First Friday Q&A on Oil and Gas This Week- OGTW194
You're listening to the oil and gas this week podcast with Martin liqueur and decor Vizo for physio improve quickly. Want to keep their finger on the pulse of what's going on guys. Welcome back to another episode of Oil and gas this week. Podcast listening to episode one ninety four. What's up market Super Bowl Sunday? It's super bowl Sunday. Jake added do something that broke. My heart was that I had to get rid of my G. Thirty seven really. What happened loss of transmission is about five grand to repair? It had one hundred fifty thousand miles on it and it just didn't make fiscal since so. I didn't go buy a new car about two new cars early. Did so about an Infiniti q fifty which is a small SUV. Because when you want for work then I bought an Infiniti q sixty sport. Which is the newer version of my old car? And then Jake. I don't have the car yet so my garage right now. 'cause I ordered sues up the car I have new down pipes a bigger inner cooler new air intakes performance flash new exhaust. So I'M GONNA go from four hundred horses to five hundred horses bullets stuff on some excited. Does it sounds like he's not a bad deal for you. Then well I always go buy new cars anyway. I just Jacob Audience. If you don't do this chicken I love cars and when your car person you really form an emotional attachment to the car which you really do. If you're not a core person sounds bizarre but if you car person till it gets off felt bad you know when I went to trade it in they took it as a trade in my felt like you know my clothing was passed away and they wanNA start cleaning out the car. Filipo stripping that person's jewelry all of them and just leave it with the budget strangers. It's what I imagined. Pet people feel like because I'm not really like have pets but I'm like a super over the top head person so imagine just taking your pet somewhere and just trading it in for a new pet. Yeah it's the same feeling you know but I was very lucky back to dealership. Take care some other stuff and. I saw the person that bought the car I got to talk to them and they bought it and they will put bigger do with themselves use transmission back in it so you know now my car is can make someone else happy which is cool. That's awesome an guys relations. So let's see what happens but it was not a fun thing to have to do and and the funny thing is. I was all cocky and told the salesman. I said that you've never sold two cars at Saint Time. Because I've done for like damn. What if the record and speak at a record we got some reviews? This is quick to the point by Kale. Jd from Malaysia cooled listeners. Malaysia big shadow no fluff informed opinion. Good work jets love it and then Bristol Dan from the UK. Love this podcast working on gas in North Sea and love listening to this podcast from across the pond. Keep them coming Bristol. Dan L. We gotta third shoot just what I need from. Am One five four seven for the United States this podcast. His formative across only gas. Not just a subset. I appreciate that Short enough to listen to on my commute and get an overview of the happens when I want a deep dive. I've been can do the research. Keep up the great work and do not shy away from politically driven misinformation being fed to the public on this lifeline. Modern Life I tell you what a one five four seven Jacob Ruth you hundred percent we will keep it up and jake this the first Friday. Qa So let's get in the questions you guys know what that means you guys writing questions. We answer them so first question. We're just GONNA dive in. Saudi guys may not know this but we don't take every question that's written in. We'd a lot of crazy off the wall stuff. We just had to leave one in in. Maybe we can help. It's a glimpse into our daily life. We had a write in from an Ed Eretz. I'm trying to look classmate named Michael Market. We are having a class reunion this February twenty first twenty second and twenty third if you know of his contact information police force this to him even if he cannot come with like the update. Contact Information Antelope High School. Class of nineteen sixty six. So Jake. We're now the loss classmate finding podcast. But I'm telling you if he might knows who Michael Market is and he'd graduate nine hundred. Sixty six highschool seriously sent him away so we connected with Edward because if we can help somebody find a law classmate. Why would we not do it? Some real questions. So we have a question from tyler engineer. He writes hey guys a work a lot around natural gas flaring and wonder if any individuals or companies you can connect me with for crypto mining to use our excess gas as a profit center or is it something no one else is doing. I think there's an opportunity and natural gas flaring space for cryptocurrency mining. There are a few companies are actually doing it. Crew so energy systems I believe is one of them which is backed by the wink of twins. You've got petroleum. I believe is the name of the company that's also doing the same thing and then there's another company. I can't remember their name but actually talked about five or six months back and they're also in the space they're funded half the teams from Royal Hatha teams from Silicon Valley Gas. So there are people that are actually doing it. There's a lot of questions around the viability of doing this. And there's also potential implications like in the event that you were to flare this off. Do you owe anything to mineral owners such and such a lot of accounting kind of questions around that but yes there are companies. That are currently doing this. Hey Tyler reach out to surgery with easy. Blockchain interviewed the Tech podcast. This is exactly what they're doing. They have portable mining equipment that runs off flare gas. Use My name reach out to Sir J at easy blockchain and is have a conversation with Jake is exciting that this is potential other revenue stream for industry. We haven't worked out all the wrinkles yet but I just think it's awesome. It's awesome considering a lot of places. Its native differential in gas. It's becoming more of a cost than it should be. If you can put to good use and turn it into some meaningful revenue. I think that's exciting up next. We got a question from IMF Ynez. Vp OF BUSINESS development in world. Service Company your as you ask for feedback about your political views. I am in my thirties. I have fifteen years of experience in the industry. I'm an American living in Norway. Consider myself a liberal. I listen to your podcast and always take it with a pinch of salt. I want to hear the news and trends and I think listening to. You is worth my time for this purpose. However I also think you're too political the amount times you ask you. What a vote. A specific ways. Not Necessarily Times you put down. People groups and government with views is counterproductive. If we want young people to work in our industry we need to approach the conversation from a consolidation perspective rather than polarizing landscape. Young people can be Democrats and environmentally friendly and work in the world. Yes industry seems. You're constantly against these types of people. Jake have we ever asked anybody to vote? Actually we have when there's anti only guys state legislation like in Colorado or California. We have asked people to devote the right. So yeah I'll take that but the other thing is you may be surprised of Matthews is. I'm not like the staunch conservative. That doesn't like Democrats a moderate a lot of the liberal viewpoints specially socially. I fully support. Believe it I just think only gas industries is taking it on the Chin and there are people out there that don't understand our industry that are Louis our politics. It's hurting all of us including you. If you work in industry so I do really honestly sincerely appreciate the feedback. I WanNa know of people that were to political on the show because if you listened to while you made the statement that I will get much more personally and professionally involved politics. 'cause I just have to to fight for my industry but I do really appreciate you reaching out and I love Norway. By the way it's funny once you get to know me a mesh that a very political person. I'm not a Republican. I'm not Democrat. If anything I would ally myself with more libertarian. But even then I'm not one hundred percent in that camp I think if you're one hundred seventy camp. I just think it's realistic. I think we all have different views on different things different topics but one thing that I am definitely pro is our industry. We love our industry. We know the difference that it makes them the world the abundance of hydrocarbons especially the United States provides us with an amazing life. That you know. It's very easy to see if you will country. That doesn't have that the difference that it makes in the quality of life and so I will go to the Meserve to protect. Our industry is to educate people in our industry but in terms of I'm definitely not pro trump anti-trump. I'm not like I said I'm not a Republican or Democratic so yeah unapologetically one hundred percent. Four our industry and so. We'll continue to do that for Tom. But thank you for your feedback ruler. Do appreciate it. We will try to be a little bit less political moving forward. Even though I'm not be all right affects question for Mary shirts. Hi thank you for information. You were providing. My question is regarding the future of the industry. My daughter is going after degree engineering in Texas. Would you recommend such a Korean willingness to your children? Thanks so much. We'll take it. That's not even a hardwood because by the time my son's fourteen by my son gets out of school is a huge short ship. Petroleum Engineers. Make Big Bucks. Yes that's one way to look at it. I think if I was to give advice my son's only two years old so it's really really speculative to see what the world's going to be like whenever he's old enough to actually work. Let's seize in his mid twenties but I'm seeing a lot of the writing on the walls that traditional reservoir engineering is becoming and this is not my words. This is in the words reservoir engineers that I worked with them. No is that it's almost becoming obsolete due to the democratization of data in so my suggestion would be and I was actually talking to an engineer day would be. I know a lot. I've said this so they can last episode. We Won't before I knew. A lot of mechanical engineers that are software engineers and a lot of mechanical engineers their petroleum engineers and a lot of mechanical engineers. That have done a ton of chemical engineering and so it's such and so forth and so I feel like it's a really really safe bet with an emphasis on engineering in the event that something catastrophic does happen. You know in the event that you're not an entrepreneur in you're at the mercy of your employer mercy of cyclical business. It is good like we've been talking about to kind of just head yourself just provides much more value to the market as possible so thing. That's one way to do it. Also I think everybody needs to be schooled up on data science especially in this industry. Most companies are becoming data companies first and foremost and whatever their actual businesses is actually becoming secondary. So if you understand that you can position yourself in a way that yet come into the Willie yesterday and I'm not saying don't come to the oil industry. I'm just saying you know. In current times when we're seeing a major restructuring especially shale though are going to be a significant amount of layoffs just. Because you've been hearing degree. Does it mean that you're safe. K? So let's I never want to convey that anybody and that's that's true really of any degree. You did. Bring up a good point jake in that. The actual degree and petroleum engineers very niche tisby uttering specific. That's who tends to hire telomere so you do deal with the boom and bust cycles in like Jake said you need. Some other jobs sets there as well. Mechanical engineering our interstate. Jake all over place. You're right I mean most subsea engineers start off as mechanical engineers aware. Just like you. I've seen a whole bunch of people that write in code. That are mechanical engineer. So I don't know if you can get a minor petroleum engineer with a major in mechanical but the Jake's advices very well spoken and if your daughter does decide to become a petroleum engineer she does need to pick up some big data skill sets absolutely already up to the next one. We have a question from Jonathan Landman. He writes hey mark and jake law the podcast. I haven't Mrs Show since funding and a couple years back I suffer. That's amazing. Thank you for your support. That's really really awesome to hear going on however I am wondering if you have any recommendations for a daily oil and gas podcastone energy podcast in general oil and gas and related issues is not only my job but also my hobby and I love learning about it and staying up to date with daily new surrounding the industry. I found that podcasts are such an easy way to do so with my commutes in the work that I do. I usually listen to three to four hours worth of shows a day. I'm not able to find anything to fill this one need. Have you ever thought about having a daily show on the network recommend any other shows? Thanks to keep the great work suggest. Talk about you in college you. Yes so. There are other podcasts. In the space. If you don't know this I also co host oiling. Gas Starters podcast where we talk about the stories of founders in the space not just tech companies that's common conception but also emp founders mineral fines midstream companies water companies. Things of such as much as we would love to do a daily podcast and. I'm sure I'm sure mark would love to do that is a ton of work. And if you don't know like I also have business to run the side as well and that's you know a majority of how I make my living and so I think it's a great concept. I think a lot. He would actually love it. But we're not to the point yet where we're like the Bloomberg of oil and gas to where we have just endless amounts of funding and we can hire all these people to do daily shows and stuff like that but I would love to do that. Think it's phenomenal idea. I just think it's GonNa take a little longer to get there. Yeah so Jonathan. I'd never really thought about it because if you listen to the show for any length of time Jake lucky to get what how to week. You and it's just because we're so busy and when I read you know that's a darn good idea. So it's in. I thought book for Twenty Twenty. Don't know if we'll be able to do anything with other thing. Jonathan August global networks. This group we have eight oil gas podcasts. As of today and we're watching three more the next couple of months that we're trying to fill his needs with the daily show is that's a huge job and work and we're just not there yet but I do have the idea save because if we manage to get there I would love to. Do it absolutely stinks for Jonathan Up. Nice adequate from Jane's. He's a front consultant with longer. Reach wells better. Directional control and ever improving technology. Is Rick Count really a good indicator? Besides as fracturing wells not drilling holes that counselor should be watching the FRAC pump count instead? Please explain darn good point. Because he's right years ago. That recount was a huge indicator but also depends a what he's trying to track. I don't know if he's trying to track drilling production our completion. You know if you're trying to drag drilling and of course it recounts probably really important if you're trying to track production that's a harder one to do if you try to track completion. I think the FRAC pump count actually would probably be a very good indicator of that. Yeah I agree I think the recount only gives you a little bit of a snapshot of the actual entire picture so maybe we were thinking maybe includes Brotherston that what do you think mark. But I don't know if there's enough out there that has the resources to track FRAC PACs actually audience if you know of any place where that's being tracked online especially let shaken. I know because I would love to talk about that. When we do the recount we all do the Frat pack count so if if there's a resource out there let us know all right next question from Mike. It's guys I talk about the industry of hydrocarbons petrochemicals how they're something most people don't WanNa talk about when the thinking about oil and gas industry motion sink burning gas release going to be huge for the industry. How can invest in the growth and success of these things specifically and not just big oil company stock? If you had the same advice for methane hydrates. They'll be very welcome to jake. Is it me or is Michael Confronts to give him investment vice a sound a lot like investment advice or if we should start a show you mortgage aches unofficial investment? Advice can be like Madmen Uwe. Jim Cramer that would actually be fun to do. So a couple things like this off top of my head. Check out light as visible light L. I. T. Polymers. It's some stuff. That's come out of the R D labs I think of MIT. Let's go into commercial production. It's literally imagined plastics. That emit light like an led when you apply power to that's GONNA be revolutionary and. There's no big company jumped that yet but I'm telling you I think in the future like like I'm GonNa Invest Money this personally. The other thing with the methane hydrate. That's a really good question. There's two places I would look there one is. I'd go check out. Japan Japan is working with a think. Maybe you're on think it's Konica Phillips on see if they can make this commercially viable and if you don't know what methane hydrates basically it's ice that Burns so to the bottom of the ocean floor just sits on the bottom of the ocean floor in deep water and it's literally crystal methane. That is the pressure the pressure so high. The temperatures are low that Lee forms methane ice. There's more hydrocarbons in methane. Eisner is actually an all-round force. Who's got to figure out if we can tap into it commercially. That'd be the first place I would look at than other place. Go CHECK OUT. It's starter. Start Your hyphen up or start up. Something like that DOT COM. They actually looking for investors for a project to convert methane. Hydrate took commercial fuel supply. There's two placing a look for that. There's a place you can look for the best investment than told you were to go look for on the petrochemical size at that. Light Polymer type of stuff. Anything you throw in your jake now has been. We try not to give stock investment advice up next question from Adrian. A sales rep and logistic. Supervisor I've been listening to podcast recently. Great job so my sales rep for a company that provides equipment too many in hydraulic fracturing out of the Permian Basin. I'm near the end of my twenties and I've gained interest in the corporate side of the industry. I've decided to return to school. Northern transition to a more corporate environment in the advice on this transition. How can I familiarize myself with different career choices? Mark you probably better suited to kind of tackle this one than I am. I'm not quite sure. What Adrian's Afghan so the corporate side of what she's doing now so instead of being in the field as a sales person on the corporate side of hydraulic fracking or just the corporate side of the major super majors. I I guess I could tackle both. I think I actually come from a sales background. And I actually transitioned into the corporate environment and I wish I didn't. When I was early in my career I would have stayed a frontline sales person. Because you control your destiny and you know if your top performer. You get what you want. You get paid very well. It's all under your control. Where's she ended a corporate world? You're relying on a whole bunch of other people didn't like that transition. There's my two cents of that if you're staying with your company if you go back to school and want to get like on the corporate side of the Super Major Service companies and all that. There's a bunch of different places you can go. We keep talking about all the data science type stuff. But another thing is if you have an inkling for accounting or an inkling for legal. That's something that is always in big demand in the oil and gas industry save project management. You know you can become a project manager and get on the corporate side and mega-projects now the interesting thing Adrian if you really want to climb the ladder and getting that C. Suite as far as I could think every executive that I personally do in oil and gas industry has done a time in sales every single one up because when you get to that level that ability to communicate to people convince them to agree with you and work with you which is what sales is comes in. Great play when you're an executive to run a company so I would be too worried about what you actually get your degree and get something that fits your personality and then when your final question to ask the different career choices. Good with a job. Boards like rig zone has won a little antiquated as far as the way it looks but people still posted a lot of jobs out there. Also go to Lincoln and see what companies are looking for. That should help you. You narrow down what you WANNA do with the rest of your career absolutely agree hundred percent up next question from Stephen Hughes. Vp special projects. You're as hey mark and jake listening for several years and led the podcast once again. Thank you for listening to the show for that long. It's crazy to think that we've been doing this since two thousand sixteen. You've been doing it longer. And people have been listening for years on end so I don't know what's crazier that which we'd love. Y'All are existing audience or our new audience that go back and bench. Listen to us over and over again. I mean Jake I love. You could listen to your voice. One hundred sixty right there with you. So going on one topic comes up frequently as they continue need for fossil fuels and my question is along those lines according to page eighty three. Ps Two thousand eighteen energy outlook and several other market studies the current global consumption of liquids by sources of Enduring Growth. Petrochemicals FEEDSTOCKS AVIATION. Marine fuel is about twenty million barrels per day approximately twenty percent of total consumption. The rest goes towards sources. That are more at risk. If there's a major technological jumping Green Energy in Battery Technology Aka Road Transport power generation so we thought even if we see a robust growth and petrochemicals marine aviation fuel over the next few decades. Those are unlikely to consume more than thirty five million barrels a day of liquids. My here's my question for you. If there's a huge and logical breakthrough that reduced demand for liquids in Road Transportation Fuel and power industry such that. The global demand dropped from one hundred million barrels. A day to seventy million barrels a day twenty forty. Where do you think seventy million barrels a day would come from and how it a change the structure of the oil and gas industry? This is a great frigging question. Stephen I mean this is a really strategic thinker. Type A question so I'm actually just go along with your assumption and if something major happened and that something major would probably be a breakthrough in storage technology and also cost because right now. Electric vehicles really are only for the wealthy. But if let's say that happens where that seventy million barrels bay come from so I will tell you right now that seven million barrels which would not be used for transportation which we use for petrochemicals. That sort of stuff needs to be heavy complex cruise. Because that's where you get the best yield and so I think about that way that so may barrels probably would still come from Canada than his Walea and the Middle East which is where we get those heavy complex crudes if you continue. Follow that chain of thought but if that happened then things like OPEC would literally disappear because they lost all this demand for their crude because transportation demand has gone away and so if that happened in. I think you'd see huge political instability in the Middle East and so I think it may be crazy enough that some big country like China or Russia may actually prop up. We haven't done it ourselves yet prop up Venezuela just so we can get this heavy complex crews out of Venezuela. I think the demand from Canada Ruby. Such the politics up there were changed so that they could also get their heavy complex cruise to market so in some ways. I think it would be a big benefit to Canada Venezuela. If if I think it out longer overturn wise because I think OPEC would fall apart. And then you have the individual Middle Eastern nations competing and I guarantee that would start war. And so what's all that shook out? I still think the chance to become from Canada. Venezuela of what do you think Jake as much as I would love to see a major step change in the -nology four especially battery technology for example? We're still so far away. I would love to see it. I think that opens up so many new possibilities a huge technology guy. You know I love to see the world change and I think that would open up. You know I love actually believe it or not. Even as a car guy knows sounds kind blasphemous. But some of the things that they've been able to do with electric cars on the Sporty side of things is absolutely remarkable. Porsche just released their new. Take on a Turbo S. Which is actually faster than Bugatti. So zero to sixty two point four seconds sailing eleven hundred horsepower. And it's in a car that actually handles well is super light in charges to eighty percent within twenty minutes so we're making advances in that technology but. I think we are still so far away from where we need to be. Battery storage is extremely expensive at this point. Hydrocarbons are much more efficient compared to most renewables. It's so much cheaper and especially with seems like commodity prices are becoming even more precision. The natural gas side to harder and harder case for some of the renewables. But we'll see plays out. I think the auto industry is really leading the charge especially when it comes to some of the battery technology but I unfortunately I just think we're so so far away yet. Lotta people know this but Jake you've ever with the very first. Tesla was the Little Rhode Shirt. It was a roaster and it was fast as all get out right that those very first Tesla and when I say storage technology people think batteries. But there's other ways to store energy but Steve missed a really good question of still going on the back of my head because you know if that Wa- Samore could happen with de-stabilize OPEC it would just interesting if it happens. I don't want to see it happen. Quickly hope it happens slowly so that we can adjust but just great questions to our right. We have a question from Brad. Who's a utilities and Power Generation Product Lining executive? Is Exxon. Know something about biofuel its peers. Don't appreciate your insight. On algae fuel mark is usually have some reliable economic stats hilliard. Excellence looking at a bunch of bio fuels but to understand this question better. You need to understand how hydrocarbons originally made so hydrocarbons were formed in a period of time. Actually still being formed now. They're always be informed but they were formed a period of time history where the earth was much warmer than it is now. The oceans were much warmer. And so you had a lot of plankton zooplankton in that plaintiff love. It was algae that grew. And you may not know this but basically plankton endlessly. He's algae which is part of plinking my know this so hate mail so let's take algae so it wouldn't algae grow into converts carbon dioxide with using sunlight to sugar in that sugar gets converts to oils right in those oils when that algae died and sank to the ocean floor. It saint to the floor in an area where there was little or no oxygen. Didn't decompose so those oil stayed there. And then if you put a layer of sediment this is GonNa Gulf of Mexico right now. Mississippi's dumber layer seven over non decomposing. Algae then the earth starts compression and heating that over millions of years and it converts those oils that were started off as sunlight carbon dioxide into hydrocarbons. Exxon Mobil's doing in it's a group effort. I can't remember the other companies but accent has been working with genetic company Think the Colorado school mine a couple other people and they've genetically engineered this algae knowledge Bruce more oil than normal but to grow in brackish water. So Exxon Mobil's doing is short-circuiting the natural way to make hydrocarbons manmade and they're very far ahead of us so they're gonna be able to make algae and fuel smells you think of diesel ethanol gasoline any those type of things that could make from. Algebra make from algae that grows in brackish water. Now Jake what is produced water when you drill a well usually. It's brackish right. So now Exxon's Nali create fuels but creating fuels with an algae that can grow places that other algae can't grow and this is actually a very strong biofuel. The problem with biofuels is it takes a lot of land and takes a lot of water remember the exact stats but if you get a thousand feet to us from most biofuels it's about fifteen hundred gallons of water it takes to get the number to use it to us from oil and gas is three gallons of water in this is fresh the cooling. Exxon's desert able to do this without using fresh water. So this is a biofuel actually potentially makes financial sense. Exxon's out there doing about five thousand barrels of algae bio fuels a day in their experimental plant by two thousand twenty five went to be up to ten thousand and this is a cool technology because not only does it allow you to make biofuels that make economic sense. Most biofuels don't but it also is allowed them to experiment. So this is the beginning of their biofuel strategy and trust me next on mobile does stuff. It's always the Lauren. Play twenty or thirty years from now. This thing should be extremely commercially viable and then like I said. Exxon has a whole bunch of biofuel research Looking at like a cellulose and using feedstock for other things that you make plastic stuff but the one that's most likely commercially successful is as algae program to do which I think is just fascinating and I love the fact. That's mobile doing it yet or know anything about that. So our last question for the days of question from William WHO's at Operation Coordinator your rights as always great show. Keep the good work guys on episode one ninety two Jason Comments expressing his thoughts about domestic crude producers should form a cartel and artificially restrict production and therefore inflate the price of crude. I understand his position as it would benefit producers like him however. I'm curious why Jake thinks. The market for crude is different than the market for either poetry commodity. For example. You'd never hear anyone say that would need a limited supply tennis shoes on the market. Protect the prophets of tennis shoe producers. Instead we just enjoy the cheaper shoes with Yasser preneurs in the shoe business figured how to compete operator. Prophet additionality here. Jas comments on government quotas or profession and how that factors in Afghanistan at the Road Commission parade script production in Texas and I believe the Oklahoma Corporation Commission does. The same could be wrong. Of course we're all familiar with OPEC and their attempts to control supply in control price. Globally wouldn't have remarkably best. We really need to government quotas or private cartels define the optimal supply of crude. Great Question. Obviously as you mentioned up until three weeks ago I was incentivized to have crude natural gas. Be As high as possible because we benefited from it from our wells producing in Oklahoma. We have since sold those and I am temporarily out of the operating game but my comments still stand. Is it a good thing as a bad thing? I don't necessarily know. It's kind of speculative at this point. Let's just played devil's advocate and say that OPEC was to completely just go away and Saudi Arabia and every other company was just completely the floodgates. What's going to happen? We're GONNA see probably less than twenty dollars. Barrel crude natural gas is already as low as it's been probably I think it's ten years right mark. It's extremely low. Yeah extremely low. A. Lot of Africa's producers are probably going to go bankrupt soon so what happens then great for consumers terrible for anybody. Who's trying to push the renewable agenda because now hydrocarbons have become so so so cheap that those are just so far away so in the event that those need to become viable. We're GONNA need to see more subsidies from the government just to kind of offset. The cost associated with those a lot of producers would file bankruptcy which already seeing now not always a bad thing. With a lot of major restructuring we see a significant amount of layoffs. Yes so what would actually happen. I'm not I'm not really sure. I know that would be absolutely devastating for industry just like it has been with every other downturn special. We saw you know we'll go down to was a twenty six dollars a barrel. I think in fifteen in having lived through that that was pretty bad so obviously selfish purposes too. I think there's a there's a happy medium you know. I think we're in between anywhere from fifty five to sixty five dollars a barrel kind of benefits. Everybody benefits the consumer benefits the producers. I feel like it's just a happy medium. I think what we're seeing is that we're just absolutely drilling we've made so many. Logical advances were punching holes in the ground that were absolutely just drilling. Wti into the ground. So it would be an interesting exercise to see you know everybody was to control the price a little bit a little bit more per barrel and could everybody make a little bit more money to the industry thrive a little bit more obviously a lot of other issues that are going on one of the things that are currently a play especially between shale producers and Wall Street and the capital structure of some of these companies. Those things don't to change but if you look at other things not necessarily commodities but you look at other things as I mentioned earlier in the episode of Libertarian. All about less government intervention but there are certain things where the government I believe is a great force. It needs to kind of come in and kind of place regulations on things and one of those things being. I love the fact that there was a new bill that was passed that allowed a remanded of transparency on the medical side four medical expenses between insurance companies healthcare providers that benefits the in consumer you know and I think that currently were. We're also seeing that. We need a lot. More regulation that space because healthcare cost or apple -solutely astronomical. Especially if you're not to producer it comes out of your pocket regardless either way you know. I pay more for healthcare costs than I do from my home. It's absolutely astonishing. You know and then same thing with college tuition. We've seen college tuition inflation over the last. What twenty or thirty years by? I don't even know the stab but I know it's probably like ten x twenty x whatever. I've seen a lot of graphics on that where it's just it's insane. You know student debt in the United States is like at one point two trillion dollars and a lot of people are not paying down the debt whatsoever and so should we have the government step in and say this is absolutely ridiculous. You know most people make it out to that. You need some kind of degree to succeed in the United States. Today I don't necessarily agree with that but that is the common theory there. And should you have to pay you know? Should you have to rack up half a million dollars in debt just to go out and get a job you know? Schools are businesses the are for profit. Most of them are for profit. Should they be able to just rake up tuition? You know a thousand acts and force you to pay you know if everybody's in cahoots together. I think it's a flaw in capitalism. You know and I think the same thing could be said about potentially about oil. Maybe I'm off base. Maybe I'm not. I don't know what William definitely pushed Jake's but on that one ask a question getting back to civilised really truly think about there really is no free market. I do think we need be as close to free market as possible in the oil gas industry. It's one of the chew few global commodities. One of the problems is not. Everybody Plays Fair. You know you have you have Russia you have China so we need our government to step in and try to level the playing field. That's what we do with. Import tariffs export. Terraced stuff is really just trying to level the playing field so I do agree that the free market would be best but the reality is there really is no free market so we need a little bit of government help. They're definitely don't believe private cartels because then it's all about the private till but just you know what's really good question I take. Our audience is getting really good at asking questions that make us think these instant request. Don't take it that I was offended by any means or that. That was a bad question. Great Question I think. It's purely speculative as to which direction that we go one way or another but in summary I think fifty five to sixty five dollar. Oil is great. Think anything less than I think. It's detrimental to a lot of people anything higher than that. I think can also affect the other thing I actually really like is the. Us is the only country that I know of. Were we can own middle rights. Were the people who own the land owned. Surface rights can own the mineral rights. I think that's another piece of the puzzle that people don't talk about a bunch so you go to any other country government make some money from hydrocarbons out the people whose land the drill wells on. I think our way and whoever wrote earlier that I talk bad about other countries. I'm not talking bad about other countries or other groups are the People's I'm saying in the US. It's done this way. I don't think it's the best way so anyway. Let's go to giveaway all right so we're still doing to give away so everybody seems to go to the Lincoln. The shouts Click Linke Gwen a t shirt with the. It's got a patent of a pump check on that. Each one of these a serialized. We will be doing some giveaways here soon. We'll be announcing your number and you will win a new Ferrari or something else or something. How something else that? We decided to kind of auctioned off. So it's going to lake in the description below and enter for your chance to shirt jake. Did we talk with this? Elect show that. I felt that somebody was trying to reverse engineer. These shirts talking we did. We did okay. I just think it's a conflict. Somebody wants to persons new shirts. Don't do it. Don't let me catch doing it. The only way you can get one of these wins to go in there and if you don't win just inter every week increase your odds. Speaking of how important the weekly count is not. What's the weekly recount? Jake eight hundred twenty so last week it was eight seventeen. I believe so. We're pretty much less than one percent. Change Week over week. That's cool good number and then you've heard US talk about the street team. You want to join go to facebook. Just look for the street team. Speaking of shirts were finally getting. Some shirts made for our street teams. So if your member street team I know you've been hearing me. Say it for probably a year. They're coming out. Catherine's actually doing the designed with graphic artists. Hopefully have this out in the next thirty days and our street teams just our all volunteer group helps us. Do Cool Stuff. Socially our social media. And if we're somewhere in your geographic area get to come to our live events for free and if we're going to some conference in your area could come join us as part of pressing. And then she wanted about all guests events that are going on because we got nape right around the Corner Sarah Week right around the corner. All that stuff's in our monthly newsletter. Actually my monthly newsletter. But I'll share for free. Go Link could sign up there and then went Jacob Ida come speak at your organization your club. You're actually talking about cars. Your Car Club would ever let us the other thing we do. That's really poppers. We bring this. Podcast live to your vet so not only. Do you get to see jake and I do this in person which is way. Funnier than listen to us. But then your company and your group gets exposed on the number one podcast in the world in August. She said You WANNA learn more about that. Reach out to solicit and will be happy to share details. This is the first Friday Q. And a. This is what we do every week every month absorb just since questions remember. The goal is not to. Stop Jake and I. It's to ask thoughtful question. Help educate the audience and then go join Arlington Group. I don't even know what we're up to but it's huge just got leaked in look for oh g. Gen. It's been a busy day and we got a lot of stuff to get done and it's super bowl. Sunday says ready got here. Jake do remember folks do great work pay it forward and we will see next time and here are the vents on debt. Hey Everybody Alex era the events on deck. For February we do not have any O. G. G. UNHAPPY HOURS IN FEBRUARY. But we do have an exciting event coming up in Pittsburgh. This'll be our first happy hour there in March and it will be taking place on March twenty fifth. The location is to be determined so be sure to follow us on facebook linked in or twitter to keep up with Those announcements and to purchase tickets the Houston. Api luncheon will be on February eleventh this will be networking about with top oil and gas business and they promise that you'll be learning something really cool so check it out and sign up for that event. The wildcatters ball will be on February seventh in Houston. This ball is the primary oil and natural gas industry fundraising event for the IP A Educational Foundation proceeds go toward funding the foundations energy education program the API Energy Houston three gun. Chapter will be on March Twentieth. In Houston's this event fills up really quickly so make sure to get your team. Enter the best way to do so is to fax or E. Mail the form with at least a captain's name as soon as possible if you need to wait for a check. Just notat that on the bottom of the form and send it on we will be sending Mark Liqueur and Patrick pistre to Scotland to Aberdeen Scotland. On march fifth. Four Doku Kahn. Which is the first event of its kind. It is a conference for creating high impact sales. In and Markham. Patrick will be hosting a panel and recording alive podcast. If you're interested in attending this event visit Doku Rubicon Dot Dokru Dot Com and that is D. O. Q. U. A. R. U. C. N. That's offered this month. Thanks for tuning in and be sure to check again next month for more on. Obgyn events next week for another informative and entertaining episode of Oil and gas this week. Podcast a product of the oil and gas global network learn more at MORLIN GAS DOT com.