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You're listening to Carrie Letz's Financial Survival
Network, where you get valuable information you

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in today's trying times. You need the

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and get your free newsletter in gift
Financial Survival Network now more than ever,

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And welcome you are listening to watching
the Financial Survival Network. I'm your host,

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Carrie lets Well. Energy, green
energy, all the rage, but

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for the time being and for the
foreseeable future, your lifestyle, the country's

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prosperity, the world's prosperity depends on
what happens in the oil patch, particularly

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crude oil and natural gas. And
our next guest, Decarter, expert in

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both the calls Texas his home and
he's right in the middle of the oil

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patch. See, it's great to
have you back. And it's been a

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little frantic, crazy time in the
oil patch recently. Huh reb he has

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curing back. I appreciate it.
We've yeah, he's been a little bit

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crazy out here. The all prices
have gone up and down in sideways for

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about the last six months or so. But we're settling in right now.

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All prices are flectuating. We're in
between seventy seven and seventy eight dollars a

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barrel. But there's a good deal
of concern out there about where the price

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is going on in your future.
As of yesterday, for exactly the all

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prices for barrel posted his first weekly
loss in about five weeks. As as

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worries are beginning or continuing about the
economic outlook, which are so by the

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baby on demand worries what the demand
is going to be for the summer time.

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So so right now we're in the
mid seventy range for crude oil,

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and we're in the low two dollars
range for that gass. There's the right

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urgins there again. Well, you
know West Texas Intermediate for June delivery was

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down about one and a half percent
the delivery and this is important the deliveries.

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When you're talking about the price,
you've got to also mention how the

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delivery is coming out. On Tuesday, which the year it was about seventy

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seven dollars a barrel, it was
down five and a half percent for the

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week. The delivery was jin Brent
crude, which is another one of the

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it's the global benchmark which runs it
was. It was eighty dollars and seventy

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cents of barrel on Tuesday this week, but it was down two and a

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half percent on the delivery, leaving
it down more than nearly six percent or

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the week. So there's the delivery
problems our concern right now going into the

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summer months. You know, gasoline
rose about old one percent over this last

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week, but there's a lot of
concern out there about the consumption in the

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pursuable future due to the fear of
apostle recession, high cost of traveling right

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out last it's almost to flight at
Dallas from Midland as it is to drive

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out there because it casts of gasoline. So there's some concerned out there.

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Obviously, analysts are worrying about the
ongoing monetary policy tightening about the Fed and

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Central banks, but they sparked a
global economic slowdown and those are party to

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blame for the olds losses this week. But we're seeing some chain things in

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the industry right now, and it
really has a lot to do with what's

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going on in the government and how
they're operating things and what they're doing right

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now. We're seing some changes right
now. Yes that is for sure,

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a lot of turmoil, a lot
of uncertainty, and there doesn't seem to

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be any end to it in sight. You know, we had some we

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had some optimism last week when China
uh their economic recovery, when they when

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they lifted the year COVID nineteen curves
that they had in late twenty twenty two,

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and they lifted those, there was
some optimism out there about the way

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things might come with the patroleum industry. That went down pretty quickly. I

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mean the medium term, the market
is just too complacent. When production saut

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Arabia and another a number of other
OPEC countries, they're scaling back in May

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this year, and I think the
market's going to be noticeably undersupplied, which

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is going to be interesting. And
you know what happens when the undersupply of

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oil comes up. Gasoline prices go
up because there's less oil to make gasoline,

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and so you're going to see a
price up the barrel, go up

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and at the pulp, and I
think that's going to happen in the month

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of May and June this year.
So we're seeing an increase in the price

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due to the fact that they're scaling
back the supply the OPEC countence, particularly

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even though in the United States we're
doing some great things. We have one

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refinery in Texas in Houston Area,
one of the largest of the seven major

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refineries in the country, has added
two hundred and fifty thousand barrel of day

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capacity for gasoline for oil. So
that's like a new refinery going online basically

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without having to jump through the hoops
that the government provides our request requires for

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starting refinery. So I think we're
going to see some assistance there, but

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it's not going to offset the downturn
with what Opeki is going to do and

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what Saudi Arabia is going to do. Yeah, well, it's definitely.

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I read about the expansion taking place. It's like the largest refinery expansion in

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the past decade. And since you
can't build a new one, you kind

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of have to expand the old ones. I think they call it refining,

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and that's what they're doing. They're
adding capacity. A lot of those smaller

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refineries you're are increasing their capacity,
and larger ones are adding a lot more

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capacity. But I'm gonna see some
about I think the daily ALSOP fly on

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the second half of twenty twenty three
is likely to be around old one and

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a half to two million barrel shy
the demand. So if that's the case,

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you're going to see prices go up. So if you're going on a

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vacation, so when you plan to
drive, be prepared to play a little

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bit more for it. That means
also the jet fuel is going to go

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up, so the price of airlines
are gonna ticket's gonna as well. So

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we're going to have an interesting summer
I think from the oil standpoint, Yeah,

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I think it's going to be interesting
alright. And uh and I don't

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think basically people out there are prepared
for it. No, they're not.

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I totally agree with that. I
uh, they we've kind of fallen into

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this period of being too relaxed with
the way things are going in and the

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fact that Opak is dropping their production
and Saudi Raby's drocking their production, Russia

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is dropping their production. That's going
to put a bind on everything. And

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I'm not sure that the guys are
geared up quickly enough to offset the difference.

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And in fact, I'm not even
sure that the government is going to

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allow them to increase the production to
that level. The drilling situation is interesting.

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There's about three hundred and seventy one
rigs in Texas going around about three

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hundred thirty those byway or right in
my neighborhood. I can go out in

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my backyard practically and see half a
dozen level but we're just not drilling it.

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We're adding maybe one rig a week. That's not enough to keep up

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with the downturn and what the production
supply will be coming up for twenty points,

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right, So we're gonna have some
real interesting things to take place be

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to a now on the end of
point points. Well, you know,

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the interesting thing day is that since
gas prices were decontrolled, oil prices are

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decontrolled by Reagan, and that I
want to say seventy eight, but I

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don't think that's right. Eighty two, maybe eighty two, eighty one ad

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two. We haven't had any lines
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throw now more than ever. No, we haven't had and we I don't

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know that we'll see that but to
that critical situation. But it's going to

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be to the point where people won't
be driving as much. And then I'm

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not going to be traveling as much
as the summer calls, either the prices

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will be too high to pay or
the gasoline will not be available due to

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the downturn in the supply. So
we're going to see you better plan your

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racations will in advance because you're going
to see some changes. I think the

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summer in this fall, and the
supply and demand or the demand's gonna go

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down due to the fact that people
just aren't traveling a smutch. People just

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don't drive around and jump in their
car and take off, like in Texas,

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if you're going to go someplace.
For example, I live in Midland,

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Texas. We're in the middle of
nowhere, and that's why it's called

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Midlands Ech. We're three hundred miles
from Fort Worth, one hundred miles from

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San Antonio, three hundred miles from
El Paso. We're right out in the

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middle of nowhere. So anywhere we
go to go to do anything, we've

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got to drive three hundred miles or
fly. So the consumption of oil out

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here is just to be harbor because
it's far to go to getwhere. But

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we're going to see that all over
the country. If you're gonna take vacations

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on the East Coast, you're going
to see some up downturn and traveling because

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the price of ball and that's to
the lack of lack of having supplies.

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The supply is going to go down. I think around a million to a

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half to two million barrels a day
uh sometime by the end of mayor or

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Earty June. Really so yeah,
I could easily could see a twenty five

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percent to snap of in oil prices
if I would think you could get up

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around eighty five to ninety. And
I also think that as an advisor,

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I'm a retirement advisor and financial advisor. That's going to mean there's going to

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be some opportunities out there in investments
and and UH production companies that are producing

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the oil of the gas because they're
they're going to be working harder to keep

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up. And I think there's going
to be some opportunities for investments there.

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But right now we're looking at working
with our consumers and it's it's so day

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to day situation. So let's talk
a little bit about nad gas. It's

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down in the lot right now.
I think we said two twenty three and

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per mcl. Yeah, So what's
going on there? And why is it

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just the result of a warm winter
globally? Oh? I think they had

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a lot to do with it,
and we didn't have a big winner this

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year. And I think the price
there is going to be and the price

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on it on natural gas is going
to also increase a little bit. And

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they're the reason that is, more
and more people are converting uh their situations

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to natural gas. It's a it's
a clean energy. It doesn't provide as

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you as we mentioned off the air
only if it doesn't provide the power perhaps

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running your vehicles, but it's certainly
good for your own situations like that,

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and we're seeing a lot of people
converting to natural gas. We don't have

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the winters that you that some people
have up in the Northeast when you're in

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Florida, I'm in Texas. We
don't have those kind of winters. They've

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been in the oil but they're converting
to natural gas. So we're going to

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see a lot and more people using
that. It's a clean energy, as

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I said, it's one that doesn't
have a carbon footprint like gasoline does.

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So you're going to see more and
more of that, which means that there's

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a larger demand. Obviously, the
price is going to go up a little

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bit, but it's still a very
realistically inexpensive method of getting energy. So

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I'm I'm a big fan of natural
gas all right, and overseas, it

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also depends upon europe winter because right
with the Russian embargo and all that,

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we are shipping tons of you know, many many ships of liquefied LNG gas

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and and then that turned out they
didn't need as much of it, and

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that really had an impact because hey, we're the ten bucks mcf, you

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know it did. It had an
impact, which comes where we had too

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much of it, and when you
have too much, the price goes down.

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That's just the way it is to
its supplied demand. But we are

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still seeing a lot of ships going
out at Houston Port right now was liquefied

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natural gas and for Europe, and
that's one of the major markets for the

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gas land and the oil companies here
in West Texas. We our oil out

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of the ground and pipeline it to
Houston would is refined into two gasoline or

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natural gas and then it shipped out. We're still seeing that we're not getting

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as much out because there's so many
regulations now on what we're only shipping of

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liquefied petroleum gas. So that's that's
been down during the Trump years. That

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it was an unbelievable opportunity there and
it was going quite well, but the

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regulations now they've been placed on it
has caused a reduction in the amount that

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can be sent. So it's just
another good reason to find someone that will

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open up their eyes and see what
the value is so we can get back

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to being oil independent, dependent independent
again instead of dependent upon foreign countries.

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So let's hope that happens. Since
in the foreseal future you and I can

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talk about that and have a lot
of fun with that down the road.

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Yeah. Well, one thing I
did want to talk to you about is

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the age of fracking is coming to
an end and these wells that we're producing

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a thousand barrels a day or at
several hundred are going to be stripper wells

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soon. What's going to replace it
well? And in fact, that's where

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the access drilling is coming in.
A lot of the companies are after drilling

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for new wells and try it because
we're going to see fracking. I think

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it'll come to if not come to
an end, it's going to come to

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a tremendous down and fracking. Over
the next couple of years. They're producing

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00:14:03,279 --> 00:14:07,159
new methods for extracting oil. Every
day, somebody's coming up with new ideas,

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00:14:09,039 --> 00:14:13,960
and the fracking thing has had such
bad publicity. Although most people don't

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00:14:13,039 --> 00:14:18,600
understand how fracking works. It's not
a big explosion down that it blows up

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the land. It's a very small
explosion that opens up the cracks and in

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00:14:20,799 --> 00:14:24,279
the rocks of the oil can flow. It's not a big deal. But

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at the same time, it's coming
to an end, and they're floodingsfing back

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with different types of chemical flooding situations. So I think we're going to see

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more of that, by the fact, I know we are. We're seeing

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00:14:39,480 --> 00:14:43,879
companies now that are gearing down their
fracking operations and gearing back up for the

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00:14:43,919 --> 00:14:50,320
flooding operations situations to extract from the
ground. So I think you're right.

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00:14:50,440 --> 00:14:54,000
And the next couple of years we
probably won't be talking about fracking. We'll

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be talking about other methods of extraction, but fracking will still be a major

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factor in that gas production. Oh
absolutely absolutely. I don't think we're going

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to see that curved curtailed for the
foreseeable future. I don't see that happy

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at all. Yeah, all right, Well, d how was it again?

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Where we find your work? How
we connect with you on the web?

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Yeah? In fact, we're at
Carter Financial dot com and you can

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go there and see who we are
and what we do with our retirement planning,

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and there's always some interesting articles.
You can go to uh sound income

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source and dot com and check us
out there and see what we've got going

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with the organization that I'm with there, and it's it's worthwhile to go and

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read some of those articles that are
added to that page on a daily basis,

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So I recommend people go there and
take a look. All right,

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and go over to our site Financial
Survival Network dot com. You'll find a

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link to D's site in the show
notes. Click it, you'll get right

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to a site and while you're there, sign up for a free newsletter.

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In the meantime, if you got
any questions for myself or D financial planning,

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financial prognostication, whatever they might be, just shooing us an email KL

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at carry lets dot com. We'll
get you an answer quick. D always

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a pleasure. Thanks for stopping by. Hey, it was follow me.

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We'll look forward to talking to you
again sometime in the near future. Thanks

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for listening to carry Lets's Financial survival
Network, your solution to today's trying times.

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For the latest, go to Financial
Survival Network dot com. Financial Survival

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Network now more than ever