Highlights of the podcast:
04:31 – The significance of UAE ditching the petrodollar and its implications in global trade.
05:56 – Concerns about the Biden administration’s foreign policy and its impact on relationships in the Middle East.
08:03 – Speculation about potential candidates and dynamics in the upcoming 2024 election.
19:48 – Consideration of third-party candidates like RFK Jr and their policies on energy and other issues.
22:25 – Anticipation of upcoming events like the COP 28 conference and future podcast episodes and interviews.
With 3 unique personalities, backgrounds, and one horrible team sense of humor, it makes for fun talks around the energy markets.
David Blackmon is a Forbes author and currently writes Energy Absurdities of the Day. He has several active podcasts with ….. His industry leadership is evident, but a dry, calm way of expressing himself adds a different twist.
R.T. Trevillon is the podcast host of The Crude Truth filmed in Fort Worth Texas and runs an oil and gas E&P company. Pecos Country Operating has been in business for ….years and has a constant commitment to all of their stakeholders and is actively working in this oil and gas market.
Stu Turley is the co-podcast host of the Energy News Beat Podcast. While Stu is a legend in his own mind, Theenergynewsbeat@substack.com
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3 Podcasters Walk in a Bar Episode 39 – Global Financial Ripples: UAE’s Petrodollar Exit Explored and MORE!!..
Stuart Turley [00:00:14] Hello, everybody. You read an uncle? Kind of like Eddie had a Christmas vacation, and all of a sudden, he starts at a joke at Christmas, and you hear this three guys walk into a bar. Well, I happen to know those other two guys. Three podcasters walk into a bar. Welcome. We are here with the David Blackmon. I mean, he is a legend around the energy world. And I am so honored to know him. He is on The Daily Caller. He’s on a Telegraph. He’s in Forbes. He’s on the energy question, which is going phenomenal. And then he’s also on the energy transition, which is in Brazil, the UK, Pakistan sometimes, and we’ve even got a few others. Hey, welcome, David.
David Blackmon [00:01:01] Hey, man. Happy to be here. Before we get going, I want to show everybody my t shirt, which is in honor of my favorite conspiracy theorist, Stu Turley, keeping score on who’s been right. The experts are the conspiracy theorists. And I’m thinking.
Rey Treviño [00:01:19] Give a screenshot of that and we need to post that on LinkedIn and Twitter.
Stuart Turley [00:01:23] Oh, we guys, I’m going to have our production team get us a t shirt with the three podcasters in that t shirt. I’m sorry, David, you just want to share the week and we’re just.
Rey Treviño [00:01:36] Never you got to be cool to put our logo on the shirt. And then they write back of it. Just the t shirt, nothing much or.
Stuart Turley [00:01:43] Oh no. And we’re, we’re, we’re flat going to just absolutely have a drawing for anybody that gives us likes and subscribes. We’re sending out T T-shirts maybe we’re sending that day. I mean, David that was huge. And then we have coming around the corner, he’s a big dog over there. Pecos Operating and he has that crude truth. And I mean that crude truth is a wild showcase of just everything. Dear friend and a wonderful guy. He’s still in school. I think it’s high school. Welcome RT
Rey Treviño [00:02:23] Welcome to a good. You caught me off guard there. Thank you. You know, you give all these accolades, accolades that are definitely due to David. We talk about his t shirt now. I don’t know where am I or what day it is. Yes. Hello, everybody. Thank you for tuning in to another episode of Three podcasters Walk into a bar if you can’t tell if you’re a first time listener. Thanks for sticking around this long. Stick around for the whole episode. We are three, but I like to think energy and people that have knowledge in the oil and gas or the energy space, and we like to cut loose a little bit on this episode and are on three podcasters because as you mentioned, I have a great show called The Crude Truth, where I do primarily focus on oil and gas and energy, but also I bring in people from all different types of entrepreneurs, from life coaches to insurance to even Americans for Prosperity and True Texans. And and I even bring on candidates. So yeah, so it’s a great show just trying to ride Giles coattails, if that’s all right with my little show but but that’s my moonlighting gig and during the day I like to drill oil wells with a Pecos country operating. So thank you, Stu, again for having me on and have made me have to introduce myself.
Stuart Turley [00:03:46] This is the Join Ugly baby with you guys, so I’m not having you on Anyway, here did so you know, it’s kind of like the ugly baby that gets left on a doorstep. That’s what the three podcasters is, you know, a rock on. David, I love your articles. I steal them all the time. And your article on your substack energy transition absurdities this morning is phenomenal. The UAE is ditching the petrodollar. And I loved your article. You want to tee that off?
David Blackmon [00:04:19] Yeah. You know, I mean, that’s a big deal. I think UAE is one of the big oil countries in the Middle East. It’s it doesn’t produce quite as much as a Iran, I think, but it probably is the third largest behind Iran and Saudi Arabia. And for them to be now announcing that they’re going to make all trades and have local currencies rather than the US dollar, which has been the the currency of market in international trades for over 100 years is a big shift. It’s driven, I think, and we’ve written it, we’ve talked about it a lot here and I’ve written a lot about it too, throughout 2023. I think it’s driven by UAE is new membership in the BRICs alliance. The BRICs has ambitions to become the preeminent international oil consortium globally and to displace the G7 in that status. And they added six new countries, including the UAE and Saudi Arabia in August to their membership. And I think BRICs versus G7 politics are playing a big role in this. So it’s it’s I think it’s very significant, too, that the UAE makes this announcement the week it is hosting the Cop 28 conference in Dubai. And so this is, you know, just another sign of the failure of the Biden administration’s foreign policy and its fading influence in the Middle East in general, which is a a real tragedy for the United States.
Rey Treviño [00:06:09] You know, you guys, I think I’ve had the pleasure now to get to know you all for for several years now. And this has been something you both have been talking about since I met. All that was whether it was we’re going to go to the U.N. or where we going to go to the ruble, because I think that’s what Russia uses. But you all have continued to mention that, hey, at some point with this administration, we’re going to lose our status at trading oil with the United States currency. And that, again, is huge. Like David, your your article today wrote in this really, I want to kind of just say on how quickly, David you move, you understand and why people definitely need to be, you know, or really why more people need to follow you because you’ve got you know, you’ve got great people that
David Blackmon [00:07:00] Come on People. Get in line here
Rey Treviño [00:07:02] And they need to subscribe to your substack. But no, this is literally it is less than 24 hours old of this news and you’ve already got a great grasp on it. You’ve already been talking to people and even understanding more. So, David, I want to just say kudos to you and everything that you do to stay on. And I know you’re not a journalist or news reporter. I know you’re not. And you tell me that all the time, but God dang, you can Don’t call me that, but then you can do some great reporting. David So this, this is this is a perk. Perks me up a little bit here because with BRICs 90 are choosing not BRICs, but. The UAE not even being the main player in BRICs or in the Middle East. And they’re the first ones to do this. I mean, we could really sit here and say that the domino, the first domino has dropped. And, you know, I don’t think it’s outrageous to say we could see more dominos drop within the next 12 months before their election in 2024.
Stuart Turley [00:08:05] What do you say, David? I’m going to throw this ugly squirrel in here. And there’s a couple of things. India and Russia has been trading in their currency and they were they’ve been doing it. The EU is trying to shut down some more sanctions. And we know, as Irina Slob says, you know, sanctions don’t work as intended. Those sanctions we’re trying to tell Russia, don’t sell over $60. And they go, hmm. But you know, my lousy Putin imitation, hey, I could care less. So I still don’t know if that’s Fonzie or Fozzie Bear or Fozzie. Who knows? It ain’t Putin. But it’s funny. And so then when you take a look at the U.S. dollar, David and RT, I’m I’m can you know, you take a look at who’s buying the U.S. debt is using the Petro dollar and everything else. And as they move away from the dollar you nailed it, David, with the BRICs and everything else so that I think the demise of the U.S. dollar is even though that you’re saying the petrodollar. I think this is going to spill over. What are your Thoughts?
David Blackmon [00:09:23] Well, yeah. I mean, I think that, you know, we call it the petrodollar mainly because oil is the most traded commodity globally and has been for a long time. But but really, the the United States dollar has been the prevailing currency of mark in all international trades for all commodities and goods for a century now. And to see it start to fade like this, I mean, this is not some little border country. This is this is a very significant all power. And for them to take that step is a very significant thing. And, you know, it’s it’s really kind of surprising because the U.S. relationship with the United States supposedly has been fairly healthy. And so I just you know, I saw that headline this morning and it really caught me off guard. And I just I think it’s a real shock to the system. And I think know it’ll make more news as the week goes on.
Stuart Turley [00:10:28] RT, ahm, Hamas in Hamas headquarters in the UAE or I know that’s on that’s in Qatar. Qatar. Thank you. Yeah. Qatar, UAE, you know.
David Blackmon [00:10:41] Well, they’re next door
Stuart Turley [00:10:47] To each other, right? Sorry.
David Blackmon [00:10:49] Anyway, so I think it’s a big deal. RT What do you think?
Rey Treviño [00:10:53] No. Again, that’s I do. And I think that we’re going to see more damage. I mean, I’m going to say it in your correct me if I’m wrong, we’re going to see more dominos fall before the election of 2024.
David Blackmon [00:11:06] Well, I think we could. I mean, I you know, the United States relationship with Saudi Arabia is so fragile right now and really has been severely damaged by this administration. You know, when you look back just four years ago where Donald Trump, for whatever else you think about him, and it really strengthened that relationship both with Saudi Arabia and Israel and the Middle East and and the damage that’s been done by this administration to the Saudi relationship is just incalculable. And it wouldn’t surprise me a bit if Saudi Arabia, you know, started making noises about making a similar move. Now, I know our friend and also al-Hashemi would disagree with that. He thinks that all of this is overblown. And and I’ll be interested to see his commentary about it here in the next few days.
Stuart Turley [00:12:01] Yeah.
Rey Treviño [00:12:03] Oh, go ahead.
Stuart Turley [00:12:04] Go ahead, sir.
Rey Treviño [00:12:05] Well, I mean, where was I going with that? It it just really should, like, start to worry us all. And you talked about, you know, love him or hate him, and I guess I’ll get off of oil here for a second. The media did no justice. When when when Donald Trump went to Saudi Arabia, went here as 50% of America now thinks that he was the problem with the Middle East. And yet the Abraham Accords, who all of a sudden the Biden administration is now somehow taking credit for, which they that happens in every administration. I will say that. Right. Just like they’re still blaming Covid on on Donald Trump, you know, about the economy. But you’re absolutely right. There were so many great things that were done. And, you know, my worry is if he is to get into office for just another four years, you know, is there really enough time to restrengthen all these true relationships that we America, not Donald Trump, that America had that for whatever reason, the the of President Obama’s administration and President Biden, his administration are pushing away the fact that this administration will not just straight up condone what Hamas is doing the way that they are not working with the Middle East. There’s a lot going on here, guys. And, you know, it just raises a bunch of random questions. But they are not being pro-America and that just bothers me like no other.
David Blackmon [00:13:39] Well, you know, I think the real issue here is for for many decades, the United States, even though you would frequently change presidencies between the two parties, we had a very clear and and consistent continuity in our posture, in our relations with all these governments in the Middle East, most importantly, Saudi Arabia and Israel. And, you know, this is what has kind of been damaged to to a great extent in this presidency, is that we no longer have had that continuity of a consistent posture with Saudi Arabia. And, you know, once you damage that and once that goes away, it’s going to be very difficult to restore it. It’ll have to be restored over several subsequent presidencies. So I just think it’s a very underrated problem for our country.
Stuart Turley [00:14:44] Yeah. For Podcasters listeners. RT’s evidently run out of power in Texas. So, you know, I’m here in West Texas and I got generators and I could survive without the. Go ahead. But, you know, when you sit back, David, and we take a look at that, I truly believe that if Trump loving Haiti, he does some silly things. But if he does get back in, I think that RT point is fabulous. Don’t tell him I’m compliment and him. But it is it is an excellent point. And I think it’s going to be his success or his vice presidency is going to be just as critical as if whoever wins the Republican nomination. And I want to go on record as saying that I believe there’s just as many corrupt Republicans as corrupt Democrats out there. I am not a politician fan and I am a anybody that’s an outsider. I’m in. You know, let’s vote them all out of office as far as I’m concerned.
David Blackmon [00:16:03] Yeah, no, I think that’s a really strong point because if if Trump were reelected or elected to a second term, he would immediately be a lame duck president because he wouldn’t be eligible to stand for reelection in 2028. So who picks as his vice president is going to be crucial as a signal not just to voters in the United States, but governance, governments of other countries, that there is at least a prospect for continuity of government beyond these four years. And that means that he can’t just go off and pick anyone to be his running mate. He can’t, you know, do another Mike Pence kind of thing.
Stuart Turley [00:16:44] No,.
[00:16:46] You know, I think he has to be really careful about picking someone like Kari Lake who, you know, I don’t have a problem with Kari Lake, but she’s not I don’t think would not be seen as a potential electable successor to to President Trump. Now.
Stuart Turley [00:17:05] Tucker Carlson.
David Blackmon [00:17:07] Carlson You know, you know, I think you get a variety of opinions on that. I enjoy Tucker Carlson is as a talk show host, a new show host and a commentator. I think he’s he has a lot of views. I agree with some. I don’t. And but would he be seen as by the governments in China and Saudi Arabia and other countries as a likely electable successor to Donald Trump? You know, that’s an open question.
Stuart Turley [00:17:41] Oh, yeah. But I like your answer, David. I truly do, because I love Tucker. I think Tucker is a hoot. Now, like you said, is ill in electable? I will say this. All his interactions with world leaders right now has been phenomenal. Yeah, the dude is out pressing the flesh with world leaders. I’ll give you that.
David Blackmon [00:18:04] You know, the interview he did with the new incoming president in Argentina recently was tremendous. He interviewed the leader in Hungary. It was Hungary a few weeks ago. And that was just tremendous, the information he got out of that interview. And I think he does have credibility with a lot of these people.
Stuart Turley [00:18:28] Oh, yeah.
David Blackmon [00:18:30] You know, I just frankly, he gave a speech in Las Vegas weekend before last that I thought was so significant and powerful that I posted it on on my substack, my pilot, my political substack and with along with a transcript that I compiled of it because I just think it was a really brilliant speech. But, you know, he is not someone who’s ever won an election. And even though he’s been around a long time in the media, it’s it’s a different thing. So I. You know, I, I wouldn’t have a problem with with Tucker Carlson necessarily as as the Republican Party’s running mate. But I know a lot of people would.
Stuart Turley [00:19:17] We got about five more minutes, David, But I’ll tell you. What do you think about JFK and the third party folks running? Do you? I like.
David Blackmon [00:19:30] Yeah, I’m not sure.
Stuart Turley [00:19:31] Excuse me. Yeah, well, he is. He is dead, and he could vote Democratic. Just kidding. No, I’m not. What do you think about third party candidates?
David Blackmon [00:19:44] Well, you know, there’s going to be several, obviously. I mean, RFK Jr is one of them. He’s going to be, I guess, run as an independent. It doesn’t appear he’s going to be the Libertarian candidate or the Green Party candidate. And then you’ve got Joe Manchin out there running around the country with Mitt Romney thinking they may run as a as a kind of middle of the road ticket. And losers. Losers.
Stuart Turley [00:20:14] Excuse me.
David Blackmon [00:20:15] Well, I think some of RFK Jr, I think is right about some things. He’s I think he’s very much right about the true nature of Anthony Fauci and the disastrous response to Covid by our federal government under two and if.
Stuart Turley [00:20:31] CIA in the FBI.
David Blackmon [00:20:33] CIA and you know I mean he’s right about a lot of things. But at his base, RFK Jr is no different than Joe Biden in terms of being a left wing Democrat. And so while there’s a handful of things I think he’s very much right about, I think he’s wrong about a lot more. And I would never vote for him.
Stuart Turley [00:20:57] Oh, he. Did you hear what he said about fracking?
David Blackmon [00:21:01] Yeah. He wants to ban it.
Stuart Turley [00:21:03] Yeah. Online.
David Blackmon [00:21:06] He’s. He’s been an advocate for banning hydraulic fracturing for 15 years. I mean, he’s been one of the leading voices.
Stuart Turley [00:21:13] I heard that. You know, I was over here going. Yeah, I think he might be a good fit. And I heard that. And I’m like, You’re out.
David Blackmon [00:21:21] To me. Yeah, I so I just think he’s a is a nonstarter from an energy standpoint is his policies would be every bit as disastrous as what Biden is doing right now. And so I just I don’t see him as anyone I could support. I think he’ll still a lot of votes. From from Joe Biden. But I think he’ll also take a lot of votes away from Donald Trump, from Trump supporters who don’t do a deep dig into what he’s really about. And so I think it’s just kind of a zero sum game as far as influencing the outcome of the election.
Stuart Turley [00:21:59] Well, cool. Well, David was coming around. Hey, Nape. I cannot be more excited about Nape. We’ve talked about that. It’s going to be a hoot. Yeah. I can’t wait to get down there with you. And you’re going to have a live podcast booth and everything else. What’s coming? What else do you think? See, coming around the corner from a news perspective?
David Blackmon [00:22:23] Well, I’m going to be writing a lot about the Cop 28 conference over the next couple of weeks. You know, I have no doubt there’s going to be a flood of idiotic stuff coming out of that conference and very significant stuff as well that will impact everyone mostly negatively. And so I’ll be focusing on that a lot. But we have, you know, some some really good interviews coming up as well. On the energy question, I’ll be doing another monthly episode with Tim Stewart here soon. And we have a lot of other folks lined up.
Stuart Turley [00:22:58] That sounds fabulous. I’ll tell you, I’ve got a lot of good, good ones, too, that I got to get over to you and turned on. And we had CIA operatives and everything else coming. So your conspiracy theory. Oh, man, it is huge. And you need me interviewing George McClellan, and they’re about to release it as well as Mark Masters. You need to interview both masters.
David Blackmon [00:23:25] Yeah, I’m fully aware of Mark Masters. Would love to have, you know, maybe we need to start a new Conspiracy Theory podcast and just just do nothing but that.
Stuart Turley [00:23:36] On a different. I think we should we owe it to ourselves now that, you know, you and I are getting shut down by Google and we’re still getting our word out there. So anyway. Well, thank you so much. And it sure was fun having RT drop off. That was sure consider it.
David Blackmon [00:23:53] Yeah, that was excellent. That was a great feature of this episode.
Stuart Turley [00:23:56] Oh, absolutely. Well, thank you all very much for stopping by. The three podcasters walk in a bar for R.T. The Crude truth, David Blackman The energy question and the energy Transition. And me. I’m Stu Turley with the Energy News Beat. We’ll see you guys next time. Thanks
David Blackmon [00:24:16] Adios
Energy News Beat