plays on campus.

2:26 That's pretty good. Yeah, that was, it was really cool. The, so the interesting thing is

2:35 Thomas Rutz, day-to-day manager is a British guy named Harry. Great dude, all this. So he's kind of the babysitter, right? You know, you go backstage, Harry's kind of in charge of you. And so

2:47 Harry and the girlfriend, of course, both being British, are talking shop all night. Did they speak in an accent that you couldn't pick up? An accent, they said, you know, words that don't

2:57 exist. Words that don't exist. Yes. I had no idea. Plus they were talking about places I didn't even know existed on the planet. So they do that, and then TR shows up and anyway, we go watch a

3:08 little - You call him

3:11 TR? not to his face. Okay, just check him.

3:18 I think that's what everybody calls in TR. Got it. And then we went and watched some Cole Swindell together. So I'd say to all this. And so anyway, I have Harry and Thomas Rhett there 'cause the

3:26 girlfriend ran off to the bathroom or something and I go, all right, what do you guys think? And Thomas Rhett's like, oh, she's so cool. This is great, blah, blah, blah. Harry's like, I'm

3:34 more afraid for her.

3:37 I would, we all are. I think we've tried to talk to you about that. Yes, I know. Fair enough

3:45 It's all good.

3:48 It's not informed. Or she is informed, I guess. Actually, she's spent enough time to know by now. Yes, exactly. Yeah. Exactly. All right. So what happened in the last week, number one, oil,

3:60 we hit 83. I think it's at 82 right now. I think I will play Mark. Or do you want to play Mark? And you play Mark because clearly I can't do that. Oh, dude.

4:12 I mean, where is Mark? We need to - I don't know. I don't either. Do we need to set a reminder on his phone? I think he's getting older, maybe early set, Alzheimer's coming in, we don't know,

4:24 but I think you forgot today. I think you forgot. We miss you, Mark. We do miss you. I will try to be grumpy and analytical. So, oilhead 83, we saw the easing of recession fears that's

4:37 happened, big freakin' draw. Although Mark wouldn't have said freaking It would never say freaking, it's not as - Yeah, that's true, it's repertoire. 15 million barrels last week. And it really

4:47 looks like the Saudis and the Russians taking their barrels off the market are starting to show up in inventory, so it's starting to get real. So, we saw 83 dollar oil. What say you, Kirk? I

4:58 mean, what did we say last week? Did we predict a week ahead oil prices or was that for September? I forget what we were saying. I was saying we were gonna be sluggish until the winter a cold snap,

5:12 that's when we'd see the pop. I think these are just little dips. I mean, I'm glad to see 83. I mean, that doesn't surprise me, but there's nothing, I mean, it's more to the same as far as I'm

5:22 concerned. Yeah, it's kind of bouncing around. I think with what people never understand is, you don't budget based on a 10-day run in all parts. Ever. You know, I mean, you've got to have,

5:35 you've got to have a three-year view. At a minimum. Yeah, exactly I mean, in the Shell Revolution, you at least get your money back. If you drill a good enough well, kind of a year and a half

5:46 or so-ish. But you've got to have a good view on that. But if the future, as someone was laughing with me yesterday, if the future of oil and gas is going to move to deep water, all these Shell

5:56 guys are like, Man, we only, all of the engineers from telling me like, we only know Shell. What happens if we get repurposed to deep water? Which these projects are a minimum 25 years, maybe

6:07 more they're not there they're not looking at 10-day oil prices. They're looking at long-term oil prices. Yeah, I did do one thing. So I was on the Richardson Bar website and I was pulling it up

6:20 looking at where oil price was this morning and it was flirting around 82. But this was kind of an interesting stat I'll throw at you and get your take on it. And you can tell me whether this is

6:31 intuitive to you or maybe it's kind of surprising. When you look at the stock price return over the last year, and then we're going to look over the last month. So with the majors, over the last

6:46 year, they're up a little over 17. Over the last month, they're up about 4.

6:53 Large caps are up over the last year, just above 13. But over

7:00 the last month, they've been up just over 12. And then it's even more magnified when you look at the small caps over the last year,

7:11 7, but over the last month, they've been up just over 12. I mean, almost seems that the smaller the company is tracking real oil prices. I mean, the big guys, you know, they're involved in so

7:23 many other things besides just oil. Yeah. But even the large caps, the smaller caps, they just do one thing. And so almost oil prices are being shown through the small and large caps versus the

7:34 majors. It seems that way Yeah, no, and it still just baffles me. And I've said this my whole career. Why are they trading on the basis of current month oil prices as opposed to maybe a three or

7:47 a five year strip? Wait a minute Chuck, I was taught in business school that these are based on expectations. But when I always ask the question, well, who are you talking about? And they're

7:58 like, well, the market. Well, who's the market? Yeah. I've never been able to figure out who that person is. And I'm trying to find the market And if you find that person, let me know. And

8:09 what Josh Young, who's over at Bison will say, 'cause he kind of said this when he came on the podcast about three or four weeks ago, the market for smaller oil and gas companies, incredibly

8:22 unsophisticated, not very institutional, retail and nature, and thus his outperformances, he just studies it more than the average investor. And there's probably some truth to that. I've always

8:34 been an efficient market guy and the price is right and all, but you know, if you have somebody really smart, focused on something that can't be held by a lot of institutions, 'cause of ESG

8:45 reasons and all that, okay. I was starting to buy that while we were talking. You know, I was with an executive of a small cap over the weekend and he said a few interesting comments. One, he

8:55 says, The job here is pretty cush.

9:00 So if you're publicly traded but in your small, the job is cushy and we're gonna get to that later because it's interesting what's happening. with recruitment.

9:11 So they're paying more and more to keep. Whoever is in the job now, they're being paid more and more to keep good talent. But secondly, he said, as a small cap, he's like, you've always gotta

9:20 be looking over your shoulder 'cause we could get sold tomorrow and be out of a job. So it was like, interesting. You're getting paid well, jobs cushy, but you could be out of a job tomorrow.

9:32 Everybody says oil and gas, CEOs are so stupid I have always said they are the most sophisticated energy investors on the planet. They take cash every year in salary and bonus. Absolutely. They

9:44 only take of None. exposure equity 'em are cutting checks for to buy in the company, and they options always reprice their options it play should. And you way the That's. planet the on investors

9:45 best the they're, Exactly. to have You? know you, downside the at

9:59 I was reading about how all these corporate corporations are trying

10:04 to downsize or cut their jet programs If you're an oil and gas. you have to keep the jet because you sell the jet fuel, right? So you can't cut your own jet program. Well, we've got, it's more

10:13 economic to get to the field in the middle of the buck and we've got to fly in over time. And for safety reasons, you should, you know, the CEOs have to fly, even when they're flying for family

10:23 reasons, they have to fly on the jet. I love that. One of the single greatest jet stories in EMP world is natural gas partners does the Mesa deal where they recapitalize and they kick Boone Pickens

10:38 out and all. And so this deal all gets done and Boone goes away in about, I don't know, three or six months later, Boone pops up and says, You guys owe me five million for some reason, and

10:51 pissed Ken Hirsch off. Ken is just like, Groom, Boone, what the hell? That's BS, that's not the way you read it. So the way Ken Hirsch countered it was, Hey Boone, you had said these jets

11:04 were so important to Mason. You had said there were 10 million. We'll just give you the jets and fulfill that 5 million thing we owe you. How's that boons? Like, no, I'll take the cash. Yeah,

11:15 no doubt. Yeah, anyway, that's great. All right, story two, just to prove that the world has been listening to BDE. And for a while there, we were doing a really good job of breaking down the

11:30 different countries in Europe, the backdrop story there. I know everybody's heard this, but we'll say it again real quick, the girlfriend's European She has chided us somewhat for treating Europe

11:40 as a uniblock. And so for about 10 to 12 weeks there, we took a different country, we broke it down, their energy profiles. Right. And I think one thing that stood out to us that we didn't

11:51 appreciate, or at least for me, is France and their nuclear power was in effect a battery for Europe. Absolutely. They were exporting power even across the ship channel to England all over the

12:05 place. this summer and we miss this story, I just saw it this weekend, but this summer, France passed a pro-nuclear bill. It speeds up construction of more nukes, which have previously been off

12:18 the table. It got rid of the 50

12:22 cap on nuclear power that was their target. And remember we reported on that? They're currently at 75, 80 nuke power of their power usage They were trying to get to 50 off the table now. And it

12:36 strengthened the penalty for those illegally entering a nuke plant. So you get a jail now for two years if you're one of those idiot protesters that jumps the fence. I mean, it's interesting. I,

12:46 you know, France has never been known as like a leader in terms

12:52 of energy policy for the rest of period. Let's be real.

12:56 However, I think this is going to set a trend because what we're seeing is economics are starting to play back into common sense into the market. So we're seeing We're seeing France say, hey,

13:07 we're going to remove that 50 cap. We're going to speed up nuke development, which is interesting. And maybe the rest of Europe will take note. Because if France - if that actually drops the price

13:22 of energy for the French citizens, what are the rest of the nations around them going to do? Well, it's twofold. It's one, it's economics, but it's also dispatchable power. You know, it's

13:35 reliable Absolutely. And there's got to at least be a portion of a recognition in there that, hey, guys, we can't run a manufacturing business if the wind doesn't blow. Absolutely. I think it's

13:47 great. And this is really interesting to watch. Yeah. No, I think so too. And what we ought to do is figure out Germany's reaction to it because they're the ones that are the most right. That's

13:58 who matters the most. Yeah. Gone the opposite way irony of all irony, if somehow France doing this an experience. supporting base load power to Germany, allows them not to lose all their

14:10 manufacturing, like we talked about last week, how - Right. This is gonna fall out, and then the Germans get all high in mighty about their renewals. I mean, you know, I've spent some time

14:21 looking at the hydrogen business, as I've got to start up in that space. What I'm finding interesting is Germany is sort of the, like if you want to sell clean hydrogen, Germany is the market that

14:31 will buy it, because energy prices are high It would be interesting to see if Germany does a few things. One is maybe invest in technology to

14:43 make coal clean, 'cause they have so much lignite. I know it's a real dirty coal, but they have an abundance of lignite coal. Why don't they leverage it?

14:52 And that's cheap base load power, by the way. I'm the cheapest. The cheapest. The cheapest. Why doesn't Germany go reinvest there? Secondly, the way to do that is to say, are our partners in

15:06 China are doing it. Because

15:12 Exactly, there we go. So that'll bear watch, that will bear

15:18 watching over it comes. All right, I love this next article and I don't even know what we're gonna say about it, but I'll just start talking about it. Colin sent around an article called We're

15:30 Changing the Clouds. And basically the backdrop of the article is the UN International Maritime Organization in 2020, past rules, in effect, getting rid of sulfur and ships. So ships sulfur

15:46 pollution worldwide is down like 80. So air quality is up, but what's been wild about it is it's less than the effect of the sulfate particles that come with that pollution that seed and brighten up

16:01 these low level reflective clouds. the ships, so basically trailing a ship, they create clouds. And that was actually very reflective and had a cooling effect. And what the research they're doing

16:17 now says that cooling effect may even have been 2x what we thought it was. Really? And it's warming the planet and the Atlantic Ocean is now warmer than supposedly it's ever been or been in a long

16:30 time. And they're attributing it to the fact you don't have these clouds anymore that in effect provided cover for the Atlantic Ocean, which is just crazy. I mean, that's interesting. Who would

16:45 have thunked? That's the result of reducing sulfur content in ship fuel. However, interesting enough, I always sort of look at these different monikers. One is remembering like friends that live

17:00 in Florida, they, especially the Orange.

17:04 farmers. Like the freeze line is increasingly moving up further north. And it's interesting to see like, you know, a friend of mine lives in Vera Beach. And like, Vera Beach used to be, you

17:16 know, part of the climate where you can grow oranges all year round, but, but now in Vera Beach. It was the Demilitarized Zone. Yeah, it's free if there's free freezing goes on. And so you lose

17:29 your orange crops, you have to go further and further south to grow oranges Similar with, you know, my time in Antucket, I always figure out because I serve for the wet suit in June, because it's

17:39 too cold, the water temperature. This summer I was in the water without a wet suit in June. So the water does seem to be getting warmer and warmer. Now, I don't know what that means. I didn't

17:51 realize it was because of the ships that are passing through the night are not providing cloud cover, but that is an interesting piece. Something we should look at. Well, the thing I have to take

18:03 away it is second and third order effects on all of this. We just need to be really careful about we need to be thoughtful about because you know Colin says this more eloquently than I do but you

18:18 guys I always love our our bravado to think we can actually control the climate. Well it's kind of you know now that I'm back in Houston and it's a hundred degrees what the hell is going on but a

18:29 friend recommended that I drink alkaline water that's alkaline high alkalinity and so I've been looking it up and it's like there's no real research but here's the what we think are the benefits it's

18:42 similar with playing you know we've got 148 million variables here for the environment who knows what one variable which is sulfur

18:50 and marine fuel really has an impact maybe it's right but it's really hard to understand how it's going to have an impact until you do it yeah no and this article actually pointed out This is a great

19:03 experiment because you had a definite change in behavior that was dramatic. You can measure the results of what happened and actually what it gives kind of hope to and rise to and hopefully further

19:18 research to is we might be able to just reflect heat away. That's interesting. If we're worried about global warming, you know, there's the guy out there that said he's come up with the white

19:28 paint that if you paint everything white, he can bounce two percent of the solar flares or whatever heat back. But we don't know until we paint everything white. That's the problem. Exactly. I

19:43 don't want this. I like poos. I like to mob. That's right. What happened to what? All right. Let's get to your, you teased it, very, very, very media of you. How you teased it. I teased

19:55 that. That's block. I did tease that story It's real interesting that. We're seeing petroleum engineering, it's cyclical, but we're seeing a massive drop in petroleum engineering programs, the

20:11 enrollments in petroleum engineering programs at universities dropped by over 50. So you have a, you have actually a chart here, Chuck, that we're gonna try to put it in. Yeah, hopefully we'll

20:22 get it popped up. I'm gonna put it up. Undergraduate, petroleum engineering enrollments and select US. universities. So UT Austin, best school in the world I went there, of course.

20:33 Change since peak, 42 down. AM down 63 isn't that a shocker. Texas Tech, 88. We're not there, we're number one. I know. The school minds 877, LSU, 89, Oklahoma State, 90. What the hell's

20:53 going on, Chuck? So I have a theory on this

20:59 We always recognize that employment. like anything else in this world is a relative thing, not an absolute thing, meaning I'm making a comparison of do I want to do technology, do I want to do

21:11 medicine, do I want to do oil and gas. And here's what I think's always been the problem with oil and gas is you have an incredibly volatile industry. So your downside is that you can get fired and

21:27 lose your job. Yeah. Post your boy for that, right here, here you go You're not the only one, Chuck. I know, you got fired too. So, that's your downside. And I think people could actually

21:41 live with that. It's just we are so slow to promote as an industry. You have to be at Exxon 27 years before you're an assistant to an assistant vice president. Right. That you don't have the

21:54 upside. And I think technology has had, certainly not the volatility we have. They've been on a good run,

22:03 they do have volatility, you do get fired. Startups don't work sometimes and all. But the flip side is you can be 24 years old and run marketing at Amazon. Absolutely. Or you can be running a

22:12 division of Facebook at age 28. So there's more upside. Now, I will say this, you can't put someone with 18 months experience in charge of the J field for Exxon because of the H2S everywhere. Can

22:28 I debate that? I was thinking about this 'cause I used to be on your side on this issue 'cause I used to work in a tech company. My first job out of college, I worked for a tech company, fastest

22:38 growing company in the history of the world at the time. I got promoted very quickly in my early to mid 20s and was there, as you were saying. So I was early executive in my 20s.

22:52 And when I came into energy, I thought there's so much safety risk in issues here You can't put. someone young in that role, they need to be mentored and blah, blah, blah. However, having

23:06 worked in a big energy company, they did not fire me, by the way. They have so many rules and safety procedures. It doesn't matter who you put in that next chair, they're not gonna say, oh,

23:16 ignore all the history and the learnings. So I'm like, can we really fail? I mean, do you think if we look at Maconda, was it really as 20 year olds that were doing that? Or were a bunch of

23:29 senior executives, many of who I know, by the way, that have been let go or sent to pasture because of these safety incidents, and they're pretty old, if you will. So I'm wondering, is that

23:41 really just an excuse for the same to be the same as always or not? That's interesting. Okay.

23:51 It's a cultural problem, not an age problem. Well, no, that's true.

23:58 It's not that, I mean, even the dumb finance guy went and went out to the rig, you know, if the alarm goes off, run towards the wind. That's right, yeah, I picked up on that. I mean, we hear

24:08 stories from Colin all the time. Colin has more wisdom because of being out in the oil patch than anyone I've ever met, and he's seen it all. Like, if you ask him, like, someone just lost their

24:20 hand, he's like, I know what to do. I mean, so I'm not necessarily worried about the age I think it has to do with experience, and you can get experience relatively young. So you know what, one

24:32 of my favorites, it's not an exact analogy here, or exactly appropriate, but just having to do with age, is someone we know was running big data for a large company, and basically hired a bunch

24:47 of data scientists, including a 23-year-old, and the 23-year-old never even put gasoline in their car. You knew nothing about it, walks in after three months and says, hey, if a pumper won't put

25:06 their truck in reverse, they only drive forward. We will reduce operating costs by 43 and we'll reduce accidents by 77. And everybody's like, oh, what are you talking about now? Just don't ever

25:17 put it in reverse. So they actually re-engineered the pumper's paths to never put the car in reverse They would drive to the site and they'd drive forward out of the site and that's what they did.

25:28 And it wasn't 43, it was like 46 op expenses were down and instead of 77 of accidents, it was like 81. But I mean, somebody that knew nothing about oil and gas would just date a look at it and

25:42 said, okay, well, it's clear that's the toggle and said, you know, just, okay, I'll kind of buy this. So oil and gas companies quit being stingy, promoting smart people. Yeah, no doubt But

25:52 don't look at some of the older guys in the room. And ignore us either. Yeah, exactly.

25:60 Exactly. We have some, we have some maturity and wisdom to pass on to other people. Damn it. But I will, I will say, I will say this. This ought to be issue number one for energy companies. I

26:13 will say we've been talking about this great generational crew change for a while. I think it's cyclical. So this is bad, but what are they gonna do? When I went to University of Texas, I

26:25 remember the petroleum engineering and the chemical engineering departments like merge. Like there wasn't really a petroleum engineering program when I was in school there because oil was in the

26:38 shits. And the guys that were my peers that decided to do it anyway, which we're all laughing at them, a few of those guys are billionaires now. So is there something to be said about going

26:51 against, you know, the moving flow and jumping in when the time is really good opportunity. Maybe it's a great time, but what I know will happen is eventually people will run to petroleum

27:02 engineering because they're going to have to pay more and more and more money for this content, which is why,

27:11 you know, software engineers are being paid a lot of money out of undergrad if they're good because it's a skilled resource that's in limited supply. Well, I think it was Steve Jobs that used to,

27:22 say, run towards scarcity. You said it better than anybody. Damn Chuck, you're good. No, Jobs did, I stole that. That's one of my favorite things I have in my bio. I say that I was head of

27:33 product design for Apple and that Steve Jobs wants set of Chuck Yates. If Chuck Yates left, I would be reduced to wearing a black turtleneck every day.

27:43 Somehow, the IPAA, the petroleum of lights, a vocal home, whenever I go speak, they publish that bio. I love it. That's great All right, so. We've got two retirements here. We're gonna

27:55 discuss. Yeah, interesting. Let's go first with Zachary Kirkhorn. CFO of Tesla made it four years. He is retiring and the company did not get a reason. Any thoughts there? I think I have so

28:11 much fun following Elon. It's just, he is just fun. Yeah. I mean, he gets rid of a guy that's been the CFO of Tesla for four years During a really good stability period. But clearly, it sounds

28:25 like he fucked up on the Cybertruck.

28:28 Or someone did. Because it's right before the product launch of the Cybertruck and it sounds like they've had massive turnovers over their 20 year history. And those turnovers usually are around

28:41 product launches. As we know, as a guy that's come out of a company that builds products, that doesn't surprise me but it's interesting to know what Zach - to fucking up, did he miss a number? Is

28:54 it like the cost of the Cybertruck instead of, you know, 400, 000 per truck? It's 4 million per truck. I mean, it'll be interesting to see what actually happened. It was like he was scared to

29:05 wrestle the meta-CFO in the end of the card. That's right. Or that's probably the real issue. Yeah, exactly. 'Cause looking at his picture, he didn't look too tough. Now, I'm not saying that I

29:16 want to fight him 'cause I'm not tough either. We're lovers, not fighters. We're lovers, not fighters But he doesn't look tough to me. Yeah, maybe. Colin could take him. Oh yeah, totally.

29:26 The thing I love about any time one of these stories comes out, 'cause I don't have any unique insight here, but I just love reading the comments on, I guess we have to start saying X and so that's

29:35 what our - On X, yeah. On X, my favorite was, it's almost like faking the range data of their snake oil molecules is a bad thing for business Anyway, he does walk away with supposedly 50 million.

29:51 I mean, a knife's life on 50, 50, so 12 and a half million a year and and value as I not but not a bad year. Not a bad year. I would love to have 50 million because I would like to have my jet.

30:03 I know we're trying to rebuild Chuck's jet campaign. I need a jet and the other retirement we have is Goldman Sachs's head of commodities, Jeff Curry. He, back in 2004, wrote the famous research

30:18 piece, The Revenge of the Old Economy. He basically argued that under investment in oil and gas is going to lead to increase in oil prices. He was right there. He made numerous calls through the

30:30 years where he was right. He gets credited with the commodity super cycle. That was really his baby out of there. In 2015, he said the Shell Revolution is going to keep oil prices lower for longer

30:45 2017 talked about bit. coin is a commodity too, you needed it, it acts like gold, and you're, so a lot of the things he said, he was at Goldman for 27 years, and he is supposedly retiring, but

30:58 he's only 56. I mean, Chuck, so this is hedge fund, right? He's leaving for a hedge fund, he's gotta be, right? Dude, I, I mean, being an intucket, I hear people that have a, like they

31:10 all have jets, except me, of course, I'm like the guy that washes the jet windows to make a little extra cash. And I came up with a great business development strategy here in a second, but these

31:23 guys are all no longer working and they're a lot younger than 56. So I know a lot of guys that are retired because they've made their money and they don't wanna work anymore. There's nothing wrong

31:35 with that. Let's say you chock. Well, bingo. We're looking at one. Yeah, we're looking at one Now I just figured out I'm fundamentally the laziest person I've ever met, so I excel at being

31:47 unemployed. You're good at it really well. This is, this is totally my jam. Now I think you see him pop up. This, this, this red, you know, retirement and all it reads as popping up at a, at

32:00 a hedge fund at some point. No doubt. You know, kudos to him. We got lectured this week. Yeah, we did. Yeah, I'm going to, I'm going to lay it on you So our number one fan Vlad, the Richmond

32:14 police officer, sat me down in the morning of coffee, said among other things, and he had a whole laundry list of things. He really missed the finger of the week because we haven't had a finger of

32:24 the week. It sounds like he also made fun of my glasses, which is like, I respect right there. Yeah, for the audience, everybody go close in on Kirk's glasses, right? Vlad said, please tell

32:36 me that Kirk didn't spend that much on those glasses. Got him out of target, man. Come on, dude. All right, I like that. No, we will, starting next week, we'll be back with a finger of the

32:46 week and the little video clip and make sure we get it put in. Yeah, thanks for the comment, Vlad. Yeah, exactly, really appreciate it. He's just kind of mad, you know, because he was getting

32:57 the finger of the week on a pretty regular basis. We gotta come up with some good ones then. That we will. Kirk, I'm glad you're back. Great to see you. It's good. We'll miss Mark and Colin.

33:06 Maybe we'll have the whole band back next week. Maybe we can get like a little assistant to bring Mark around. Yeah, we need someone to page him Page him, page him Mark, exactly. All right,

33:18 everybody, if you enjoyed today's podcast, please subscribe, please send it to a friend of yours. We try to do the weekly summary of the energy business. If you think Jim Kramer sucks. That's

33:30 right. Cheers everyone.