Tony Greer and Josh Young of Bison Interests discuss the current state of the oil market, focusing on the downtrend in crude oil prices and the impact of geopolitical events. They analyze OPEC's strategies and the implications of political changes on energy policy, particularly with the potential return of the Trump administration.

The discussion also covers the future of oil services and the refining sector, highlighting the challenges and opportunities within these industries.

In this conversation, Josh and Tony delve into the complexities of oil valuation, geopolitical risks affecting supply, and the dynamics of small cap E&Ps. They discuss the bullish outlook for natural gas, the potential for price spikes in oil, and the overall market sentiment. The conversation highlights the mispricing of oil, the impact of geopolitical events, and the opportunities within the energy sector, particularly in natural gas and small cap EMPs.