WEBVTT - 3-25-26 Scott with Dan Eberhardt

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<v Speaker 1>You want to be an American.

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<v Speaker 2>It's got a film show on seven hundred WOLW twenty

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<v Speaker 2>four hours before the Grand Show with the Holy Grail

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<v Speaker 2>Banks Opening Day twenty twenty six on the Home of

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<v Speaker 2>the Red seven hundred WW.

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<v Speaker 1>It can't wait for it.

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<v Speaker 3>Gonna cost you a little bit more to get downtown

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<v Speaker 3>for the Fidling Market opening Day parade or the game itself,

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<v Speaker 3>as gas today costs more than it has in nearly

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<v Speaker 3>four years. Lois price for you is about three twenty

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<v Speaker 3>six in Hamilton according to gas Buddy, but the average

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<v Speaker 3>is now very close to four dollars a gallon, which

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<v Speaker 3>is on par with the national average. So we have

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<v Speaker 3>Iran shutting down the straight of her moves. That's the problem.

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<v Speaker 3>We have an explosion yesterday at major refinery in Texas

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<v Speaker 3>just outside of Houston, and the switch to summer blended

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<v Speaker 3>fuel all happening at the same time. The question is

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<v Speaker 3>will we and could we see five dollars a gallon

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<v Speaker 3>gasoline on? That is Dan Eberhard Danzen Oil and Gassingery

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<v Speaker 3>inside with Canary and everheard capital. He's actually Landman. Landman

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<v Speaker 3>is on the show. Dan, Good morning, how.

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<v Speaker 4>Are you good? Good morning? Good morning. I'm doing well.

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<v Speaker 1>By the way.

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<v Speaker 3>I'm sure presumably you've seen the show uh land Man,

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<v Speaker 3>which is one of the best TV shows Tyler Sheridan.

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<v Speaker 3>You just could continue to hit it in the park.

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<v Speaker 3>But how accurate is a lot of stuff that happens

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<v Speaker 3>in there.

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<v Speaker 4>I think it's I mean drama dramatized, but I mean

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<v Speaker 4>I would say it's accurate, but it's it's more like,

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<v Speaker 4>you know, there's weeks and weeks of normalcy and then

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<v Speaker 4>an episode not back to right right.

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<v Speaker 3>Yeah, because I mean, I mean, if your life was

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<v Speaker 3>actually like Tommy, your head would explode. I mean, there's

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<v Speaker 3>no human it's just you can't have that much coming

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<v Speaker 3>at you when one day it's impossible.

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<v Speaker 4>Oh yeah, yeah, no, it's it's you know, look, the

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<v Speaker 4>oil business is a business like any other, but just

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<v Speaker 4>it it gets chaotic at time. This is this is

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<v Speaker 4>one of them.

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<v Speaker 1>Yeah, yeah, it's a great it's a great watch.

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<v Speaker 4>Yeah.

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<v Speaker 3>And and of course you know then there's the ex

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<v Speaker 3>wife reality too, but that's that's probably true in life

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<v Speaker 3>as well. So Dan, you know, I know that you've

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<v Speaker 3>been doing this for a long time, have been covering

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<v Speaker 3>energy markets for decades, so put it on a scale

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<v Speaker 3>of one to ten. How serious is this hor Mooz

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<v Speaker 3>crisis compared to others disruptions you've seen in your career.

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<v Speaker 4>Oh, I mean this is probably a twelve. I mean

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<v Speaker 4>this is I think this is a bigger deal. You know,

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<v Speaker 4>I've been kind of going back to these seventy boil shocks,

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<v Speaker 4>and for the world, I think it's a bigger deal.

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<v Speaker 4>For the US, I think it's not as big of

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<v Speaker 4>a deal because of cracking and we are more self

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<v Speaker 4>sufficient than we were. But look, the news stories are

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<v Speaker 4>mostly about the straight of hor Moods, which is extremely important.

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<v Speaker 4>But something that I feel like at least slightly being

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<v Speaker 4>lost here is so they're taking an infrastructure there. You know, look,

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<v Speaker 4>Middle Eastern production is down about ten million barrels a day,

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<v Speaker 4>and I think that some of this infrastructure is going

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<v Speaker 4>to take years to rebuild.

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<v Speaker 3>Years to rebuild, which means four dollars gallon gasoline is

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<v Speaker 3>here to stay.

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<v Speaker 4>Is after saying no, I think in the open for Moods,

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<v Speaker 4>I think we'll see guys clean praise is fall a

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<v Speaker 4>gallon here in the US within two weeks. But I

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<v Speaker 4>think for Europe this is this is a bigger problem

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<v Speaker 4>for European But it's a pretty big property entire.

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<v Speaker 3>If we actually de escalate, Dan, you're breaking up a

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<v Speaker 3>lot right now. Let me I'll reset for a second here.

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<v Speaker 3>Maybe you can get the higher ground, get a better sell.

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<v Speaker 3>We saw Brent crude hit one hundred dollars a barrel

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<v Speaker 3>early this month of the first time in four years.

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<v Speaker 1>Uh one twenty six is peak.

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<v Speaker 3>The closure has been called the largest energy supply to

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<v Speaker 3>our disruptions, you said since the nineteen seventies.

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<v Speaker 1>I don't think that's overhyped at all.

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<v Speaker 3>But if we get to one fifty a barrel, we're

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<v Speaker 3>talking five dollars gasoline. What's the reality this summer here

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<v Speaker 3>in Cincinnati, in the tri state for that to happen.

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<v Speaker 4>Oh, I think I think we're you know, four dollars

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<v Speaker 4>a gallon. I think we hit a demand destruction at

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<v Speaker 4>five dollars a gallon. I think we're looking at people

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<v Speaker 4>trying to, you know, use eight to ten percent less gasoline,

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<v Speaker 4>which is a lot of trips not happening.

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<v Speaker 1>Yeah, I think the CEO of United said that.

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<v Speaker 3>You CEO of United just said that our gas prices

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<v Speaker 3>are probably going to go up twenty percent your ticket

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<v Speaker 3>costs go up twenty percent basically, and they're going to

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<v Speaker 3>spend eleven billion dollars on fuel this year. So if

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<v Speaker 3>you have a trip planned, you better book it right

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<v Speaker 3>now because you're if you wait till the last minute,

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<v Speaker 3>the cost is going to go through the roof.

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<v Speaker 4>Yeah. No, I think that we're going to be seeing

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<v Speaker 4>that all all over the economy. And like I said,

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<v Speaker 4>you know, every everything is the fact that you know,

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<v Speaker 4>the price of rubber, the price of your Amazon delivery,

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<v Speaker 4>the price of your uger, the price of your plane ticket.

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<v Speaker 4>Oil factors into everything, So it's something we should all

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<v Speaker 4>watch out for, and I think it if this doesn't

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<v Speaker 4>end soon, we're going to see consumers tighten their bell

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<v Speaker 4>a little.

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<v Speaker 3>Yeah, Dan, you mentioned that, you know, the hormones closure

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<v Speaker 3>doesn't really affect the US as much because we produce

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<v Speaker 3>so much of our own oil, but experts kind of

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<v Speaker 3>push back on that and saying that it's because it's

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<v Speaker 3>it's a global oil market. Everything goes into the same kettle,

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<v Speaker 3>so to speak, no matter where it comes from from

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<v Speaker 3>the Earth, it all goes in the same supply. So

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<v Speaker 3>if something goes wrong anywhere, prices go up everywhere. And

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<v Speaker 3>you mentioned also fracking and of course alternate fuel sources

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<v Speaker 3>and the premium basin. When we're drilling baby drill, we

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<v Speaker 3>have venezuela as well. How much is that I'll set this.

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<v Speaker 4>Well, I you know, I do venezuela thing will help

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<v Speaker 4>us in the long term. I don't think it's a

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<v Speaker 4>fix for this because they need infrastructure to something. Yeah,

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<v Speaker 4>that takes time and money, but I do think Look,

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<v Speaker 4>you know, I pushed back a little bit on what

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<v Speaker 4>you just said, because there's two prices for world oil

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<v Speaker 4>is thought of in WTI and bread, right, there are

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<v Speaker 4>two different prices, and the US market is mostly self contained.

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<v Speaker 4>We import about eight percent of our oil, A lot

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<v Speaker 4>of that actually comes from Canada. The US is largely

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<v Speaker 4>self contained. Otherwise this will be worse right now for US?

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<v Speaker 3>Yeah, yeah, I mean I guess if we're self contained,

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<v Speaker 3>so it would be worse. It hits us less, but

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<v Speaker 3>that that gives our economy a distinctive advantage then too.

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<v Speaker 3>If we have a reliable supply of oil, and granted

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<v Speaker 3>our prices will go up just because it's going to

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<v Speaker 3>but maybe not as the rest of the world.

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<v Speaker 1>That gives us a pretty strategic advantage then.

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<v Speaker 4>Oh no, I think this is relative to Europe. This

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<v Speaker 4>is good for us. And one of the things not

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<v Speaker 4>being covered is the oil price really affects the price

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<v Speaker 4>of fertilizer, which is actually a very big deal in

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<v Speaker 4>the African economy, and they're going to be hit very

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<v Speaker 4>negatively by by all of this.

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<v Speaker 3>He's Dan Eberhart, oil gas industry insider on the show

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<v Speaker 3>this morning, and the reality of five dollars a gallon

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<v Speaker 3>gasoline we could see it the summer is what a

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<v Speaker 3>lot of experts are saying right now.

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<v Speaker 1>And who knows.

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<v Speaker 3>I mean, again, our supply is much better than the

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<v Speaker 3>rest of the world ward and again we love Drill

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<v Speaker 3>Baby Drill because of that too. Is they keep cutting

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<v Speaker 3>the straight of her moose off every few years, and

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<v Speaker 3>this is what winds up happening. And it's not just

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<v Speaker 3>a physical ball play, but I think it's interesting too.

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<v Speaker 3>The inside baseball thing here is insurance withdraw you know,

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<v Speaker 3>there are risk premiums have gone up four or five times,

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<v Speaker 3>meaning the outcome for cargo flow is largely the same

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<v Speaker 3>as a physical blockage. Can you lay that out for

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<v Speaker 3>our listeners who and maybe myself, we don't really understand

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<v Speaker 3>the insurance angle here.

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<v Speaker 4>Sure, Typically the insurance is is maybe three or four

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<v Speaker 4>percent of a shipment, and these oil tinkers, uh, you know,

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<v Speaker 4>I'll to one hundred million, one hundred and fifty million

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<v Speaker 4>barrels of oil. So these are these are giant investments

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<v Speaker 4>for people that are very expensive to ensure. That insurance

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<v Speaker 4>through the straight and four moves is now, on my understanding,

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<v Speaker 4>costing fifteen to sixteen percent of cargo instead of three

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<v Speaker 4>to four percent. And the insurance companies don't really they're

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<v Speaker 4>they're trying to price the people so that they don't

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<v Speaker 4>take the voyage, not so they take the voyage and

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<v Speaker 4>take the money.

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<v Speaker 3>Yeah, obviously the risk goes up, the cost of insurance

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<v Speaker 3>is going to go up as well. And that's just

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<v Speaker 3>one of those unseen add fees that that that we

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<v Speaker 3>all pay for when we.

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<v Speaker 1>Go to the pump.

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<v Speaker 4>Yeah. No, look this this it reverb rates through the

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<v Speaker 4>cost of everything and it's driving everything up.

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<v Speaker 2>You know.

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<v Speaker 4>Another point I'll make is, you know, in the US,

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<v Speaker 4>we spend three or four percent of our UH consumer

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<v Speaker 4>spending is on energy, and a lot of third world

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<v Speaker 4>country it's something like nine to eleven percent. So though

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<v Speaker 4>you'll see for those folks, it's gonna it's gonna hit

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<v Speaker 4>even even worse.

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<v Speaker 3>Yeah, Dan, I do a lot of my good thinking,

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<v Speaker 3>if you can call it that, on the toilet. I

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<v Speaker 3>I know about you, but we had a kind of

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<v Speaker 3>a I said, you know, we have the Panama Canal

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<v Speaker 3>and I'm looking in my head, in my mind, and

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<v Speaker 3>I'm picturing the strain of Horror Moves, which is like

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<v Speaker 3>a peninsula just kind of juts out there. And the

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<v Speaker 3>problem is there's a choke point, and Iran can easily

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<v Speaker 3>shut it down by attacking any ships that go through there.

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<v Speaker 3>So it's very pretty narrow, about thirty miles wide if

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<v Speaker 3>we're going to circumvent that. Now, the terrain from Google

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<v Speaker 3>Earth looks pretty intimidating. There's those mountains and everything else,

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<v Speaker 3>and it's certainly not the same situation as we did

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<v Speaker 3>in Panama.

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<v Speaker 1>But I'm trying to think of an alternative.

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<v Speaker 3>It's like, is there a way that those Gulf States

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<v Speaker 3>can can do a pipeline or something that prevents us

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<v Speaker 3>from happening in the future that seems like be the

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<v Speaker 3>best bad is that a problem that's unsolvable?

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<v Speaker 4>I mean, in the long term, you could have a pipeline,

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<v Speaker 4>but the problem is that you know, pipeline is going

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<v Speaker 4>to take within years to build. Yeah, it's not something

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<v Speaker 4>that can be done in ninety days at all.

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<v Speaker 3>Right, Well, that would be far more for future proofing,

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<v Speaker 3>right at some point the Gulf States, who are pretty

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<v Speaker 3>much united against Iran right now, is the rest of

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<v Speaker 3>the Middle East. It seems that that'd be a good thing.

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<v Speaker 3>That was like, hey, listen, if we just start doing

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<v Speaker 3>pipelines now and it's going to take thirty years to build, sure,

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<v Speaker 3>but who knows what that nation's going to look like

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<v Speaker 3>in thirty years. It could be worse than we have

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<v Speaker 3>right now. It seems like that'd be a good hedge

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<v Speaker 3>against bet.

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<v Speaker 4>Yeah, that's the scary thought that it could be worse.

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<v Speaker 4>I think it would be a good head But I

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<v Speaker 4>think if somebody's got to be thinking five to ten

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<v Speaker 4>years in the future, not about the next ninety day

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<v Speaker 4>for that to happen, and it has happened, I forgot.

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<v Speaker 3>We're living in the in the day and age of

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<v Speaker 3>investing groups of course, and sharks and everything else, and yeah,

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<v Speaker 3>we don't even think about the next quarter. We're thinking

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<v Speaker 3>about the next day right now. Let alone thirty years

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<v Speaker 3>from now. There's no long term planning in any business.

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<v Speaker 3>I forgot, I forgot what year I live in here

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<v Speaker 3>for a second, there, Dan, So the it's about twenty

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<v Speaker 3>million dollars, twenty million barrels a day.

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<v Speaker 1>I believe it's the number.

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<v Speaker 3>It's about twenty percent of global petroleum consumption that goes

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<v Speaker 3>through the Strait. And I mentioned there a few pipeline

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<v Speaker 3>alternatives there can bypass it. So are there any of

0:09:57.559 --> 0:09:59.800
<v Speaker 3>the workarounds here? I mentioned, you know, taking a kind

0:09:59.800 --> 0:10:02.040
<v Speaker 3>of dig baby dig lay pipe.

0:10:04.280 --> 0:10:07.640
<v Speaker 4>In the long term, US producers can produce more, in

0:10:07.679 --> 0:10:09.880
<v Speaker 4>Saudi Arabia can produce more, but again that's something that

0:10:09.920 --> 0:10:12.160
<v Speaker 4>takes time. The way that I look at the problem

0:10:12.280 --> 0:10:15.480
<v Speaker 4>is it's like a twenty percent of supply problem, and

0:10:15.559 --> 0:10:17.559
<v Speaker 4>the buttons of the US government has are like one

0:10:17.600 --> 0:10:19.959
<v Speaker 4>percent button. So I mean, we can do, you know,

0:10:20.080 --> 0:10:22.920
<v Speaker 4>release the strategic particularly and reserve we countentially the thing

0:10:22.960 --> 0:10:25.600
<v Speaker 4>that I've been advocating for to spend the national gas

0:10:25.720 --> 0:10:29.160
<v Speaker 4>tax for ninety days or six months. There's different levers

0:10:29.200 --> 0:10:31.800
<v Speaker 4>the US government has that it can pull, but I

0:10:31.880 --> 0:10:34.199
<v Speaker 4>think those are are just frankly not big enough to

0:10:34.280 --> 0:10:35.360
<v Speaker 4>solve the problems in the world.

0:10:35.559 --> 0:10:38.200
<v Speaker 3>Yeah, Dan, I know you're you're a pro Trump guy,

0:10:38.280 --> 0:10:42.240
<v Speaker 3>yourself a Republican, and I read something you said. You

0:10:42.360 --> 0:10:44.880
<v Speaker 3>warned that steel chairs to make the industry less competitive

0:10:44.880 --> 0:10:47.360
<v Speaker 3>against opek. How does steel relate to what we're talking about.

0:10:47.120 --> 0:10:51.200
<v Speaker 4>Here, Well, you know, it goes into the drilling process.

0:10:51.320 --> 0:10:56.319
<v Speaker 4>The wellheads that we sell, cantry and the drilling you know,

0:10:56.440 --> 0:10:58.120
<v Speaker 4>drilling rigs and all this stuff are all you know,

0:10:58.240 --> 0:11:00.680
<v Speaker 4>you have metal components. So because the mettal goes up,

0:11:01.600 --> 0:11:01.920
<v Speaker 4>makes the.

0:11:03.160 --> 0:11:06.240
<v Speaker 3>Yeah that makes sense. Yeah, yeah, okay, I get I

0:11:06.320 --> 0:11:08.000
<v Speaker 3>get the connection there. Yeah, because you've got to pay

0:11:08.000 --> 0:11:10.080
<v Speaker 3>if your your you know, it's not like the uh,

0:11:10.280 --> 0:11:14.679
<v Speaker 3>the equipment you use to drill and add infrastructure is

0:11:15.280 --> 0:11:17.000
<v Speaker 3>going to last forever. You've got to replace it. And

0:11:17.120 --> 0:11:19.280
<v Speaker 3>so steel goes in. Once the pipes in the ground,

0:11:19.320 --> 0:11:20.719
<v Speaker 3>it stays there. It's not like you pull it back

0:11:20.720 --> 0:11:23.720
<v Speaker 3>out like a drill bit. I get that fifteen million

0:11:23.760 --> 0:11:25.760
<v Speaker 3>barrels a day though, or twenty million, it's not easy

0:11:25.760 --> 0:11:28.000
<v Speaker 3>to offset everywhere. That's pretty much the total production of

0:11:28.400 --> 0:11:31.240
<v Speaker 3>the United States, and we're the biggest producer in the world.

0:11:31.280 --> 0:11:33.360
<v Speaker 3>That that's the squeeze right there. We're cranking out right

0:11:33.440 --> 0:11:35.320
<v Speaker 3>now as much as we can. You run an oil

0:11:35.360 --> 0:11:38.319
<v Speaker 3>field services company, land Man, when you hear there's no

0:11:38.440 --> 0:11:39.360
<v Speaker 3>easy fix, is that.

0:11:40.400 --> 0:11:43.280
<v Speaker 1>This is that practical. There's got to be there's got

0:11:43.400 --> 0:11:43.920
<v Speaker 1>to be something.

0:11:43.760 --> 0:11:47.600
<v Speaker 4>We can I mean we can us production kIPS potentially

0:11:47.720 --> 0:11:49.920
<v Speaker 4>go up, you know, five million barrels a day, but

0:11:50.000 --> 0:11:54.240
<v Speaker 4>again that would take a higher cost than you're seeing

0:11:54.280 --> 0:11:58.960
<v Speaker 4>now and time. There's no easy there's there's no fix

0:11:59.600 --> 0:12:02.040
<v Speaker 4>other than opening the straight. There's no fix. And I

0:12:02.120 --> 0:12:04.240
<v Speaker 4>think what we're going to find out is a lot

0:12:04.320 --> 0:12:06.559
<v Speaker 4>of the infrastructure and the lease has been damaged and

0:12:06.640 --> 0:12:08.120
<v Speaker 4>will take a while to come back online.

0:12:09.320 --> 0:12:11.559
<v Speaker 3>Trump is going to release or talking about releasing, or

0:12:11.600 --> 0:12:13.520
<v Speaker 3>has released. I guess one hundred and seventy two million

0:12:13.600 --> 0:12:16.240
<v Speaker 3>barrels from the strategic poet patrols, you know, Biden at

0:12:16.240 --> 0:12:18.160
<v Speaker 3>every president, I think feels like it is they've done that,

0:12:18.280 --> 0:12:20.160
<v Speaker 3>and it doesn't move the needle at all because it's

0:12:20.280 --> 0:12:24.199
<v Speaker 3>it's literally a spit in the ocean. I was told

0:12:24.320 --> 0:12:27.000
<v Speaker 3>I was reading something from a gas buddy before you

0:12:27.120 --> 0:12:30.240
<v Speaker 3>came on this morning, and there an analyst said there's

0:12:30.280 --> 0:12:31.400
<v Speaker 3>a warning a double headwind.

0:12:31.400 --> 0:12:32.360
<v Speaker 1>I believe it is what they call it.

0:12:32.520 --> 0:12:34.760
<v Speaker 3>You've got the supply shock with a RAN and the

0:12:34.880 --> 0:12:37.959
<v Speaker 3>I mentioned the open normal seasonal transition to the more

0:12:38.040 --> 0:12:41.000
<v Speaker 3>expensive summer blend glass line required by the clean air RAG.

0:12:41.120 --> 0:12:44.040
<v Speaker 3>So what does that mean in real dollars for people

0:12:44.080 --> 0:12:44.720
<v Speaker 3>listening this morning?

0:12:45.160 --> 0:12:47.120
<v Speaker 4>And I think there's a lot of upward pressure on

0:12:47.160 --> 0:12:48.760
<v Speaker 4>the gas price. And I was back to then into

0:12:48.760 --> 0:12:50.439
<v Speaker 4>your summer plans and your your family.

0:12:50.880 --> 0:12:52.520
<v Speaker 3>Yeah, there's no claw on that money back. And you

0:12:52.559 --> 0:12:55.840
<v Speaker 3>know we're twenty percent from the CEO of United Airlines,

0:12:55.880 --> 0:12:58.400
<v Speaker 3>so book now, I guess the is the mantra Here.

0:12:58.920 --> 0:13:01.240
<v Speaker 3>Goldman says that this rate stays closed for more than

0:13:01.280 --> 0:13:03.040
<v Speaker 3>two months, oil could stay above one hundred and ten

0:13:03.040 --> 0:13:05.480
<v Speaker 3>bucks a barrel through the end of twenty twenty seven.

0:13:06.000 --> 0:13:08.920
<v Speaker 3>And they've already pushed their uh first Federick cut call

0:13:09.000 --> 0:13:11.800
<v Speaker 3>back to September because the oil are we is this

0:13:11.840 --> 0:13:13.679
<v Speaker 3>gonna factor in the stagflation in your opinion?

0:13:15.240 --> 0:13:17.840
<v Speaker 4>I think I think potentially. So look, look here here's

0:13:17.880 --> 0:13:19.560
<v Speaker 4>the thing. If they if they say in an hour

0:13:19.600 --> 0:13:22.080
<v Speaker 4>they're going to open the straight offour moves I think

0:13:22.160 --> 0:13:24.160
<v Speaker 4>to get I think it will take six months to

0:13:24.200 --> 0:13:25.480
<v Speaker 4>get the closed back to.

0:13:25.480 --> 0:13:27.600
<v Speaker 1>The law six months.

0:13:27.720 --> 0:13:33.120
<v Speaker 4>The market, Yes, the market. The market spoof The owners

0:13:33.160 --> 0:13:35.480
<v Speaker 4>of the vessels are spoofed, the people on the vessels

0:13:35.520 --> 0:13:38.520
<v Speaker 4>are spoofed. I mean, look, if they said they were

0:13:38.559 --> 0:13:40.559
<v Speaker 4>opening in an hour, which you wanted to, would you

0:13:40.600 --> 0:13:42.240
<v Speaker 4>win on the first ship going through this?

0:13:43.360 --> 0:13:45.280
<v Speaker 1>Yeah, because somebody doesn't get the memo.

0:13:45.160 --> 0:13:48.439
<v Speaker 4>Right, Yeah. So I mean if it's if it's your

0:13:48.480 --> 0:13:51.480
<v Speaker 4>life and these things move incredibly slowly and what they're doing,

0:13:51.640 --> 0:13:54.480
<v Speaker 4>the need to be so fast boats like the cigarette

0:13:54.559 --> 0:14:00.000
<v Speaker 4>boats and basically comic casey drones to plow into the side.

0:14:00.760 --> 0:14:06.720
<v Speaker 4>So I really do against the comic cosy figurette. Yeah.

0:14:07.000 --> 0:14:08.840
<v Speaker 3>And you know, you can have the United States Navy

0:14:08.880 --> 0:14:12.240
<v Speaker 3>the best fighting force in the world, those small craft

0:14:12.280 --> 0:14:14.200
<v Speaker 3>are gonna be very difficult to stop no matter how

0:14:14.240 --> 0:14:16.520
<v Speaker 3>many drones or anything else you have activated.

0:14:16.720 --> 0:14:18.200
<v Speaker 1>You know, could be subs, could be anything.

0:14:18.720 --> 0:14:21.560
<v Speaker 3>They're gonna be really really hard to get because of

0:14:21.640 --> 0:14:24.320
<v Speaker 3>the size and just how slow these targets move. He

0:14:24.720 --> 0:14:26.800
<v Speaker 3>again on the show this morning is Dan Everhart. He's

0:14:26.840 --> 0:14:29.520
<v Speaker 3>an oil gas industry insider, Canary and ever Heard Capital

0:14:29.560 --> 0:14:31.800
<v Speaker 3>and actual landman. Dan, all the best, thanks for jumping

0:14:31.840 --> 0:14:34.240
<v Speaker 3>on the show this morning and and depressing us here

0:14:34.280 --> 0:14:35.320
<v Speaker 3>the day before opening day.

0:14:36.800 --> 0:14:39.720
<v Speaker 4>Thanks, thanks uh thanks for thanks for having me.

0:14:39.840 --> 0:14:41.560
<v Speaker 3>I appreciate you, buddy. Thanks again. I know you're a

0:14:41.560 --> 0:14:44.440
<v Speaker 3>busy man. Not the news you wanted to hear, but

0:14:44.600 --> 0:14:47.480
<v Speaker 3>that's the reality. So planning, planning, planning, Do not wait

0:14:47.520 --> 0:14:50.080
<v Speaker 3>till the last minute to book your travel for the summer.

0:14:50.160 --> 0:14:52.800
<v Speaker 3>The gas prices are gonna go up before they go down.

0:14:53.200 --> 0:14:55.040
<v Speaker 3>Scott's Loan Show with news on the way in just

0:14:55.120 --> 0:14:56.720
<v Speaker 3>minutes on seven hundred WLW