With 3 unique personalities, backgrounds, and one horrible team sense of humor, it makes for fun talks around the energy markets.
David Blackmon is a Forbes author and currently writes Energy Absurdities of the Day. He has several active podcasts with ….. His industry leadership is evident, but a dry, calm way of expressing himself adds a different twist.
R.T. Trevillon is the podcast host of The Crude Truth filmed in Fort Worth Texas and runs an oil and gas E&P company. Pecos Country Operating has been in business for ….years and has a constant commitment to all of their stakeholders and is actively working in this oil and gas market.
Stu Turley is the co-podcast host of the Energy News Beat Podcast. While Stu is a legend in his own mind, [email protected]
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
3 Podcasters walk into a Bar – Oil and Gas by the Numbers
Stuart Turley [00:00:04] All right, here we go. Well David, we got David Blackmon. We got our teeth. You ever have those crazy old uncles where they sit back and they all go around a Christmas party? Yeah, I got these three guys walking into a bar. I happen to know the other two guys I got David Blackmon I mean, David Blackmon is a legend in my mind. How are you today, David?
David Blackmon [00:00:37] Oh, I’m just happy to be here. Stu. I’m so happy. I can hardly stand to be around myself.
Stuart Turley [00:00:42] I cannot stand to be around you either. And then what do you have, RT? RT is playing a game. I think he’s trying to earn money.
David Blackmon [00:00:51] Candy crush,.
Stuart Turley [00:00:52] You can go drill a well. RT Treviño is a big dog over there. Pecos operating. How are you today?
Rey Treviño [00:01:00] I cannot complain, it is a great day. It’s good to see you guys. It’s been about a week. And here in North Texas, we actually have another week of or not too much rain this week, I should say.
Stuart Turley [00:01:13] Yeah. I tell you what. We got us an action packed show today. In fact, I was sitting here thinking, what would Jesus think if he was sitting here working with everybody? And I found this little video of Jesus working with the disciples. So, RT, here you go.
Stuart Turley [00:01:43] So now, RT which is worse? Jesus getting stuck, not walking on water or you trying to go around climate protesters. Yeah, I got a video
Rey Treviño [00:01:57] Climate protest. You don’t got that video, do you?
Stuart Turley [00:02:00] We got it. We’re going.
Rey Treviño [00:02:01] You got that video protest?
Stuart Turley [00:02:03] Yes, I knew I got the video. Here we go. This is RT.
Rey Treviño [00:02:16] I mean, I don’t know. You know, I mean. Some people probably have seen me in my Jeep before.
Stuart Turley [00:02:22] And climate protesters were hurt in the filming of this episode of the three podcast.
David Blackmon [00:02:28] That’s a shame. That’s a shame.
Stuart Turley [00:02:34] So for today’s show, we got about 16 different topics, but RT you’ve got two big stories that you teed up, and when you get off your phone, you can go ahead and try to point out what you got.
Rey Treviño [00:02:45] Right. I know, I’m so sorry. No, what a week it’s been. I mean, they’re already preparing for the grid this year. And before we even jump into the grid, I mean, people, we have more people moving to Texas than ever before. Okay, so that being said, be nice to everybody and be sure to tell them, hey, you’re moving here because of the policies and beliefs that Texas already had. So don’t California my Texas. Okay, there’s my public service area.
Stuart Turley [00:03:20] So
Rey Treviño [00:03:21] California. What?
Stuart Turley [00:03:24] Don’t. California. My taxes.
David Blackmon [00:03:26] Exactly.
Rey Treviño [00:03:27] Yes. Do not California. My taxes do not in New York. My taxes. I welcome anybody to come to the to God’s playground. Okay? I welcome anybody. But our policies, our regulations and our Christian core values in this great state is what makes us the greatest state in America. So please come, come one, come all.
David Blackmon [00:03:50] God bless Texas.
Rey Treviño [00:03:51] Just give us a little time with our grid, okay? Because we cannot keep up with the population increase. Not to mention the Bitcoin and data mining that only continues to rise here in the great state of Texas. So basically, I’m kind of got a more of a big public service announcement. Keep an eye out on your electricity this year. With more wind and solar getting ready to come online. We do not have the battery power storage for that wind and solar to, help generate the electricity that we’re going to need. So get ready for a lot more natural gas this summer, God willing. And, you know, slowly but surely, we are building that infrastructure and hopefully we can talk about the infrastructure and the, Texas, state, you know, allowing $5 billion. And they had almost 40 billion worth of, people wanting to do work with natural gas. So really, you know, I’m all for, energy additions. We just need to do it in the best way possible. So again, right now, we really have a lot going on, with our, grid. So just be ready. South Texas, y’all might get hit first. So just keep an eye out and, you know, limit what you can if you can. If you got a Tesla, maybe charge it during the day and night at night. I don’t know, everybody really likes their. AC at nighttime. I’m coming. I’m definitely going to California. Texas. And, Bailey Midkiff. How are you, sir? Doing well over here. And I hope you’re doing epic because my good friend likes to say.
David Blackmon [00:05:30] Patrick Devine is with us. Yes, Edwin Rodriguez is with us, sir. All right. Good, good.
Rey Treviño [00:05:40] Love it. I heard you wrote about the, great stuff in regards to the natural gas and the state basically earmarking about 5 billion, but we had almost 40 billion worth of requests. Is that right?
David Blackmon [00:05:57] Yeah, the Texas Energy Fund, that was a, bill passed by the 2023 session of legislature, allocated $5 billion fund for guaranteeing low interest loans for natural gas infrastructure generation projects. The PUC accumulated the bids last Friday. They totaled up to a 100 and a an overwhelming, overwhelming response to this from power generators, 125 applications totaling 55.8GW of additional natural gas capacity. The state’s goal was just ten gigawatts of new capacity. So something’s got to give. They’re going to have to go through a ranking process, qualifying process to determine which of the, projects that they’re going to offer the low interest loans to. There’s also some grant money in there. And, you know, local communities are offering tax incentives as well. Among I think this is very important to point out that among the applicants were the city of Sugarland, which is aspiring to, build a 500 megawatt, natural gas plant to power a new multi-use, industrial shopping center that they’re putting on the side of a former federal prison right outside that community. And the Texas A&M University System, which is proposing to allocate, parts, land necessary to build, natural gas generation for its 12 campuses. So this is an overwhelming response. It’s a proof that everyone what I’ve been writing about for four years now, that everyone knows that Texas is short of natural gas, dispatchable reserve capacity. That’s what killed us during Uri. Killed 300 Texans during Uri. And this is proof that the generators who have been reluctant to build natural gas for a decade now, also recognize there’s an issue that needs to be filled. So good for them. Good for the state. Thank thank you, Lieutenant Governor Dan Patrick and Charles North, Senator from Georgetown, for your efforts in the 2023 session to get that bill passed and to Governor Abbott for signing it into law.
Stuart Turley [00:08:27] There’s a big battle coming up with natural gas, and I still don’t understand it. Natural gas is one of the key reasons that we’re able to lower emissions and be cleaner. I don’t understand it.
David Blackmon [00:08:40] I don’t either, you know? Well, it’s just politics. I mean, you’ve got the the wind and solar lobby. They want all the money for themselves. They’ve had a, they’ve had a monopoly on the incentives and subsidies for ten years now. And, that’s the main reason why natural gas hasn’t been getting built in Texas. What the Texas Energy Fund does is level the playing field on incentives, and we see the result. It’s incredible.
Stuart Turley [00:09:05] What do you guys think of two things? You’ve got your story here, David, with the oil edges up on forecasts for, strong, global demand. What do you got there?
David Blackmon [00:09:20] So there’s a growing consensus among the EIA, Goldman Sachs, OPEC and even the International Energy Agency that demand for crude is going to continue to grow very strongly for the rest of 2024 and into 2025. And I think, investors, traders are reacting to that. All four of those entities came out with, updated forecasts this week. And, that’s cause price oil prices have gone up from they were drowned. West Texas Intermediate was down around 73 mid last week. And now midweek this week it’s, approaching 79. Today is yeah, it’s over 78 today. So you know there’s been a significant uptick and it’s it’s because everyone agrees that demand is continuing to rise for oil and natural gas and coal and wood burn for energy. But here’s all of them at record levels last year. We’re going to do it again this year and next year and probably many years into the future.
Rey Treviño [00:10:25] You know, David, it’s really exciting, to see that the global demand is going up as an oil and gas producer. Well, thank you, Robert. We really enjoyed it. And thank you very much. But, you know, something came out last week that, one of your, partners over there at Forbes wrote, saying how actually production has stabilized over the last 12 to 18 months. You and, you know, when you first hear that, you know, as a producer and somebody that, you know, plays in the dirt all day, it’s like, what do you mean? We’re having record numbers every month, of new production. But, that is true, that we are having record numbers. But when you dive into the numbers, we really have almost leveled off. Is that correct, David?
David Blackmon [00:11:12] Yeah, that was Robert Rapier who wrote that? He’s a he’s a really good writer. Contributes over at Forbes. He’s a really smart guy, and he’s right. I mean, US production has leveled off, over the past ten months, but we have to remember that that’s only happened. Because we’ve cut the active rig count by 45% since 2019 and by 25% just since January of 2023. So it’s not that, you know, the wells are less productive. It’s just that we’re drilling a lot fewer of them. They’re actually vastly more productive in terms of of initial recoveries and ultimate recoveries from everyone in the Permian Basin. That gets drilled much higher than it was just four years ago. That’s because of advanced technologies and better processes. And, you know, the industry is constantly innovating. It’s a most innovative, technology heavy industry on the planet. And, you know, so I don’t think anyone ought to be surprised, although it always amazes me how many people who really knowledgeable about this industry are surprised when stuff like that happens. It’s it’s amazing to me.
Rey Treviño [00:12:27] Yeah. Well, you know, and one thing I really enjoyed your numbers there where you’re talking about, hey, since 2019, we’ve cut down 45. No, 45%. And it’s, it’s 20. What we’ve done.
David Blackmon [00:12:39] Anywhere from 23. 23%.
Rey Treviño [00:12:42] Yeah. Since 2023, 25% is a big number. It is. And and so it’s really interesting that here we are being stagnant again from face value. When you see somebody say that you’re like how can that be. So I’m very glad again that we can dive into it and talk about it. Also it kind of raises an eyebrow because it’s going to bite us in the butt at some point. Ladies and gentlemen, supply and demand is Real Economics 101 that we all took in high school and had to take in college. Chapter one Supply and demand. That is real. As Saudi Arabia and OPEC continue to do their cuts, we only continue to fight that now, right now with the production that we have. So thank God for American oil being drilled on American soil right now.
Stuart Turley [00:13:35] The Biden administration just called and they have their expert. Here there is their expert on supply and demand.
David Blackmon [00:13:44] Is that Jennifer Granholm? EV.
Stuart Turley [00:13:49] Sorry. I’m sorry about that. Dude.
Rey Treviño [00:13:52] Don’t get me started on Jennifer Granholm. Did y’all y’all remember back in March when they said that, Michigan was going to get, a new nuclear power plant and get a big billion dollar loan for it? And they came back out yesterday and just got me all riled up again. Where was Jennifer Granholm, the governor of, Michigan? I mean, you know, just General.
David Blackmon [00:14:15] Palisades, you know, Palisades plant is actually they restarted a mothballed one. And, they they’re doing it with a billion and a half dollars from the Department of Energy. That’s a hell of a kickback from the Secretary of energy and.
Rey Treviño [00:14:30] I’m sure she’s going to be an investor somehow, someway.
David Blackmon [00:14:32] Or her.
Rey Treviño [00:14:33] Second cousin twice removed probably is.
David Blackmon [00:14:35] Right. But I’m glad you know she’s had a real change of heart all of a sudden here over the last month about nuclear. And I’m glad to see it. I it because we’re going to need a lot more nuclear. And so that’s good. I mean, the problem is that, you know, that’s a little technology that’s, old generation nuclear. We need to find a way to speed up the development and deployment of new nuclear technology. Thorium reactors, molten salt. Like the one being, that’s about to get under operation within the next 2 to 3 years. Not at Abilene Christian University on the campus of Abilene Christian. My my friend Doug Robinson and, his company, that that’s going around. And of course, Texas leads the way.
Stuart Turley [00:15:21] Yeah. Great. Glad. I’m really.
David Blackmon [00:15:24] That that Doug car.
Stuart Turley [00:15:28] Working with Bethany Stevens. She’s the director of media relations with Senator Cruz’s office, because we’re working on the follow up to the, Americans for prosperity, event that we were at with Senator Cruz. Yes. And and that is a very important, feature because when Senator Cruz said, hey, what can I do to help you? He actually had a very good point when he said, I need help with fuel. And, boy, I mean, Senator Cruz, Cruz went absolutely nuts. So I love Senator Cruz, and I love his staff.
David Blackmon [00:16:09] He’s great. He was in a great mood that day and really upbeat. And I was sure, sure happy to see that. You know, I think things are shaping up very well for him in his reelection campaign, thank goodness. Yes. And.
Stuart Turley [00:16:24] I heard a rumor somebody wanted him as, Supreme Court justice. I think he’d be great, but I don’t to read him as a senator.
Rey Treviño [00:16:32] We can’t afford to lose him as a senator. No, no, he’s probably one of the most knowledgeable cons next for Mark Levin. And Mark Levin is a very good scholar when it comes to the, Constitution. Okay. I mean, I’ll put everything else aside. Kind of like that other guy that’s really good at baseball that also does politics. It’s like, you know, he just knows the history of baseball. But Mark Levin and Senator Cruz have such a great like.
Stuart Turley [00:16:57] Jonathan Turley I mean, Jonathan Turley is up there too.
David Blackmon [00:17:02] Yeah. You know, the problem for Mark Levin is he’s in his 70s. Ted Cruz, people don’t know it, I guess, but, he, was an associate, attorney general here and deputy attorney general here in Texas before he ran for the Senate. He argued nine cases before the Supreme Court while he was in that job. And one, I think, seven of them. So he’s he’s a incredibly smart lawyer. Would be great on the Supreme Court. But you’re right. We can’t afford to lose him in the Senate.
Stuart Turley [00:17:30] I can’t. No, I love Senator. Great. You say that out loud on live. Hey, here’s a great one from Patrick or buddy Patrick. Here’s a question. How will the departure from the petrodollar affect the cost of oil and natural gas development and production in the US? Fantastic question. I’ll let you guys take a stab, and then I’ll let you know my opinion.
Rey Treviño [00:17:53] I’ll I’ll go first. And then then you’ll either correct me or make me look good. One of the two. Right. I don’t think we really have to worry about a BRICs currency as much as I think, because we still look out for it. I think right now, across the world, the Petro dollar is still strong. You know, now we see some things that happen in the future that we can get out there on thoughts and conspiracy theories. But right now, OPEC is still understands the value of the petrodollar and the value of the American dollar, which who we kidding? That’s what it is. But but that’s that’s kind of my thoughts on it. But do I see BRICs trying to start their own dollar? Absolutely.
David Blackmon [00:18:37] Yeah.
Rey Treviño [00:18:38] But I still don’t think it’s going to be enough to move the petrodollar away. David.
David Blackmon [00:18:43] Well, this will be my input from Bailey Midkiff. Patrick, upon the departure from the program, could potentially impact the cost of oil and natural gas development and production in the U.S. and influencing exchange rates, trade agreements, and global market dynamics, potentially leading to increased costs or uncertainties in the industry. Yes, sir. That’s exactly right. It could also potentially lead to an economic depression of just a recession in the United States that would spread globally. So we’d better hope it doesn’t happen.
Stuart Turley [00:19:18] Well. Laura Bailey, I am not going to show this one. We don’t want RT thinking that he actually had a good point. So RT called Bailey. The was.
Rey Treviño [00:19:34] Thank you. Lord. Check is in the mail. Lord be.
Stuart Turley [00:19:39] When we take a look at, you know, the death of the Petro dollar is not going to happen quickly. I feel that when you have, Janet Yellen, who should have my barber and not her barber. Because when they had all of the the worst Treasury, bond, and, and U.S. treasuries going on last week and everybody saying why nobody wants to buy our treasuries anymore. And that’s what keeps our debt going. And that’s tied to the Petro dollar. Sanctioning Petro dollars in trying to do that is a mistake. Trump had sanctioned Iran and they were at 400,000 barrels per day. They’re up over 1,000,004 barrels per day under the Biden sanctions, because sanctions don’t work when they’re not enforced. Right.
David Blackmon [00:20:42] I mean.
Stuart Turley [00:20:42] What happens that dark fleet comes in, the Dark Fleet is alive and well, and now the Dark Fleet is now going LNG. LNG now has tankers that are being self-insured so that they can go forth and then sell around the sanctions. Everybody was saying, oh, there’s no LNG tankers in the Dark Fleet. Wrong. There are. So anyway, sorry we’re picking on you today, Lord Bailey. I’m not sure if that was because I was running, but. Yeah, yeah. Patrick, again? We as Americans have some of the greatest oil and gas and energy workers. Hug a linemen, hug a rig operator. I mean, they are van tastic people. Electricity generation. Love it.
Rey Treviño [00:21:40] You know, that Patrick, that reminds me of what, Americans for prosperity are liking to say right now when Texas is energy abundant? America is energy dominant. And that’s, dare I say, that crude truth right there. You know, when you look at Texas on the map.
Stuart Turley [00:21:56] Shameless plug, RT well done.
Rey Treviño [00:22:00] man. And, but, but when you look at Texas on the United States map, we are we do carry the United States on our shoulders. And as the Permian Basin goes, let’s let’s call it what it is. You know, God bless the Permian Basin. And like I said, all those people there. But we are fighting against bricks and OPEC right now stronger than we ever have, even though we’re not drilling as many wells. So thank you to all the service companies and all the, reservoir engineers and petroleum engineers and all the people that are figuring out ways to make these oil and gas wells that are already producing produce more and produce longer. And, so thank you all very, very much for being out there.
Stuart Turley [00:22:44] You know, I, I think what I want to ask and if, for our folks that are listening, ask us questions on the tax, the taxes that are about to happen where Biden is going to kill the Trump tax issues because the average tax per family is going up. Alternative investments are becoming more and more important with tax investing, with tax benefits. So.
Rey Treviño [00:23:12] You know, real quick before I jump into something about that, and yeah, we got to keep the government out of energy policy. And and part of that actually is, what wants to talk about with these alternative investments, where these tax cuts, when are they expected to expire?
Stuart Turley [00:23:29] About 15 minutes.
Rey Treviño [00:23:31] Okay. Yeah. So are you people who.
Stuart Turley [00:23:37] Biden is not going to, and.
David Blackmon [00:23:41] He’s not going to be the nominee, you know?
Rey Treviño [00:23:43] Yeah. It’s not going to be the nominee.
David Blackmon [00:23:45] Of the nominee.
Rey Treviño [00:23:47] Well, anyway.
David Blackmon [00:23:48] The I’ll just be honest, it’s not going to be the nominee. I’m just saying.
Stuart Turley [00:23:56] Just about 400 K, right?
Rey Treviño [00:23:58] Yeah. Yeah, just above it. Yeah. Just a little bit. Sure. But no alternative investments are so important right now. To get ahead of these, tax deductions that are going away because, real estate is not a place right now, which I’ve been pretty surprised. Okay. Because, you know, I do have some real estate in my portfolio and I’m always looking. But right now, a lot of people are looking for those alternative investments that do have long term tax reductions, immediate tax reductions and the cash flow that, like oil and gas provides, because right now the interest rates are just so high. And, so, you know, these are going to be great ways to battle against, these tax. When I hear that being said, going back to what what Robert was saying that that but, that, you know, if we can keep the policies in place because this administration also tries to fight to remove those tax deductions that are available for alternative investments while handing out more subsidies.
Stuart Turley [00:25:00] Let me ask. This is a real question, guys. We have was it 500 billion? Or five? There are 63 banks that are heavily loaned in commercial that are about to fail. I mean, they’re rumored to be failing here very fairly quickly. Who knows? I don’t know if anybody of our listeners or understand that, but there is real estate is really a problem, especially in the blue cities with commercial. So when you sit back and take a look, you have, energy, you have commercial real estate, and those are the biggies. And when they’re hurting that bad and then the taxes kick in. This brings up, one of the topics that I had and that is, Professor Strange, Saint John, Saint Saint Onge. I’ve asked him to come on the podcast. He is a key.
Stuart Turley [00:26:03] Here he is, a really very knowledgeable man. And so anybody that wants to follow him, he’s at professor, Saint Onge. And he is a good dude on finances and and everything else. So I’ve invited him to. Come on. I just want to get him out there.
Rey Treviño [00:26:22] You know? I want to kind of get off this topic, and it’s something I know me and David talked about in our pre-production meeting was, if y’all don’t if y’all first of all, if y’all are not following David Blackman’s energy absurdities on X, get over there and do that, okay? Because his energy absurdities of the day are still I mean, that’s what I’m saying. You’ve been doing that now for, what, two years?
David Blackmon [00:26:45] Couple of years?
Rey Treviño [00:26:45] You feel something every day. That’s absurd.
David Blackmon [00:26:48] Oh, there’s more and more every day.
Rey Treviño [00:26:50] Yeah, I know, but I want to talk about the repost you did of Lindsey Graham on MSNBC, I think. And.
David Blackmon [00:27:01] Oh. Revealing the truth about the Ukraine war.
Rey Treviño [00:27:03] Yes. Yeah. Let’s talk about that real quick before we talk about this.
David Blackmon [00:27:08] Well, he revealed part of the truth. I’ll face the nation. I mean, live television on Face the Nation. And so I’ve been trying to figure out for three days now, why did he choose Sunday morning on Face the Nation to roll out the talking points? The truth that one of the main reasons why the United States is conducting its proxy war with Russia and Ukraine is to prevent Putin from getting to, what was it, $14 trillion in mineral wealth underneath the ground in Ukraine, which, you know, all of us have known about? But, you know, it hasn’t been a talking point from supporters of that war. Yeah. Yet and now suddenly Lindsey Graham chooses Sunday on Face the Nation to roll out that talking point. And I’m just it flummoxed me to see him say that because they haven’t been saying it. And I just wonder what the reason is, because he didn’t just wake up Sunday morning and say, oh, you know, I’m going to talk about all the all the lithium and stuff that Ukraine has under the ground today on Face the Nation. That was a an intentional revelation to most of the country who ever watches Face the Nation anymore. That obviously had been done with a lot of pre thought. And you know, he would have had to vet that through the State Department, the Defense Department, the white House before he rolled that out. So I’m just it is it’s really really an interesting thing that he chose Sunday to to do that I it’s absolutely true. That’s absolutely one of the main motivations. And the truth about these things can always be discovered by following the money. And that’s where the big money is.
Rey Treviño [00:28:53] So I guess I.
David Blackmon [00:28:55] Wanted everyone.
Rey Treviño [00:28:56] To know earlier about, you know, that Biden may or may not be the nominee. You know, the more and more that the president is that the more and more that former president, saying, you know, they’ve now suspended, I think, one case in Georgia and, they dropped another one on the, on the voter fraud and things like that. It’s getting real interesting.
David Blackmon [00:29:21] Yep. Yeah. Patrick Devine is right. Yeah. I mean, obviously it is. And, of course Putin looks back at history and says, oh, you know, Ukraine historically has more often been part of Russia than not. And so he uses that as is just protection for going in and killing a bunch of people. You know, so I’m not defending Putin at all. I mean, he’s a war criminal and ought to be treated as such. But, you know, there’s a lot of reasons why the United States is doing what it’s doing in Ukraine, and very little of it has to do with any real fear that Putin’s about to go into Poland after he conquers Ukraine.
Stuart Turley [00:29:58] Well, let me let me ask this. And this is a real question as well, because of our. Incompetence. At the management level of this country, we now have Cuban. We have Russian missile ships in Cuba. We have 23, Russians ships off our coast.
David Blackmon [00:30:22] We have a Chinese base in Honduras.
Stuart Turley [00:30:25] Chinese based in Honduras. You can’t buy this kind of incompetence. In fact, I mean, this is even worse than Oklahoma University. This is horrible.
Rey Treviño [00:30:36] You know, speaking to go home. It’s great university.
David Blackmon [00:30:40] I said, oh, he said Oklahoma. He said, I.
Stuart Turley [00:30:42] Went to the other university. They are competent.
Rey Treviño [00:30:46] We don’t we don’t need to talk about Oklahoma right now because, they, they I mean, you know, at the end of the day, Texas is still Texas. You know, it last week, I don’t know what happened.
Stuart Turley [00:30:55] The Oklahoma.
Rey Treviño [00:30:57] What happened in.
Stuart Turley [00:30:59] Oklahoma. Oklahoma just outlawed the who in the UN when is Texas going to do that? Because I’m a Texan and I’m hoping that Texas follows that one. Yeah.
Rey Treviño [00:31:11] I’ve heard that. Was that from Steve Reece?
David Blackmon [00:31:14] They, they they passed a law, making it illegal for the Oklahoma state government to. No, for the to adopt the policies of the W.H.O. in the U.N.. Wow.
Rey Treviño [00:31:25] Good for them.
Stuart Turley [00:31:27] So, Texas Governor Abbott, when you come on the podcast, we want you to do this. First question.
Rey Treviño [00:31:33] First question right out the gate. I’m sure he’s dying to come on now.
David Blackmon [00:31:42] Yeah. That ends any chance of that happening.
Stuart Turley [00:31:45] I don’t know who the. Lincoln user was, but they thought I was funny.
Rey Treviño [00:31:51] Well, at least you got a fan out there somewhere.
Stuart Turley [00:31:54] I got one. It wasn’t me, too.
David Blackmon [00:31:59] Who are you? LinkedIn user. You anonymous thing. You.
Rey Treviño [00:32:02] Oh, it’s on the list in Texas, whoever that is.
David Blackmon [00:32:05] Now everybody’s jealous In minute.
Stuart Turley [00:32:07] I have, I hope so I, I really do. I love me some Texas man. I love having Texas license plate.
David Blackmon [00:32:14] God bless Texas.
Stuart Turley [00:32:17] Okay. Hey, this is what I think is happening to the. This is a true story. This is a real film. Just buckle up, because I got a film of what’s happening to the climate culture right now, and the greenies and, you know, in Europe, all the green folks are going nuts. They’re getting voted out, and it’s real. Some problem. So here is real video of the green new.
Stuart Turley [00:32:52] that is the Green New Deal happening.
David Blackmon [00:32:55] That was the fallout from the EU elections. The.
Rey Treviño [00:33:00] Holy cow.
Stuart Turley [00:33:03] Yeah, well they’re green party. Yeah. The cow was in the front. There was a back there going nuts.
Rey Treviño [00:33:13] oh goodness. But you know, a lot of people are making a change right now. You’re the regulation make the who a global medical authority didn’t pass last month yet. Yeah. All right. You know, so get off topic. Yeah. Let me see. Because, yeah, be real interesting to see where the who goes. Because, you know, with more and more coming out, that was conspiracy theory that’s now coming out is true. More and more people are being very skeptical, but also more and more people are also seeing how we’re not ready for an energy transition, that it’s not going to happen today or tomorrow, especially in Europe. As y’all all know, I was there a couple of weeks ago. I mean, you know, they’re they’re talking now that they may have to start finding the.
Stuart Turley [00:33:56] Europe falling apart RT when trolling through. Nice well done RT
Rey Treviño [00:34:03] I know a guy I know, I.
Stuart Turley [00:34:04] Know, yeah.
Rey Treviño [00:34:05] I know a guy. I know, and it just kind of the part. Maybe I should state.
Stuart Turley [00:34:15] My, France’s Macron lost the election because. Are you trolling him nice
Rey Treviño [00:34:24] Yeah. Yeah, that that was my job.
Stuart Turley [00:34:30] What else? We got some more stuff coming around the corner, guys. And again, we gotta sit back and take a look. Azerbaijan cop 29 coming up. I love this one. Okay. Dubai was cop 28 and it Dubai. I thought the head popping explosions, that all the folks out there were absolutely. Who. Because everybody were. We’re just going nuts when when the head of the oil companies. We’re saying oil and gas is not going away. Now we have Cop 29 and Azerbaijan is rising. And I think RT, to your point, we will not see an energy transition because of AI and, the the demands of extra, energy. You’re going to see natural gas increasing. You’re not going to see any decreasing. You’re going to see demand for oil increasing. And we’re seeing a running away from, just blatantly trying to throw money into these things because people are tired of high electrical costs. I think it’s going to get weird.
Rey Treviño [00:35:46] Yeah. No, it really is. And really, the data centers that are going to be going up for the AI is also going to be very, very important. And that’s going to take a lot of energy. And as the Bitcoin continues to be over here, that’s going to take up a lot of energy. And as we’ve said here before, you know AI takes up. More energy than doing a Google search. So it’s coming, ladies and gentlemen. And for all the white collar people out there, get your job in line, because it’s not going to be taking blue collar jobs going to be taken white collar jobs.
David Blackmon [00:36:24] So I want to give every everybody watching a challenge. If you live in Texas, go back into your files from four years ago, find an electricity bill and find out what the fuel charge on that electricity bill was four years ago. For me, it was eight and a half cents. Okay, this is the charge, the fuel charge, which is half of your bill. The next year, in in 2021, I had to do a new, new contract, and suddenly the best rate I could find was $0.12. Okay, so that was a 50% increase almost from just two years before. And now that three year deal at $0.12 is expired and reliant, which is my provider, just sent me a letter that I got Friday, which says the best rate they can offer me for my next contract is a three year deal at $0.17, and that is a 100% increase in four years. Yep. Four years. So that’s a hundred.
Stuart Turley [00:37:33] David Texas is one half of New York and California.
David Blackmon [00:37:39] Oh, yeah. Yeah, Californians are paying 40 $0.48. New York, same way the New England rate payers are way up there. You know, Texas is unusually low comparatively on a national level. Hawaii there. I mean, I, I can’t remember what I read 60 or something like that.
Rey Treviño [00:37:59] Yeah.
David Blackmon [00:38:01] This is not sustainable. You know, this is during a time when the pushers of renewables have continued to assure us that the solar and wind that’s flooding on to our grids is cheap. It’s not cheap. You’re all having to fund two separate grids. You’re having to find a grid that will actually keep the lights on and your air conditioner running and a climate change grid. And when you pay for two grids, it doubles the cost. And that’s what you’re seeing on your electricity grid. So anyway, let me write a column from Pat.
Stuart Turley [00:38:37] Great point, Dave. And I got another point to come back to that, here’s a future projection from Patrick Energy Islands around data centers. But extra urban energy infrastructure and policy being much different in 20 years. Patrick. Outstanding point. Yeah. And, and I think that you’re going to see microgrids coming into play everywhere. I’m putting in one in Oklahoma. I’m putting one in Abilene in my own areas, that I have because I can and because I know what’s coming around the corner. So.
David Blackmon [00:39:22] Yeah, well. Can’t argue with that.
Stuart Turley [00:39:23] No.
David Blackmon [00:39:25] Rights are despite government grants us. Yes. Right. And we’re not even the full cost hadn’t hit us yet and badly. That’s how low cost of renewables it is.
Stuart Turley [00:39:35] The hidden, the hidden cost. We’ve got about four more minutes here, guys. David, what are some of your last thoughts? Because we got just an awful lot. I’ve never seen such energy news around the world.
David Blackmon [00:39:49] Oh, it’s. Yeah, it’s crazy, man. It’s crazy. My last thought is I’m pissed off and I’m not going to take it anymore.
Stuart Turley [00:39:56] At one.
Rey Treviño [00:39:58] Well, I don’t know how to.
David Blackmon [00:39:58] I’m just mad at everything. I’m mad as hell. And I’m not going to take.
Rey Treviño [00:40:02] George straight, I hate everything.
Stuart Turley [00:40:08] Wow.
Rey Treviño [00:40:08] Well, I don’t know how to follow that one.
David Blackmon [00:40:11] Yeah, I thought I was happy when we starter.
Stuart Turley [00:40:13] RT. For the folks that weren’t watching.
Stuart Turley [00:40:29] radio was playing so loud that they got you. I don’t know how they did that.
Rey Treviño [00:40:36] Yeah. Hey. Well, you know what? When you can storm in speaking of, you know, this past week when the. Those are the vehicle that stormed the beaches of Normandy. You’re welcome. France even got you that. There’s my last word. You’re welcome to France.
Stuart Turley [00:40:48] I’ll tell you what. With that, thank you to all of our great listeners and everybody else out there. Follow us on the, energy absurdities on Twitter. And David Blackmon’s energy absurdity. David Blackmon, Substack, The Truth, Substack, the energy, Newsbeat, Substack, and, we have got a lot more content. We have more coming up with Senator Cruz and all the other politicians that we have coming up. So lots of great stuff coming around the corner. We will see you everybody, next time.
David Blackmon [00:41:23] Adios.