Jay Young, CEO of King Operating Corporation

An interview with our man Jay Young, president of and founder of King Operating Corporation, oil and gas operator and investment firm in Dallas, Texas. He's been on before. And one of the things that we're talking about is the US Strategic Petroleum Reserve and the energy situation that we have. We don't just have, um, high oil and gas prices. We have potential shortages in the offing, and Jay Young is with us to talk about that. Jay, welcome back to The Bob Codaro Show. How are you, my friend?

Hey, I'm doing great, Bob. How you doing?

Good, good. We got all kinds of technical issues, but, uh, we're, we're gonna fight our way through it. We finally did get the phones to work, so that's a good thing. Uh, all right, Jay, tell me. Give me, give me the story.

Well, I'll tell you what, Bob. We're, we're shutting in a lot of wells right now in the, in the Gulf. And when you do that, you're having a lot of disruption. When you have disruption, prices are gonna go up, and that's exactly what's happening right now in the Gulf. I mean, not only do we have all the problems that we've had in the last, you know, since, since January, uh, with, with oil production and going off, but now you have something else going on, which is the hurricane. They're shutting in over a million barrels of oil, uh, which is, uh, obviously not good. And, uh, you know, oil prices, it's, it's gonna cost you at the pump.

Well, all right, so h- I mean, part of that's baked into the cake, isn't it? I mean, it's not like this is the... This has actually been an incredibly light hurricane season. Uh, this one's hitting, and, uh, uh, it doesn't even seem to be as severe as some of the ones that hit the west coast of Florida in the past, but talk to me.

Yeah. Well, it's true. Um, uh, right now we're... Everything's just so tight. Uh, you know, there, there, the, the Strait of Hormuz going on. You have the, um, you know, the strategic reserves that, that, y- you know, have already been... Inventories are so tight. Nobody has any extra oil, and that's the, that's the biggest problem, is all these countries around the world have shut in. And, and, um, you know, with, with what's been going on, you know, the previous few months, so everything's just so tight. And when you have inventories that are this tight this long, you know, yeah, baked in would be great, and they are prepared for it, and it's not like we don't expect it. Um, and it's been less, but you still have the, the inventories that are, that are just not there.

Yeah.

And, uh, that's what's going on right now, and we're just gonna have a little bit more, um, um... Hopefully it doesn't continue.

Gosh.

Hope, hopefully this is all-

Man

... we don't have a big, we don't have big challenges with this because if, um, if it does, it's just not, not good. Like I said, inventories are so tight, we just need to, we just, we just need to get back to n- uh, normal. And I know we've talked about that before.

Yeah.

But what's normal?

Jay Young is our guest. He's the, uh, founder and CEO of King Operating Corporation, oil and gas operator out of, and investor out of Dallas, Texas. Uh, let's, let's talk about that. I mean, one of the problems that, that