We are very pleased to share a special Fourth of July edition of COBT. Earlier in the week, we had the opportunity to tour the Lone Star Flight Museum (LSFM) and to sit down with Jerry Scott, LSFM’s Chief Operating Officer and Director of Flight Operations. The museum draws visitors from all over the world and features flying historical aircraft, many of them iconic military planes. Jerry was named COO in June 2024 and has 40 years of experience in aviation sales as well as people, project, and logistics management. He previously served as a volunteer at LSFM for 15 years and as a crew chief and plane captain for several of the museum’s aircraft. For our conversation, we sat right next to a B-25, the same type of aircraft flown by Jimmy Doolittle and his squadron. This particular plane has been meticulously restored to the exact standards of the Doolittle Raiders’ aircraft, making it an especially unique setting for our discussion. We were thrilled to visit with Jerry and to get to spend time with the team at the museum. Special thanks to LSFM’s CEO Anna Hawley for all her help in particular.
 
In our conversation, we explore the parallels between modern military missions and World War II operations, the extraordinary bravery of the Doolittle Raiders, the unique similarity of the Doolittle mission to the recent US strikes on Iran, and Jerry’s personal journey and passion for aviation. We discuss LSFM’s mission to honor veterans and preserve their stories for future generations through a living, flying museum, the pilot training progression required to fly historic aircraft, the museum’s move from Galveston to Ellington Field after Hurricane Ike, and the critical role of volunteers in keeping the operations running. Jerry shares insights into the museum’s reach, welcoming over 100,000 visitors annually, its rotating aircraft exhibits, and its broader community impact through educational programs and events. We reflect on Jimmy Doolittle’s legacy, the spirit of innovation and sacrifice that defines American aviation history, and the museum’s vision to inspire future leaders. As mentioned, the “Thirty Seconds Over Tokyo” film is available on Amazon Prime (linked here). A huge thank you to Jerry and the team at LSFM for their support in making today’s episode possible. We highly recommend planning a trip to the museum to see the aircraft up close!
 
To start the show, Mike Bradley highlighted a handful of key events that influenced markets in 1H25 including President Trump’s import tariffs (Day of Liberation), Trump’s One Big Beautiful Budget Bill (OBBB), the Israeli-Iranian War/U.S. strike on Iranian nuclear facilities and OPEC’s substantial/surprising accelerated oil output hikes.
 
For our Canadian friends, we hope you had a fantastic Canada Day on Tuesday. For everyone celebrating the Fourth today, we hope you have a great day filled with food, family, friends, and fun. God bless you, and God Bless America.
 
Have a wonderful Independence Day!