The series over the last week was a great set up for Q3 earnings, and man am I excited.  So let’s get the last of the optimism out of the way. (Because I’m gonna roll up the sleeves and get dirty next week…)

I believe with 100% confidence that the world will continue to need energy, from all sources and in particular, oil and gas.

I believe that prices- the lifeline and anchor to the industry- will have to match the price of the marginal local bbl and mcf. And that bbl and mcf is produced in North America. 

I believe that there are projects that shareholders would ante up if they were investing their own dollars directly. 

I believe that changing the way we think about investment and profitability will improve the economics, and therefore the stability of our industry. 

Teams at companies everywhere are faced with extreme challenges, and unfortunately, some won’t make it.  But the survivors will have added a tremendous barrier to entry: they will own all the assets worth owning and will be executing a business strategy that works: one that actually makes money and gives it to shareholders, instead of pouring it back into the ground.

2020 is here and there’s a lot of work to be done.  On with earnings…

#hottakeoftheday