Energy Crue
Welcome to 'Energy Crüe', the podcast that dives deep into the heart of industry innovation, entrepreneurship, and personal growth. I'm your host, JP Warren, and each episode, we embark on a journey to uncover the passions and motivations that fuel industry leaders. We're not just talking business here; we're exploring the personal drives, the triumphs, and the challenges that shape today's pioneers. Alongside these inspiring conversations, I'll be sharing my own story - the battles with imposter syndrome, the pivotal mindset shifts, and the lessons learned throughout my entrepreneurial voyage. As a certified coach, my goal is to empower you, our listeners, to break free from the barriers holding you back. Join me as we navigate both the professional and personal landscapes, learning and growing together with 'Energy Crüe'
Energy Crue
Emily Easley: A Journey from Texas Oil Fields to DC Solar Power
From the heart of Texas to the forefront of the renewable revolution, Emily's journey is as inspiring as it is enlightening. A seventh-generation Texan, her familial ties to the oil and gas industry run deep, but it's her leap into renewables that's paving the way for a brighter future. Our latest episode is a tapestry of personal history and professional insight, where Emily shares her transformation from watching her father navigate the oil fields to becoming a trailblazer in solar energy herself.
As we wade through the complexities of solar technology's ascend to commercial viability, it's clear that Emily's story is not just about energy—it's about the ingenuity and resilience required to turn sunlight into sustainable power. The 2005 Investment Tax Credit and the power purchase agreement model aren't just footnotes in history; they're the catalysts that propelled solar energy to stardom in the renewable sector. And with AI and innovative balance of system improvements entering the fray, the solar industry's narrative is still being written.
Our episode rounds off with a candid look at the personal side of the energy equation. Balancing her roles as a business owner, mother, and single parent, Emily's insights into the energy market are as grounded as they are profound. Examining the impact of regulations, market movements, and the personal determination to lead a company, this conversation is a powerful reminder that the future of energy is as much about the people behind it as it is about the policies shaping it. Join us for a deep dive into an industry in flux and the stories of those who are steering its course.
e may n beslut, the, the, the and. Welcome to a new energy crew podcast of your host, jp Warren, and I'm super pumped about our guest today. You're on the east coast right now, emily, is that correct?
Speaker 1:and that's right, mm-hmm, all right so I'm on the mountain coast, which is in Denver, right now recording this and and again, I'm well you're not supposed to tag up during the Nate by the time in Houston, however, nate napers are gonna make you know, obviously in conversation, but I'm so happy to get on this up Podcast right now and talk right now. I think there's a lot of things to go over right now, a lot of things to cover Before we started recording this. Oh, obviously, I'm not Emily and I, with a brief introduction, kind of what we want to kind of discuss right now, and I think I think kind of leaving it out there and kind of having those, these topics, these important topics when it comes to energy Not just energy, but you brought up other areas and industries are kind of getting involved when it comes to energy policy as well and shaping and forming it and how it progresses. So, again, without further ado, well, first up I want to plug exec fruit, that this is brought to you by exec fruit. That fruit is the executive development program we offer corporate training, match of my groups and it all is bet. It's all about elevating your network's knowledge in yourself. So if you can surround yourself with people that want you to succeed and to achieve your goals. Check out exact fruit. It's been a wonderful experience so far. And, emily, I would love for you to introduce yourself.
Speaker 1:Give us a little background. Seventh generation Texan, is that correct? That's right? That's right, hey, and we do a little research here at energy crew. The staff does a lot of research and some generation Texas and also your father was an oil and gas base too. So, if you don't mind, give us a little brief kind of elevator spilling on your background, because I know your heart for dinner For me, there's a lot of things that people probably can dive into a little bit more. However, I think there's a lot of more current issues we want to get into. So, again, if you don't mind, yeah, well, the history there.
Speaker 2:I think, is it's important because it allows me to be authentic, I think, in a perspective that, however, I ended up in the renewable business Back in the early 2000s after being raised in Dallas and, yes, my father was in oil and gas investments and you know I'd constantly ask him when he'd nag us to turn off the lights and save energy, really because it was costing him money what that had to do with his business. Right, and trying to understand at that very point, as a little girl, like what is it that this electron has to do with these oil rigs? And you know the many different kind of things that he had in his office that I would play with in the 80s and I can remember the booms and busts. Right, it determined our Christmases, like, as Santa was, had good years and tough years, and so those cycles, what it were. He did a very good job of keeping the business out of our family setting but you know, it was very much a part of our lives.
Speaker 2:I am Many generations of small town Texas, right, this isn't your big ranches. You know we had Going way back a little town called Hillsborough, right in between.
Speaker 1:We're going Dallas.
Speaker 2:That's now the yeah, now the outlet malls. But you know grandparents and great grandparents from there and then you know it goes on and that's on my mom's side, the herrings. And then my father was from Amarillo and both of them moved to Dallas and went to SMU, and so you know that was big city for both of them, right going from small towns to big Dallas. And then my sister and I, they encouraged us to spread our wings, so she and I ended up in Nashville, vanderbilt. She went to Seattle, followed a college boyfriend, and I ended up going to DC to reconnect with my Texas and if I'm trying to say this, I think it's a really great experience for me.
Speaker 2:I mean I'm really happy to have friends from high school who moved up here during the Bush administration, and so the background I think you know, says the stage, for I have a great appreciation for the history of oil and gas. I think it's it is one of the most overlooked industries that has built America and the economy. I mean it goes back to just from the early days of when Resources that allowed us to build these economies, and so through that, you know I've been intrigued in energy. I studied Enron in college and the rise and fall, the soft side of business. And it was before the shale revolution, so peak oil was in sight.
Speaker 2:Yeah in O3. This was also pre investment tax credits for solar, which passed in 05, and I was encouraged by my father to get into the new energy space. Renewables were gonna be you know what? I was gonna lead the industry in this generation.
Speaker 1:So what did you study in college that brought you to DC?
Speaker 2:I know you're chasing down a Friend yeah, what were you studying that brought you up there and get friends? I Studied too much in college. I was ready. I said they were having so much.
Speaker 1:I don't hear that problem at all. You don't hear well, problem at all.
Speaker 2:Yeah Well, jp, I mean, look, I had my fun my freshman year and I got steered straight and once I got to Vanderbilt, I mean the way that I was learning we were. I mean it's all organizational Dynamics and the soft side of business, but human capital and what's interesting too, with fast forward 20 years, which is now what we talked about, is kind of this ESG, woke or not woke, but truly leadership, right, and we'll get into that in a little bit more later. But you know, I was at the end of my senior year when Enron was Collapsing and then there was the Bush Gore Election and I had lived in New York and actually interned at one of heart energies Publications in New York on Wall Street chemical.
Speaker 2:Okay was their publication that had they had sent sold out and and I knew I didn't want to live in New York. It wasn't, you know, and I had friends that were interning in DC, so it really wasn't anything regarding politics or you know policy, or I mean I was one of the few at the time that had no real political connections and it was very hard to get a job for that very reason, because I tend to steer in the middle, I've gotten a little bit more opinionated as I've gotten older, but I think that's natural.
Speaker 1:I think that's right right but, I, still.
Speaker 2:I mean, like you know, so we could, we could digress on many topics, but but when I had gone about six months into all these interviews and Really wasn't Will over the political candidates with being far on one side, which you have to scarlet letter here, and, and, believe me, I came from a conservative background in Texas, but you know, and and DC was a different place then.
Speaker 2:I ended up interning at a renewable energy trade association. That was very small. There were two Employees and I was an intern and then I was a second higher, the solar energy industries association, which was the trade group for solar.
Speaker 1:Okay, so I want to talk about that real quick. Okay, so that was in 2005. You said three, three, 2003. Okay so 2003, so it's 2024 right now. Isn't that crazy? I know I made a post Actually flipping the barrel of the Jamie. The JP's been in for 18 years and like whoa, no, whoa, so, and so what was?
Speaker 1:I mean, I guess, obviously the, the, the environments changed the the technologies changed the limelight on on solar channel. That's what was the conversations and the kind of the vibe around, kind of this new, I guess emerging market Of renewable, solar and stuff back in 23. Yeah, yeah, well, I mean, you know it was.
Speaker 2:We talked about this before. So you had very, very polarized side of this energy business that Very it was this technology solution that was clean. It was, you know, being driven by state policy Rebate programs, but it was very much an electricity solution right for generating power and but it was expensive.
Speaker 1:I mean so?
Speaker 2:solar. Then was still trying to crack the dollar a watt Goal through these programs. Very much of what you're seeing with DOE right now with hydrogen and carbon capture. I mean, they did.
Speaker 2:They also did with shale revolution like it was shale and trying to solve how to commercialize these technologies, but there were different technologies at the time, so we had what ended up now.
Speaker 2:What you see in solar is had had two reasons for commercializing, but at that point in time, you know, pv photovoltaic panels were one of three Types of technologies that were out in the field in the past, types of technologies that were out in the field and being tested and and the utilities had to get Comfortable with them, that they were proven and reliable, similar to, again, all of the, you know, new technologies that are getting the tax credits today to try to Stimulate, um, you know, and accelerate their Viability and affordability in the marketplace.
Speaker 2:So the time though, it was a very small niche industry I mean, I remember, you know, it being described as like the smallest niche energy solution that was out there pre tax credits. So in 2005, two things happened we, we, I say the industry was very successful. I just pushed the papers and made the phone calls to set up the appointments, but um, and getting this tax credit, um passed the investment tax credit in 2005 was huge. It was during the bush administration which I think is a overlooked, an important note that this was when we were increasing Reducing our dependence on foreign energy resources right, so this was energy independence.
Speaker 2:It was energy security, everything. We also had troops, you know, that were in the Middle East that were extremely vulnerable to um, you know their fuel sources that you know. We saw this with Russia and Ukraine. Like, energy is one of the weakest and most vulnerable points that we have In any type of war. But it's also, as a mom, one of the most critical things. If I don't have my you know chargers and Um, and the lights aren't working, like I mean, I'm out, right, the kids are screaming and crying and um, it's, we rely on it to keep the lights on. So at that point in time we were sending over these thin film. I'll never forget these thin film. What are was a technology that is still out in these really, really big solar farms because it's cheaper, just less less efficient. Um to the troops to power up their. Uh, what were those ps 94s? What were the? What was the nintendo back then?
Speaker 1:Oh uh, pm. Well, pm. You know that nintendo? Well, yeah, there's a nintendo 64. What was it?
Speaker 2:It's 64 Anyway, but yeah, instead of batteries, because it was cheaper for them to send over these solar, small solar panels To just play their video games when they could take time out or, you know, charge a flashlight or do that. And so that was solar, right, and it still is like, it still can be. You see it everywhere. That's what people were thinking about solar. Then, at the same time that the tax credit said we really need to figure out how to crack the code on this technology because this seems like there's more to Then, you know, powering a lot of potential here, exactly.
Speaker 1:So how do we?
Speaker 2:commercialize it and de-risk it. But then at the same time you saw what was the power purchase agreement and if offtake agreement business model come into the market and, and so I'll fast forward to midstream companies. And really I mean any project understands that a long-term contract with you know, agreed upon price within a term, is what it gets a project financing right, like that's what attracts the money if you have a buyer and if you have a long-term buyer even better, credit worthy entity.
Speaker 2:So at this point in time the industry had been trying to just sell solar Electrons to the market. Once they introduced the power purchase agreement which came from an executive that had worked in the oil and gas business and applied it to what were a Hole in the tax credit structures. So municipals and non-profits entities could not take the tax credits right because they didn't have tax appetite. So but they were credit worthy entities. So they would say I will procure the power and you go deal with these tax credits. So I'm gonna go and agree upon you know this price over a long period of time. And then, because of that agreement, you know, once the project's up and running, you have three now revenue line items in your financial business model. You've got my procurement of this electron right. Then you also have this tax credit 30% tax credit that you got to go figure out the financial structures for that. So that's another revenue line item, which there's different.
Speaker 2:There were different banks at the time that were building the tax equity market, and then the last was this green value of the electron right. So and what is known now as the renewable energy credit, and and so that I mean it was Pretty simple. Looking back, it's gotten. It's become extremely complex because a lot of really smart financial executives, people from outside the business, has come in and brought in innovation. But I would say that those two and pieces were the tipping point. But it took until 2012, so 2005, they started to take off.
Speaker 2:2008 was an eight-year extension of the tax credit, which was huge. But 2009 China came in and basically took all of our manufacturing abroad. But 2012, I would say, was a year that, unfortunately, I had decided to Kind of depart the industry at that point because I thought that it was just like never gonna get there and I was too much.
Speaker 2:It was getting too much. But those were the guys that were really really successful from 2012 to 2015. Since then, I mean, I would say there have been the the most In that. That's what has made kind of the technology bankable and Commercialized and it was accepted and reliable, I mean. So you have all those years approved and then now the innovation is going into what we call balance of systems, so anything beyond just the panel itself. So you know, you saw a lot of Kind of solutions going into how are these panels going to be installed? Are they going to be ground on a rooftop? Are they going to be rotating, tracking the Sun? And then now you know similar to where it all kind of converges, as to where oil and gas and the renewable industry is using AI, smarter optimization technology. So it's been fascinating to watch all of those. But you know, it's it seems like you know a long time ago, but then not a lot of time at all when are we now?
Speaker 1:Where do you feel like we are now? Do you feel like we're still kind of like this, like it's it's. It's kind of a it's Teenagers say age right now? Or is it still kind of at the cusp of new innovation, new kind of ways to deploy this the solar technology?
Speaker 2:well, I think, different from oil and gas, and you know, and so I'll, what we were working on and I worked on in the 2000s was not lobbying for these tax credits back to. I appreciate policy, I appreciate regulation. There are plenty of attorneys and lobbyists to handle that. I found my most interesting conversations were those that were trying to understand how is this going to impact my business. We were working with electric electric utilities all over the country so that we're being impacted by they are outside of Texas.
Speaker 2:Most utilities are regulated and under those regulations, like they have to provide power at affordable price, make sure it's reliable and, and you know, and it goes through a public utility commission, and so they were saying wait a minute, how can my customer who is buying power from me be able to sell power back to me? So you had this switch of the business model that Ultimately is for my interest of every time I would go back to Texas, and I mean, you know, I grew up in the petroleum club. We talked about that, you know ever so little girl a little Easter.
Speaker 2:I'd go back and and see family and friends. Over those years They'd say you're in solar, you know that's all is subsidy driven, it's too expensive and it doesn't work right.
Speaker 1:Okay, so the those are three main things that they said to you. Okay, so, 100%. Okay. So what? What were some kind of, I guess, points to kind of, I mean, what was some discussions around that? Here's another thing, let me. Let me preference that. Where does divide come from? Its energy? I, the most people I talked to the reason I'm saying this, most people talk to the energy space. Whether you're on the renewable side, or whether you're on the oil and gas, hydrocarbon, whatever side, everyone has appreciation of energy. It's this, I don't know what it is. It's like everyone on the outside, like you have to pick a side, you have to choose a camp, and I don't the people, the professionals I speak to you know whether your energy policy or whether it's on a, you know, renewable side of space, or it's like everyone has an appreciation of energy. It's just, it's just the there, the realities of energy, which is understandable. So Do you know that there's a divider? Is it just?
Speaker 2:no, there it's. I mean, I think, I genuinely think it's political preference of how you like tend to Fall in those two categories and then back to where we are today. Okay, how this comes together is with renewables for the most part, especially solar's. The sun is everywhere and one of the mis Deceptions is that it has to be in the sunniest locations. One of the earliest markets for solar was New Jersey, and New Jersey is not. I mean, you know the East Coast is not notorious for Sun. But it was the way that the regulated markets had rebates and incentivized to use state subsidies on top of federal tax credits, and that's really what made the the markets bubble. But but so the technology as far as solar, in my opinion, has streamlined. There's still some new. I keep getting flare-ups of old technology coming back around and maybe you know They'll be able to have breakthroughs. But solar plus was right. Solar Plus and it became storage batteries. That was the Holy Grail because it allowed for this additional four hour of production, consumption and dynamic. That really inked more value in these projects, and I still I mean so.
Speaker 2:In the 2000s you had Aubrey McLindon was up here with backing a Clean Skies initiative that Chesapeake had to try to build awareness of how clean natural gas was, and it was fascinating at the time, because you talk about these two polarized sites and I remember going okay, you're an electric utility, you produce a lot of power with natural gas, power with coal, now power with the renewables, so they were more neutral but it wasn't pressured onto them, right?
Speaker 2:If your job is to provide affordable, reliable power and there's one resource that is deemed dirty or than the others, but the others causing a huge headache because all your customers are talking about it, you start to get more opinionated. But I think a lot of this dates back a long time ago to different administrations leading the rhetoric with who killed the electric car. There were, Reagan, had different incentives. Everybody's got an energy agenda, but with oil and gas those resources aren't abundant everywhere, right, I mean. So there's just certain just regions and parts of the country that tend to align with the same political, I think, perspective that potentially all have maybe a more pro-corporate capital markets view on business versus a pro-government, and so I just think that those two things align. But back to when I would go in to the lion's den as the solar girl from DC.
Speaker 2:I at least had Texas Like so on and on right.
Speaker 1:That's gotta be a tough match to wear.
Speaker 2:It still is. It still is. I mean, a lot has changed in 20 years, but a lot hasn't. But the point was is I mean I didn't have a bone to pick with any of it at all Like tell me why. I mean, you're right, there are a lot of subsidies, these are your tax credit dollars and you don't believe that this is the right use of your tax credit dollar, like your taxes, your tax dollars, right? So I mean, I hear solar doesn't work 24 hours a day. You're right, the sun goes down, right, I mean. And it is expensive, you're right. And then all of a sudden it's like well, what are we arguing about? Nothing, like let's have another drink. I mean, I think it's just trying to influence and change opinion when it's like I'm not here to change your opinion. I think everything you said is right. However, would solar work out in the Permian right? Could it provide enough power for certain type of equipment, or?
Speaker 2:could it be a better solution than trying to wait to get a distribution line connected from the utility out in the middle of nowhere. It's like maybe, but maybe not. It depends on how much power I need for how long, right, and so I think that that's been kind of the most eye-opening where in the last 10 years. So in 2013, we moved back to Texas. I was pregnant with my second and it saw similarities to how the utility business was dealing with this renewable growth to oil and gas and what was not necessary. It wasn't. So renewables aren't threatening to oil and gas, it's just it makes you defensive because anytime you're out there working hard, providing for your family, doing what you believe is truly adding to and we know this to America as a country and your local community, and you're deemed dirty.
Speaker 1:I mean it's just. I mean, I think, that that's.
Speaker 2:it's tough, and what the solar panel made from China is cleaner than me. So I kicked off my consulting business with an energy fund out of Dallas that really brought me in to answer questions that their LPs were asking about how to make money in renewables. They were out in Norway and they had a mandate to invest beyond oil and gas, not instead of right, so this is pre-devesting of oil and gas, and so it was interesting to look at the returns at that point in time of their oil and gas assets and the renewable asset. You know those financial models and how to make money in this space, and so we worked with them and a couple of other firms. And then back to starting your own business, and you know this. It's just continuing to try to turn over rocks, to get new traction and new ideas and new interest, and it's really led to what has been a high level I'd say cheat sheet to answering questions about new areas in the energy business. I love that.
Speaker 1:So let's talk about that. Let's talk about kind of like you stepping, not stepping back, kind of stepping forward and starting your starting novos. Talk to me about kind of that journey and what was the initial, I guess, what was the initial vision and kind of what's evolved since then. Where are you all on today?
Speaker 2:Well, I mean so I genuinely still have this passion for energy, and I don't know where it comes from, but it is truly just an area that I find is pretty black and white, easier to solve than a lot of these other big issues. But you know, at the time we had moved to Texas and I was then, after I had my daughter, very quickly pregnant with my third, and so you know, I had slowed down on my working. I wanted to be home with the kids and doing that, but my brain was just craving this knowledge, and it was 2015, right.
Speaker 2:And so prior to that, I had reconnected with my dad. He had brought me into a lot of this investment and of the projects that he had in the midstream space and service space, and then I watched this industry go just down right, and I was just it was just unbelievable because for the first time as an adult, a mature adult, I could really feel what my neighbors were experiencing and, I'm sure, what my father experienced all those years before.
Speaker 1:Yeah, yep.
Speaker 2:And so I just wanted to help and it sounds so trivial, but I just was like how can you help provide more information about these new, growing, booming energy markets to-.
Speaker 2:Right you know, executives, that they don't want to make layoffs. I mean, you know, no one wants to go and have to shut down any operations or curtail. I mean so, and that's where it really started was. You know, I wanted to stay busy. It's just in my nature. I can't, you know, put it down. And then from there we moved quickly back to DC. So, and I found this niche where it was like I was in the right location to follow how policy and regulation was really impacting the energy business, but I truly understood how it impacted it, right, so that-.
Speaker 1:So before that you were really involved in the kind of the energy policy regulation side of things and I guess this kind of through the education of helping these executives or helping people understand these new emerging markets. You kind of have to get tied into the regulation, energy policy side of things.
Speaker 2:Well, yeah, and I mean I think that we look at it as you know, there's kind of three buckets. It's like that drives these industries. You have the markets right and just the dynamics of those markets, and then you have technology. So there's, you know, when we started it was very much renewable, traditional renewables. Now we working on direct air capture projects, a couple of capture point source capture projects in Louisiana and Arkansas with another client, and then we wrapped up a big public pipeline companies and have just strategy of their renewable exploration. I would say and so you know, we've found ways to go beyond what is just your traditional renewable power. And then with that it's who then are we gonna work with Right? So when you and I started, there's a comfort level of knowing who you can trust.
Speaker 2:You're gonna get good deals from good technology. I mean, renewables are these? It's all over the US. It's like, where do you even begin? And so you know I always I have a lot of true, tried and trusted. You know people I've known in the business for a long time that have gone from traditional solar to electric vehicle charging to storage and so from there I'm like I just try to steer people in the right direction Executives to say, well, if you're gonna look into this further, here's a handful of companies that are worth considering talking to. And so from that it's just it's kept the lights on. It definitely provides a lot of intrigue and interest.
Speaker 1:I'm sure starting your business and running your own company is very stress free and anxiety less. So, okay, so those that are outside of DC or those that kind of made it to and for the first time and all that stuff you briefly mentioned, kind of no, but it's got to do with the cheat sheet, right? So, if you don't mind, kind of talking about kind of like who y'all serve and kind of what y'all, what y'all. I mean you were talking about a little bit, but I would say, give us an elevator summary on kind of like what y'all do, who y'all serve, and kind of, if someone's out there, like, what education or services do you provide?
Speaker 2:Y'all could provide Well and JP, you were saying, I mean, this is where it gets tough, right, because the elevator speech is largely bridging traditional energy markets with these new emerging opportunities, and so we stop at where your expertise ends. I mean, so why don't, we, don't come in and try to claim to know all the ins and outs of the geological formations and what makes exploration successful. But we will say, under that, look at it from another lens, right? So if operators are kind of trying to make sense of the new regulation around methane and-.
Speaker 1:Which has been a big topic these days.
Speaker 2:yes, it's huge and so just helping them understand, okay. Well, what is it? What's the cost for you as an operator to go in and address the issue versus the penalty, right? Or is there an opportunity to look at new ways to monetize positions that you already have with new technologies? So that's a. It's a very general sense of saying it covers the regulation. We cover the new technologies that are emerging. You know we've gotten a lot of questions on geothermal lately and trying to help.
Speaker 2:You know, understand power markets and you know what can and make new technologies that have really not. They're not that new, it's just size and scale. That, you know, is what's critical for takeoff. And then every one of our clients is not in DC. So you know, if you have a government affairs representative like even the big public companies, like you'd be surprised how few have they depend on their trade associations here.
Speaker 2:So we're just another line and viewpoint to say, okay, I know this sounds like noise down in Houston, but you really might want to pay attention to this because it's trickling upstream in a way that is really going to impact, not today, not, you know, next year, but, like 2030, decisions that you're in the boardroom trying to make, that were recommended and I do think it's changed and evolved and I don't know if it's the political attention that all of these candidates are getting through more media attention but it certainly seems like there's a lot more focus on DC.
Speaker 1:All right, so one thing is I agree 100% At our crew club events regulation. I mean, you know we've had topics of you know what's the operation, biggest challenges, yada, yada. It seems like everything's coming back to regulation. It seems like regulation is taking more of the center stage in a lot of discussions and kind of what you were saying. It's like, hey, you either you pay a penalty of a reaction or you get defensive and you actually understand what's coming down the pipeline and actually pay attention to kind of the detail that you need to know. So I kind of want to listen. There's a lot of stuff going on right now in the market. I want to kind of dive into some current events real quick. But I do want to talk about you know part of the exec group plug about this, about building your business and kind of growing your business, kind of as a founder. You know, talk to me about kind of when you are grown, you are expanding and you are. What's your strategy, I guess, when you are, I guess grown your business.
Speaker 1:I mean, there is a lot different areas to kind of focus on or that you could go down. What do you look at, I guess, as a founder?
Speaker 2:Well, I mean, I would say I have been very, you know, lucky to have a handful of very seasoned, experienced executives that I lean on a lot and you know most of them are oil and gas industry founders of their own businesses. They've seen a lot. I listen and I think and I truly you know everything that they have shared as far as what you need to be successful and the true grit of persistence and how are you gonna make money? It's great you want to help people, emily, but is this a helping charity?
Speaker 1:or are we making?
Speaker 2:money, Right, and so I mean and you know I'm a single mom of three and I very much of this is, you know, driven by I'm hungry, you know, and to provide for my family, and they know that, they appreciate that and they steer me back to okay, like then, this is a focus area. So the challenge I have is there's so much that I want to do and there's so many different avenues to go, and but we've found this sweet spot in where our clients find a lot of value and access to information, but also just a sounding board and then to be steered in the same way as our advisors are for us. We advise them and so growing your business is exhausting, right, I mean. But it's also incredible and my kids have seen it, you know, through the pandemic.
Speaker 2:It was really hard and you know, I just think that I haven't been an employee of someone else since 2012. And my dad was independent. I mean, I don't know how he did it. He just went out on his own and he put deals together and he inspires me every day because he put my sister and I through Vanderbilt and allowed, you know, my mother to be able to stay home with us, and it's a lot of pressure, but it's also incredibly rewarding. And but you you know you got to take the hits right, Like it's just that's the tough part.
Speaker 1:So, as a single mom of three, obviously you know your brain is working, it's always thinking. You know I'm kind of in the same boat with a constant brain going all the stuff. How do you kind of I mean I guess it's kind of a tip and trick out there for either a mother or father out there that are kind of leading and trying to grow a business but I mean, how do you handle that balance where you can actually spend time quality time with you know children, but also kind of lead the charge and growing a business?
Speaker 2:I mean I don't know if it is part of just the way that my brain is just constantly moving in multiple directions at one time, and I do think that you know. I mean for me it has become. The family life has been recently more complex. But you know, those early days with babies, it's unpredictable, right. Even early days in marriage it's unpredictable. I mean, business to me was like you get up, yeah, it's a little predictable. You know you can hedge it. There's going to be ways to try to say, okay, do I want to go full steam? You know what does a good year look like? What does a good month look like?
Speaker 2:I have an incredible business partner. She and I worked together in our 2000s. She's in Richmond and we, you know, having that person in your life that is a friend but also very much compatible and looking out for your best interests, like it's just invaluable. But along those lines, I mean, you know, I think that it's there's the constant battle of could I go in house, right, or but to balance where my kids are at 12, 10 and eight, I am motivated every single day to keep doing what I'm doing so that I can be there for them. And you know, and they know, I mean, and they've just gotten used to it that it's when these calls happen, when you know work is there, but they also know that they come first and so and it's amazing how many, if you're authentic and open about it, I mean people understand they have families too.
Speaker 1:Yeah, yeah, 100%, all right. So there's a couple of key subjects going on right now. It's a couple of current events.
Speaker 2:All right.
Speaker 1:How do you want to do this? Do you want to kind of give what's going on, what intentionally needs to people out there and what to do about it? I mean, how do you want to structure this?
Speaker 2:Well, I mean, I know, go from family to LNG exports and you know, I mean, but this is truly, it's how my brain works.
Speaker 2:I mean, I geek out about energy all the time. It's ridiculous, and and I get called out on it too, because you know, it's a lot of areas that I know enough about to know that they're important to watch, and then also that there's some really, really, really critical experts that know a lot more than I do. But I think this LNG export pause that happened two weeks ago and really was kind of surfacing while we were in Houston at Nate, I kept asking around about what you know, what those thought about, like how this was going to impact them and, and I think then it didn't necessarily have the legs that it does now. And I, you know, I think it's interesting to set the context, for we, as a country, plan to double LNG export facilities by 2030 to two just last year, double the number that we had in the US to meet this new demand, to meet, you know, what was providing our natural resource that we had abundant here in the US, two countries like Ukraine, like Europe, that wanted to reduce their reliance on other countries that weren't playing nice Right.
Speaker 2:So, you know, I think what's been fascinating was all of last year was all about energy security, and then you had the IRA pass. I genuinely thought that energy might have been a little bit off the table for this political cycle, and this LNG export focus has put everything back on what has been going to. I mean so, essentially, any, any LNG export facility that has already been in process is going to be able to move forward, but it's under review and so you know, the ones that you've heard about that are approved and being built. That's kind of a subset to this is what we were looking at to those that are five years out.
Speaker 2:Well, you only have like seven years to get your permitting through for one of these facilities. And under the DOE review, they're trying to review a number of different things and this isn't abnormal, but what it has done is it just created this. There was a huge momentum as to what we were trying to do as a country right and meet this demand and be, you know, using what we have as these natural resources in our country which we don't have. All right, there's a lot of criticism to this electrification and those resources that we have to import, and so we were kind of ramping up.
Speaker 2:And then now to have this stall, whether it be political or or not, and you're, you know, you're hearing a lot about it in DC it's, it's a delay and a pause scares investors, it it scares capital markets. It scares, like any, you know, allies that would be hoping that they could plan on this right, so, and so I think that alone. But then it's not just the facilities. If you think that about those that were the midstream companies projecting like, okay, we have, you know, 10% of our EBITDA coming from LNG exports and then we're going to see that as a growth opportunity over the next 10 years, we have to go reevaluate that. The producers.
Speaker 2:It essentially goes upstream, and whether you believe that you know this is going to have. There's two perspectives. One is that you know we are supporting countries with our resources and their economies that may or may not be the best use of what we would be better used in America, right, so so keep it. Here is essentially one perspective. But the point is, and the other perspective is, well, but I mean, the economic value of can't we do both right and and? And it's curtailing production of what you could be ramping up to say, okay, we can meet these you know contracts and customers abroad, and then we can also, you know, can we ramp up production here? So you have the upstream producers that have to look at that too to say, well, I mean, where's it going to go and who's it going to go to and how green does it have to be? So it looks like it's a evaluation of the impact on kind of the resources as a, as a fuel, and kind of the impact on climate. But it's more of this geopolitical dynamic happening of you know, are we going to export? Do we have enough here for, you know, to keep the prices where it is, and is it going to strain supply? So I think that's huge.
Speaker 2:And then, along those lines, you have this way waste emissions fee that the EPA has been trying to rule out more defined language as to what that's going to mean, and you know this was kind of background and part of the Inflation Reduction Act was a methane fee.
Speaker 2:So the first penalty that ultimately, what I have heard and talking to those that were at API and in the big corporations was, you know, more moderate than what they had expected.
Speaker 2:And so the big majors are have known this is coming for a while. The smaller operators, I think, are the ones that are, you know it's to be determined how they're going to be impacted and what's going to be required, because the thresholds don't aligned and the language, shockingly, wasn't written very clearly. So there's a window right now that the EPA is getting pressure from what you and I had said, you know, to move faster and to the clarity around this new penalty. But it's not coming from the environmentalist. So it, you know, last week's hearing with the EPA had families, mothers that were up in the Midwest talking about the air quality and the impact on the health of their children growing up around these production facilities that are emitting too much methane. It's not directly connected, we can't say for sure, but asthma is starting to get pulled in, and that alone just I mean, jp, you can open that up.
Speaker 2:Yeah, you bring moms and kids and health in. Like this is is maybe slow rolling out, but it'll get there and it's going to come. So I mean planning for it and just knowing that. I compare it to. You know there was a period of time with restaurants where they didn't have to recycle and they you know what did they do with their food. Waste Like this is a waste product of producing a widget that you know we need to address and there's solutions to address it, but now there's a value proposition and motivation to address it.
Speaker 1:How do people stay on top of all that? Because the regulations aren't clear. It might affect these people. It might not be too threshold, but it could affect it. I mean, how do people stay on top of like everything about the emissions that's going to affect everyone pretty much?
Speaker 2:Well, I mean, you have to say federal policy is a big black hole that ultimately gets clarified, and then how does it end up impacting your day-to-day business operations and how great is the penalty right? So I mean, I think that that's the most important piece that we dig into and look at. These are just mathematical kind of hedges on. You are going to have to report out to the EPA a certain amount of required emissions that you have had to for many years as an operator or transporter.
Speaker 2:They're realizing that those were maybe less than what is really being emitted, because now you have new leak and detection and drones identifying new areas, Satellites, I mean, they're there, Technology is finding its way. And then you say, okay, so it looks like it's going to be up to X for me as an operator on this annual basis moving forward. So once it gets defined, it will be defined. You just have to hedge Is it going to be six months, Is it going to be 12 months? Right, and like, how far back is the legal process going to go? But with that said, you have election years. So then you have to think, okay, what could have changed the administration? Do for this methane fee? The methane fee, the waste emissions, it's not going away. There's a lot of talk about the IRA and the house is going to repeal it. This is like Obamacare trying to repeal Obamacare you can try, but there's so much that's already gone into what has made it all pencil.
Speaker 2:It's done. What could change and what you would want to look at is, if you look at the difference in the Clean Air Act and what different administrations require as far as the reporting threshold for emissions, what is acceptable and what's not acceptable. It's like a bubble that keeps going back and forth and gets skinnier with less requirements under typical Republican and it gets larger under. But if it's going to be that pendulum every four years, I just kind of say don't gain all the weight, right. I mean, just plan for what you know. And there's a value to capital markets now in being a cleaner operator. And it's interesting because it's almost as if these corporations and companies are trying getting in front of leading regulation. And I hope they do, because it allows the industry to truly what do they say? Walk the talk and define it, market yourself better. We did a great job in solar. By solar I mean everybody is solar, plus solar and storage. I'm like why didn't it just come back?
Speaker 1:Oil and gas is a horrible job of reintroducing who we are as an industry, and shame on the oil and gas industry for that. I mean, this is kind of a platform that a lot of people have. I mean, you're talking about it right now. It's like shame on us. I mean it's we should be doing something. We should be doing. Okay, let's do something.
Speaker 2:Well, I mean good old boys don't feel? I mean it's interesting because I think that there's a new momentum. I mean, and you can see a lot of some of the, I'd say, below the majors, let the majors take the hits, right, you've got them to have tackle a whole different volume. But if you have truly pure operators that are being more transparent and what their goals are and are saying look, we have a goal, we're working towards the goal. Maybe you don't think it's aggressive enough, but we have a plan. It's come a long way in two years, when it was just 2050, net zero, right, I mean now there's a lot of, even the World Bank, because this is zero flaring by 2030. I mean, 2030 is only six years.
Speaker 1:It's not that long away. Yeah, I know right.
Speaker 2:So I mean business is changing and I think that they're reacting to it. So it's. You know, I just you can't shut down the rhetoric against it, but I mean I think that it's starting to evolve and happen and hopefully, with time it'll catch on.
Speaker 1:Are you optimistic? Pessimistic and different? Just ride the way. Where are you? At when it comes to kind of the energy space, the domestic energy space and the near future.
Speaker 2:I mean I don't know that I have enough of a context for that, just because I mean you know my business thrives on political chaos, right. I mean I mean I just think you know that, with anything it is, you know what the next five years looks like is kind of the sweet spot to focus on. And five years ago, right, think about, we were pre-pandemic, so a lot can happen in that period of time right.
Speaker 2:I have all confidence that this industry will thrive in America, for, you know, my children's future and their children's future, and that you know we will take the resources that are below the ground and above the ground to create really innovative solutions to a more secure system than we had in the 90s. I mean, if you look back on it's fascinating. I was just looking at kind of the history of the beginning of when, you know, oil was discovered in the US truly to provide kerosene, and then it was another innovative cycle and then it provided cars, and then it was like and then we started refining products and making things for World War II. I mean it's amazing when you actually start to look at, okay, then it was really messy, right, I mean, and we've cleaned it up, we continue to, and then now you have all these ways to optimize operations.
Speaker 2:I mean I was at a in Midland at this big barbecue cookoff that I won't name names, that I was looking at fracking equipment, and keep in mind the way that I walk around looking at fracking equipment or oil and gas equipment is probably the way you all would walk into a renewable hall. I mean there was equipment that literally looked like an octopus. I mean I couldn't figure out what in the world this was. I'm just going. I mean this is not what I thought old school oil and gas was right.
Speaker 2:And there was another service company that had a solar. You know they had solar powering their generator powering this. I mean, it is blending, it's emerging, it's coming. And I think that the demand is certainly not going away. So you know, I think there's a lot to look forward to.
Speaker 1:So how could people? What are we not touching on that you want to go over right now? What?
Speaker 2:are we not?
Speaker 1:touching on.
Speaker 2:Well, I do want to say, you know, I found you Because I think what you're doing is, you know, really interesting and bringing you know. What I think is going to be impacted by a lot of the pressure to reduce emissions is less networking. You know less flying, less travel and it's harder to engage and interact, and so I applaud you for that and what you know. You found this niche and pulling executives together. I also think that you and I talked a little bit about you know me being a female and you have a lot of you know, a lot of male interest in your business and how those two dynamics emerge. I look forward to exploring even further with you and then, you know, I just I encourage you know you and those that listen to, you know these podcasts and that you talk to, to just keep listening and learning and asking, because you know the more that you know, the more informed you're going to be about everything that's going on and where the growth potential is for you as a professional and your business.
Speaker 1:I mean that's the thing I mean, you know, when it comes to like networking and like connecting with people. I mean there's so much to. I mean, you know, in a historic way, now we're going to pass business cards up and there's so much information to be gained, you know, there's so much knowledge to be shared and to me it's like it's fascinating everything that is out there, and I think far too often people kind of get comfortable on their computers, digest the information that's presented to them versus having these discussions, and I think that's so important. When it comes to policy, when it comes to regulation, this is kind of the first year, or you know the first year that before I thought energy policy I don't want to deal with that, that's politics. I want to deal with that.
Speaker 1:However, it's kind of creeping in to be more of a again center stage and it is something that's important for people to discuss, it is important for people to talk about around the table. So I appreciate that and, yeah, I think again, I think I want to. I do want to close that as you know, kind of you know, as you know what would start your own company and all that stuff. What advice would you have out there for younger females who maybe want to take on the same kind of path that you're doing and kind of branch out and kind of lead your own way.
Speaker 2:I mean you know, lean on those that you know you can trust and provide sound and honest and direct advice. I mean, you know, I have a lot of sounding boards that say what I don't want to hear.
Speaker 2:And then and then you know, I do think it's just a matter of finding a niche and figuring out how to surround yourself with people who have compatible and you know supportive strengths and areas, and admitting and being very humble about where your strengths aren't and appreciative of where others are, and then from there, whether it's starting your own business or being a better part of a team or, you know, really appreciating the leadership and acknowledging and communicating. It's pretty. You know simple human characteristics that I think make you a good employee, but I do think that you know showing up and truly working hard is it takes the effort and so put it in.
Speaker 1:You said it. You said it. The word grit keeps on resurfacing a lot of conversations right now and you said that. You said that fast. Hey, I want to thank you for your time. I really love kind of getting your perspective on things and kind of where things are going, and I think a lot of people here probably do as well too. I'm looking forward to kind of continue our conversations as well, and so people want to get out there, want to get in touch with you and kind of find out, learn out more what y'all do and all that stuff. I'm obviously going to click the link or something. People are in the car, they're in the gym right now. How can people contact you and your team and kind of in what situation would they want to contact y'all?
Speaker 2:No, anything, jp, Call me anytime. No, I mean, you can go. Linkedin is, honestly, the easiest way to find me. So you know, just by looking up Emily easily. Novas Energy Advisors is a brand that we were lucky enough to have some executives help us Launch, but Novas means new in Latin, and it's important because you know we're always looking at new energy solutions. So thank you, jp, and we'll circle back because it's definitely going to be an interesting and active year in this policy arena.
Speaker 1:It's going to be interesting and active. That's the best way to put it. That's the best way to put it. I'm excited to kind of see what happens. Absolutely, it's going to be a story.
Speaker 1:So hey, thank you so much for your time and I want to thank everyone out there for tuning in again. If you want to contact Emily, reach out to her and again, if you join this podcast, talk about it, get involved, communicate, talk to people, share your knowledge, share your. You don't need opinions on everything you know. It's okay to learn about something without having an opinion. That's what I said. All right y'all. Thank you so much. We'll talk to you soon, thank you.