Terry Etam, author of The End of the Fossil Fuel Insanity; writer for the BOE Report and blogger for Public Energy Number One, gives an update from Canada on the current oil and gas activity as well as the political vibe.
Etam explains how more regulations have increase issues in industry in both the United States and Canada.
Host Jason Spiess and Etam discuss a “very socialistic” commentary on nationalizing energy. The two point out that from the current discussions in Texas of controlling the market to North Dakota subsidizing oil companies to the ESG movement, examples of encroachment from government to control of industry are more commonplace.
Consolidation in industry is also discussed in detail. From climate activists financially bleeding out companies, to global companies buying up the remains.
The interview also dives into the impact of Chapter 11 bankruptcies. Spiess believes this is going to be a wildcard in the whole rebuilding of company balance sheets and public relations. Etam agrees and offers a couple examples of where Chapter 11 bankruptcies may become more problematic in months ahead.
While operators continue to manage the assets while paying large salaries and bonuses to their executives and political allies, while sending bankruptcy notices to service companies and local governments.
Spiess believes the Chapter 11 Bankruptcy filing strategy is another example of the oil and gas industry changing. He sees and cites more industry executives and special interest groups using government and their subsidies to enabling entitlement and squelch opportunity in industry.
The Crude Life Podcast can be heard every Monday through Thursday with a Week in Review on Friday.
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