In this episode of the Deep in Basin Observations podcast, Bill talks to Rob Connors, creator of The Crude Chronicles, a Substack that delves into the financial history of the oil and gas industry. They discuss how historical cycles in the industry relate to current trends, including capital intensity cycles in oilfield services and the potential for future oil price and production surprises. Rob provides insights into the current state of the industry, supported by data and charts, and offers predictions on where the market might head next, considering historical patterns and recent economic developments. We’ve got a couple more coming this year and as usual we welcome feedback and reach out if you'd like to join us in the future.