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THE CRUDE TRUTH Ep. 60 Anne Bradbury CEO American Exploration and Production Council

Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

Rey Treviño [00:00:00] When you’re at Nape this February 2020, for February 7th through the ninth, you’re going to hear people like Anne Bradbury. We talked to her on this episode of The Crude Truth.

Rey Treviño [00:00:54] Nape is a proud sponsor of the Crude Truth. Be sure to register for the Nape Expo 2020 for February 7th through the ninth at the George R Brown Convention Center in Houston, Texas. Hurry and register today. Nape where deals happen.

Rey Treviño [00:01:43] Well good morning. Good afternoon. Good evening. Whatever time of day it is. Thank you, as always, for tuning in for another episode of The Crude Truth. Well, as you all know, I am a proud. I am proud to say that Nape is a sponsor of the country and that we will have a studio, uh, recording studio at me this year, as you’ve all heard, I’m sure. And one thing that we’re very excited about are all the great speakers that are lined up to be speaking this year at, and two of the headliners are going to be the number one headliner. It’s going to be Anne Bradbury. And then the second one is going to be Governor Greg Abbott of, um, of Texas, of course. But um, but the one that I have on today, uh, is Anne Bradbury, she was the president and CEO of the American Exploration and Production Council. She leads all aspects of federal public policy efforts, advocating for the regulation and policies that help enable the United States producers like Pecos Country Operating to continue building the world in energy development that meets the highest environmental and safety standards. And welcome to the Crude Truth.

Anne Bradbury [00:02:51] Thanks Rey great to be here.

Rey Treviño [00:02:53] Oh my gosh, it’s such an honor. Like, I was, uh, briefly telling you, uh, before we jumped on this episode of record, um, you know, I had to ask Chancellor’s last year at the Texas Alliance Video Producer Summit in Fort Worth and who have come on board, I think technically not too long ago, uh, 2019, but you have been blazing a trail for the oil and gas industry, right? To where it almost seems like you’ve been there for a lot longer than that. And, uh, you know, uh, tell the listeners a little bit about you that have not heard.

Anne Bradbury [00:03:27] Sure. Yeah. So, uh, Rey, as you point out, I actually started, uh, at HSBC just over four years ago. Um, and the organization has been building, uh, slowly but steadily since then. Um, and we’re really proud of what we built. So our focus is federal advocacy. Uh, we, uh, we advocate on behalf of the leading independent producers here in Washington, um, uh, on all matters of regulatory policy, um, and legislation that impacts federal production. So, uh, we work with members of Congress, we work with the EPA, uh, we work with Doi to try to steer federal policies to be supportive, or at least not detrimental to American energy producers. Um, so we’ve been at this mission for a little over four years now. Um, and, uh, you know, have, uh, you know, just in these short four years have seen a lot of ups and downs. Uh, but it’s it’s a lot it’s it’s been a lot of fun, and it’s a great industry. And I’m so proud to represent them in Washington.

Rey Treviño [00:04:31] It’s 2019. I mean, it has been. I, I think you came in at the right time. You know, I think God put you in there because God knows it has not been easy, especially with this new administration wanted to continue to shut down oil every day. Uh, and of course, natural gas. I mean, there are at Cop 28 that time. We’re recording right now and, uh, you know, uh, cop 28 is going on right now. And that’s one of the big questions over there. Uh, what are your thoughts on that real quick?

Anne Bradbury [00:05:00] Yeah. Um, so, you know, cop 28 is happening right now. This one is fairly interesting because it’s been dubbed the oil and gas Cop because it is being hosted in the UAE. Um, you know, by, uh, you know, an oil and gas state. Um, and, uh, uh, so it’s had a bit of a different flavor, but just the very controversy around should oil and gas have a seat at the table in these global climate discussions is like kind of unbelievable to me. Right. Like oil and gas, um, you know, produce the vast majority of, you know, the world’s energy systems are leading the way in, um, in, you know, producing ever cleaner oil and gas. They’re not going away anytime soon. Right? Like oil and gas are going to be here for decades to come. Um, and yet, you know, people are questioning, should we even have a seat at the table? Uh, do you see that internationally? You see that domestically? Um, and that’s a frustrating conversation, right? Um, so, uh, that being said, uh, you know, I have a number of companies that are over there right now participating in the discussions. And I’m, you know, I’m glad that industry is continuing to at least, uh, try to ensure that they have a seat at the table, because if you’re not at the table, you’re on the menu. And, um, you know, whether even if we have to, you know, elbow our way in there, like, it’s important that oil and gas is part of these conversations.

Rey Treviño [00:06:22] Well, first of all, you’re absolutely right. It’s crazy that we even have to elbow our way into these conversations. I’m at a, uh, a summit myself in Florida right now, and I sat down with some individuals this morning and they were like, well, what do you think about, you know, all this transition? I said, it’s great. I said, but we all have to work together if we really want to make these. And I’m going to use parentheses here from our listeners, the changes that they want to make, it’s not one or the other. It is a everybody, you know, they talk about inclusion and they want to include all the different. Well, we got to include all aspects of energy to really make a big difference.

Anne Bradbury [00:07:00] Right? I actually had the honor of testifying before the House Energy and Commerce yesterday, um, as sort of the lead up to a delegation that’s going to cop, um, later this week and, you know, talked to the committee about the important role that oil and gas has to play in this conversation and how policy shouldn’t be picking winners and losers. We should be looking for the best available solutions. And, um, that, you know, that energy policy, climate policy and national security are all inextricably linked. You know, you can’t you can’t try to, um, impact climate policy without impacting energy policy, which also impacts national security policy, which impacts economic policy. Right. Energy is the foundation for all of these things. Um, and you have to look at all of them, uh, as, as linked as they are.

Rey Treviño [00:07:56] Yes, I agree. And it’s again, I just think what you’re doing and I think it’s also I want to point out and I should have done this in the intro about you. Not only have you spoken in front of the House of Representatives representing the oil, you know, full oil and gas, but you’ve also been seen on Fox, Fox Business and several other large stations, uh, you know, out there advocating for oil and gas. And I should have mentioned that in the beginning. And but saying that, you know, I want to transition to Nape, you know, Nape 2024, as you know, Nape is a very big deal to the oil and gas industry. You know, the tagline for Nape, Nape deals happen and you’re going to be speaking at this event. And, uh, if people, uh, individuals out there that have not bought tickets yet and haven’t got the speaker package of, that’s where you can go in and listen to and I recommend it. And that’s why and really why I wanted you to come on today to kind of just talk about, you know, what it is. Maybe you can teasers about what it is that you’re going to be talking about and, and what you’re excited about coming back to the great state of Texas.

Anne Bradbury [00:08:56] Yeah. So first of all, I’m very excited about coming back to the great state of Texas. Um, it’s one of my favorite parts of this job is the ability to sort of get out of Washington and talk to real people. Um, so very excited for that. It’s actually my first time at Nape. I’ve never been I know all about it and I’ve heard all about it. Um, but I’m excited to to to be there in person this year, so I’m I’m super excited. Um, my portion at Nape is I’m going to be talking about almost kind of what we alluded to before, which is, you know, oil and gas is a central place in the global energy mix. And specifically American oil and gas is a central place in the global energy mix, how it underpins our economy, um, and how we can also have a seat at the table and should have a seat at the table in climate discussions as well. Right. Um, all of these conversations are intertwined, and we have an essential role to play and an essential voice in all of them. Um, and then sort of, uh, as part of that, also talking about sort of the intersection of energy and politics in America and in Washington. So what can we expect to see out of Washington in the next year? What, you know, are some of the potential impacts of the election? Um, obviously, energy is a highly regulated industry. And, um, you know what? What’s what’s coming out of Washington can have a pretty significant impact on, uh, you know, the energy industry and, you know, operationally, um, you know what, you know, you know, how these how these policies impact oil and gas companies. So I’ll be trying to to preview some of that as well.

Rey Treviño [00:10:30] Uh. I’m just. I’m just so excited, uh, to have you there. And I’ve listened to you speak before, and, you know, uh, the the knowledge and the data that you bring to your, uh, to, to when you speak, uh, it’s just so exciting because, you know, uh, you know, facts are friendly and you bring up and you share with others. And that’s what we’re supposed to do. You know, it’s, you know, I, you know, kind of my same way as I talk about with God. I believe in God. But I’m not going to shut the Bible down the throat. But I’ll give you some facts, and then you take what you want. And that’s what I do with the oil and natural gas producer. It’s like, hey, we draw oil wells, we produce oil. Here’s here’s what we do, and this is how we do our best to follow all the rules and regulations that keep, uh, the Railroad commission happy here in Texas.

Anne Bradbury [00:11:13] Yeah, yeah, I actually just building on that. You know, I think that that’s a that’s one of our really important roles that we play in Washington too. And we kicked out kicked off an initiative this year called Energy Education. And because part of what we learned with, you know, a lot of our, um, you know, over the last few years is that, you know, policymakers who are, you know, writing the laws and regulation that impact industry, um, you know, aren’t necessarily as informed on both our day to day operations, but also the historical context of American energy production, the important role that we play, the energy revolution over the last 15 years and the impact that it’s had on this country in terms of our economic growth, our national security, um, and the climate benefits that has accrued, uh, as a result. Um, and so we have this whole energy education deck that we present to policymakers because, um, I think if you are presented with the facts, um, you know, you can you can, uh, sort of narrow down the conversation and have a more informed conversation and a more informed conversation really benefits industry.

Rey Treviño [00:12:23] Oh, absolutely. Just, uh, you know, uh, at just. It really goes a long way. And the education, uh. You know, uh, we need it all from you. Even from the grade school levels. And, uh, because, you know, why is it that now oil and gas and other parts of the energy sector and fossil fuels, as they call them, those jobs, you know, people are not graduating as much? I think there’s been a 50%, uh, you know, uh, decrease in that as well. And that’s just another way that we need to be educating those. Um, and. As we’ve been to 2024. You know. Good. But like. Like I told you in this episode, you know, at least in here in January, the beginning of the month of the year, where do you see you guys going? And are there any important policies that we need as small independents or just oil and gas people need to be aware of and help getting the word out here to fight with you guys for 2024.

Anne Bradbury [00:13:30] So, you know, for better or worse, you know, I sort of describe 2024 as the year that the regulatory tsunami is cresting. Right? So there are a lot of regulations that have been in the works for the last three years that haven’t yet been implemented or taking, taking effect. And the Biden administration is going to be very focused on finalizing those regulations, um, and implementing them, um, in, you know, what might be the last year of their administration. Um, so the first one we’re seeing right now is the methane rule out of EPA, um, you know, known as quarto that was re just dropped over the weekend. It’s 1600 pages, so we’re still digesting it. Um, but that certainly going to have, you know, a big impact on industry soon to follow. After that, we’re going to see implementing language for the methane tax, um, which will be assessed on 2024 emissions. So that’s something that, uh, you know, is something that we’re working really hard on. Um, obviously we oppose the methane tax. We think it’s punitive on American producers. Um, and unfortunately, they’re changing the underlying math of the methane tax because they’re rewriting the subpart W reporting rules. And so, um, it’s going to artificially inflate a lot of companies emissions and then artificially inflate the tax that you have to pay on them. So I would say in this sort of emission space, these are the three things that we’re most focus on is the methane, the methane regulations, the methane tax implementing rules and the subpart W reporting rules. Um, but on top of that, you know, it’s, you know, less important for a Texas producer. But, you know, doi continues to, um, you know, uh, work on rules related to federal land production, Endangered Species Act, uh, listings, um, you know, which can impact both public and private lands. Um, and the SEC for, for public companies. Um, but also, you know, tangentially impacting private companies, um, are getting ready to, to finalize their climate disclosure rule. So we’re really, you know, seeing it from all sides. And 2024 is going to be the year that these things hit. And so staying informed and anticipating all of this is going to be really important for the industry.

Rey Treviño [00:15:56] Well, you said it. And that’s why I said yes, ma’am. It’s like we’re going to get it from all sides, and we just have to be strong and do our due diligence. Uh, and, you know, for individuals out there that want to keep up with these policies, and I want to see what the American, uh, Exploration Production Council is up to. How can they get Ahold of you guys are gonna have to find out this research. Yes.

Anne Bradbury [00:16:17] Yeah, yeah. Um, so SPCA org is our website. Anyone can sign up for our newsletter and alerts right on our website. Welcome to do so. We not only sort of try to send updates related to, um, sort of policy developments in Washington. Um, but also, you know, you mentioned the election sort of when are important, you know, voting dates, uh, that are coming up. How do you register to vote? Um, you know, how do you how do you vote in your particular state? We want to make sure that, um, not only are people informed, they’re also engaged. Um, and so you can you can sign up on our website for those updates. Um, you can follow us on social media. Um, you know, we’re we’re on Twitter and Instagram and all the socials, um, and LinkedIn, uh, we have a blog where we try to do sort of explainers on some of these issues in a way that’s a little bit more digestible than for the regulatory language. So, um, you know, I encourage people to check out their blog, our blog, to sort of, uh, look at, you know, sort of help, help unpack some of these more complicated issues. Um, and if there are things especially, you know, related upstream that, you know, folks are trying to understand a little better, you know, and, you know, want to learn a little more about, like, feel free to reach out. And we’re always happy to to take those suggestions and questions.

Rey Treviño [00:17:31] Oh. Well, and I’m just excited again. We’re just about two months away from nape. Excited to have you back here in Texas. So you know again Nape Expo February 7th through the ninth at the George R. brown Convention Center there in Houston. Uh, definitely want to bring your jacket. Uh, you know, last year was a pretty cold one for us. Uh, and I think the year before that, we were all wearing short sleeved, you know, so polos and, uh, just you never know what to wear.

Anne Bradbury [00:17:57] I’m not worried about Texas is winter.

Rey Treviño [00:18:03] Well, and again, I cannot thank you enough, uh, for doing this interview on the Crude truth I have, I’m just so excited because I know I wanted you to be on the show now, since I’ve been doing it for two years. And, uh, just it’s just a great opportunity to visit with you. And, uh, what I’d like to do here down the road is get you back on it and talk more detail about policy. And if that’s something that you’d be interested in.

Anne Bzadbury [00:18:25] Absolutely. That sounds great. Uh, glad we finally made this happen. And look forward to seeing you in a couple months.

Rey Treviño [00:18:31] Yes, ma’am. Well, and, uh, thank you so much. And it’s all this out there again. Nape Expo February 7th through the ninth. And, uh, we’ll see you next time on another episode of The Crude Trut.

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