CNBC inspired today’s ENB Stand Up - I Did Not Have That On Michael’s Bingo Card.

The interview on CNBC inspired today’s ENB Stand Up, and here is the full interview with Peter Boockvar, CIO of One Point BFG Wealth Partners, who was interviewed on ‘Fast Money’ to discuss why he is bullish on energy heading into 2026. I found this story very interesting as Peter goes through the key bullet points. Their interview was on CNBC.

Peter Boockvar also said: “Now with OPEC, we’ve seen more than two million barrels a day of production increases and quota increases, but the production increases haven’t really met up fully with the quotas, which tells me that there’s less available excess production supply, and it’s really only coming out of Saudi Arabia and the UAE.”

Finally, Peter Boockvar commented, “I think sixty dollars a barrel is pricing in almost no geopolitical risks. And I think the market just almost in a way assumes that there’s going to be a deal.”

Chapter Times:

00:00 Intro

00:30 Peter Boockvar on the CNBC Interview, oil is next year's gold

04:48 California Pipeline Shut Down, A crisis in the making

10:12 Will the oil Shadow Fleet End?

ENB Stand Up Stories Covered on The Show

Oil could be next year’s gold, says investor Peter Boockvar

New Report Warns Consequences of an Oil Pipeline Shutdown Would ‘Cascade Across the State’

California’s Oil Rush Slips into Final Act, and May Take Alaska’s Oil Rebound Down with It

The Shadow Fleet End? – Giacomo Prandelli

Africa is Embracing Oil and Gas for New Development, and Will Benefit Africans, Investors, and the Market

US Oil Rig Count Stages A Comeback After Last Week’s Losses

Check out Reese Energy Consulting at https://reeseenergyconsulting.com/

The full article at The Energy News Beat Substack: https://theenergynewsbeat.substack.com/p/could-oil-be-next-years-gold-investment

Got questions if you need a tax deduction? https://energynewsbeat.co/invest/

Katy Grimes, Editor in Chief of the California Globe, and Mike Umbro stop by the ENB Podcast.

This podcast rolled around because Katy Grimes, the Editor in Chief of the California Globe, wrote a brilliant story, “Has California’s Oil and Gas Industry Hit the Point of No Return?” and in that story, she is pointing out that the National Security Risk created by Gavin Newsom’s energy policies may have pushed the oil and gas business to the brink of collapse.

On the podcast, we discussed that the main pipeline may shut down in weeks, meaning oil drilled in California will have to be trucked to refineries rather than put into the pipeline. Yes, you read that correctly. Shut down in weeks. We also ask, how many of those truck drivers are illegal migrants who can’t read, and we need thousands of trucks that don’t exist.

The other huge issue is the sheer number of tankers that will be piling up off the coast, which is a real problem. There is a good chance that some are no longer part of the Dark Fleet and may not be seaworthy or insured.

Key Chapter Time Stamps

02:17 California’s Oil Crisis is now a Security Risk

04:50 California Imports 70% of the oil it requires

07:09 Permitting and Regulatory issues for E&P operators

10:06 Crimson Midstream Pipeline, The San Pablo pipeline potential shutdown mid-December

12:21 The largest oil spills were from Tankers, and we are going to see more tankers on the water, driving potential accidents up.

13:51 Shout out to Gene Nelson, PhD., whom I just interviewed, and we talked about that interview that is now in production.

16:06 Nuclear plants had been shut down to make way for wind and solar installations.

18:52: The oil industry is over

22:05 How to fix the broken system

23:55 Alaska imports jet fuel, diesel, and gasoline, causing significant environmental damage.

41:18 Mike Umbro, Energy Environmentalist: Well, that's about hugs and Chris Wright. I told you I don’t need a hug, I need a permit.

Katy’s comment that Governor Newsom can’t be this incompetent and that it has to be deliberate really resonated with me while writing this summary.

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Michael Tanner and Stu Turley cover several significant developments in the energy industry. First, they discuss New York's new "Cap and Invest" program, which will ration and tax fossil fuels. We do not see this as being ineffective and costly for consumers. This will do nothing but drive more people out of New York and reduce taxable income as money leaves the state. There is a reason JP Morgan has moved its gold trading unit out of New York.

Next, we examine the increasing isolation of Venezuela as its allies Russia and China step back amid heightened U.S. pressure. This has implications for Venezuela's significant oil reserves.

We then cover ExxonMobil's interest in acquiring a Russian firm's stake in an Iraqi oil field, as U.S. sanctions impact the global energy landscape.

The discussion shifts to the automotive industry, noting a pivot away from aggressive EV adoption towards more profitable hybrid vehicles in the U.S.

Analyst Josh Young's insights on OPEC's production increases and the implications for spare capacity and oil market dynamics are also covered.

Finally, we lament the collapse of California's oil and gas industry due to stringent policies and permitting challenges, and we criticize the state's governor.

Stu will be interviewing Mike Umbro, and Katy Grimes, Editor in Chief of the California Globe, are live on LinkedIn, X, and YouTube to talk about the California story. "Has California’s Oil and Gas Industry Hit the Point of No Return? – California Globe"

Here is the live link: https://www.youtube.com/live/9iQIhfX0ydM?si=82sbS7hGXOPeYNYV

Stories we covered today:

1.New York’s climate law will ration fossil fuels and tax the rations – David Wojick on CFACT

2.Venezuela is Suddenly Alone: Allies Step Back Amid Escalating U.S. Pressure

3.ExxonMobil Looks Over Lukoil’s Iraqi Oilfield as U.S. Sanctions Finally Hit Home – What does this mean for Investors?

4.The Shift to Hybrid Cars is Moving in the US

5.OPEC+ Production Increases and Spare Capacity Audit – Oil Market Implications

6.Has California’s Oil and Gas Industry Hit the Point of No Return? – California Globe

Shout out to our sponsor, Reese Energy Consulting. Check them out here: https://reeseenergyconsulting.com/

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