The Crude Life Morning Show: Play Hard Work Hard Episode 15
Daily Rig Count
source: tradingeconomics.com
HOUR ONE PLAY HARD: If finally Friday! Jason Spiess and Sterling talk a little sports business in the first hour as the Super Bowl nears.
Sterling lead a conversation from an article on the psychology on losing big games and consecutive losses like when the Buffalo Bills lost four Super Bowls.
Jason transitioned into the news story of the content agreement between the WWE Network and NBC’s Peacock. Jason shared his views on how these two competing streaming networks working together during times of uncertainty should be applauded.
Sterling and Jason continue the dissection of the WWE Peacock deal by folding in past interviews with NCAA Coaching Legend Dale Brown and former NBA All-Star Mark Eaton.
Jason recalled Brown’s views on the importance of longevity in an organization he stated it is vital yet near impossible to achieve in today’s environment. Citing “immediate gratification syndrome,” Brown said John Wooden would have been fired at UCLA if he was coaching in modern time. It took Wooden 13 years to reach the Final Four and according to Brown, too many administrators and fans would have been too greedy for victory. Brown added too many are not concerned about the character that’s going on in the program and would have fired Wooden long before his successful run as one of the most successful coaches in NCAA history.
Eaton used a sports metaphor: the Lakers, Celtics and other great organizations had a central core that stayed together. He said that allows a system to be built while the people learn to work with each other and play off each other. Eaton continued to say that in today’s world it is too corporate and people are to busy climbing on top of each other trying to get ahead. He said the ones who understand the concept of teamwork – if the team wins you win – those who take that attitude “generally have a much happier culture within their organization.” He said the culture within your organization will have a direct impact on your bottom line and your organization’s success.
The final segment in the PLAY HARD portion of the program focused on the changing world of social media and how it plays into the professional world.
Sterling and Jason deep dive into this percolating issue in the social media arena. Topics range from paid likes to using company time for personal branding to how to post social posts after laying off employees. Plus much more, including a prognostication that there will be a major THUMP coming to policies in the world of social media in the next year or so.
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In HOUR TWO we WORK HARD with our Newsmaker Interview: Pete Obermeuller, the President of the Petroleum Association of Wyoming
Interview and summary by The Crude Life Content Correspondent Genneca Houser
Pete Obermeuller, the President of the Petroleum Association of Wyoming, took some time to discuss the ups and downs of 2020 as well as share some hopes and possible fears for what may come in 2021.
We begin by talking about the Petroleum Association of Wyoming; a little bit of history, facts, and what they do. The Association is set up in order to advocate for the members by working with the public and lawmakers to make things happen.
On a sidenote: congratulations to Pete Obermeuller for being listed as #1 lobbyist out of Wyoming’s top 5!
Diving in, we talk about the ups and downs of this last year. Pete talks about how the association handled crisis management through covid to help workers remain in work and keep the public with working electricity. After the situation leveled out a bit, they began working hard with government agencies to help the industry transition to a remote or digital work environment. Then was the goal of helping smooth everything along when it comes to paperwork and penalties. Into the future, the relaxed penalties may end, but it seems the digital advancement may continue even after society returns to “normal.”
“People are kinda really eager to get back together… but I think we’ll see a lot more remote work.” – Pete Obermeuller
Pete goes on to describe what he believes is the biggest success of the association, giving credit to Governor Mark Gordan. He says the greatest success was being able to use the CARES Act to help out the Oil and Gas Industry. Because of the 30 million dollars given to help 65 companies finish projects, more than 150 local vendors and contractors and more than 2500 people were put to work.
“It’s a rare program from the CARES Act standpoint that it’s going to end up resulting in revenue as opposed to just giving out the money.” – Pete Obermeuller
We touch on the “low point” of this last year, when Wyoming dropped to zero rigs for the first time since 1884. It was a historic week, but for not such good reasons creating a level of uncertainty as everyone tries to get everything picked back up. Now there are 6 rigs running in Wyoming and hopefully the demand will continue to come back in a sustainable way. For Pete, he believes the hardest part will be due to how far out to market Wyoming is because of where it’s located.
“The Wyoming surface acreage is about half owned by the federal government, and Wyoming subsurface minerals is almost three quarters, a little over three quarters, owned by the federal government… the Biden administration is not going to be eager to be helpful for us, probably…” – Pete Obermeuller
Pete takes a brief moment to discuss the possibilities of the future regarding the political climate change. There is not a lot of optimism for too much help from the incoming White House administration; both Biden and Harris, as well as the Secretary of Interior nominee, have all spoken out in favor of the banning of fracking on Federal land. We will all have to wait and see how much talk on banning fracking was “political rhetoric” and how much will be made actionable. However, speculation suggests that there may be more regulations and hoops to jump through for the oil and gas industry making, especially when it comes to using federal lands.
Some individuals don’t believe much will change once with a new administration in the Whitehouse because so much of what is being done today was implemented during the Obama administration. Pete explains why this theory doesn’t really hold water in Wyoming – it’s the difference between drilling on private vs. federal lands. The message from the Biden/Harris has remained pretty consistently against using federal lands; what that means for the industry could be a transition to drilling in private land states, essentially making it nearly impossible to drill on federal lands and hindering the economy of Wyoming.
“What Biden and Harris have been talking about will end up shifting production to private land states and, you know, in which case, it will have no measurable impact on the kinds of things that President Biden wants.” – Pete Obermeuller
On a more positive note, Wyoming is ready to work positively towards an improved future. Pete says that if the new administration is willing to work with them, we might all be able to move forward together.
Here’s a brief recap of the “wins” from over the last year. Pete talks about how so many were able to work together to “weather the storm” and the success of the Energy Rebound Program. Even with the major lows, there were still developments to be proud of.
To close the interview, we talk about hopes for the future; including the hopes of having some smooth sailing and calm waters ahead. Aside from that, however, one of the greatest hopes is that people will be listening to the industry workers and realize how much better things could be if there was support from everyone; Wyoming oil and gas could really use the support.
For more information, be sure to go to https://pawyo.org/
Chairwoman of the Texas Railroad Commission Christi Craddick talks about how their regulatory practices and staff have focused on the environment since oil was discovered over 100 years ago.
Sponsors, Music and Other Show Notes
Sponsor of the Day: Titan Solutions
Phone Line Sponsor: Swan Energy, Inc. 866.539.0860
Featured Music: Moody River Band
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