Transcript
Hell that spring in the air? I don't want to clip. How much, how much covid do you have in your house, right? Oh my God, 25% covid in my house. Wow, I guess the dog and cat 16.6% repeating. It's not bad. Yeah, live from an oily puddle. Yeah, it's very wet it's the ESG Industries. Only weakly Wok data podcast, featuring analyst Hall, Matt mascardi. Yeah. Yes that's me yeah he's greasy ESG gas bag called September 13th, 2023 oily, CEO exits. Oily fans, oily racist NFL owners. Oh and oil. Oily gross, dude, who can't be fired? And the great Paul Hutchinson from escapes. It's all really, why doesn't he get the oily? He's not that oily. He's normal oily. Our show. Tell you. Yeah, tell me about s cage. Our show today is being sponsored by ESG age. Your ESG Data Solutions provider. Paul from skh will be in the studio later to talk about women in the workforce. As promised in last week's installment, Paul Hudson. I love what he promises things. All right, let's do it. Let's get right. I feel like every week we've had a high-profile CEO exit to talk about but then again there's only like, you know, roughly 50 weeks in the year. There's like, at least, like we cover pretty regularly, like 800 of the world's biggest companies. So I, you know, someone's gonna retire, resign every week. I mean, it's inevitable. Yeah. It's right. Like, I thought he was out and, like, five year periods and there are roughly 1,000 non-controlled, large cap companies in the world. I just do the math, you're gonna get one a week, maybe we've just had some good one recently including this one. This is a headline. Buster BP, CEO Bernard Looney, Resigns over past relationships with colleagues. So, that sounds very blackmailing. so, the resignation Was a surprise. A company, the board? Didn't? They didn't know. This was coming. I think that's false also. Okay, the takeaway here is that Looney was not fully transparent about past personal relationships with colic. So the board investigated him in 2022. And according to the board he didn't really say everything. He may be should have said that there are new allegations coming up now and so Looney is sort of tiptoeing away. Yeah, well so that's part of the. This his resignation was a surprise but they were investigating him since 2022. They write they had conversations with him that suggested. Well what's the deal with this thing, right? Or that thing? And yeah, they clean. He did not breach a company called. I think the issue was a he didn't tell them everything. I think that's as simple as that. yeah, what they told, what he told them, they were okay with When you don't breach a company code of like some policy that they have probably some harassment policy or something like that. And yet that when the board is telling you know what you're doing is fine like we're just asking you some questions and you quit. What is that suggests? The board doesn't know as part of their current investigation that they're going to find out inevitably. Here's what I like. The so the board received further allegations and the last, you know, few weeks months, whatever, here's the quote. From BP's, press release. Mr. Looney has today, informed the company that he now accepts that he was not fully transparent in his previous discussion. What is that? I mean, it's like a very British kind way of calling him a liar, right? I mean he accepts All right, he previous to this, he did not accept the fact that he had things. But now he accepts that fact. Oh, it's like, it's like Born Again, transparency. Let's pull back for some bigger context here because it raises some questions about what's next at BP. But but let's not forget that. Looney has been facing a lot of critics so he started at BP promising the world, right? He was the true, he was the environmental savior. It was at a time when it was okay to do these things. It was okay to embrace the environment helping the that was like two or three years ago. Yeah, yeah. Like 10 minutes ago when the environment was cool but since then just like the new shell CEO, he has kind of been you know quiet about some of those promises despite the fact that BP announced record profits or at least they doubled their profits to 28 billion dollars. So and he's so, you know, that's a little bit of the bigger context here because it I wonder, you know, will the next CEO basically get rid of all that stuff just like the the new Chelsea CEO or is this have nothing to do with the story and he is literally walking away because he's a jerk. You know? I might so my read on it. First of all, he said that he would pair back all of this carbon e. All of his ship promises. Yeah. Right. He said he was actually not like their pairing back that knowing they're going to admit more and started like the line that everybody seems to be using today, which is, we really, really need the oil Knight in order to make the transition to a low carbon economy, we need to blow up more stuff, right? Like that's right that arguments that just handing out by bikes, we need the oil. So he said that already so I think it has nothing to do with any of that stuff. Like I don't think this, I think very squarely has to do with They he knows they're going to find something or something. Very embarrassing. Is going to become up or someone or did. Someone has information about him that he does not want? You anyone to know the quickest resolved here is rip the Band-Aid off resign disappear for six months. No one cares then because you're not the CEO and none of it has to come out. I think that's what's going on. Some other context that BP, there's been a recent history of kind of strange CEO transitions departures. So this is the first time the BP is screwed up in this regard. So back in 2007. Lord, John Brown. I don't know if you remember any of this. He stepped down. He resigned amid allegations about his romantic life i.e.the, fact, that he was gay and an alleged misuse of company funds. So, so this was a big tabloid story at the time. He went so far as to sue to prevent newspapers from revealing. His relationship. There were allegations that he that company, that company resources were diverted for the for his boyfriend and that, that Lord Brown had a tempted to evade taxes. There was all kinds of this was a crazy tabloid story. So he stepped down a year early and then Tony Hayward took over in 2007, in 2010, the deep water, Horizon oil, spill happened forcing Tony Hayward out because they put the blame right on him so there's well yeah, he well they He said one of the quotes after Deepwater Horizon was I I really feel badly that this happened and destroyed so many people's like, Holmes and Lively hoods. I would really love to just get back to my regular life. That's what he said at the time which I mean, yeah. True. But horrible. Now, if that would have happened, now, we're in the last, like five years. He would have been replaced by a woman. It was a perfect glass Cliff scenario, but they didn't really do that then. So he was replaced by, actually, a boring white, guy named Bob Dudley who kind of righted the ship. And then I think everyone got bored of Bob because his name is Bob Dudley. And he did what he had to do. And that's when Bernard Ludy came in, you know, all this breathing fire about how I was gonna, you know, turn to Renewables and blah blah blah. Here we are. So the CFO is taking over in the interim. His name is Murray aachen, Claus. I don't think I'm, I don't think that's the kind of name that can last a while at BP. But well, on the car, Lord, John Brown, Bob Dudley Bernard Looney, not if they're not gonna turn to know, come on. Like, you have to say, Murray. Akin Klaus while wearing a monocle. That's really like. The only way you can say his name. Now you have a bunch of information on BPD. Do you want to do that now or later? I'll give you the option. I'll we'll do my segment now. Let's do it. Let's do it. Let's go let's let's change the outline. This is showing how professional are we're gonna pivot in? We're gonna lean into your BP reporting. Let's go. All right, let's do this thing and I get the exciting music. Yeah, I get exciting music. Here's what's happening with BP's board, just told them. Oh, the board good about this. Um just with the board so you went through a little bit of History, I actually went back a little bit further because I needed to get a pattern. I want to predict to the next BP CEO. Yeah. Okay. This is your prediction alert and I'm gonna say before you even get to the picture. I have a few lingering questions will Is this a glass Cliff scenario, right? Yeah. Because the cleaning up a mess right? Or is this a opportunity to finally have someone who doesn't have a boring, you know, white person's name. I've had a lot of Bob Dudley types over the years. Yeah. Yeah. Or Southeast Asian, CEO? CEO Theory. Could this be good? Getting warmer. All right. Do we just get a, a guy from Texas with a, with a one of those dumb hats because we're gonna lean super into oil. Now, that would be. So, first of all, this is BP. Okay? Here's part of your clue in 1992. The CEO was Barren, David Simon, and in 1995. It was Lord, John Brown. Do you know what I'm saying? I'm 10 gallon hat, guys, not know, but not the moment. No, this is not the moment and anti-wolf wave for Lori Rodeo, Permian, Basin CEO to ride in and anti woke. The whole thing they were going to do the high class version of that. Okay. Do it right? Okay. But you mentioned all these CEOs. But what you didn't mention is that Baron David Simon was the Leo in 1992, made CEO 1992. He joined BP in. 1961. A life's first job. He was a lifer. Yeah. Lord, John Brown CEO in 1995 join BP in 1966. More importantly, what's better a baron or a Lord? Oh, man. Um, confusing. Because here, all right, let's hear the US Lord refer to Jesus Christ. So I think the Lord, what is better a Barren? Or a lord. Baron sounds like they have more money. Well, Trump named his son. Okay, so the Lord, I'm Lord. I'm gonna go with Baron is the winner. Okay, that's it. In 2017, Tony Hayward comes CEO. He joined BP, in 1982. Also his first job. Oh, are you seeing the pattern here? Yeah, in 2010. Bob Dudley Becomes CEO, as you mentioned, he had actually joined amoako in 1979 as his first job amoako was bought by BP, he left to become CEO of a Russian Oil Company came back in 2009. So he's effectively a BP life for with a stint at a Russian. Oil company. And in 2020 Bernard Looney joined BP, in 1991 he had joined BP. It was his first job, he was there throughout Lots, they only hire BP lifers. Wait Because Bernard Looney actually. His first job was that also had a mocha which was acquired by P and he just stayed throughout from loonies. News into the business plan here. A lord is a member of the Gentry and ranks below a Barren in a square. That is correct. There you go. That's because Trump would never name his son. All right. If it wasn't the higher thing and now we have Murray auction Claus in terms CEO. It was currently. Oh, right, who joined amoako? As his first job prior to them being acquired by BP. So another lifer, not another lifer, all the classes 11% he's currently on the board was on the board prior to being named interim CEO, which means he was a very well known entity to put his interim CEO. He had 11% of influence on the board he'd been on the board for a couple of years. The succession planning group is led by the people in governance committee which includes board chair. He'll go and a Paul Reynolds a, I think Tim Sawyer and Pamela Blanca. I believe her name, something like that. I I'm not actually looking at their first names. I have all their last names but what that means is these are the people who a should have known and did know about Looney and B. There, they have a whopping 44% of board influence nearly half of the board influences on the nominating committee. Okay, so whatever they choose is likely to be it, right? Again? Who's the chair of that committee? Held Lund is the chair of the board and sits on that committee which means there's no real point of anybody else being on that board because it's just gonna be his choice. Okay, we're getting to a prediction here. Here's the prediction. Yeah. If we use past patterns, you would pick someone who started their career at BP was a BP, effectively, a BP Leifer. UK royal title is performed but not required, well, but I'm thinking maybe it would be a maybe an Esquire. The lawyer that's not well in England. It's might be more than that. I'm all my also be a barista so just The history would suggest it is a white male of course. Unless you're going to purposely, do a two-year glass Cliff scenario. Okay, you're gonna go into this saying Sort of like you have to have a clean up glass Cliffs. It's kind of like the current prime minister Rishi sunak. He might sounds like he might not last that long, which is my prediction. Are you ready for this? I'm gonna give you a drum roll. The new age glass Clips CEO. It would seem like interim CEO Murray, Hawking, Claus, because he's white. Male knows. The board is a lifer. Yeah, he's a numbers nerd. He's numbers nerd. He also said, wind power is the new Upstream at one point, that's not in a knock against him. Canadian citizen. It's like a seemed like, he was a Player. No, but it's actually going to be One Dev Patel. Nope. Well, you got that wrong. There we go. It's gonna be our Devale. Yes, I think that's more purpose. I said, I said, it does tell us an actor. Yeah, death Patel is an actor and I I wish he was going to be the CEO, but it's gonna be Dev Sanyo. He is a Southeast Asian male. He's an he's born in India. He fits your CEO Theory replacement Theory. Sure. He had a 32 year career at BP, perfect prior to becoming CEO of varo energy in the last two years in his title at BP, he had both gas for the oil and gas. He really kind of thing and low carbon, which is now seems to be a something you say in your yes. Lord titles as like, extremely high carbon. Yeah. Nobody says. Hi carbon. You know, head of high carbon stock carbon and he was on the executive team as late as 2020 with almost the entire board current board. Yeah. And the entire nominating committee that that's going. This is perfect. They'll know him. Well, how to first of all, how did you find Dev? What where, how did you search? I went back through all of the filings over the last five years and I wanted to find life for BP people who are no longer at people that look like external hires. Yes. Preferably women or South East Asian male? Sure of course and Dev Sanyo was the one who popped? That was the one. This is an absolute no brainer arm. I'm on if it's not this person, so I was like the absolute perfect choice for BP in the next six months. They will announce Devon y'all as the, the incoming CEO of BP. He's already got the experience, he's been there. He looking we have your pick. It's Debbie we have your pick, we know and he's going to come in. Here's predict sub prediction. He's going to have less influence. Than hell Glenn. And current board member. He will be a low influence CEO because he's a Southeast Asian male. Glass, Cliffs, CEO. That's my prediction. Beautiful. Here we go, back to you with another VP. Let's get up here with oil. The theme of today's show is oil demand for all three. This is this is all happening in the same time frame rate. This happened yesterday, demand for all three major fossil fuels oil, coal and natural gas will Peak. This decade marking the beginning of the end of fossil fuels and historic turning point in the world's tradition toward renewable energy, according to the international and energy agency. Okay. This prediction suggests that current climate policies are helping to drive the transition away from fossil fuels and that stronger action on climate change. Could encourage a faster to clean and demand. The reason why I bring this up is this matte is that Up. Which is why I think your pick of Dev is a good pick and why my pick of a big Burly Texan man with one of those weird hats also good pick because now is the time you got seven years, basically to squeeze all the billions of profit to really go big oil and gas, right? Well, that's now they're gonna pretend like they have to do it. Now, they're gonna pretend we gotta burn oil to get to this transition. We got out, we gotta go for it, but we're literally going to like it if we accelerate Beyond business as usual in order to get well 2030, which they will Magic Make Believe line to say. That's the peak, right? And zero. So it's nice. The reason why I agree with the audience who was booing is Stop saying this decade, just say we peak oil needs to have passed. You need to be on the decline that's that. We each have to stop saying like, oh, we've got a little bit more time to burn the shit out of stuff. Yeah, no. We don't have more time. We need to be passed fecal. We need all of these CEOs to stop saying, oh because it's real profitable now and there's a war in Ukraine and I can come up with five reasons. We're going to sell a lot of it. It is we're going to privatize it and they're gonna burn shit anyway. It is not doing that. It isn't interesting moment though. This guy does come in with this very sort of pro ESG whatever you want to call it. Pro environmental promise, right? Bernard Looney came with a lot of fanfare, three years ago and now that we're turning back the other way. You know, like when you look at Shell, the new CEO basically, getting rid of all those environmental pledges, you do kind of have to wonder a little bit if the board was just like, we can do better. Let's use some of the, let's let's dig up some of this old gossip. Some of these old allegations, and let's just help them leave. I don't know. I'm just trying to create a nice little conspiracy theory for you. I like that, I like but but the first thing Looney said, was he was going to reinvent BP. For low-carbon world. Yeah, that's not a good thing in 2023. That was good. That that worked in 2020. Yeah, that's exactly when it works. And see why the board might be like, no, we're gonna we need we need oil. Now, we're going for a record profits. Let's do this. yeah, I I just put it out there but I think iea saying it's going to Peak this decade gives them the leash to say, well, There's a lot of decades and that's why maybe you don't want someone like Looney who? They maybe they brought that's why the other direction stop saying that I can peek this decade and still be okay. Moving on. So stay with oil though. This is actually a story. We covered in a great amount of detail. I don't remember why we first covered this but we spent basically a whole show on this a few months back. The headline is that X NFL Network reporters? Sues, the NFL for racial discrimination. The one website is calling it. The lawsuit is a Smoking Gun for the rampant racism within Rodger Goodell's NFL and that the 53-page complaints a picture of Goodell's guilt and gives an account of how meaningless this the NFL's activism as always been. um, The reporter Trotter said he witnessed unchecked discriminatory conduct throughout his time at the NFL's in-house cable network. He'll alleging, that two specific owners. This is why this is why I'm calling this an oil story. So part of the complaint is this kind of these, these allegations against two of the NFL's owners, one of them in Buffalo? What's his name, what's his first Terry pegula? He said that the billionaire owner of the bill said in a response to play a protest quote, if the black players don't like it here, they should go back to Africa and see how bad it is. Wow. That is I'm saying like can you imagine that this this reporter for the NFL Network, Jim tried to? Can you imagine he's he's making this up. I mean, I know that the owners are denying this but I can't imagine making up a quote like that. But here's the context I wanted to to show pegula. Why is he a billionaire? He sold his natural gas, drilling company to part of it to Shell for five billion dollars, and part of it to American Energy Partners for two billion dollars. So, that's where he got his money. The other allegation goes against the Cowboys, billionaire, owner, Jerry, Jones, who said that that people should, but that black people should buy their own team and make their own hires. If they feel, you know, There's like a problem in the NFL with racism and Jerry Jones also made his billions from an oil and gas exploration business. So Matt it's all about oil. So I'm trying to get out here all about really great, you know. the number of people who made billions of dollars digging rocks out of the ground and lighting them on fire and then go on to run other companies, do other things and change policy and all that kind of stuff like, Is sort of shocking. It a little bit. Makes me wish that I was really good at digging. Because then what you, you could think of information about the BP board. Yeah, but it'd be better if I was good at digging up black rocks, I can light on fire because I could, I could be owning sports teams and saying racist stuff. And there's no accountability part of Trotters, complaint. The NFL Network part of his lawsuit is some great ESG data work. He presents a unfortunately, this is not make for a good podcast moment, I don't care. He presents a picture of the reporting tree that he has to go through. And it is I'm going to count them. Well for it starts with Jim Trotter, the black NFL Network report, then it goes up to the the head of digital content and then the executive editor SVP NFL blah blah. It's white man, white man, white man, white man, white man, white man, white man that last white man was Roger Goodell who then reports up to 30 NFL owners, none of which we know are black. So that this is part of his demonstration of the systemic racism going on at the NFL, but the good news here is this, is that despite the Smoking Gun and racism at the NFL, right? Which we've reported on May 10th of the past. Would also happened this week. Was that Aaron Rodgers well known qanon crazy anti-covid dude. He like hurt his ankle or something. So that's what the NFL is talking about. He he is out for the season, that's what we're all focusing on. We can we can safely ignore this lawsuit because it's not as important as a cue and non quarterback hurting his his ankle Matt. It's just not he's not he went on, he's just an anti-vaxxer Rogan on leaves. He knows more than everybody. He's okay. He's a rogue tonight. Yeah, he's a rogue tonight. Yeah, that's right. I'm a reaganite. He's a knight. That's my of course, who wouldn't love the great. Ronald Reagan. And finally, and finally, here's a good one, because I don't think I've really seen this before and we're staying with just just discussing oily, dudes. Okay. Now we're going to Oley, dude. This isn't because we're talking about. Vince McMahon, can you think of a more discussing oily? Dude, the WWE and UFC have officially merged to form the TKO TKO group. That's that stock has started trading today or yesterday. Uh, Endeavor owns 51% of the new company Vince McMahon holds 16%. So the board is split between 5we directors and six Endeavor directors. But essentially this is a controlled company, okay? So yeah, throw governance out the window, but here's the interesting part. Vince McMahon. A part of a, it was part of a governance agreement. They called it a government. I've never seen before. Here's a quote, from that agreement, he Will serve as the executive chair of the combined company until his death resignation or incapacity. Matt, he has a lifetime contract as executive chair of this new company there. That's, they cannot get rid of him. It looks like from this country, they cannot fire him. And let's not forget that a year ago. He retired. He was he was forced out his chair of the WWE stepped down because of allegations of sexual misconducts. If he just left the chair pose with the last year for being an oily jerk. And now he is a maybe this is why he got the lifetime cars. No wait there's no contingency clause for like I saw numbers sexual harassment know I literally says until his death. Resignation or incapacity doesn't say anything about about being terminated for breaching, some code of conduct or anything. It's the worst contract I've ever heard and I will say this to end before we transition over to Paul. I will say this, that I wish all CEOs were more like this next one, the UFC CEO Dana White, who's part of this, you know, new organization. He said, quote, I don't give a shit about that kind of stuff. You know what I mean? Yeah, I do. I know what you mean? Yeah. That's what he was asked about Vince McMahon's lifetime chair role. So I wish all CEOs were kind of like that which they would I don't get a little bit about my boss is going to be, that's right. Yeah, I feel exhausted. That is a lot. I mean the oil just going on just so we're clear too like the board makeup here we are talking about some of the best man in America. It's it's Nick Khan. It's it's Stephen coonan from WWE and manual Debbie but Arya manual and he's gone Derbies asshole ever. You know, are leading the charge, I have to say, I'm a little, I'm a little sad because one of the board members of this group is Jonathan. Kraft, yes, the Patriots, the son of the Patriots. At least it's like a nepo baby moment, so that's good. Also on there is, is Mark Shapiro, Who's the? Who is CEO of the, he's a baseball team, right? He's one. He's the CEO of the of the Blue Jays or something. That like that. Got it wrong. He was normally of ESPN, I believe. a different Shapiro I believe is is, was the yeah, this is just such an insular little world, and it's no wonder why you wouldn't give a shit about that because What's the point? There's no governance. Well, speaking of no governance. Yeah, before we get to Paul this again, yeah, another reason why controlled companies, you know, Zuckerberg and universes. They absolutely should not be listed on investable. This, this guy just stepped down from a chair role because of sexual misconduct. And he has codified codified that he can be the lifetime chair because there's absolutely no governance at the company. It's ridiculous. Absolutely ridiculous there. Well, there there's no governance on purpose and look, you're as a shareholder, you're entitled to two things and orange juice at the annual meeting and a vote, right? And if you took away the vote, I prefer you can buy your own fucking orange juice. You shouldn't invest in the company, like, I don't care. It's, I don't know. They should have actually two listing services. One for companies that are adult companies where you have a vote, and you have rights as a shareholder. And another listing service, like the New York, Stock Exchange light where it is gambling. It's just a roulette board and you might as well throw fucking darts at it. Because those companies can do whatever they a lifetime appointment to a guy who basically admitted to sexual harassment and paying off the people who he sexually harassed with company funds. And the company got angry at him, not for the sexual harassment. But for the spending the company money in, it wasn't even that he improperly spent it. It was that he spent it without properly accounting for expensive. That's what they were angry at. They said, yeah, it's fine. If you pay off the sexual people, use sexually harassed. You just need to put it in the right accounting, book it. Maybe the bigger takeaway here, this guy, yeah, he's 78 years old, that's his, that's his track record. Maybe the bigger takeaway here is that that the governance structures at control companies or companies control by, you know, according to our influencer data control by people like, you know, musk and Zuck where it's only one person in power. The government structures are pointless, maybe that's the takeaway here. Like you can be fine, be lifetime, chair of the board, but it's all meaningless nonsense anyway. So do what you want. I want to come back to these two because it does seem like there's a there are tremendous amount of like, the form four. Starting to come in right? Which will tell you how structurally everyone's gonna get paid right, like all the pay stuff, they have committees because they have to have committees. There's an 8K here where you know they've got all these a million basically amendments but they have to have the actual contract that McMahon signed and everybody else signed you know, this stuff is Is hysterical that we think that if we think there's like a problem with like, you know, I don't know the way traditional elections are done. Why do we not think that? This is a problem in capitalism like yeah. Capitalism is supposed to be half this because I guess we're focused on Dei initiatives. That's, that's seems to be the, it's the, oh, I get it. It's the one, it's the woke with that. Let's get. Whoa with the our very own Paul. Come on, and Paul. Yeah, what Paul's here, just talk about women in the workforce and Paul from s cage. Hello, that whole Hudson here with skates statistic of the week. So as promised last week, we're going to be looking at women in the book Force. Last week, we looked at women on boards and women in management. So now we're just going to look at women in the workforce and then specifically women in the US work force. So one of the things that skhs uncovered about the disclosure rates of women in the workforce is that the number of companies or rather, the proportion of companies, disclosing, the number of women in the workforce has increased pretty exponentially. It's gone from just 38% in 2021 to 77.3% in 2023. With the corresponding decrease in the non-disclosure percentage from 62% down to 22.7%, which is interesting in of itself. If you look at however, the disclosure rates of women in the US Workforce, it's still pretty high. In terms of non-disclosure, in fact, it's dropped a little bit from 94.1% in 2021 down to 83.1% in 2023. I'm not quite sure exactly what it is about us companies that are reluctant to Break down their Workforce diversity in this way, but it's pretty substantial. So, so let's have a look at what. The actual numbers are of women in the workforce now, in the US Workforce. It's been pretty standard across the years that last three years. The years that we're looking at here. 2021, 22 and 23 at around 2/5. The average has gone up slightly from 40.1% to 41.2%, while the medians dropped, like for 39.99. If we look at women in the workforce, more generally the figures are pretty similar. So these are the global figures for women in the workforce for the Russell 3000. And again, there are around 2/5 again slightly down at the media and in this case slightly down at the average as well. That's for the Russell 3000. So let's have a look at the S&P. 500. And see whether there's any changes in terms of the statistics there. Almost exactly the same in fact, in terms of, in terms of actual numbers around 2/5 again. Um, and the disclosure rate slightly higher. But again, it's been high in the S&P 500 for the last three years. In terms of women in the workforce and disclosing, those statistics, on the other hand, it's still pretty low for women in the US Workforce. Just above a quarter 25.1% for the last two years, 2022 and 2023. And again, not quite sure what it is about us diversity, statistics, that would indicate that it's not an essential statistic for them to disclose about their us diversity. But they are, I think we'd find the same sort of thing, if we looked at pay Equity disclosure rates, Which is something that we're going to do next week. So this is Paul Hodgson signing off now with ESG statistic of the week notice there like yeah. Congrats to Paul for successfully teasing all of his segments. He's better at this than we are you know we don't ever do that. Well the Friday yeah the Friday show everybody. We might have some interesting stuff because Jesse's down a rabbit hole looking at The least climate efficient directors in the world for climate week. Next week. Next week is climate week when we might have a string of like a top 10 lists for director performance on carbon, I hope the new msci sustainability Institute as us dial into their, their car radio. Because this is they need this, they need this, this is what this is, what they can't. This is what they wake up for. A lot of it comes from the great data msci. So I don't know why they wouldn't want it. I mean, come on, it's a no-brainer. It's a no-brainer that same error is, I'm your analysis cardi. We are free float. This was woke Wednesday. Remember set your calendars six months from today or prior. Dev sanyal becomes the BP CEO. You heard it here first. That is our prediction until Friday. Goodbye.