Podcast # 30, Our User Community and Service Providers

I'm truly pleased with this podcast! The content and presentation are excellent, and the material is a real pleasure to listen to. There are a few minor hiccups here and there, but they're absolutely negligible and don't detract from the experience at all. 🤓

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Timely Solutions, Part VI

 It’s highly inappropriate and somewhat unreasonable to criticize an industry's leadership for their performance over the past decades. People, Ideas & Objects have squarely placed the blame for the industry's difficulties on the producers, officers, and directors. Time will assess People, Ideas & Objects' methods, which appear to be either outright lunacy or rare and exceptional practicality.

If the lunacy should happen to fall to the officers and directors, it is rare and exceptional when individual investors consider a corporation’s investments no longer viable and decide that walking away is their best choice. However, that is not the case in North American oil and gas. The rare and exceptional element of the oil and gas producers is that the industry has been deemed unworthy of continued support.

Investors remain as shareholders to capture some of their investments through dividends. Liquidation of their positions is generally considered untenable due to their size. They expect to realize some value and gain some financial advantage over time if management is successful in rehabilitating their organization.

This level of action exercised against an industry on a wholesale basis is evidently a non-event. When investors signaled their discontent over a decade ago, that’s just history. But not a single producer firm did anything about it? The following question becomes the determinant as to the lunacy label: Which is worse, the investors' signal in 2015, or the subsequent decade of “muddle through.” Readers' choice, as I’d be biased in my answer.

Profits

The lack of “real” profitability is more or less the investors' issue. Profitability is at the heart of the steady decline of the industry's activities, financial liquidity, capacities, and capabilities. Unwilling to limit the damages to themselves, producers made sure to draw in the service industry and take them down harder and faster, betraying them and extinguishing any trust, faith, or goodwill they had in the producers. If anyone needs to understand why profits are so necessary in the industry, they can return to this point in time and realize this is what it’s like without them.

EIA, IEA, and OPEC are all in general disagreement as to the speed and severity of both conventional and shale-based volumetric declines over the next few years. Mark me surprised as they say it’s conventional and global in nature. I’ve always assumed it’s just North American shale volumes that were at risk, making it a continental issue that could be focused and driven. Now, as much as the “muddle through” crowd would like to think investors will rush back in (they weren’t), they’ll rush in elsewhere.

Producers have proven they don’t understand business to the level necessary to be profitable. They are stubbornly persistent about their lack of understanding and are unwilling to accept it and change. Absolutely nothing has happened or will happen until the investors show up at the party and start throwing cash around again.

September 30, 2025 Reporting

I am not aware of any reporting by producers about their need to inform investors of their impact from lost natural gas revenues since at least 2009. Their interpretation of the issue is unknown, and I find it odd their only action involves ghost banning my X account. They may be far smarter than the rest of us; after all, who would have thought we’d be here in 2025 with the industry in this condition?

Podcast # 29 Stablecoins and Crypto

 Following the release of our paper on Thursday, September 18, 2025, titled “President Trump’s Vision & Economic Developments in Oil & Gas,” our 29th podcast examines the transformative impact of stablecoin and cryptocurrency legislation on the U.S. financial system. This evolution shifts the framework from a post-World War II model to one optimized for the Internet age.

Minor inaccuracies persist in the presenter’s remarks, though they are sufficiently subtle that they may have escaped general notice. Providing detailed guidance on the podcast’s presentation often results in a departure from established formats and familiar elements.

Both the paper and the podcast address three critical components of the Preliminary Specification for the future of the oil and gas industry. Stablecoins and cryptocurrencies require the Joint Operating Committee to serve as the primary organizational structure, enabling producers and the sector as a whole to realize their full benefits. Asset tokenization or securitization becomes viable only when investors receive timely and accurate accounting information regarding the oil and gas assets in which they hold interests. The Preliminary Specification is uniquely equipped and designed to deliver this level of detailed, granular reporting.

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Timely Solutions, Part V

 Let's do some "what if" scenarios.

What if producers take no action before September 30, 2025, regarding past revenue losses?

• What kind of reporting are we talking about?

• Natural gas price structures have significantly declined since 2009.

• North American natural gas revenues were not realized.

• Solutions were available.

• They failed to acknowledge investor concerns about profitability and accountability from 2015.

• Officers and directors have failed, and continue to fail, to maximize the firm's assets.

What if no steps are taken to lessen the damage and resolve these issues?

• Reporting is just one step; what else have producers done?

• Investors have expected action since 2015.

• Will simply saying they have it under control or "muddling through" be enough this time?

• Will superficial attempts be made again, or have investors lost patience?

• Will investors expect officers and directors to make personal sacrifices and proceed with the Preliminary Specification?

How will producers address their revenue shortfalls?

• Are they anticipating extreme commodity price responses due to shale-based decline curves in oil and gas creating shortages?

• After recent layoffs and the rejection of the Trump Administration's "drill baby drill" policy, how will consumers react to higher prices?

• Are investors content to leave any potential windfalls in the hands of these officers and directors? What vision drives the industry today?

• How prepared is the industry for tomorrow's challenges? If a structural rebuild is necessary, why rebuild what has already failed?

What are the reporting requirements for September 30, 2025? Can officers and directors disregard these?

• In People, Ideas & Objects' opinion, informing shareholders about revenue losses will be mandatory. This was our conclusion in late 2023 when we first raised the issue of the industry's $4.7 trillion losses.

• However, there was silence. After President Biden halted the licensing of new LNG facilities, nothing further was said beyond what People, Ideas & Objects were stating. This made us appear foolish, selling a solution to a nonexistent, exaggerated issue.

• In August 2025, Shell vs. Venture Global was decided in arbitration in Venture Global's favor. If these significant gas revenue losses were a non-issue, why was Shell litigating?

• This was an admission that producer revenues, which they chose to ignore, were being captured by other market players.

• This invokes the SEC reporting requirements for those losses, which now involve the September 30, 2025, quarterly reports.

What if shareholders perceive the past 22 months as another betrayal by the producers? This includes ignoring the facts of revenue losses, if not concealing them by isolating People, Ideas & Objects' dissenting message. Since August 13, 2025, producers have also effectively "ghost banned" People, Ideas & Objects on the X platform.

Without clear action that can be reported before September 30, 2025, will reporting any action after that deadline be sufficient? 

I see no industry action, and no contact has been made with People, Ideas & Objects. Same old, same old, officers and directors have never been more comfortable. 

President Donald Trump’s Vision & Economic Developments in Oil & Gas

 I am pleased to provide our seventh research paper of 2025. This paper documents the overall legislative and policy initiatives, and proposals of President Donald Trump‘s administration. Taking these from the point of view of the impact on US oil and gas producers, as seen through People, Ideas & Objects Preliminary Specification. 

Our paper. 

Timely Solutions, Part IV

 Throughout the years, People, Ideas & Objects has maintained that North American oil and gas producers have not achieved genuine profitability since the mid-1980s. This stems from a pattern of overcapitalizing property, plant, and equipment, which has ensnared producer firms in prioritizing balance sheet expansion, inefficient capital allocation, and similar imprudent practices. Consequently, this has generated inflated reported profits, prompting excessive investor commitments that resulted in overbuilt capacity and overproduction of commodities governed by price-maker economics. Such dynamics have sustained industry-wide commodity prices below marginal costs for decades.

Over the past four decades, these factors have precipitated a significant erosion in the competitive framework of North American producers. This gradual value destruction was initially obscured, encouraging investors—drawn by the apparent profitability—to persist with their funding. By 2015, however, investors recognized the underlying issues and ceased further investments, thereby revealing the extent of the value erosion. This deterioration has persisted, exacerbated by the indifferent response from officers and directors toward investor concerns.

The emphasis by People, Ideas & Objects on profitability is deliberate: profitable operations would furnish producers with the necessary capital to manage their enterprises effectively. Governments and investors can never represent the primary sources of funding capable of addressing the substantial financial requirements of the oil and gas sector over the next 25 years. Profitability is the only source of capital capable of meeting the essential needs of this industry. As a primary industry, oil and gas bears responsibility for supporting the vitality of dependent secondary industries. Regrettably, the service industry has been subjected to considerable strain, reducing its capacities and capabilities to as low as 30% of previous levels, with limited intrinsic motivation for recovery. Resolving this challenge would prove complex if producers were to acknowledge it. Ultimately, North American oil and gas must undergo a comprehensive reorganization of its economic structure to attain profitability and restore competitiveness within capital markets. Only People, Ideas & Objects Preliminary Specification offers such a solution. 

Would producers incur a $4.7 trillion revenue shortfall if they prioritized profits? This loss, identified by People, Ideas & Objects in late 2023, arose from a fundamental misunderstanding of business principles. A routine examination of financial statements by officers and directors should have detected the substantial forfeiture of export revenues. Instead, efforts appear to have focused on dismissing this information, often under the pretext that People, Ideas & Objects lacked expertise and that the figure was implausible. For 22 months, this has undermined our credibility while producers have refrained from acknowledging the reality.

Since mid-August, developments have confirmed that Shell lost an arbitration case against Venture Global, seeking billions to recover a portion of their share of industries $4.7 trillion in lost revenues. Venture Global’s second-quarter financial statements indicate that their contracts could yield an additional $197 billion in revenues.

Material developments of this magnitude must be disclosed to shareholders promptly, ideally via an 8-K filing. This obligation extends to all producers engaged in natural gas exports. To date, no such disclosures have been observed. The forthcoming quarterly report, covering the period ending September 30, 2025, is expected around October 31, 2025, at which point producers should fulfill their reporting duties diligently. Failure to do so may invite significant repercussions.

It is also noteworthy that the LNG-related issue forms part of a broader structural decline in natural gas prices since 2009, an area addressed explicitly in the Preliminary Specification. The historical heating value ratio, approximately 6:1 from 2009 onward, has deteriorated to over 50:1 by 2024 and persists. The emergence of LNG markets presented an opportunity to mitigate these pricing challenges, yet over 16 years, no officers or directors independently identified or addressed it. With investors withdrawing support from producers’ capital structures since 2015 due to inadequate performance and accountability—and a viable solution available since August 2012—association with such a record would be undesirable.

Achieving authentic profitability in an organization demands rigorous effort. Current producers demonstrate limited understanding of how to generate profits, the rationale for doing so, or the requisite actions. Their apparent oversight of $4.7 trillion in evaporating revenues, without evident concern, suggests that profit maximization is not a priority. If their primary recourse remains suppressing critics, this conveys more than any explicit admission could.

Podcast # 28, The Preliminary Specification

 I was thinking, what would happen if we put the entire Preliminary Specification through Notebook LM. Would it be able to capture in a single podcast what was contained within? Well here it is. It’s over 45 minutes, it’s in an MP4 format which will use a video player instead of audio. I spent too much time in file conversion hell to warrant the conversion concern. It may take some time to be available and usable after you’ve downloaded it. 

First, the bots approached it objectively. Second they noted its radical nature and finally saw the bigger picture the Preliminary Specification is designed to solve. Well worth the time spent. 

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Timely Solutions, Part III

 We frequently read in the various media how producers are finding it so difficult today. Cutting back on capital spending and their staffing levels are the necessities they’re forced to use, just to keep going. Their sympathetic posture implies that without some good luck flowing their way soon, they may no longer be able to meet the needs of their customers. Yes it’s that bad and in this society where declaration of victimhood is all that’s necessary, we can all agree they are by far the largest. 

It’s at these points that I’ll never tire of stating we’ve offered the Preliminary Specification since August 2012. More pertinent though is the investors message to them in 2015 to clean up their performance and accountability. Outside of the recent pathetic pleas for good luck to fall their way. Mine has been the lone voice telling them what they knew all along and only have begun to admit to today. “Yes, the place is a shambles.”

And maybe we should imply there’s a greater recognition in their message. In all things it’s far easier to destroy than it is to build. Destruction is as deliberate a process as building is, finding the culprits in oil & gas doesn’t need to extend outside of the officers and directors of these producer firms. What is needed is the authority, responsibility and resources at hand in order to either build or destroy. Choices were made, they’ve done their job and reaped the personal rewards, somebody else will need to fix it.

Podcast # 27, Performance Evaluation

Combining the Performance Evaluation and Statistics & Analytics modules into one podcast turned out surprisingly good. The discussion sets in place the necessity of having the data’s structure and integrity established in the system first and foremost. Otherwise garbage in, garbage out rules. Consequently members of either the Joint Operating Committee or producer firms will be able to analyze that data with confidence and consistency. 

And there’s more. This data that’s been interpreted by the user is then able to be used in the Artificial Intelligence and Business Operations Management modules. Where the user may be able to capture unique competitive advantages from a deep pool of data. 

The podcast is presented well and captures the spirit of these modules in the overall Preliminary Specification. 

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Timely Solutions, Part II

 Now after a few years, we can assess the viability of the producer officers and directors defined consolidation solution for what ails the industry. Anyone’s assessment would have been a failure on day one and now we see unquestionably their consolidation strategy has failed. Operational efficiencies will create redundancies; however, we see far more incremental staff cuts, even large ones for Oil & Gas producers. The follow-on consequences concern me as well (Haliburton 20 - 40%). I see a big neon sign advertising the oil & gas industry advantages:

• Burearacracies only Karl Marx could dream of.

• Job security for the week and the dull hum of a quiet office environment.

• Watch in real time as the fourth industrial revolution plays out in other industries.

• Calculate the number of days left by multiplying the number of years to retirement by 232 days per year. Hope that your tie can hold out that long.

As I write this, Oracle founder Larry Ellison surpassed Elon Musk as the richest man in the world. Oracle forms the base of the Preliminary Specification. It seems People, Ideas & Objects picked the right horse, just the wrong rodeo with the oil & gas industry. Outside of the officers and directors, we’re all just the paying customers. Or the rodeo clowns. And maybe those sent unceremoniously to the unemployment lines are the lucky ones.