Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
Right.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
And those guys, those guys have massive, massive balance sheet integrated operations.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
And, yeah, I mean, you just, you know, it's just a little bit kind of different.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
There's still a cowboy element to it for sure.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
But, yeah, I mean, I think in order to attract capital, the industry has had to show discipline.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
And I think we've done a pretty good job of doing that over the last two years.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
I mean, the, you know, kind of the days of.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
a million barrel a day growth year over year are largely gone.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
And some of that is due to geologic constraints.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
Although, you know, I will reiterate kind of never, never to underestimate the ingenuity of the American oil man.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
But I think another part of that is obviously due to capital.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
And, you know, you've had two to three crashes really in the last 10 years.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
And so, you know, investors, investors really are kind of holding everybody's feet to the fire on that.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
And then I'll say is kind of as it pertains to my business, you know, as I said, there are a lot more of my businesses than there are of large shale companies.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
I mean, this is the business of operating older oil and gas assets.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
Right.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
And like any business, when things are older, they break more.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
And so, yeah, no, it's difficult and it's challenging.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
Right.
Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom
Because you have a lot of volatility here.