Big Digital Energy

0:00 Porsche is one syllable, it's Porsche, not Porsche. According to my wife who's an expert on this. I say it's Porsche. I've only owned one. All the snobs are like, it's Porsche. No, she says

0:12 it's one syllable. Oh, really? Yeah, you heard it here on Digital Wildcatters. It wasn't on Risky Business, wait. We gotta go back and look, man. Launch the

0:23 928. It's a first order of business. We've solved that it is Porsche, not Porsche One silver. And actually two different restaurants, Uchi and Uchi-K. Okay, we're solving all kinds of problems

0:36 on the show. We're dealing with some serious shit here. Actually, we have a real problem before we get to Mark's like serious shit. But this is actually serious shit. Tesla is about to get

0:47 self-driving stuff approved in China. Oh, I saw that. And I'm thinking, I mean, I'm hearing a lot of lawsuits. They did some analysis of that. out of all the Tesla crashes, like the auto

1:01 feature, the self-driving feature was involved in majority, if not most of those accidents. But, what was it about that? Was it at fault? I have no idea. I just know when I turn on auto driving,

1:15 it scares shit at me. On Tesla? Or your - Well, my - Yeah, it's - Porsche. Porsche. Porsche

1:26 I mean, I thought we were at the point where the accident rates between people and machines are the same. It's just the regulatory environment hasn't kept up. So every lawsuit's gonna claim that -

1:39 Oh, I'm sure, probably. The self-driving did it, you know. Do you trust the machine or people? Driving? Yeah. Okay, let's ask this question every one gets to answer. Okay, Chuck. You trust?

1:53 Yeah, I trust the machine bunch of fucking idiots. So it's a good answer. Mark

2:01 old school, I trust people because the context of every road situation is changing. He goes with the John Lennon line. I am not context. I don't wear even Beatles. I don't like if if if I'm if

2:16 I've got a pilot, I'd rather I trust the pilot over some software that tells the pilot that he should be doing this or that I trust the pilot. Okay. I think that it's incredibly fucking scary that

2:27 we allow the average IQ person to get behind a 3000 pound death machine. Okay.

2:34 Seriously. Most are like six thousand. So you're picking machines in almost every incident except for the few the enlightened drivers. Yeah. Well you and my drivers. I'm just like that dude in

2:46 that stole the tractor. I trust that guy

2:51 The I just I think cars are incredibly dangerous and we just let anyone and everyone drive a car. I'm shocked we have as few deaths as we do, knock on wood. Yeah, and so I trust machines. At some

3:06 point, machines will be better at driving than humans will. Sky nut, man. If we're there now or not, I don't know.

3:14 I was watching a video on Twitter yesterday of someone sitting in their Tesla full self-driving and it was driving. Well, the only thing that had messed up was in a parking lot. It could have

3:26 waited for a car to go and it could have taken a left, but instead it took a right and it went like the long ways around a parking lot to get out, but it drove fine. Have you seen the thing there

3:37 that people are dressing up like stop signs and jumping in front of Teslas and they just stop?

3:44 Who do you yell at? If self-driving cuts you off, who do you yell at?

3:51 Well, that's that little cut down on road rage. Just be like old man, you're at the cloud But you know, I did self-driving.

3:60 cars lift had on. I can't remember who they partnered up with, but it was in Vegas back in like 2019. I did it then. And it was cool. And it worked. It worked well. They still had a driver in

4:11 the driver's seat. But there was like once where a car pulled out and the driver had to hit the brakes. I was like, damn, that was close. He's like, no, I would have the computer would have

4:20 picked up on him. Like, I don't know. No, but it didn't look like you You've already yelled at self-driving cars. Probably. At the charge point. That's true. Yeah. Those assholes. But I

4:32 actually read an interesting article that when we have the machines driving the cars, the human behavior changes and you'll just walk into the road because you know the car is going to stop. Yeah.

4:42 And that that's actually might wind up being a bigger problem because, you know, right now you think somebody might hit you if they're driving, you won't do it. Yeah, you won't be as, yeah, the,

4:56 I think what's a vision. What we could get to is where you have, I don't know if you call it a mesh network or a neural network, but where all the cars are actually connected to each other. And so

5:08 like the self-driving cars I was in in Vegas in 2019, it was a partnership with the city of Las Vegas. And so they had sensors on all of the red lights. And so you had this network built out where

5:20 the cars were actually tied into the infrastructure. And think what the grand vision is, is that all cars are actually communicating with each other. And so it's not one car using computer vision

5:33 and, and LiDAR, radar, whatever, whatever sensing and interacting with the car that's driven by a human, but they could all be running off of a protocol. Did you get Elon Musk chip installed

5:45 already? No, but dude, I would. Did you see the, did you all see the video on Twitter, like the animation of how they install it? Where they take a drill on someone's head and it looks like

5:53 just like one of those Circle Wood drills for each other all and. and then they put the little wires into the rain. Like a wood boring drill? Yeah, that's exactly what it looks like. Yeah, you

6:02 know what I'm talking about? The circular bits. And you're awake when you do it, right?

6:07 No, no, they can't do it. Brain surgery, you're awake. I think you're awake, yeah. No shit, I didn't do that. Yeah, 'cause they want to make sure they don't hit anything. Oh, yeah. No, I

6:17 didn't do that. You know, if you have a brain tumor, you go in, you're awake. You're awake. Damn, I don't know. But you don't have nerves up there Speaking of this whole car-to-car shit, I

6:27 know it's on our list, Mark, is on the run of show, 'cause I looked at it. I know Chuck E. didn't look at it. I know, I call it. I just came in and talk about it. We're gonna talk about it.

6:37 But there is a big issue with infrastructure, isn't there? Big infrastructure issue. Where? On, I mean, you have all these cars that, but you need not only cars to be able to talk to each other,

6:50 you need roads, 'cause part of it is also the road infrastructure Yeah. As well as you need charging infrastructure, right? chuck or Mark who has the information. Oh, this was a, this is a

7:04 segue into the one of the runners. It would have bad segue. So bad. I love like it's become like a running theme of how Kirk just fucks up the segways and for totally awkward moments. So if the,

7:16 if the EU

7:20 is to meet its EV transition to meet its net zero targets by 2030, you need 88 million charge points, which from here would require 22, 000 per day new installations. Damn. For charge points EVs

7:36 sales outpaced

7:40 charge point new charge point installations by three X. Amazing. Since 2017. 88 million. As someone who has been spending a great deal of time in Europe, they don't do 22, 000 day. No way. No

7:55 way. Cigarettes. Cigarettes. Maybe smoke. Yeah. Maybe smoke the cigarettes, but outside of that they don't do anything. I don't have any numbers on how many charge points are installed right

8:06 now.

8:08 Give me one second. Yes. Chad GPT real quick. Collide GPT. Why not? Collide GPT. I actually posted something on collide because it didn't have an answer. I'm looking for a technology that takes

8:21 landfill gas and can produce between 3000 to 10, 000. I think it's per day. I forget what this person there. Someone's looking to buy a company that has the ability to process a lot of landfill

8:34 gas using membranes. And we didn't have enough information in collide because there aren't a whole lot of people doing it. Yeah. So you asked it and I asked it. I put it now. Don't have the

8:46 current baseline And let me qualify my self-driving versus people present tense people. future, self-driving. Oh, there we go.

8:58 So anyways, what you're getting at is that we have to build a shit ton of charging capacity and we haven't really scratched the surface. I think we talked about it, BP's new charging station. And

9:10 I think what the big picture is on this is, are we fundamentally getting ahead of ourselves on car sales? Do we wind up frustrating the consumer to where potentially we're changing future buying

9:24 behavior because of the experience. And I mean, I drove a Tesla for six years. I loved it. I thought it was great. But yeah, being able to charge at home in Richmond, Texas, which is 25 miles

9:37 from downtown Houston. Ford's asking that question again. They lost 13 billion in EVs in the first quarter. So I just asked perplexity. It says as of early 2024, are around 175, 000 EV charging

9:50 outlets across the United States. So that sounds like locations,

9:58 she has a first quarter of 2023, there are 161, 000 public and private EV charging ports nearly doubling from 87, 000 in 2019. So does it say that we need charge points? Is that like, is that

10:13 locations or is that chargers charging stations charging state? So yeah, we're not anywhere close to what's needed. No, that's crazy. We're at 200, 000 roughly, and we need eight and a half

10:27 million. And I still don't understand, if you look at just convenience stores in America, the gross, I mean, the net income margins are what, like, one in two percent. I mean, they're not,

10:41 you don't make a lot of money with a convenience store because, right, no barriers to entry. Anybody can sell gas. You know, you make, you have theft, How are charging stations going to be any

10:54 more profitable? And

10:56 if not, why are people going to build all those things? Well, I think that - Bucky's Europe. Bucky's Europe. Now, Bucky's is at least put gas stations where nobody else has a gas station and

11:08 created an extreme - By the way, they have zero charging outlets. That's not true, that's not true, Bucky's. There's a fucking gas station everywhere where Bucky's put some. They just create a

11:15 better experience. Well, originally, they were able to build their brand, et cetera, 'cause they were generally putting station for other people weren't there. It's like everywhere. But it is a

11:28 better experience. Or your option was a truck stop. Right. Right. So there's 630, 000

11:36 charging points across the EU, presently, that's up 150, 000 year over year. So I knew someone that was trying to raise VC for a charging startup, and the whole idea was think of it like a hybrid

11:53 between a Starbucks and a store I'm bugging on the phone's name, but he came on fuse. Yeah, he's a fuse. Yeah. Yeah. But the problem is, is that that's not a it's not a technology, right? And

12:05 it's, it's kind of like one of those businesses, you got to go bootstrap a location and then build a second location just like gas stations. And so,

12:14 you know, I do think that there could be a pretty cool business there to build if you think that you build like some combination of like Starbucks or buckies for EV charging, where you make it a

12:23 good experience. But, you know, then you have issues like whose charges are you using? Because all these chargers suck unless they're Tesla, you know, superchargers. We killed, we killed some

12:36 brain cells, five or six really smart people one night over a couple bottles of wine, trying to think, what is the hook? I mean, what could make you want to stop for an hour? Yeah, that was, I

12:47 mean, I would, I would make it I would 100 I would 100 go to a place that had a nice cafe and work workplace. I do it all the time and I don't even drive any of you. Like the other day do traffic

12:59 so bad I stop by a smash burger. I just sit down and crush some hamburgers and get my computer out and work. Did they have internet? No, I've run off my hotspot on my phone, but what I'm like, I

13:13 would I would 100 if I drove an EV out 100 use those those types of Well, I mean, you you have to stop because it takes a long time to charge, which is part of the issue too. Yeah, although I

13:24 hear the technology and I wound up at our crawfish. Well, as we can talk to a guy who's working on this is ultimately what's going to be the technology is a battery like addition to the car that

13:41 gets you like 30 or 40 miles And so you, you stop at an existing buckies and you just kind of like a propane tank. you swap it out. I don't think you pop that in your car. That gives you 30. I

13:54 mean, we looked at. So you're charging overnight. What is that way? What? What is that way? Yeah, it got the guy that's too much to carry in for sure. But just think like, look, that just

14:08 sounds like such a shitty user experience and people aren't going to put up with a shitty. Well, they talked about doing battery swapping, but part of the battery management system is tied to a

14:17 manufacturer. Yeah. Because people are like, well, the easiest way to do it is to have this, you know, these batteries that could just be swapped. Yeah. Doesn't matter. Battery swapping makes

14:28 sense on like in an ideal in an ideal world, but then like the value of an EV is in the battery. And it's like right now, it's like, I'm looking at buying like, dude, these tests are so cheap.

14:38 I'm going to buy a Tesla, but then there's all these questions on the battery. And it's like, okay, well, when you replace the battery, the last thing I want to do is I got a brand new EV and I

14:47 just swapped my brand new battery with some, you know.

14:58 But the key is such a limited application time though of just I need 30 or 40 miles to get to the hotel in Dallas and there then I can charge overnight while I'm out at dinner or whatever. Yeah.

15:03 That's more the thought is not a part of the driving solution. It's a booster. Yeah, it's a booster. Can I get to the point? You just put the booster in the in the front In the front. In the

15:17 front.

15:19 What the fuck? Interesting. Interestingly, what's interesting is speaking of batteries. Is that segue? Got it. Ooh, look at this. BHP made an unsolicited bid for American Anglo, which I think

15:34 is second largest by market cap mining company in the world Believe that's right. Rio Tinto might be second or third. I like American Anglo because they're the ones that owns the beers, the biggest,

15:44 they are the diamond. They're the biggest diamond company for sure. But anyway, This market's heating up 'cause mining companies are saying, Hey, we need to get bigger, scale more, precious

15:57 resources are needed. And the only way to do that is you need a huge scale to do it. So there's some interesting news hanging out in the mining community right now 'cause everyone's saying is who's

16:08 gonna buy

16:11 and end up buying American Anglo or what's gonna happen. But BHP's unsolicited offer was actually declined by American Anglo It wasn't enough, it was like for37 billion, their market cap I think is

16:22 around45 billion. Yeah, what a scale I actually do for you in mining And. this is a question purely born of ignorance. You know, 'cause I mean, when you think of scale, you think of cheaper

16:36 financing. Well, mine just kind of seemed to be in the penalty box financing wise. Just good questions. Good question. G stuff. So like, if you have five mines, can you buy equipment cheaper

16:47 or what sort of the, what is the scale? issue because I just don't know. I think

16:56 this one had just picking up some post-rejection commentary from apparently insiders who have been involved with investor discussions among BHP and their key investors. In fact, I think they're

17:14 maybe doing a road show about presenting different valuation cases for sweetening the bid in the investment community is receptive to that. I think this one has been characterized as more strategic.

17:29 And the only comment I saw in that regard was for the high quality of anglose, copper assets in particular. And they're not even in the top 10 in market cap Rio Tinto's number two behind BHP So,

17:46 okay, there you go. I got it wrong. I don't have anything. This is a good guess.

17:53 Well, we have other news that you can apply on. What do we got? Well, you sent this one. A second last year, it was another one about the EPA. No, the one that was posted by Kevin Stevens

18:07 about the, uh, the power line that has been blocked by the group. Yeah. Uh, Wisconsin. You have any information? I don't have anything to read off. Yes, I do Uh,

18:20 upper Midwest, this was by the, uh, injunction was entered by the federal district court for Western Wisconsin. This is the Cardinal Hickory Creek line, six hundred and 30 million in change.

18:34 They literally, when you hear last mile, you think, well, it's a segment. It's literally the last 11 miles of this, of this power line.

18:45 The interesting thing, or the ironic thing, is that there are 160 renewables providers along this line who are dependent upon its completion. Who is the, does it say who the group was, the

18:57 environmental group that's blocked it?

19:02 'Cause at the end of the day - To Sierra Club, I'm gonna lose my shit.

19:07 Let's see. Environmental group, hold on. Oh, search a rule. Yeah, let's look that up. In the meantime, while you're looking it up, an environmental group based on the Antucket is trying to,

19:17 there's the dead whale that rolled up on the Antucket South Shore. Yeah, I saw that.

19:22 And there's an environmental group in the Antucket that are saying, hey, stop the wind project that's happening, not to. You can see, you're gonna be able to see like 900 windmills from the South

19:33 Shore and Antucket. So they got it and buy in the South Shore because that's your view, gonna be your view, but people are trying to stop it because whales are dying while a judge blocked and said,

19:44 sorry, this wind project's going on. So if you're, I

19:49 think it's interesting to see that in some cases environmental groups or protesters can be successful, but in the case of what's happening offshore right now, 'cause I think it's a pretty big deal

19:60 to many powerful people currently in power. It's judges are saying, hey, I don't care about your request for dead whales, it doesn't matter. It's, we're building it anyway The issue here in the

20:15 power line is related to an acreage swap. They needed an easement through something known as

20:25 the Upper Mississippi National Wildlife and Fish Refuge in the Upper Mississippi River. And they swapped, as I saw, got those 20 acres for the easement in exchange for 28 other acres that would be

20:40 redesignated part of the refuge.

20:45 And so this is

20:48 kind of an 11th hour and 59th minute maneuver that literally is inhibiting the completion of the literal last mile of the power line. It does warm my heart that like Landbro fights are gonna go

21:03 beyond oil and gas. You know, the renewables are gonna shut all oil and gas down. The land man bros will still be - Still re-fighting about the swatting. Yeah, exactly. I saw this, Kevin

21:19 Stevens who shared that article, also shared that India is building the world's largest solar farm. And it's five times the size of Paris. See it from space, 20 billion to build it. Enough power

21:34 to power Switzerland.

21:37 I just looked it up on this news article and apparently, cold billionaire. Is building the world. Of course. I just find that funny. This guy's hell yeah, I'm going to get in on this money.

21:50 Cold billionaires building it. So this thing is going to be - I don't know how big Paris is, but it's not inconsequential five times the size of Paris. It seems that it's pretty material.

22:06 Hopefully they have transmission line stuff.

22:10 So they have environmentalist groups in India that can block transmission lines. The government can. But I doubt that they would stop at this point. They're borderless.

22:23 Oh, yeah. So this is just another in the category. And we talked about one last week with the NPRA discussion about part of that resistance being related to the Ambler Mine Road, where you

22:40 actually need the road to. be able to exploit the mine and haul stuff in and out through the NPR and that mine is perspective for copper lead and zinc. So it's all the pieces and parts of things

22:53 related to renewables that, you know, we've got apparently big momentum in the US about re-shoring, but in selective parts of the value or supply chain, it's running into unsurprising types

23:11 of roadblocks to actually get things done on time. I mean, if you think about it, you know, our existing energy infrastructure based on hydrocarbons is paid for, you know, and it's been around

23:24 for 100, 125 years. The other thing that happens in that 125 years is we've built a lot of brawl. We talk about how horrible it is in the There is a lot of regulatory certainty. around

23:39 hydrocarbons and how we treat each other just 'cause cases have been settled. Don't think we're not gonna do all that in renewables as well. You know, you put this up, it blocks my view. What are

23:51 the rights of landowners in that situation? You didn't cover it in my surface use agreement. We're gonna have to build that whole regulatory body all over. What was the timeframe over which that

24:03 unfolded? Yeah, exactly. Been saying this for years on Twitter It's like, you think that all the environmentalists aren't gonna come after renewables. I said, once they're done with oil and gas,

24:12 they're gonna turn their attention to renewables and they just hate infrastructure, specifically energy infrastructure. So it looks like we're starting to see that with that. It reminds me of also

24:24 when Sierra Club last year, maybe a year and a half ago, shut down that pipeline. I think it was in Nebraska. And it was funny because the company that was building the pipeline is in an oil and

24:35 gas company They're CO2.

24:39 Sequestration Company and Sierra Club's like CO2 sequestration is just a greenwashing scam by oil and gas and that company's like, we're not even an oil and gas company. I mean, let's talk about

24:52 what's going on in West Texas, Mark. Yeah, this is something we've talked about a few months ago, more of a technical paper, but Wall Street Journal had a piece this morning on Permian produced

25:04 water And just a few statistics to set the table.

25:13 There was 382 million, and this was specifically mostly focused on the Delaware Basin. 382 million barrels of water disposed of in 2013. It was 34 billion barrels last year. Wow And according to

25:32 this survey, the study since 2015, I don't know on the map where these. areas of maximum subsidence and uplift are, but 11 inches of subsidence because of the withdrawal of boiling water,

25:49 primarily, in five inches of uplift. And we, you know, Pinier talked about the shallower zone, drilling hazards that were a function of pressuring up the St. Andrews, for example, where they

26:03 had to set extra strings of casing, this problem hasn't gone away Oxi was on record in this, in this article, talking about, you know, extra string designs being necessitated by what they're

26:16 seeing. On the earthquake front,

26:20 for 25 and greater, there were 42 events in 2017 and 671 and 2022. And then they go on to talk about, you know, the growing concern around groundwater threats because of the fact that the easiest.

26:38 lowest cost place that disposes in the shallower wells, you know, are you going to start seeing a breach of some of these

26:45 abandoned wells where there's communication with groundwater sources. So it was a, I think a pretty big feature for Wall Street Journal and in an era where we're talking mostly about emissions and

27:01 the whole conversation. I'm just curious as a landowner, if your land subsides 11 inches, it's 11 inches lower over a year. Would you, would you rather be on the other side? Because there's

27:17 other parts of the basin has five inches of growth. Yeah. I don't know if you, do you want to be higher or you want me lower? Shit. It's cooler up there. There's a five inches, 11 inches, a

27:30 joke in there, but I lost my ass falling, I can't make it. That's why I started smirking because I was like, there's something.

27:39 This is a real issue because I'm pro oil and gas, but our industry better get our shit together on this because I went and spent a lot of time at Antina Ranch, did three podcasts from there and saw

27:53 it and I mean, what qualified as plugging and abandoning 75 years ago is basically a big huge fucking straw out of the surface water. It just is. I mean, dumping a little dirt down there, maybe

28:12 sinking some equipment in there and throwing some concrete down Boom. That was it. Maybe a Christmas tree in it. Yeah. I mean, we've got a real issue out there. Fortunately, it's not the

28:26 prettiest. part of the country.

28:30 But yeah, you know, but it's a real issue. You know, the problem though is it's like, yeah, it's not like when you look at it, it's like, oh, it's not a pretty part of the country. So like,

28:39 it doesn't matter. But what does matter is the water tables, especially, you know, we talk about the future of West Texas and both energy and high performance computing and the space industry.

28:52 Well, you can't do any of that shit. If you don't have clean drinking water, you know, for people who live off of, you know, to power these these industries. So the groundwater is a huge issue

29:05 and something that can't be taken lightly. It's not being taken lightly. You know, there's a lot of people that are working on water technology. I actually was talking to Kermit about it at the

29:17 crawfish boil. The thing that the Permian Basin will be the epicenter of water recycling technology and that tech will be exported all around the world just kind of like. we did the shell and oil

29:29 and gas. And so,

29:32 yeah, and you talked about like plug wells, the first blow I ever saw, we were drilling, we were re-entering a well that was drilled in 1982 and I was plug and abandoned. And it's supposed to

29:43 have three plugs and it had one plug. After that first plug and there's all those gases built up over 30 years and blew out on us. And so I saw that first hand of shit, shit wasn't what it said But

29:57 it said on the records. And that's kind of sore eye on the historic pass of this industry. Also, it kind of makes it hard. Like

30:09 the oil and gas industry did a lot of shit previously. That's just not a representation of where the industry stands today. And that's really kind of left a black eye on it. And

30:22 our generations having to do a lot of work to kind of make up for that reputation. So I mean, Bob talked about it last week. You've got the self-regulatory

30:34 frameworks and bodies that come up. I saw it firsthand in response to the Valdez spill. You had the Marine Spill Response Corporation. And so I don't know how this problem is not addressed by an

30:51 industry-wide type of effort thinking about you got a huge task to

30:59 go through legacy wild files and figure out actually what happened in terms of

31:05 PAs or the workovers or where preparations were plugged zone to zone and what's left open, et cetera. It's certainly not a perfect record. There are a lot of blind spots and a lot of wells that we

31:17 don't even know who the original owner was Now, does the - when you acquire an asset, does the

31:25 liability - go with the new owner or does it go back? It's per the sale and purchase agreement. And what happened is way back in the day, it was my watch, your watch, meaning something happened

31:38 on your watch, it's you, I buy it going forward. It's me. Then what happened, at least for a while, was sellers had enough in the way of power that they said, now you buy it, you own the

31:53 liability from the day it was drilled. And okay, that's fine and dandy. Well, what happened is we had the flipper, right? You'd buy something, you'd fix

32:09 it up and then you'd sell it. And you wind up with companies in the chain of title that don't exist anymore. You wind up companies that own it and kind of have it on the last legs and then just buy

32:20 bankruptcy So that's what happened is all these companies,

32:27 go to establish operators, they kick the can down the road and they end up divesting that asset and it goes down to lower tier operators and they pass it down to lower tier operators by the time that

32:37 it gets to strip a well stage, it's some PA liability that - It's like Collin and Jake when they bought those wells.

32:46 That's when I first started seeing it because I had to put up a25, 000 bond for all my wells and it didn't matter how many wells I had I just had to have a25, 000 bond and I was like, that

32:58 doesn't make any fucking sense. I was like, you know, it's gonna cost me more than that to plug these wells. And what if I keep adding on wells? Like that25, 000 bond doesn't do shit. And so

33:10 that's when I first started seeing it and I was like, that doesn't make any sense. But, you know,

33:17 and I was gonna share a story. I remember I was on West Texas one time and I was running expandable casing And I told these guys that. needed to run a caliper lug because the casing was fucking junk.

33:30 And I was like, Hey, we need to run a caliper lug on this. And they told me no, I was like, why, what's the reasoning? Like, because the casing's in bad on this entire lease. And we don't

33:40 want any record. We're trying to sell this. And we don't want any record of all the bad gazing out here. And so that's when I was like, dude, fuck by and I want to guess that said, you know,

33:51 the due diligence to know if you have mechanical integrity is just it's a crazy burden. But, you know, there's some, there's some interesting things that are coming out of it, you know, we'll

34:01 make one good plug because obviously plug I get it. I didn't. The one of the things the shale revolution did do in a positive way is if you're drilling a brand new well, it's 2000 barrels a day and

34:17 10 million a day of natural gas, that wouldn't go into the existing gathering infrastructure in the area and these older. So you had to go out and build new pipe and a lot of times you went in and

34:30 just PA the old wells because you didn't want to mess them with your frack jobs, et cetera. So there was a lot of good done during the shell revolution on the environmental front in terms of

34:41 cleaning up the stuff, but there's a shell revolution revolution revolutionized the way that the industry operated. I mean, I look at it when I started working just like from a safety culture and

34:53 everything dude, my first day on rigor bought a 30 pack out on the way to the rig and drank and fucking drilled holes while we're in our shorts and flip-flops, like you can't do that anymore. So,

35:04 you know, I did did a lot of good in changing service overall culture. Shout out to Rob Bruent, who is the director of product and research at B3 Insight, who I believe was the author of the

35:16 technical paper we talked about on this issue a few months ago. Probably ought to have Rob on Chuck Job. Come on Rob, and actually what we ought to do, study this more, but it probably wouldn't

35:29 be bad to do some work on this and recruit some people in the industry to show some leadership on it. I mean, give a shout out to Jared Blong,

35:43 who I think he formally goes by the first lady of Midland. His wife is a mayor, Lori Blong

35:52 And him and he's on the board. It's a group effort by the University of Texas, Permian Basin. They do a water tech conference every year. They invited us this year. I think we're gonna help them

36:03 out maybe next year. But they're putting a lot of time and attention into water recycling and SWD issues. So awesome. Get a lot of smart people out there that care. I mean, look, it's easy to be

36:18 Wall Street Journal on these, these environmentalism. climate hawks and like criticizing Permian Basin. Well, guess what? You don't care more than the people that actually live there. So, you

36:31 know, I find it funny to see critiques from outside parties because there's the people that actually live there that are to solve it, so. And kind of the extreme outcome of, I guess not getting

36:44 ahead of subsidence and seismicity. You know, we all saw the shutting in of Europe's largest gas field, Groningen Yeah. In the Netherlands, so. No. You lose your license to operate. That was a

36:58 big deal, by the way. Right. I was

37:02 hanging around the Netherlands for a while, and that was a discussion that, and of course - There's a lot of bicycles there, right? You, of course, you saw one of the companies based in the

37:12 Netherlands, leave the Netherlands, in part due to that

37:17 issue, but - Could they be on the move again? I now topic for another show. It's another another thing that we've talked about one kind of last thing. I had Kathleen I recorded with Kathleen Kelly

37:31 the OPEC whisper on Friday so it'll come out this Wednesday on Chuck job her way over simplifying her bid on oil but the punchline was we really are at a point of stability right now where oil prices

37:50 are just going to be kicking around call it 80 90 range the wild card being Iran and so I think I think as we kind of talk about elections and sorry I don't have a company country to do this week but

38:06 we'll get back to that next week.

38:09 One of the big things that we need to be thinking about in the US presidential election I mean Trump is, you know, export ban on Iran and their barrels. Biden is not. And so the 3 million or 32

38:25 million a day, whatever Iran's doing, that's

38:30 something to keep an eye on. And the reason I just bring that up is I think what we're seeing right now, the campus

38:40 protests, I think that's actually having an effect and you're starting to see it in the polling when it comes to the US. presidential race, like him hating whatever Donald Trump's pulling ahead.

38:52 And I think it's in the yeah, the CNN poll that was characterizes catastrophic in one headline that I saw that came out this weekend was a six point lead. Yeah, 49 43 just protests. It's like you

39:06 alienate 100 million of the youngest people in this nation by banning tiktok. Like that's a big deal. Like a lot of people that don't use tiktok don't understand like people like that. That's the

39:20 search engine for the youth. That's where they find restaurants. It's not just - They're pissed off at it. And then it's like, okay, how can we go piss off everyone that's older? We're gonna

39:33 propose a tax on unrealized gains. And I find it very fucking concerning that this keeps coming up every year. Like someone sits down and thinks if this is a good idea every single year. And it's

39:46 like the worst idea of all time. And so it's like, okay, we're gonna go piss off all the older people by taxing unrealized gains. We're gonna piss off all the younger people by banning TikTok.

39:57 And I'm like, what the fuck? Like, I don't like talking politics. I don't like getting involved in politics, but I look at the strategy here. And I'm like, what's going on? I wouldn't be doing

40:06 all these things right before an election, so. There's a last last thing since you don't have the run a show.

40:15 It's something that's going on now The G7 energy ministers were meeting in Italy. and they reached a technical agreement today, Monday, on phasing down coal in their respective countries by 2035.

40:32 The political communique is supposed to come out tomorrow. It's going to have some language on acceptable alternatives on the menu of options to include biofuels and nuclear, but also calling for a

40:45 sixfold increase in battery capacity And the only commentary around natural gas was, apparently there's going to be

40:54 a meeting to discuss or debate over further restrictions on Russian LNG. You and I were talking about Germany's floating LNG. Okay, if you're shutting down nuclear, you're on a pretty rapid

41:07 descent. I mean, German power is still 25 coal-fired. Italian don't care because they're less than 5, right? So, there's 17 projects to import more LNG.

41:21 that have been green-lighted for Europe. So it's interesting that when we're going back to LNG, in every one way, but it's definitely in the headlines. I mean, they said that one of the reasons

41:35 why Europe was saved from rushing gas, at least that's the headline the financial times, is that this floating LNG ship off the shores of Germany is critical and if they can get more of LNG, LNG

41:51 capabilities and Europe can reduce energy prices. Yeah. Well, it's gonna be interesting to see where Japan ultimately comes out on this, 'cause if you remember the last time we talked about the

42:02 energy ministers meeting for the actual G7 leaders meeting, they were very resistant to the notion of, at that time a lot of the discussion was around the phase down, phase out of natural gas. Can

42:15 you just imagine being, you know, planners? The executives make the decisions, but the planners, when the shell revolution hit and we're like, man, we have all this gas, let's go build LNG on

42:27 the Gulf Coast and just think about like where we're thinking about the environmental, the energy transition. And I remember when I was back at working for a big company, it's like,

42:42 gas is the gateway. Gas is the gateway. That's the line. Gas is the gateway I mean, we literally started Schineer to import natural gas to import to import to import. Yeah. I don't know what the

42:57 collective operating coal capacity across the G7 is, but if you're talking about going to zero, that's base load power by 2035, which is 10 and a half, 11 years from now, we've talked a lot about

43:10 data center and AI related power demand growth, particularly here in the US, is there going to be a lockstep plan, if nuclear is your Most viable option. can that actually get done? It's a lot

43:21 easier to understand what people's real energy policy is when it's a dictatorship. And when you look at the world's dictatorships, what they're doing seems to be long-term planning. Let's own the

43:36 energy transition by manufacturing all the parts and capabilities of the energy transition. And by the way, let's go build a shit ton of coal-fired inner plants, which the job - Oh, and we're

43:50 gonna dominate minds, too. Oh, I'm with the Wall Street Journal article last year with the CEO of, or with the founder of Shenier, Sri Sookie, that's his name, right? You shall read that.

43:60 This is a great fucking piece. Like, I had no idea his background, but he owned the restaurant where Nicole Simpson, where Nicole Simpson was the night that she was - And Ron Goldman, the waiter,

44:12 worked. Yeah. So he owned that restaurant That's like very work full time and then like the media and everything got to be too much and he quit doing it. And then there's a huge gap in the story,

44:24 but somehow he goes on to raise billions of dollars from his network for Schineer in the selling G facility and has this, has this thesis that we have to import LNG. And then like literally

44:37 overnight, we become a net expert. There was an article when they decided it was in 2010 or 2011, when he decided to flip. Yeah. And he's like, the quote, and I think it was Wall Street Journal,

44:52 but the quote was,

44:54 whether I become a billionaire or lose everything, I take it with a grain of salt. Like, he's like, I'm worth billions. I could be worth nothing, but I can't don't judge me basically on either

45:07 one, because you have to take it with a grain of salt, because it's this is how crazy these markets really are. And I had to go raise, like, 2 billion to convert it to an export facility. And

45:19 I'm just like, you'd imagine that. You do all this. Don't you think you'd like, I mean, you'd think like, man, he's gonna get fired, but he's like, great idea. We were importing, now we're

45:28 exporting. Hard family.

45:33 Yeah, I will say this too, 'cause I harp on it every time we talk about it. And then more and more, I believe this, if what we plan to tell Africa and Southeast Asia and the next two billion net

45:47 people that come on the planet, hey guys, you don't get shit. We had all this cheap coal to build our economies and you don't get to have that. Go try the solar and wind stuff. If we do that,

45:60 it's gonna be really, really bad. I'll reiterate the stat again, between 2020 and 2050, we're adding, according to the UN, 19 billion people in new folks to the planet.

46:13 That's 12 billion of those 19 come from a handful of key countries in Africa. Yeah. And if we had any sort of forethought, we'd go finance the natural gas LNG infrastructure there and then just put

46:29 this problem to bed. So as Arjun calls us the lucky 1 billion, we seem to be in a chronic state of a lack of self-awareness Let them eat. Okay, heard it here. Well, there's the end of the show

46:41 out. There was this chart shared on Twitter by his founder, Houghton, California, his name is Isaiah Taylor. So shout out to Isaiah, but the chart shows energy consumption and population growth

46:56 since the early 1800s and remains a direct correlation between population growth and energy consumption. And so

47:04 his tweet also said, I think oil is awesome. If your family made money in oil and gas, you should shout it from the rooftops about how much energy they gave their fellow men. you should invest in

47:14 me for our second round.

47:17 So yeah, shout out to him. But all right. Appreciate everyone tuning in to this week's episode. Share it with a friend and we will catch y'all next week. And energy tech night, two weeks, Fort

47:31 Worth. That was Fort Worth. Yes. Let's go. May 15th. Same, same day as Harts, Doug Conference. So if you're in town for Harts, Doug Conference come hang out with us.