Elizabeth Trovall

Right.

So there was oversupply in the industry.

There was more oil than people needed.

coming into this year prices were low you know wasn't looking so hot for oil and gas companies and then everything's kind of turned on its head and so that over like thankfully we had we had a bit of an oversupply because that's helping cushion the the kind of price shock right we're feeling right now um and you know the industry yes is uh more revenue coming in because of those higher higher prices of course

Yes, definitely.

There's been a shift.

I mean, I think last year the conversation was really about how the industry is adjusting to the new Trump administration and the new policies.

There was a lot of conversation about tariffs and trade and also kind of moving away from the energy transition economy, if you will.

So I feel like that was more...

at the center and whereas now I mean geopolitics are you know what everyone is thinking and talking about we're going to take a quick break but we'll be right back

Well, I mean, I think you need to also these are global oil companies.

So while the you know, while they're making more money off of the barrel of oil, like a lot of these companies have assets in, you know, the Middle East that are affected, like they're evacuating personnel and things like that.

So and right, like no one is like dancing about war anymore.

Um, but I think, I mean, I think that's part of the why it is a bit, there's like restraint, um, for multiple reasons and how these companies are talking about things, because obviously nobody wants to come off as being insensitive, um, and, and people, but, but this industry, like everyone,

I guess it's just important to remember the context here, just like what the last six years have looked like.

COVID-19, we had oil prices tanking to $10 to $30 a barrel, depending on your benchmark.

Russia war sent oil prices past $130 a barrel.

You know, and then now we're in, you know, things settle down and then things spike again.

So like all of these, like these industry folks, they're thinking about long term investments and what things look like over time versus like responding, you know, in the heat of the moment.

Yeah.