Family Legacy: Passing Down Business Values To The Next Generation

Majority of children who have seen their parents and grandparents succeed at work are more inclined to follow their footsteps. On their own, they desire to make their own mark in the industries where their relatives thrived.

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Perhaps one of the most important values grandparents and parents can pass on when it comes to business is good financial stewardship. In running a business or in handling investments, financial stability can be achieved by being good managers of resources. Teaching them how to make good financial decisions can be useful especially for those who desire to start their own ventures. Being open even about the challenging times will prepare them to face their own money matters later on. A parent’s spending, saving, and investing habits will help their children understand the true value of money.

Aside from becoming good stewards of finances, the younger generation can develop a good work ethic through the influence of their elders. Compared to later generations, baby boomers are more dedicated in taking the time to learn new skills. This is something that younger generations are no longer interested in. However, developing patience and teaching them the value of hard work will prepare them for the challenges they might face when they are on their own.

Finally, professional communication skills must be taught to the younger generation. In the era of instant messaging and emojis, the value of a clear message is still as important. Sadly, younger leaders often fail in this aspect. Communicating with respect and with clarity regardless of the means is a timeless value that should be adopted by business professionals. Whether in speaking, listening, or writing, valuing other people can definitely improve the quality of work and relationships in business.

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Passing down the best practices in business can help a young professional carve his own niche in the industry. By having great influencers, a person will be able to better handle failures and successes that will shape his career.

Cody Winters has been inspired by his grandfather to enter the oil and gas industry. Through the years, he has been helping other operators and investors accomplish their financial goals. For updates, visit this page.

Global Oil Production Projected To Boom Despite Opec’s Cut

It seems the global crude-oil production will be on the rise on 2018, and it’s not only because of the output of the United States. The 14 member-countries of the Organization of the Petroleum Exporting Countries (OPEC) have made a deal with several non-members on December 2016 to cut production by 1.8 million barrels per day.

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After the OPEC reached an agreement with non-OPEC oil producers for an extended oil production cut until March 2018, compliance to the pact is not as strict as expected. Russia has recently expressed its concerns about its loss of market share in oil to the United States as President Donald Trump has decided to pull U.S. out of the Paris Agreement. This move by the U.S. could help ease limitations and restrictions on its local fuel sector, which can equate to bigger oil production. And just recently, three Persian Gulf countries have cut ties with Qatar. OPEC also changed its exemptions for Nigeria and Libya as they struggled with internal conflict. Royal Dutch Shell has just lifted force majeure on Nigeria’s Forcados crude, as the country only exports online—the first time in 16 months. Libya has also recently hit its highest oil production even with the brief shutdown of the country’s biggest oilfield, Sharara.

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Even with the cut from OPEC, member-countries are looking for ways to boost their oil industries. After all, even barrels from the U.S. are looking for consumers in Asia and Europe. This dynamic change points out the need for a better resolution from OPEC.

For more about the oil and gas industry, follow this Cody Winters Twitter page.

The Impact Fossil Fuel Has Had On Economics

It is not an exaggeration to state that the oil and gas industry has a major impact on how the world operates. Despite all the talks about the imminent decline of the market, trends still suggest that the industry is still relevant today. Current statistics show that oil accounts for around 33 percent of all the world’s energy. With more people living longer, there is a pressing need for societies to have power. This has driven oil consumption to almost mind-boggling levels. Industry experts suggest that energy can be argued as the primary reason for globalization. Without it, current technologies would not exist. Yet this is a far-reaching statement; one that is perhaps too big a concept to grasp. To better explain the practical and perhaps, direct, impacts fossil fuel and oil have had on society, experts have listed a few examples.

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A booming transportation industry: Considered the keystone to any logistical network, transportation plays a vital role in economics. What drives these trucks, cars, and other vehicles is derivates of gasoline and diesel fuel. With more companies operating on a global scale, more transportation vehicles need to be made. Even with other forms of alternative energy cars, gas and oil will still be needed to operate other parts of the transportation sector.

83 percent of the world has just begun to consume oil: Westerners have a hard time understanding this, but the truth of the matter is, much of the world has only now begun using oil. The growing market in oil consumption means dramatic shifts in not only their local economies but how international policies will play as well.

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Lastly, one cannot talk about economics and fuel consumption without referring to the price inelasticity of demand. There is an assumption that completely removing oil production will improve environmental conditions. People often confuse alternative forms of energy like solar and wind (which is used for electricity) with fuel consumption (which is used for transportation and gas). There is still no significant substitute to the oil market, and improving extraction technologies also imply fewer carbon emissions from existing refineries.

As a successful oil and gas industry entrepreneur, Cody Winters is on a mission to educate fellow investors and operators about the many facets of this lucrative and important industry. Learn more when you follow this Twitter account.

Oklahoma: Brimming With Oil And Gas Investment Opportunities

According to Fraser Institute, a Vancouver-based think tank’s, Global Petroleum Survey in December 2016, Oklahoma was considered the most attractive place for oil and gas investment.

The study considered several factors that act as barriers to investing in the region, including “high tax rates, costly regulatory demands, political stability, and uncertainty over potential environmental regulations.” Numerous executives in the industry were the respondents.

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The oil and gas industry is showing a decline all over the world. But places like Oklahoma are showing that there is still confidence in the sector, which can boost the growth of and promote investment in the industry.

There are various reasons that Oklahoma is an economically and politically conducive state for oil and gas investment. For one, it is one of the top five in the list of most productive oil- and natural gas-producing states. Four percent of the total U.S. crude oil production is derived from the state, while seven to 8 percent of the country’s marketed natural gas production comes from the Oklahoma.

Another is the abundance of shale formations within state borders. The 3,300-square-mile Ardmore-Woodford formation alone holds 400 million barrels of recoverable petroleum. Operators also have their eyes set on the Mississippian Line formation because of the potential amount of recoverable reserves in the region.

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The use of modern drilling technologies, namely, fracking and horizontal drilling technologies, has also made its way to the state. This provides a more efficient alternative to traditional methods primarily used in Oklahoma.

Cody Winters considers his Oklahoma roots and desire to follow in the footsteps of his grandfather as few of his primary reasons for entering the oil and gas industry. For more articles about the industry, visit this blog.

Fit for the Fight: The Gracie Diet

A lot of athletes and self-confessed health buffs are crazy over diets. But most of these turn out to be fads, and are often impractical for athletes.

The Gracie diet is a product of decades of research and experimentation. It is no ordinary diet, as it values nutrition and physical performance. It is great for athletes and people who just want to get fit.
The Gracie diet was produced by none other than Master Carlos Gracie—the first Gracie who practiced jiu-jitsu. It took Master Carlos decades to complete his research. Although he was not a licensed nutritionist, he knew that Jiu-jitsu players needed a good diet in order to perform well in the sport.

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People who practice the Gracie diet won’t have to give up meat and starches in order to perform better. It’s about eating combinations. It does not restrict people to certain kinds of food, but it encourages eating different food groups in a meal.

The Gracie diet has classified six food groups: Group A (vegetables, seafoods, meats, fats and oily foods), Group B (sugar and other starches), Group C (fruits, cheeses), Group D (acidic fruits a.k.a citruses), Group E (raw banana), and Group F (milk). It is recommended to combine these food groups (at least A to D) equally in one meal.

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Aside from food combinations, the Gracie diet also recommends a day of fasting. Fasting allows the body to be cleansed of toxins. People who go for the Gracie diet also do not stuff their faces and stomach with too much food, and they are recommended to just eat until they are 80 percent full. Overstuffing is a no-no, because eating is meant to be a source of nourishment rather than indulgence.

Cody Winters is in the oil and gas business. In his spare time, he practices Brazilian Jiu-jitsu. Visit this blog for interesting articles about the sport.

Trends In The Oil And Gas Industry Worth Noting

Despite the inherent volatility of the oil and gas industry, analysts can forecast trends based on historical figures and the current political climate. Investors, then, are updated on the market. Listed below are a few trends to take note of this year:

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Sustainability through strategic liquidity: Oil companies are creating growth opportunities to battle threats to the industry’s sustainability. These come in many forms, but the most talked about is ensuring strategic liquidity. This means keeping tabs on financial growth, having contingency plans for refinancing, and expiring hedges, among other things. The emphasis here is keeping sustainable structures to reduce cost. These plans have its effects in the stock market, with smaller mutual funds having a higher risk of expiring at no return.

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Technological growth: The oil and gas industry is currently undergoing a major transition due to certain technological advances. Software have leveraged a major percentage of oil services, allowing suppliers to meet ever-increasing world demand. Moreover, technologies for further improving the industry remain in the pipeline and await testing prior to deployment.

Global partnerships: Deeper relationships among countries are projected to develop for the sake of oil supply. Current political events can hinder this, but oil is a depleting commodity. In order to maintain a level of global stability, international communications must be kept and managed. Several oil companies are already pushing towards this move, signing countries with independent suppliers across the world.

This year promises to be an exciting one for the industry, with more companies shifting gears to become more relevant in this modern society.

Cody Winters is a reputable expert in the oil and gas industry. Learn more about the industry when you subscribe to this YouTube channel.

China: A Giant Market Force In Global Energy

As an emerging economy, China posted the fastest economic growth in the past decades. Essential to that development is an energy resource to support its infrastructure plans and a booming manufacturing industry. Because of this, China had become the largest energy consumer and was expected to import more oil than the US by late 2013.

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The forecast looked bright until 2035, driving global demand and compelling exporters to increase capacity to profit from China's boom; but that came to an abrupt halt after 2013. While many experts had been anticipating China to peak before consumption declines, it happened a decade earlier than expected. The Chinese government had made a drastic revision to its economic structure that addresses the redundancy in energy resource production leading to a surplus capacity; the critical problem of smog and pollution in the country; its transition from energy-intensive industrial operations to a service and information-based economy; and accelerated efforts in moving toward renewable energy—China is already the world leader in wind and solar energy.

In absolute terms, global demand will continue to grow, especially with other emerging economies in the east, but China as the energy sector's most valuable customer has significantly contributed to the slowdown of the world market.

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Cody Winters is a seasoned businessman in the industry of oil and gas, with expertise in managing risk and investments for operators and investors. For more updates on the energy sector, subscribe here.