Today we were thrilled to welcome back our good friend Corby Robertson, Chairman of the Carbon Neutral Coalition (CNC). Corby’s extensive career includes over 40 years of global investment and operations in energy and natural resources and as a proud Texan, he is focused on what the state looks like in the decades to come. The CNC’s mission is for the state of Texas to be carbon neutral by 2050 and the organization is focused on the necessary education and regulatory changes to achieve their goal. As always, it was our pleasure to host Corby. 
  
To help frame the discussion, Corby provides a detailed walkthrough of the organization, why the organization is focused on CCUS and their other objectives, and the importance of how the liability and regulatory aspects of CCUS are managed. We also hit on the organization’s management team and their community of advisory board members, the audience the organization is able to reach with social media, and studies that various universities are conducting on economic impact, as well as the incentive bills that could help us implement CNC’s proposals. Corby was last on COBT on March 26th, 2021, and so we also touch on the momentum CNC has created in the past two years, the bills they are currently supporting including the franchise tax credit, property tax credit and liability bills, the upcoming legislative session, and we wrap with Corby’s vision for a more vibrant Texas in ten years. It is fantastic to see the progress the CNC has made and we’re excited to watch and support their efforts in the years to come. 
  
Mike Bradley kicked off the show flagging a few key items including the upcoming FOMC meeting (March 22nd), implications of rising rates and what markets are expecting (consensus = 25bp hike). He highlighted that high inflation, the FED aggressively hiking rates and recent banking instability all have roots in governments globally outspending. He rounded out the segment by noting that global crude oil price weakness has less to do with current supply/demand fundamentals and more to do with a global risk off trade, and that equity investors, though modestly more concerned with 2H’23 global demand, are even more concerned with global upstream underspend, which will support higher “normalized” commodity prices. Jeff Tillery touched on recession concerns and historical context of energy demand. 
  
Thanks again to Corby for a fantastic discussion and thanks to you all for your support and friendship.