In this sequel, a review of facts in the world of energy, to be differentiated from what is often reported (and not reported): the political dimension, the supply and demand picture, and Texas Pacific Land Trust.  Slides to accompany this audio are accessible here: Slides 1 and 2: The Royalty Business Model – time stamp: 22:40, Slide 3: The Permian Basin – time stamp 25:35, Slide 4: Global Oil Supply/Demand – time stamp: 30:50, Slide 5: Oil Futures Curve – time stamp: 39:07.

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