Good morning; here's what the Oilman has for you today:

• French CEO Opines on U.S. Politics

• Geologist’s Truth Bomb

• Upcoming Gas and Oil Events

• Tweet of the Day

French CEO Opines on U.S. Politics

If the United States stops exporting oil, this will deliver a massive blow to the world’s energy system.

The doom and gloom come from the chief executive of TotalEnergies.

It’s not just a random remark. It’s what Patrick Pouyanne fears might happen if the winner of next year’s election is Republican.

A really scary scenario

Yeah, so scary: those evil American Republicans.

Way more scarier than, y’know, the French CEO’s very own Paris being overrun by riots and being burned, right?

"The only thing that could happen, which is a major systemic risk, is that the Republicans decide to stop exporting ... In fact, I am not even sure it would be gas; it could be oil one day."

That’s what Pouyanne said at a recent event. And he didn’t stop there.

"Americans base all their policies on the domestic price of gas or oil, they have resources, and if they feel that exports are driving their prices up, they block us.”

Well, I’d call that sound policy-making, wouldn’t you?

“Now, I can tell you that if, in addition to the Russians, we lose American gas and oil, it is not a shock; it is a super shock," the CEO also said.

He did admit that, in the end, it’s private companies that make the decisions, though, so the apocalypse has been postponed.

Or has it?

For now, it’s an idle threat, but who knows

Funnily enough, while Pouyanne refers to Republicans as the party that could stop U.S. oil—and gas—exports, Democrats have tried to do that, too.

The only difference between the threats so far has been the motivation:

• Republicans wanted to halt exports to ensure prices stay low for Americans.

• Democrats wanted to ban them to reduce emissions.

So far, all these attempts have died early on in Congress.

But that doesn’t mean politicians from both parties will stop trying.

Should be fun to watch.

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Geologist’s Truth Bomb

The rush to net zero will only make the world more dependent on China, Australian geologist and academic Professor Ian Plimer has warned.

This is the latest warning from Plimer, who many dismiss as a climate denialist.

Of course.

But it’s hard to argue with what he had to say.

The renewables market is very, very badly balanced

Here’s what Professor Plimer said:

“We've speared the countryside with wind turbines and covered all this prime agricultural land with solar panels.”

“Here's the problem: The solar panels, and the turbine blades, are made in China.”

Can’t argue with facts, right?

Then Plimer went and turned the knife in the wound:

“Once we decarbonise, and get rid of our gas and coal generation, then we're at the mercy of China."

How about that for the price of a net-zero future?

The signs are already there

China dominates most if not all supply chains vital for the transition.

And it is not afraid to use this dominance to send a message.

Like earlier in July, Beijing announced restrictions on the export of two rare earth minerals.

Now, those came in response to the U.S. restricting Chinese access to chip tech.

But a few years ago China restricted rare earth exports to Japan over a territorial dispute.

I mean, once may be a coincidence, sort of, but twice is definitely something resembling the beginning of a pattern.

Do we really want more of that?

Upcoming Oil & Gas Events

• July 19-20: 2023 Independent Petroleum Association of New Mexico Annual Meeting

• July 20: Bakken Classic Fishing Derby

• July 28: SOOGA Annual Industry Boat Ride, Valley Gem, Marietta, OH

Around the Global Patch

🇮🇷 Iran and Iraq forge Oil-for-Gas deal amidst U.S. Sanctions.
🇸🇦 Saudi output cuts boost prices in global oil market segment.
🇷🇺 Russia explores space collaborations with Egypt and Algeria.

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