Welcome to another edition of COBT! This week, we were thrilled to have the opportunity to speak with Ben Ratner, a Senior Director for the Environmental Defense Fund, a non-profit seeking to solve the world's toughest environmental issues in practical and economic ways. We were also joined this week by Craig Webster, TPH's Head of ESG.

And of course, we had the regular TPH band members: Mike Bradley, Colin Fenton, and Matt Portillo. They jump in on $40 dollar oil, a preview of earnings season, and Carbon Emissions Trading levels in the European Union and how to understand them. Our opening commentary begins with the TPH crew and then 15 minutes onward, you'll find our discussion with Ben Ratner.