Big Digital Energy

0:00 So I had a dinner last week with Rich Eichler over at Heart Energy, Rich and I always try to hang out about like once every six months or something. This is crazy because like talk about two old ass

0:15 boomers sitting there. I don't think we ordered scotch, but you know it might have been that level of boomerness. And all we talked about was AI in the energy business. Oh, really? Yeah, I

0:26 think rich should feel pretty flattered because I thought you were going to say, well, I was having dinner with Kimball Musk because you're hanging out with Kimball Musk. I did hang out when she

0:36 took it to rich. And so rich got the preferential treatment over Kimball Musk. Yeah, she did, Rich Echler.

0:44 Yeah, but now they're so at Doug because, you know, we're going to do energy tech night on Wednesday, the 15th up in Fort Worth, kind of night before Doug kicks off. And then we're going to go

0:57 every dog they have like literally AI. Allie, where they're going to have all these AI. companies, yeah, sitting there. And so Rich was talking about that and you're going to love this. So,

1:09 and I was talking about, you know, man, we've more from like podcast bros to a legit AI. software company. And he said this and he didn't mean it condescending as I'll get out. But he was like,

1:23 man, y'all have really grown up.

1:26 It's like kind of sending. I'll take that as a comment Yeah, I will. We're too good to be able to be in Fort Worth next week. So Energy Tech Night will be the evening of the 15th at 411.

1:38 And I believe

1:40 Arts Doug Conference will be the 14th

1:45 and 15th. I think it's I think it's the next couple of days. It's a they kick off the night of the 15th

1:53 and it's 16th and 17 May 15 through 17th. Yeah, then Fort Worth. Make sure to check that out. Yeah, if you're in town, come out to Doug, come out to Energy Tech Night, it'll be a good time.

2:07 So, that said, God. I'm just Mark. I really do, no offense, John. Thanks, John. We're missing. I likeRun of Show

2:17 by Mark. It's funny, yeah. So Mark always does ourRun of Show. He took that off of Chuck's plate, but good old Mark and saw I like to call, I don't like Mark and saw it anymore. I like calling

2:29 them sidetracked 'cause they make some happy. It's not that it makes 'em happy, it fits. I was gonna say, we'll double, double meet 'em. Yeah, it's like, okay, got the oil well drilling

2:40 reference, but also it's like, Mark will just talk a lot and like, so I like it. But yeah, so we don't have Mark today or Kirk, but we got John - So no numbers, no numbers, no golf. Yeah, we

2:52 got John subbinin with us. So, all right, let's get into thisRun of Show. Pioneer Exxon closed. Yes. You and I did the rant on Friday about how it's ridiculous that the FTC screwed Scott

3:05 Sheffield and said you can't be on the board or the combined company. Yeah. And we ranted all that, but the reason I kind of threw this on run a show just what does this mean for MA in the Permian

3:16 'cause we've been talking about how tons of stuff's gonna happen there Does this throw the

3:23 brakes on MA if you're having to fight with the FTC and people aren't gonna be on the board 'cause the people that really get screwed out of this are the pioneer employees 'cause their guy who's gonna

3:37 look out for him on the board is no moss, you know? Yeah, but it's for the betterment of the people, Chuck. Right? Yeah, the,

3:47 I don't know, that's an interesting point about the employees having someone in their corner. Especially with a mega, I mean. It's not just like a two-like-minded, independent, it's not like a

4:01 Devin's or X thing. It's like full-on. But I mean, that might work out better for them. You know, I mean, this isn't Exxon's first rodeo doing this. You know, we've done it with XTO, and so,

4:13 you know, I'm sure there's lots of people that have opinions on how that

4:20 went. But, you know, it'll be, you know, I'm sure it'll work out all right for everyone, at least in another office. One of the most disastrous mergers in the financial world was when

4:33 Credit Suisse first Boston bought DLJ, and, you know, it turned like they had all these overlapping functions, everybody on DLJ got fired or left or whatever, and there was one DLJ employee still

4:50 there, And he said, you know what, they can't fire me. 'cause at the end of the day, then they would have to admit that they bought this for nothing, so they at least got to keep me around. And

5:02 one of our friends wise cracked back and said, Dude, they're ready to just fire youand forget the whole thing.

5:10 No, I mean, board meetings actually matter. And when you have people in the camp

5:18 saying things, it matters. And so Pioneer kind of lost its voice in the Exxon Board meeting So that's, that's a.

5:28 So speaking of board meetings, I'm gonna take care of the Segway since we don't have kirk. I like it today.

5:36 Brush your annual meeting happened. Check did you pay any attention to this? I actually did, 'cause you know, if you think about it, I mean, warm buff, it's a big dude in energy, right? Oxy,

5:47 yuns, the various utilities. I mean, the reason we don't have a pipeline system is 'cause he owns the railroad and stopped all that, but we really didn't get a lot in the way of energy news coming

6:03 out of it. The big things were he talked it up on having a lot of cash. He's not gonna pay, he said him paying a dividend was actually a mistake. He'd rather have the cash so he can invest, he

6:18 can buy back stock He sold almost 15 of his stake in Apple and it was based on valuations and capital gains tax. The one thing he flirted with on energy is he said AI is a big deal. Now he kinda

6:37 comes at it from the camp of, it's any, made the analogy that's like nuclear, we need to have some caution around this. but he saw a video of an AI video of himself and he went holy crap, we're

6:53 gonna be doing this all over the place. So, it's all he took was him to see a deep fake. Yeah, a deep fake, he's like, but one of the things we need to be thinking about and this, you're gonna

7:05 think, oh, by the way, I gotta show you all this hat. This is literally lined to protect you from a 5G It's literally

7:18 a temple hat, a buddy of mine said, I've been listening to your podcast, you're crazy, so I got you this, so I'm gonna start wearing on it. But one of the things we need to start thinking about

7:27 is,

7:29 we're gonna have to build all this existing power generation, transmission to meet all the demand for this. Do we start looking at it through the lens of what is warm buffet on, and that's gonna

7:45 benefit? Yeah, just like the railroad stuff. I mean, no one would have thought we were gonna have trouble building all those pipelines and what would we do? It's kind of an interesting thesis.

7:54 Yeah, just see where - He's got, he's got Paul. See, I was also 90 some odd. Yeah,

8:10 it's a lot of how much longer does he have Paul for? I think the, I think the selling apples, actually the most interesting thing off that list. I said, as an Apple holder, I agree, especially

8:10 'cause they just announced their buybacks last week and the rest of the - Well, that's stock shut up That's what's interesting to me is that I can't remember, I can't remember the dollar amount on

8:20 the buybacks a lot. It was a lot. And that's typically negative signal for companies that are supposed to be innovative and growing. And now you made the

8:31 case that Apple just has a shit ton of cash slashing around. Slashing around. Every time I'm like, hey, maybe it's a good time to sell. I just can't bring myself to 'cause it's like, they

8:40 literally have more money than countries But I think that company is just.

8:45 absolutely lost without Steve Jobs, which I mean, it's like, the best companies in the world are, are still founder, founder led. You look at Nvidia, Facebook, Google, you know, these types.

8:58 Um, so I don't know, you know, people have been saying that apples lost their way for a long time, but they keep coming out like that, that M1 and M2 chips and their computers are fucking amazing.

9:09 Like they're amazing computers, so they're still shipping good products But yeah, that's it. I found that to be the most interesting thing, but I'd be interested to know Buffet's real reasoning.

9:20 You said that in some days, there was, you know, there was talk about higher capital gains, tax happening. And then also just talk of not understanding valuations today. Like how can it be that

9:33 high? Yeah. Yeah. Which, I mean, for Buffet, that's what it's all about. It's like, he's never been a growth investor, right? It's always value and looking at. I mean, it's best from Bill

9:44 Gates and he didn't even own Microsoft. He said they flew together to Japan one time. So they talked Microsoft for 16 hours or 17 hours, whatever it was. And at the end of it, Buffett said, well,

9:59 I think I understood it enough. So I went and bought a hundred chairs.

10:05 So coming back over to high growth company startups, we just had a startup that raised30 million a

10:15 geothermal startup. Oh, I just got paywalled by Forbes. No way. No, I'm not paying the 50 bucks. Annually, you crazy. Also, why do we still pay wall content? Wasn't people still pay wall

10:19 content? Dude, I'm so unprepared right now. Zans guard. Okay. So the post, the total post came from Joel Edwards. So 30,

10:40 million dollar financing and let me read their post here so that we can have some context on what they're doing in geothermal. So they say we use large volumes of geospatial data and a big field

10:51 program to find new geothermal resources. We found more sites in the last two years than the whole industry in academia have found in the last 10 years. We find these sites that are fraction of

11:01 historical cost by leveraging cheaper data collection methods and making better model predictions. A virtuous feedback loop that only improves as our program keeps scaling. We built thousands of

11:11 physics constrained models to simulate geothermal reservoirs, then predict geophysical data, and compare those predictions against real geophysical data to find truth at each site via a process of

11:21 elimination, circumventing local minima traps. We utilize large in arrays of

11:29 seismometers to detect seismic signals produced from geothermal reservoirs, and then build images that locate those sources.

11:43 Imaging the plumbing networks of reservoirs at many operating and greenfield sites, a long held hope in the industry. So that was from them. That's what they said. I'm gonna read next wave EMT's

11:48 comment real quick 'cause I thought it was good commentary. He said a missing quote for this AI for geothermal fundraise, quote unquote, we're specifically targeting investors who have zero

11:59 experience in anything subsurface and thus can't discern reality from fantasy sci-fi hype machine we're trying to sell I thought that was funny because let me say why it's funny because there have

12:10 been a ton of companies and fraudulent companies over not just last few years, but I'm talking last 10, 15 years, I say, hey, we're

12:18 using AI big data to find subsurface oil and gas reservoirs. And we have this

12:24 proprietary data and model. And, you know, we find we find the best rock. And so it's very, it's very reasonable that a guy from oil and gas would be like, yeah, I've heard this before.

12:38 What do y'all says? I think geothermal is real,

12:43 but I do think it's gonna require the changing mindset of Australian oil and gas well, and then love a whole use it for geothermal. I think every take on that I've always seen is a 5 rate of return

13:02 on something. So I do think they're gonna have to spend some money to figure out how to drill cheaper or whatever the case may be, but they're gonna utilize a lot of the oil and gas technology, but

13:15 they got a special purpose build to just geothermal. I mean, that's what - So somebody's gonna do it. Thermal energy's doing a really good job of taking oil and gas applications and methods and

13:26 applying it to geothermal, but I just don't know if AI in big data is the secret sauce here to picking reservoir, you know. finding reservoirs and locations that are. Oh no, I could drill hot

13:41 water wells with the best of back in our days. We built some of the finest hot water wells in the low bow over and over again. Well I guess. Show me some low resistivity bay. I'll show you some

13:53 hot water. It's gonna say it is if that's where all the funding currently sits right now, right? Like that's the story you wanna be telling if you're trying to raise money, but that doesn't mean

14:02 that it's - That is a good point, right? It's like anything that you're doing, okay, we're baking cookies using AI. Yeah, we're drilling geothermals. We trained a model on Otis Spunkmire. That

14:15 those are some fucking good cookies that they are. And so, I don't know these guys, so I don't wanna bash 'em 'cause I support anyone that's trying to do stuff, but it is, like I can see next

14:29 wave's point of why he's skeptical 'cause the only guess is seeing this pitch a million times, so especially, I mean, especially. focused around tech. It's a lot different if it's like, Oh,

14:41 here's this new tool or here's this new method or whatever. Here's my black box that you don't know what's in it. That's it. There's a story. I can never remember the company's name, but I have

14:53 to go find it, but there's a story and I didn't know about it until

14:59 it was when the dude from Google got up in front of everyone. I think it was either a neighbor OTC and told them that Big Tech was going to come solve all of oil and gases, data problems, and like

15:10 that did not sit well with oil and gas crowd, and this one guy posted about it, and he shared this story, and the story is this guy goes out, says that he has this new proprietary technology using

15:26 AI and all this shit to map out oil and gas reservoirs, and it's done from using geospatial data, from proprietary, from imagery. and raises a ton of money from

15:44 like, who's the guy climbing? Bill Gates, it was - Fine or Perkins, John

15:49 Dorey's got a lot of like, respectable, smart people raised a shit ton of money from them and he went out and bought like these fighter jets from Russia and apparently they're still sitting in some

16:00 warehouse on a symbol somewhere in Texas and the whole thing was a fraud. Like the whole thing was a fraud And I would need to index that company's name. I'd always forget it. But so it's not the

16:14 first time. 'Cause you can't even find it when you Google it. No, that's what it's hard to find information on. You have to know specifically the company's name. And so maybe BDE, listen, or

16:24 we'll chime in and remind me of the company's name. If not, I'll go, I'll go hunt it down and find it. But John, to your point is like, that's it. It's like, if it's a new tool in the toolkit

16:35 toolbox to utilize. to increase drilling or production or anything like that. Okay, but, oh, we have this black box. Yeah, give me a quantifiable thing. Like, oh, it increases the ROP, or

16:49 it increases the production, or it does something. They had a comment that they've found more sites to drill in the last two years than the industry has in the last 10 years. And I would push on

17:00 that to say, okay, have you drilled them and commercialize them? That's just, yeah, it's just - I know lots of links, I know lots of geologists out there that have the world's best prospects.

17:10 Mm-hmm. Maybe we'll see 'em

17:14 at Nathan's here. I've seen a million black boxes in my career or on, you know, we've got this. The two interesting ones were, Stevens was looking at something and the guy said it worked and all,

17:28 and basically Stevens was like, all right, you get in one of our planes and we're gonna go fly you where we want. And we, you know, in effect want you blindfold. So, so basically the Stevens

17:40 jet flew over Stevens oil and gas field. So they had kind of perfect information and the like and the, the black box failed miserably as I recall. Did it? Yeah. Didn't, didn't like the outcome

17:55 of ASUN very much. Yeah. Yeah. And then the second one is, uh, this year at NA, geologists have known for 25 years I don't know him really well. He claims he's got an effect, a black box that

18:13 tells you where oil is and he talks some guys into going 175 miles from the nearest oil well and it was somewhere in a mountain and they drilled something and they found an oil deposit. Now it was

18:28 heavy oil So it's not economic at least at this point yet to drill, but he's like, See? My black box works. Yeah, that's one of the crazy things about the industry that I feel like outsider,

18:42 just people that aren't familiar with it, don't understand is it's like, we've known the shill reservoirs were there for years, like that the technology is the part that unlock them, not the fact

18:53 that they exist, right? And it was technology that we've known about forever. I mean, we drilled the first horizontal well. Offshore in the 1930s I mean, John Wilkes Booth before he shot Lincoln

19:07 was throwing dynamite down well, well, bores. He was fracking. I mean, it was a little cruder. The concept was the same. So yeah. Um, yeah. So we'll figure the name of that company, but

19:21 yeah. Yeah. So, um, now that we've just slammed the sand scar, we truly don't know anything about them. No, I don't know anything about them. Don't know the founders. Could be great. Come on

19:33 the podcast. Yeah, don't other backgrounds, but we'd love to hear more about it, obviously. And quick, hear about what they're doing. Quick follow up to last week, because we were talking last

19:45 week on BDE. We were talking about Europe and to meet their EV goals by whenever 2035. They were going to have to put in 22, 000 charging stations. So some updates from the United States Elon Musk

20:02 just fired everybody in Tesla running the charging stations because he was trying to get him to unify around one standard. All of them. And that wasn't happening enough. So boom, that. And then

20:16 Freewire, which was kind of this high flyer charging station, they did some stuff with batteries. That was supposedly their competitive niche is they could go in and not have to require all this

20:28 fancy wiring from the utility.

20:34 and

20:42 they had deals with Chevron, GM. Three bars legit. I'm friends with the founder and CEO of - Well, they just closed the headquarters and fired everybody. Close the headquarters, which I hate. I

20:43 hate to hear it 'cause it was cool technology and

20:47 the founder and CEO, his name's Arcadian, super sharp guy.

20:53 But yeah, what they were looking to do is, and they're also a portfolio company of Blue Bear Capital, which is, but shaped Blue Bear was, I think our first podcast on oil and gas startups,

21:03 podcasts way back in the day. Really good friends of RC. I know them from. That's how I met Arcadian, the free-wire team. But it was cool technology, 'cause essentially, their tech was, hey,

21:17 these gas stations aren't gonna be able to just install a ton of EV chargers, because - Make a lot. Yeah. infrastructure would be too much load for the grid, and so they built this distributed

21:30 energy tech essentially you could install these chargers and it would charge up. I'm

21:37 bastardizing how their technology actually worked, but yes, using combination of batteries and

21:43 ramping up the amps right there. I had this site,

21:47 capital intensive business, hardware, it's - Well, and they're so, like everything around the EV space, it's still so early, right? Like adoption is early for EVs, so it's like how do EVs?

21:57 These are just getting wrecked right now across - Right, like on top of everything Yeah, they're getting destroyed, so it's like - You know, what was cool is like they had free wire. We should go

22:08 talk to them about this idea, but they had applications for like ginsets and oil and gas, just like how you always have your diesel light plants out there and shit, like to replace those. And so

22:19 it was cool because you have this technology where you can store energy, you have analytics based on the usage, things of that nature So, you know, it's too bad. I think they had. 125 employees,

22:32 the article said. So everyone's getting let go and shuttering the doors. I think they just raised125 million Series D two years ago. So they haven't had any funding since then. But yeah, it's too

22:50 bad to hear that. But it's part of the beast, you know, even get to Series D raising100 million plus rounds in a hard tech and it's still not guaranteed in two years of two years of a run away. We

23:03 just, you know, we just don't focus enough when we talk about the energy transition that the existing energy delivery system, particularly in America and most of Europe, it's already paid for,

23:18 you know? So anything economic is competing with a system that's already been paid for and fully depreciated And if you want to go install, you're really. Competing kind of as a new build and yeah

23:33 economics are just tough. Yeah, you know, I think We talked about this on last week's BDE. We talked about the amount of chargers That we need that were forecasted That we need compared to what we

23:47 actually have and I can't remember what the number was off the top I was you're needed to do 22, 000 a day. Yeah, and a day Yeah, 22, 000 a day to meet their 68 million or whatever it was And I

24:01 was like unless it's smoking cigarettes Europeans don't do anything 22, 000 times in a day. Even that is a challenge

24:11 Like that's insane, but yeah, that's and you're talking about Tesla like I mean the Tesla Charging protocol is the best. I mean Tesla hands down how's the best chargers and it's actually kind of

24:24 simple They just fucking work

24:28 yeah, they just work whereas theoretically you can make it Anywhere in the United States. Yeah, yeah. I saw a couple of chargers. You and I have been talking about EVs for a while and I've been

24:35 just creeping on EV cars and stuff. And I saw something, some article that Ford was, I think it was Ford was coming out that they were gonna make adapters or go over to the Tesla standard. Yeah,

24:47 no, they adopted the

24:49 Tesla charger. Yeah, which is huge, they should. Absolutely. Well, I think that's the big thing, I'm not an EV owner, but everyone that I know that I talked to about it, the big thing about

24:58 them is it's like, yeah, it's just, it's a bunch of different companies or third parties, if they're not a Tesla owner, right? Then it's like, you have to have different apps and different

25:06 systems, it's just like anything else. They go like these charts. Like these charts. And they, like the chargers don't work. Yeah. Like that's a common thing. You go to these EV charging

25:14 stations and the chargers are broken and they don't work. And so Tesla just set the bar with like, yeah, our shit works, plug in and it works. And so. It's gonna be interesting to see what

25:26 happens there the thing. let everyone go. It's crazy. I wonder what the, I mean, Tesla's got to be hurting. I mean, John, I've been looking at these used Tesla prices. It's like, it's hard

25:39 not to buy one because they're so cheap. They're so cheap. And then there's a4, 000 used EV tax credit to if it's under25, 000 within two or three years old, you pick up, you pick up like it.

25:43 Pick up like a Tesla for like 17 grand. Yeah. Are you serious? Yeah. Oh, wow I'm

25:58 like model three miles. I literally just removed my Tesla charger from my house because I'm having to rebuild that deck. Oh, really? Yeah. Yeah. They're on the side. And the contractor came to

26:08 me and was like, do you mind if we take this away? Because if we hit this, we're going to die. I was like, yeah, I'm not 220 volts to the. Yeah. I was. Let's see if I'm find this. Post from

26:21 the sky. But he bought a Tesla. And he's I was like, man, Tesla has been my favorite. purchase. So it was awesome. Can't find it on Twitter. But anyways, he's spent like 90 grand on this

26:34 Tesla, it's all this one. And he's like three months, like three months later. It was like 50. Yeah. And then he's like, I don't even want to look at what they are of it is now. But he's like,

26:47 yeah, I didn't buy it as an investment. Like, that's what people are like, well, do you buy it for utility or for investment? And it's like, well, about our utility, but you like for100, 000

26:55 cars to hold value. I mean, so I wound up selling my Tesla and my H2 right at that point in COVID when used cars were through the roof that you probably didn't paint. And new cars were still at

27:10 less price, but you had to find one. So that's how I wound up in the genesis. Had you told me, you know, 25 years from now, that Tesla will still keep 125 mile charge or something. I probably

27:25 would have kept it because I'm man, I love that. car. Yeah. But I was just scared. I go out there one day and the batteries don't work. And that's not weird. Like, I'm kind of weird about

27:35 buying a used DV because it's like, how do you, like, I don't know, how do you, how do you, the battery warranty? Yeah. Apparently they do not transfer. They don't transfer owners is my

27:45 understanding. Oh, really? Because I've been looking at even like, not even just like the warranty, but it's like, how do you, like, how do you know if the battery's good or not? Like, I

27:52 don't know how to check it. Yeah. Well, somebody charges it to 100 every day for like three months. That supposedly blows the battery. Yeah. So, you know, some concerns with that. I saw this

28:02 chart the other day. Someone shared it on Twitter. You know, that meme where it's a, uh, it's a bell curve and it's got like the dumb guy on the left hand side and the smart guy on the right hand

28:11 side. That one too. The dumb guy and the smart guy had Toyotas. Everyone else had like jaguars and BMW Audi. And yeah, as I go like this, well, I got a Toyota 200 and a Toyota Camry. I don't

28:23 know if I'm on the smart side or the dumb side, probably the dumb side, but Regardless, this is always a safe bet, yeah. It's gonna be interesting, like if this introduces any more FUD into that

28:33 already really fragile EV market, or it's like, well shit, if I can't charge it, then it's definitely not gonna be worth, like if you just laid off the entire charging team. But that's what's,

28:44 I think like a little bit catastrophic about it is like no confidence like. Right, in the future. Okay, I buy this Tesla and then what two years later, if like there's not maintenance or chargers

28:54 on it, like what do you mean? Well, yeah, you look at, I saw an article on Twitter, they were talking about this guy or maybe it was on YouTube, but they were talking about this guy's, I think

29:03 it was a Fisker, it was either Fiskers or Rivian, but they ended up totalling the car because they couldn't find, there weren't enough parts, like they literally could not find. And it was just

29:12 like a fender bender because of bullshit actually. I don't know if Falsal, Rivian had this demo day. I've got some cool stuff coming out. Couple days ago. And everyone was talking about how like

29:21 reminded them of early days Apple, early days of Apple There's people like lining down the block to get in. They've done one, Rivians are a really nice product, nice cars, well made. They've

29:32 done a really good job. And

29:35 they've got this really deep cult following to around them that's building mountain. There's just a lot of interesting dynamics 'cause a lot of people are like, I own a Tesla and I was Elon's

29:49 biggest supporter for Tesla. And now I can't stand him in his political views and I wanna get like, he's isolated. So weird. The first early adopters of Tesla's were greenies, saving the

30:02 environment, typically hyper liberals. And now they hate Elon and the right is loving Elon and you see more people supporting him. And I'm like, Elon, like if you truly think if you save the

30:16 planet, which I don't think they do, I think that they're a good product. I don't think that they save the planet It's like Elon's converting the far right.

30:24 into adopting EVs. And so there's just so many weird branding dynamics going on right now and some people are like piss off. It's like, I can't believe like, he's catering to the right and they're

30:40 buying EVs. I'm like, shouldn't you be happy? Isn't that what you wanted? Isn't that what you wanted? Yeah, it's not what you wanted.

30:47 He voted for Biden, you know what I mean? It's still - Yeah Yeah, it's sorta understand why the left hates him so much, but anyway. I don't either. But the new Prizes, too, dude, have you

30:59 seen those? Yeah. I never thought I'd be ordering these words. Like, damn, dude, the Prizes look kinda sick. Have you seen like the slammed modified one? They look so good, even when they're

31:09 just - How they look, like they look cool. Like, they look like they don't look like the little virgin wolf. Stop, they look great. They don't look like the virgin wolf. That they used to Well,

31:18 this was funny, this was probably 10 years ago.

31:24 LA and I had all our

31:26 CEOs, a Bob Sinat's house. We're having dinner and Rick Kane shows up. I mean, he shows up in a Prius and it was all like, well, that's our boss. We can't really say that.

31:38 So anyway, we had the sprinter van that we were carrying all the CEOs around

31:44 and something happened. It broke down in front of Bob's driveway. And so Rick literally drove his car across Bob's lawn to get out of this Prius. You drove the Prius across the lawn? Yeah, it was

31:58 funny 'cause it's like, okay Rick, 80 of Kane's assets are in oil and gas. So glad you're buying the Prius to save the world. But then this surreal moment of seeing Bob's and not my boss have his

32:12 boss trying to bark right across the lawn. I'm like, Bob, I guess we all got a boss, don't we?

32:18 That's hilarious Hey, last thing real quick, we'll just mention this. And there's no real reason to talk about it, but supposedly Hamas has accepted the Egyptian, I think it's Qatar proposal for

32:34 a ceasefire and early reports are Israel is not accepting it, but that is something to watch. I mean, I don't know how much, but there is some kind of war premium in the price of oil And I think

32:50 in the last 30 minutes, we've seen oil drop 10. Now it's bounced back up. So anyway, got some more to come. All right, well, we will see you guys next week. Reminder, if you've made it to

33:06 this whole episode, we will be in DFW next week for Doug and having our energy tech night on the evening of the 15th. So hope to catch y'all there.