📰 Stay Informed with My Patriots Network!
💥 Subscribe to the Newsletter Today: MyPatriotsNetwork.com/Newsletter
🌟 Join Our Patriot Movements!
🤝 Connect with Patriots for FREE: PatriotsClub.com
🚔 Support Constitutional Sheriffs: Learn More at CSPOA.org
❤️ Support My Patriots Network by Supporting Our Sponsors
🚀 Reclaim Your Health: Visit iWantMyHealthBack.com
🛡️ Protect Against 5G & EMF Radiation: Learn More at BodyAlign.com
🔒 Secure Your Assets with Precious Metals: Kirk Elliot Precious Metals
💡 Boost Your Business with AI: Start Now at MastermindWebinars.com
🔔 Follow My Patriots Network Everywhere
🎙️ Sovereign Radio: SovereignRadio.com/MPN
🎥 Rumble: Rumble.com/c/MyPatriotsNetwork
▶️ YouTube: Youtube.com/@MyPatriotsNetwork
📘 Facebook: Facebook.com/MyPatriotsNetwork
📸 Instagram: Instagram.com/My.Patriots.Network
✖️ X (formerly Twitter): X.com/MyPatriots1776
📩 Telegram: t.me/MyPatriotsNetwork
🗣️ Truth Social: TruthSocial.com/@MyPatriotsNetwork
Summary
➡ The global oil crisis is causing a ripple effect, leading to potential food and fertilizer shortages, and impacting various sectors like mining. This situation is also causing governments and markets to reduce consumption, which could harm the global economy. The crisis is also affecting the prices of gold and silver, which are expected to rise once the situation stabilizes. However, the ongoing crisis could lead to more economic challenges in the future.
➡ The discussion revolves around the current state of the silver market, with a focus on the price and demand for silver. The price of silver is higher now than in 2008, making it more expensive to manipulate the market. There’s a significant demand for silver, especially from China, due to its use in solar panels and electronics. The speaker also mentions the operation of a silver mine in Peru, and the ongoing drilling program aimed at expanding resources.
➡ The main point of the discussion is about the potential of mining companies, particularly those like Kuya, that are increasing production and resources simultaneously. This combination is seen as a powerful and less risky way to achieve significant growth. The conversation also touches on the fluctuating prices of silver and gold, and how these changes can still be beneficial for mining companies. Lastly, they encourage viewers to educate themselves about the market to make informed decisions, and provide contact information for further inquiries about Kuya.
Transcript
Unfortunately, I am joined by someone who is very well versed in the silver market, also the silver mining equities and whole bunch of other things to dig through some events that really could have quite an impact, of course, in the midst of an Iran war that has a lot happening, shall we say. So, David Stein of Kuya Silver, welcome on in my friend. It’s great to have you back on here. How are you today? I’m good, thanks Chris, thanks for having me. Look forward to chatting today. Yeah, well I appreciate you being here especially today and people may remember that you joined us right at the turn of the year, heading into the new year when that was David getting calls from solar panel manufacturers in China and India trying to buy his production at premiums over spot which we’ll touch on before we wrap up today as well because we’ve had this silver spike to over 121.
It’s come back down as low as I saw a 6120 print. So almost half off yet. David, as will be quite curious to get your opinion on it. I’m of the school of thought that like everything that drove the price there and then even with the sell off has not yet been resolved. But we will touch on that and more anyway we see here’s the front headlines. U.S. and Iran haven’t backed ceasefire idea as Trump of Hormuz straight deadline nears Will leave aside whether anyone out there is front running these headlines which I’ve heard a lot of speculation over the weekend may be the case.
But oil prices little has changed and we can see here that crude oil up at 112.31. Although behind the scenes of that we have shortages developing in a variety of locations and based on what happens there certainly could be quite an impact on the gold and silver markets where we’ve seen gold and silver sell off ever since the war began. So. So David, a lot happening and I don’t know if that was a question. I just laid on you there. But what are your thoughts in the midst of everything you’re seeing right now? And certainly as someone who is trying to identify and bring silver to the world in the midst of this, what would you say about today’s market environment? Well, I think the oil price on the whole is definitely way up and I know we’re seeing a lot of dislocation between different sources or different ports in terms of the price and, but, but overall, you know, it’s up a lot.
What that means is it, it, it’s still a big input cost for pretty much everything. So, so I think what, you know, so I think it’s going to, it’s going to either do one of two things. I think if there’s, you know, if there’s money around to, to, to buy that oil, it’s going to, it’s going to go into, it’s going to cause inflation. I, but actually I would be more worried about the other, the other side of it which is that it’s going to cause more of a deflation, a global recession and we’re going to see that, you know, that demand go down.
So that’s, but that, you know, it’s going to be one of the two things. It’s, it’s not going to be the status quo, that’s for sure. Yeah, I know what you mean and I think that’s the real risk and let’s call it perhaps a short term risk where if we do see the oil price spiking, which I don’t even know if that’s the right way to phrase it internationally we’re seeing it spike and we will get to that. Already spiked in just a moment. But let’s say it’s even, let me put it like this. Let’s say that you can click onto your oil feed which right now says 112.
These are the oil futures. When this says 150. David, I agree completely with what you’re saying that that is going to have a big impact on growth. I think there’s a high probability that we’re already headed towards that outcome. And while in a longer term sense, I mean what is, what is Jerome Powell or Kevin Warsh gonna do? Sit there and let the bond market collapse? Are they gonna print whatever is needed? So yet the key is that you will have the initial deflation response and we could see further sell off in the gold and silver markets.
But let’s take a look at why that could be. Here was Jeff Curry. David, you remember Jeff, he’s the one who explained how the shorts are the ETFs. The ETFs buy the physical, they turn around and they sell on the comex. The trust like SLV that used to be an authorized participant for legally sell futures on the COMEX to front run their customers when they put deposits in there even though that’s explicitly prohibited in the SLV prospectus. But nonetheless Jeff mentioned how deliveries to Asian refiners actually costing between 130 and 170. This was back on Friday.
Oman crude, the benchmark for oil on the free side of the straits spiked to 173 a barrel. Jet fuel spiked to 230 in Singapore. That was on Friday. Here we have an update today. This came out April 6th. Premiums for US West Intermediate crude have soared in the spot market to record of between 30 to 40 a barrel. I’m wondering how long it will take before that’s recognized in the West. David we also did hear Scott Besson in the past couple weeks he’s talked about different actions they’re taking to control the oil price. So it’s not conspiracy theory.
The man told you they are intervening in the oil market. I wonder if the Exchange Stabilization fund is not intervening in the gold and silver markets at the same time. But it doesn’t sound good with oil. Is this something, do you see an easy resolution or when you hear that countries are getting the last shipments on the way now where do you see this going? We’re definitely already, you know, I’m already, you’re already hearing about shortages especially Australia West Australia, the mining industry, huge mining industry and very, very reliant on diesel fuel there. So a lot of you know, immediate impacts getting, having trouble getting the diesel even if they’re willing to pay you know, 2×1 and a, you know, 50% premium two times for it.
They’re just getting it is a big problem. So you know we, you know we’re, we’re fortunate. We don’t, we don’t have those issues where we’re located but certainly where our mind’s located. But certainly, you know different parts of the world are going to get hit very differently. You know just, just look at the fact that you know that Oman crude price is 170 something because they’re on the past the Strait of Hormuz so they can basically they can load their, their crude which is like a higher, probably a higher quality crude without, without I guess you know fear of missile attacks and stuff like that.
So you know you’ve got 170 price at that particular port, you’ve got 140 in Texas. Right. You’ve got probably significant less in, in the Persian Gulf because you can’t get the oil out. So it’s, it’s got to be heavily discounted if you can even, if you even buy it. So it’s just, it’s a crazy dislocation of, you know, it just changes the logistics and the supply chain for the whole world completely. And if we go back to not that long ago, Covid, remember, different problem, but same kind of impact that, you know, the global supply chain, which we all rely on to keep costs low, was heavily, heavily affected by, you know, different countries treating the COVID crisis differently, some factories shutting down, some were not, you know, etc.
Etc. And you know, that just caused chaos for years. Actually, you know, it probably took at least, you know, two plus years before things got back to normal. And so the same thing is happening again. I think that’s, that’s really the, the closest thing we can compare it to in recent memory. Yeah. And we will also take a look at some comparisons price wise between what we’re seeing now and what happened in 2008, which not trying to scare anyone, although at times like this it’s often been in the back of my mind. I remember back when Silver, David, you and I were talking before we had record being back at The Silver Symposium, 2022 and you’re there.
I was with you in person the day silver went below 18 bucks as the Fed was hiking 75 basis points at a time and wondering, you know, if we get, if we apparently that was at least the bottom of a 2008 like move. So we’ll look at those charts. But to what you just shared, I mean we’re seeing it happen now. It’s amazing that, you know, you had that big day in the oil price back. I think it was Thursday when it was up 11 bucks yet not being recognized in the West. Yet global fuel shortages pushes governments towards demand controls.
Here’s a term that people are going to start hearing a lot more of, demand destruction. So at what oil price do you have different parties say screw it, we’re not going to do it. So that’s also, David, to what you said earlier, slowing growth. But here that we have demand controls, not, not good. Both governments and markets are forcing reduced consumption, likely hurting the global economy, much like you pointed out. Also we have the unusual conditions where West Texas has soared past Brent. Not normal, but indicative of the backwardation in the market. Also here’s cnn, the Global oil crisis is turning into an everything crisis.
India going to face a food crisis. Farmers panicking over fertilizer shortages. David, you also talked about the Australia with their diesel shortages that it’s affecting the mining sector. And wasn’t weren’t we already even before this began? I remember this whole strategic critical minerals was a problem to the point that David Copley the White House supply chains are said they were gonna have to put hundreds of billions in there. And the last we heard is that Iran basically has until Tuesday to either open the strait or Trump’s gonna bomb them into the Stone Age. Which you can comment on the status of anything there if you’d like.
Yet more. So we’re seeing. It’s not if this happens in oil or if these side effects and consequences occur. It seems like they’re already happening in the world. Yeah, it’s gonna be very interesting to see what parts of the economy get affected more than. More than others. And you know, we, we know there’s besides oil, there’s a lot of fertilizer minerals that go through the Strait of Hormuz. There’s helium, which is an input into chip manufacturing, goes through there as well as a byproduct of natural gas production. So you know, it’s, it’s gonna, it’s gonna trickle down into a bunch of other things as well.
And again this, it’s just, it’s, you know, it sounds, it sounds like Covid all over again in that, in that sense that, you know, where it’s like it’s one problem and that causes another problem and another problem and another problem and all of a sudden like everything’s sort of all effed up. And so that’s, you know, if that’s what’s going on, obviously we have to buckle up for some tough times economically. I do, I do think that once things settle out just like they did in, you know, in, in 2020, gold and silver will do very well.
Yeah, I certainly agree with you there. And I had already been not licensed financial advice, although I’m fortunate to have a amount of cash that I’ve been moving towards basically increasing an aggressiveness of a bet on gold and silver, especially the mining stocks which thought were relative to where bullion is actually trading, which has moved quickly. We’re cheap yet seeing the reaction that we’ve seen since the war began. And let me pull up today’s pricing, we didn’t get to that yet and give everybody an idea of where things are trading as we have a gold price at just about noon on Monday afternoon, 4682.
We were up at 5400 when the war broke out, high of the cycle and all time was above 5600 and we saw a big sell off. It’s been choppy since then. I guess if based on where what we’re seeing with oil now, it’s kind of nice. I guess I don’t need to be in a rush to do something. I could see more downside yet. I did think this was a bit of a buying opportunity with the metals. Here is silver which was up at 96 the night the war began. Now down got as low as 61 and change.
Now it’s 72. And we’ll talk about the Chinese premiums in just a moment yet. I think the like you point out, we could see more downside here. I think that’s a very, there’s an elevated possibility of that right now. Yet when you think about, well, what ultimately has to happen. Trump and his team already tossed out 200 billion they’re asking for and now they’re gonna have to pay for that in a reduced growth environment. So David, it sounds like from a longer term perspective you can get an idea of where there’s a good probability this is headed.
Yeah, well and it’s interesting you mentioned something there that one of the, one of the hues that hasn’t really dropped that we did see in the 2007 8, 9 time frame is the US dollar weakness. It’s been pretty strong this whole time. It actually strengthened since the war started. And with these billions of dollars that are required and or hundreds of billions of dollars required to continue just the normal, you know, sort of balance sheet, you know, balance sheet of the US even pre war plus. And then you put that in a lower growth, potentially recessionary environment.
You know, I think it’s, it starts to become more and more likely that interest rates go down, US Dollars weaker and you know, that could provide a little bit of fuel to the precious metals market as well. That again haven’t, haven’t really seen in this cycle. Yeah, and of course it hasn’t changed that. Everyone in the Trump administration outside of the Easter bunny has talked about how to reshore manufacturing. They need a lower dollar and wonder how that plays out where if China is the manufacturing engine of the world and they’re siding with Iran while Russia continues to reportedly send satellite images for Iran, you wonder how this whole manufacturing process goes.
And I agree with you that they’re going to need that cheaper dollar that I think that’s the one thing they’re being honest about. They want the cheaper dollar, they need the cheaper dollar. They’re gonna make the dollar cheaper. And if you go back, what was that about 110 when they came into office? So, David, anyway, I want to take a quick look here, just so we can see. Here is the gold price back in 2008. Now, if you can believe this, it was at a thousand and it was right after that JP Morgan Bear Stearns deal, which I won’t dig into today, but silver fell like a rock after that one happened.
Found out a little bit more about what went on behind the scenes from Bart Chilton about a decade later. Yet either case, here you can see gold starts falling right in March and by October it’s gone from 1,000 to 700. And when we look at the oil chart, you see oil was just starting to rise back in. Well, I mean a little earlier, before March, back here in January. But as the oil price went up, that is when gold and silver came down. So any thoughts on that, which is kind of what we’ve been talking about and you would expect and what we saw back then and what you would think there’s a chance we could see some more of in the days or weeks ahead.
Yeah, it’s a very interesting analog to what’s going on today. Obviously the, the causes were different back in 2008. There was no war, it was constraining supply. It was more of a demand driven price spike, I think overall in terms of the oil market. But you made a good point that gold and silver kind of led the market. And then you had oil almost lag it. Right. It kept going up for a few more months and then boom, down. And then you saw in the other side of the chart, you didn’t talk about it, but it went down pretty harshly once the demand dried up and we got into the credit crisis.
And, and so, you know, again, certainly something like that would seem to be likely to happen again. So you can see it went from 1, almost 150. I think 147 was the high or something. And then, wow, look at you. 147, 7 what we got on investing. Very nicely done. And then all the way down to like 30 something at the bottom there. So 3240. I see, right. Yeah. So that’s, that’s, you know, let’s, let’s, let’s see. We could have something like that again. And, and that’s, that would be, you know, I think if, if he, if you then look at how gold and silver reacted.
You know, they, they did bounce back very fast once, Once, you know, once you had that correction, you know, that you mentioned earlier, from a thousand to seven hundred for gold. So 30%. Right. Then it, it, you know, it went back up again pretty quickly. So. Yeah. And at that same time you went, silver went from 21 to 9. Although oddly. What, what happened? Oh, yes, there were physical shortages back then. And again, I’m just sharing my opinion is not a recommendation of what anybody else should do yet. I wonder if maybe we’re not at $12 silver right.
As Covid’s breaking out just yet. Maybe we’re on the way down there. I could see more downside. Yeah, I would say like from the longer term perspective that. But let me interrupt you there because I think one big difference between 2008 and today is that the, the price, you know, we know a lot of the sharp movements in the silver price back then were due to paper trading of silver, not necessarily what the physical market was going for. And it tends to lead the physical market. But it’s because the silver price is much higher now. Like, you know, it’s 6.7x what it was back then.
Yes, there’s been some inflation, but not that much. So it’s much, much more expensive to, you know, to manipulate the silver market today than it was back then. So I think, I think there will be less of that today. If someone decides they want to make money on silver volatility, obviously they can, but I think it’s going to be, it’s less susceptible to manipulation the higher the price goes. So we’re in an era there where maybe there isn’t a lot of downside because the physical market, you know, is gonna, is gonna drive buying in these levels at 60, $70 an ounce.
Well, that’s 60 or 70 in the West. Although David, as you. I’m gonna stop our screen share for a second because I don’t think this is over exaggerating. But to some degree you told the world that China and India was willing to pay 10 bucks more. And I say that because you didn’t you say that after we did that Sunday night call on the open you even got, that’s when you got. We’re getting calls from India and also from CNBC Asia that asked to speak with you so they could write their articles. So. Yep. And again, when was that? That was right around the turn of the new year.
So it’s not like we’ve had those spreads just for a couple of days. Your Western spot 7251 Shanghai 80 51. So we’re still eight bucks over. And I, I kind of remember this whole thing about strategic critical minerals, stockpiles. And now, okay, Trump administration, they want to increase military budget by 50% next year and it seems like it. David, do you see the government’s letting AI fail or are they going to print whatever it takes to keep those going, that and the military. So budget or not, they’re already asking for more military money and I’m guessing they’re not in the middle of a war that’s not going well, largely because of drone warfare.
Doesn’t seem like silver intensive AI is going to slow down either. So if we already had those tightness issues, the spread is still there. Governments were already feeling a need to stockpile and now we have more things being blown up across the globe. Curious. Any thoughts on silver? Plus, if there’s anything you can update us with conversations you’ve had since then about what is what you’re seeing directly in regards to silver. And perhaps you could just mention that you do run the Bethania mine in Peru where you’re producing silver. You have active production. So if you could share any thoughts on any of that.
Yeah, sure. So we are, you know, we, you know, Kuya does have a producing silver mine in, in Peru. And Peru is one of the most densely traded mineral markets in the world because they produce gold, copper, silver, lead, zinc. So the ports, Peru are shipping metals out to the world, mostly Asia on a regular basis and we’re part of that ecosystem. You know, I was, I was talking to a trader recently and they indicated that, that the China premiums were real and that are still going on. So when, when you show the, the Shanghai price against the London or New York price, I initially thought there was some other reason for that, that it was related to tax taxes or import restrictions or something like that.
But it does really seem that from what I’m hearing from traders very recently, this is a real demand driven premium. Now, whether it’s also to encourage ships with silver metal, silver concentrate to land in China and unload in China versus their competitor countries nearby like Japan and Korea that also need a lot of silver, that could be part of it. There could be kind of a little bit of a strategic rationale for that premium, but that does seem to be a real aspect of the market. Right now. China is the biggest user of silver with the solar panels and the electronics being the main uses and on the industrial side.
And yeah, it’s to the best of my information, as someone who’s in the market, that is still going on today. Yeah. And you can certainly understand why when you take a look at the inventories backing China, aside from if you’re a silver investor and you’re looking at this and thinking, wow, that’s great. I mean for the rest of the, for the functionality of the world at least, that depends on silver. I mean this is somewhat disturbing, David. We, the LBMA hit issues when their free float got down to 140 million ounces. They got their teeth kicked in.
Here’s China being backed by 20, 21.3 million ounces. So it’s, it’s not a surprise they’re calling and what did you say initially they were asking for concentrate and they were looking for a different form. Basically, you know, silver comes in two forms. So it’s either going to be concentrate which you know, goes to a smelter and then you separate the metals out or it’s going to be, you know, sort of rough door rebars that’s going to be a mix of silver and gold and then that can go straight to a refinery. Those are the two products that mines produce one or the other usually.
And they, they, they want, they want it all because they have refineries, they have smelters, they have lots of end users. So, you know, I think China will pretty much take as much silver as we can give them right now. Yeah. And I continue to hear the same from the variety of different people I talk to that even as the prices come down that supply is still tight. So appreciate you shedding some insight especially since you’re really on the front lines of that. And David, just perhaps last thing, I’d love to check in. I know you have some drilling ongoing which certainly seems to be a good time to be in your position whether there’s a, I don’t even want to call it a deflationary sell off.
I just think that phase of deflation will be so quickly overwhelmed by government printing yet we’ll see how that plays out. Although given the supply issues you mentioned, I know you have a drill program ongoing and anything you could tell people, especially those who are looking for exposure through the mining stocks, which unfortunately maybe you could touch on that you’re actually going to be, we’re going to be making something that will help provide a little bit of an education of, for the people who see all these different projects. How do you actually value one of these things is something that will be doing going forward.
But anything you could Share there, David? Well, in terms of Kuya specifically, you know, you mentioned we, we did announce an expansion of our drill program recently. You know, that’s just because in this market and given how well financed we are, we’re, we’re on the, we’re on the cusp of, you know, having positive cash flow from the mine after just, you know, starting it up. Very recently we decided that our current drill program was too, too meager, it was insufficient. So we expanded it and we’re very excited. Much of that, there is some drilling going on right now.
Much of the expansion, much of the expanded program will happen in the second half of the year. And you know, we’re really sitting on a big property with lots of extensions of these veins at depth, other vein systems that we found that have not been drilled yet on, on the property. So we have, you know, years and years and years to drill here and, and expand our resources and then that, you know, likely will lead to mine expansions down the road as well. So very, very exciting time that now we’re in the position finally, after many years of kind of struggling, we’re finally in the position where we can really go hog wild and, you know, drill off a lot of resources while we’re also ramping up the mine, producing more and more silver, making more, more cash flow from the mine and looking at how to expand that as well.
So, you know, you, you referred to, you know, something that we’re going to talk about in a, in a, maybe in a subsequent podcast or, or video about valuation. My background before I started Kuya, I actually was a silver and gold mining analyst. So I covered, you know, dozens and dozens of these companies in my, in my previous part of my career and you know, I’ve got some pretty, I think, you know, well educated views on, on how to look at, you know, company whether it’s cheap, whether it’s expensive, etc. But what I found in my career was that if you can find a company that is growing resources and production at the same time, that is the most powerful combination that you’ll come across in a mining sector other than maybe just kind of a lottery ticket freak discovery.
But those are very hard to predict and very risky. So I like taking less risk and still having 5x10x20x upside. And I think when you’ve got a company like Kuya that’s growing production and growing resources at the same time, that’s really the sweet spot. So that’s, that’s where we’re at with that company and you know, we can, we can talk more about that in more detail in another video. Well, yeah, and I think that’s going to be really helpful, especially some of those things that even longtime gold and silver investors might not always be aware of to the level of expertise that you have.
And certainly I think we got a taste of the mainstream coming into the sector back in late January at. I think if our what seems like is shared longer term thesis for both of us is that we could see selling pressure in the short term. Yet a year or five years from now I’m guessing that both bullion prices will be quite a bit higher. And David, I interesting what you mentioned about being in production and having the drilling ongoing because I think what gets lost a lot, why it’ll be so helpful to get your insight on how the valuation works is that I think a lot of people are looking at oh well, silver was 121 bucks back here.
Now it’s at 72 and they’re bummed out. Yet I think it gets missed how good this price still is for the mining companies. I’m going to pull up the. Here’s, here’s the one year chart. David, you can speak firsthand to this. There we are, back 29 bucks. It had just dipped back down under 30 after they announced the reciprocal tariffs last year. If you had told silver mining companies hey we’re finally going to be at 50, they would have been dancing naked in the streets. Then it went up to 121. And I think it gets lost just how much that matters.
I remember even when I remember very distinctly on Christmas night went to the music rehearsal studio after dinner and practicing my guitar and I have the silver ticket ticker going in the background. I’ll play a song. Silver is 72, you know, sit there, do another one. Oh it’s 73, 74. And it was almost. There was part of it that was scary because you thought well there is going to be a selloff at some point. Yet I remembered like it there was somewhere around there that it like stopped losing meaning and like all right, well I guess bigger number better yet that’ll be something I think will really be helpful that you can help people especially people who are newer to the gold and silver markets and especially the mining stocks where I do think there are great opportunities that are going to be out there.
And again which I hope people who are regular viewers to the channel, if you’re a new viewer, hit the subscribe button and notification bell because one of the things I love about you David. And is important to me at the channel. Not trying to convince anyone what they should do or ram anything down anyone’s throat, but rather just give information that can be helpful in navigating what are some rather wild and unprecedented times. Yet it’s kind of like you go back to those stories of during the Great Depression, there were people who made a fortune because they understood what was happening.
And obviously everyone and some people are just trying to survive what’s happening. In either case, I appreciate that you provide good information. And David, if people would like to reach out and get in contact or find out more about what you guys are doing at Kuya, could you just let them know the best way to do that? Yeah, well, it’s, it’s right here on this webpage, kuyasilver.com you can go to the contact tab there. You can also use that AI chat in the lower right hand corner to get more information or sign up for our news.
For our. Yeah, sign up to receive our news directly to your email or ask us a question. There’s lots of ways we really try and be very. Be approachable for, for investors and we’d love to hear from you. Well, I sure appreciate that, David, and appreciate you making some time. And I, I guess that AI chatbot you’re gonna have, someone’s gonna have to build a data center somewhere. Hopefully it doesn’t get blown up depending on where it’s built. And yeah, I can only imagine by the next time we talk, at least record one of these, what the world will look like.
So hopefully just hope people are safe out there and doing well wherever you are. And with that said, we’re going to wrap up here for today, but David, I appreciate you being here and we’ll have to catch up and do this again soon. Sounds good. Thanks. Yeah, thanks. It was a good discussion. Well, thank you again to David for today’s call and thank you at home for watching. Sure. Sure hope you found this one helpful. Appreciate you spending part of your day with us. And in case you want to see some more specifics about the stunning dynamics that are building in the oil markets, well, just click on the video that’s coming your way now.
[tr:tra].
See more of Arcadia Economics on their Public Channel and the MPN Arcadia Economics channel.