#hottakeoftheday

A quick #hottakeover-your-Easter episode, from our house to yours.  Be Safe.  Be Good.  Have a Great Week.

Podcast

 

 

For Episode 34, I sat down with Robert Kalbouss to chat all things energy (the parallels and challenges of wind and solar and oil and gas); respecting the person making arguments that don’t agree with your point of view; analysis of data and the scientific method and Rob turned the tables and asked me about the origins of the troubles the oil and gas industry was facing prior to March 7 and what it means now.

Robert has been an avid debater with me on posts over the past 15 months or so, and what I always appreciated about the approach was to criticize the point of view and not the person.  In this day and age of mass political and virus-response polarization, a little discussion can go a long way.

 

Podcast

 

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As always, we love hearing from you, so feel free to comment on the show below!

The following is a video and podcast companion to today's earlier post "Tariffs, price wars, and other mysteries explained".  As always, if you have any thoughts on the episode, please let me know by sharing in the comments below!

Podcast

 

For Episode 32, David welcomes the straight-shooting long-time energy insider, John Hofmeister.  Upon his retirement as President of Shell Oil Company in 2008, Mr. Hofmeister founded and heads the not-for-profit membership association, Citizens for Affordable Energy.

Video Interview

Podcast

 

Mr. Hofmeisters' official bio:

Upon retirement as President of Shell Oil Company in 2008, Mr. Hofmeister founded and heads the not-for-profit membership association, Citizens for Affordable Energy.

A business leader who has participated in the inner workings of multiple industries for over 35 years, Mr. Hofmeister also has held senior executive leadership positions in General Electric, Nortel and AlliedSignal (now Honeywell International).

Mr. Hofmeister served as the Chairman of the National Urban League and remains on the board.  He also served on the board and as the Chairman of the U.S. Department of Energy’s Hydrogen and Fuel Cell Technical Advisory Committee.  He serves as non-executive Director of Applus+ Services, Barcelona; and ioneer Ltd, Sydney and Strategic Partners, Washington DC.

Mr. Hofmeister is a Fellow of the National Academy of Human Resources.  He also is a past Chairman and serves as a Director Emeritus of the Greater Houston Partnership.  He is the author of Why We Hate the Oil Companies: Straight Talk from an Energy Insider (Palgrave Macmillan, 2010).

Mr. Hofmeister serves as a Wrigley Scholar/Executive in Residence in the Global Institute of Sustainability at Arizona State University.  He is also a Lecturer at the University of Houston and at Kansas State University.

Mr. Hofmeister earned Bachelor’s and Master’s Degrees in Political Science from Kansas State University.  In May 2010 he was awarded an honorary doctorate of letters from the University of Houston and from Kansas State University in 2014.

In addition to his board service and academic teaching, Mr. Hofmeister also speaks frequently to interested companies, associations, and other groups globally on the themes of the 21st Century energy transition, including the future of supply, efficiency, environment, infrastructure and governance.  He also provides insight and commentary to a wide range of media regarding current energy issues and topics, including the geopolitics of energy.

This podcast came about from a presentation David made to students at the Colorado School of Mines in Golden, Colorado, and resulted in two students, Tavis Kilian and Syed Ali, being invited on the show (who, incidentally, are podcasters in their own right, hosting the RARE PETRO Podcast)

Originally recorded back on Sunday, March 8, you'll hear David refer to this episode in the intro as a "Sunday Special #hottakeover-your-commute" edition, which, of course is no longer the case, given the world changed just the day prior.

Nonetheless, this episode is a step back into college and a discussion from the perspective of two students facing the uncertainty of entering our industry in a tumultuous time.

We hope you enjoy.

 

Thoughts on the episode? Please let me know by sharing in the comments below! Like the episode? Post a review. Got a question for a future episode? Send an email to drw@hottakeoftheday.

 

Tavis Kilian

Syed Ali

 

https://youtu.be/shaZFvODzzE

No commute? No problem, we're still here!

A great discussion about Colorado Oil & Gas with Dan Haley, President & CEO of the Colorado Oil & Gas Association, and Scott Prestidge, Director of Communications & Public Affairs.

Once again, originally recorded prior to March 7, by the time we were ready to release, the world had changed, and so did our release schedule of podcasts. Nonetheless, this podcast is an excellent interview and a great dialogue with Colorado's foremost oil & gas trade association. Educational with a bit of humor thrown in, this podcast is 100% COVID-19 free.

Show Notes:

Intros

and Overview of COGA

History

of the COGA

Prop

112

SB

181

Regulatory

Environment in Colorado

Group

Advocacy

Russia

Dan Haley's official Bio:

Mr. Dan Haley serves as President & Chief Executive Officer of the Colorado Oil & Gas Association.  As President, Mr. Haley is responsible for leading the industry in Colorado legislative, regulatory, and public relations matters. Previously, he was Vice President of Communications, Development and Strategy at EIS Solutions, a public affairs firm where he served as a consultant for numerous corporate and political clients, including oil and gas interests. Prior to that, Mr. Haley spent more than 20 years in the communications field, including 13 years at The Denver Post, where he was the Editorial Page Editor. He also was Director of Corporate Communications for CoBank, a $100 billion bank headquartered in Denver.

A Colorado native, Mr. Haley has a bachelor’s degree in Journalism from the University of Wyoming and sits on the Advisory Council to the USO Denver as well as the Colorado Advisory Committee for the U.S. Global Leadership Coalition.

Scott Prestidge's official Bio:

Scott Prestidge is the Director of Communications and Public Affairs for the Colorado Oil & Gas Association. He is responsible for external media and communication efforts, as well as managing the political and policy initiatives at the state and federal level impacting Colorado’s oil and gas industry.Previously, Scott worked as Energy Industry Director for the Metro Denver Economic Development Corporation (EDC), where he was responsible for managing a Metro Denver EDC affiliate, the Colorado Energy Coalition (CEC). Scott was also responsible for coordinating with the Denver Metro Chamber’s Public Affairs Department on energy policy issues, as well as managing the retention and recruitment of Colorado energy companies.Prior to that, Scott work for United States Senator Mark Udall. As the Metro Denver Regional Director for Senator Udall, his duties included speech writing, policy formation, and community engagement throughout the nine-county metro region.

Scott has Bachelor’s Degrees in Political Science and Spanish from the University of Colorado in Boulder,

https://youtu.be/F-ItyzuKyQo

Excellent new #hottake from DRW, once again in both audio and visual formats

As mentioned on the podcast and on LinkedIn posts, David was asked to provide members of the Executive Branch a whitepaper on Governmental Responses to the Domestic Production Crisis.

In short, the white paper discusses what steps to take, with the keys being:

A) it rebalances the market in this crazy time and

protects companies from a full unstructured collapse and chapter 11

B) if adopted would immediately retaliate (ban) flaring

which would be environmentally better and aid in rebalancing the market

C) lower capital activity in the US to a sustainable

level and aid the transition of energy policy

D) support workers who are currently and will be

displaced out of the industry until the economy stabilized post COVID-19

E) uses tariffs on imported oil to finance and back the plan, supporting America’s energy independence go forward.

White Paper follows:

White Paper

Stabilization of the United States Oil & Gas Industry

March 16, 2020

Purpose

The

purpose of this paper is to propose necessary federal action to stabilize the

United States oil and gas industry, protect domestic energy independence, and

avoid widespread economic hardship which will result from the collapse of one

of America’s most prominent industries.

Executive

Summary of Key Actions Proposed:

* Shut

in production on all federal onshore and offshore leases, impacting an

estimated 2.8 million barrels per day of supply.* Provide

covenant guarantees to those companies affected for 180 days for the COVID-19

crisis to pass* Implement

a $30/bbl tariff on all imported crude, excluding Canada.  Part of this tariff would be used to support

hourly, field, oilfield service and midstream staff impacted by the reduction

in activity.* Cut

U.S. crude exports to 0 until the US SPR is refilled.

Background:

The importance of the oil and gas

industry to America cannot be understated. The sector contributes significantly

to the American economy through employment, tax revenue, and support of

consumer economy. For example, according to the 2019 U.S. Energy and Employment

report, the fuels sector, which includes oil and gas exploration and

extraction, employed 1,127,600 workers[1] and under President

Trump’s energy agenda, total energy production across various sources reached a

record high in 2018[2].

Increased domestic production and exports of crude oil made significant

contribution to the flourishing economy under President Donald Trump. 

As a result of vulnerable balance sheets,

perilous declines in demand due to the COVID-19 pandemic, and international

price instability the industry is now in a state of emergent decline. Reduced

production by OPEC and Russia enabled the U.S. to grow production to a record

of 12.863 million barrels per day in 2019[3] at a $50-$55/bbl price

environment. Recently, Russia rejected the OPEC recommended continuation of

production cuts from member countries. Saudia Arabia responded with a threat to

increase production and signaled the initiation of a price war.

All things bankruptcy and restructuring with Bryan Lastrapes from Moelis & Company.

While originally recorded early in the week of March 2, by the end of the week, the world changed, and so did our release schedule of podcasts. Nonetheless, this podcast is an excellent interview and highly educational.

Show Notes:

0:00 – 01:45: Pre-Intro Intro

01:45 – 04:00: Intro of Bryan Lastrapes from Moelis & Company

04:00 – 22:00: The Bankruptcy Process

22:00 – 55:00: When to Engage, Maturities, M&A Market

Bryan's official Bio

Bryan Lastrapes is a Senior Advisor at Moelis & Company where he focuses on advising clients in the oil & gas sector. Mr. Lastrapes has over 34 years of experience in the oil and gas industry and focuses on acquisitions, divestments, capital markets transactions, restructurings, and strategic advisory mandates. Before joining Moelis & Company, Mr. Lastrapes was Chief Operating Officer at Quantum Reservoir Impact, where he was responsible for the company’s strategy, operations and business development. Prior to that, Mr. Lastrapes worked at Shell E&P for over 30 years in various management and leadership roles, including Business Development Manager for North America Onshore. In this role, he was responsible for growth of the onshore North America unconventional portfolio, including all exploration, acquisitions and joint ventures.

Mr. Lastrapes holds a B.S. in Electrical Engineering from Louisiana State University and an M.B.A. with Honors from the University of Houston.

This week, on a unique #hottakeover-your-commute, we chat with an anonymous person who was in Seattle last weekend, got sneezed on, and 4 days later, both he and his girlfriend came down with “a highly probable case” as defined by the doctor they saw.

What happened next will surprise you...

Statement in the middle section below is what Bob experienced

Related Mentions:

WorldometerCoronavirus