What benchmarks are you using to value your potential?
Using yet another headline pointing to dwindling Cushing storage, this live episode of The Energy Detox will help you properly measure and value your personal energy reserves.
The headline: U.S. demand for oil surges, depleting tanks in Oklahoma (Reuters)
The goal: to (G)row, (P)rotect, and (S)ustain success by pondering these 3 questions throughout your day:
💡 How might your personal growth be outpacing available resources?
💡 Does the value you command reflect your full potential?
💡 Have you unwittingly become an energy hub for your stakeholders?
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Transcript
(AI training in progress; please excuse any errors)
Hello and welcome to the energy detox a petroleum based blend of leadership conversations guaranteed to boost your professional and personal output by flushing away the hidden and often toxic barriers to peak performance. I'm your host, Joe Sinnott, a chemical engineer, executive coach and 15 year energy industry veteran helping you tap into the same resources fueling today's most successful and sustainable leaders. And this morning, we're going to talk about one of the headlines that seems to have been in the news for the last several months now. And that, of course, is the supply versus demand when it comes to oil, in particular, an article this morning from Reuters, that points to the supplies in Cushing, Oklahoma, which are as low as they've been in three years. And what does that mean, of course, well means that demand is outpacing supply. And when that happens, of course, prices go up, we've seen prices go up. And we're not going to dive into the fundamentals of commodities today. But we are going to use this headline and really the the headlines over the last several weeks regarding the increasing prices in oil and natural gas as a way to ask you and remind you that your value is driven by all kinds of various market fundamentals, if you will. And if you're not on guard against the ways in which that value is being either harmed or perhaps the way that you're being undervalued, then you're likely on an unsustainable path. When it comes to your ability to lead yourself lead your teams lead your families, through what will continue to be likely years of volatility. And so today, as we've been doing, we're going to ask three questions based on this one headline to help you grow, protect and sustain success. And the first of those questions is, how might your personal growth be outpacing available resources. And again, this might be just a twist on the very basics of supply and demand. But when we look at Cushing and in turn the price WTI. Again, what have we seen? Well, we've obviously seen that more oil is flowing away from Cushing then is being put into reserves. And of course, you're looking at two dozen pipelines, pulling things away. And and as a leader, you might not be fully aware of how you might be getting drained and how your your fingertip tanks, if you will, might be getting drained until it's too late until the next weekly report from API or EIA comes out and points to the fact that Oh, my your reserves are down. And therefore there's going to be impacts downstream in terms of prices and gyrations in, in processing or whatever the case might be. And so again, you need to ask yourself, alright, do you have the resources in place to ensure that you can continue moving forward, you can continue growing, if you will? Do you have the resources in place to make sure that you're on guard against unforeseen changes in supply and demand? Do you have the resources in place so that next time a hurricane comes through, or the next time some headline regarding the next variant of COVID-19 impacts demand, you're on guard for the changes that is going to occur in your personal value. And what I've seen for the people that I work with is that sometimes they don't have the resources in place. Sometimes they don't have the support of individuals, they don't have their teams built out. They don't have the fundamentals that we talked about in yesterday's episode regarding exist simple as sleep, as simple as eating right? Simple as exercising all of those, those fundamental things, those resources, that time that you need to continue moving forward and growing. And so to the world of coaching that I'm in, do you have resources that are there to help you anticipate changes in supply and demand that can quickly impact your ability to function, especially if you happen to be one of the types of people that like somewhat of a rigid schedule, and like some level of certainty, because again, we don't live in a certain world, we don't work in a certain industry, of course. And the way to mitigate some of that uncertainty, of course, is to surround yourself with the right resources. So again, ask yourself, you might not be able to control supply and demand, but do you have the resources to mitigate the inevitable changes in your personal energy supply? That being said, it brings us to the next question of protection? And how are you protecting your value? We talked about in the first question, if you will, protecting your ability to continue growing and moving forward by surrounding yourself with the right resources that can help you mitigate fluctuations in supply and demand. But the next question is, are you commands Finding the value in yourself that reflects your full potential. Because it's very easy
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as things change, especially as things change subtly, to be unaware of times where no your time your energy is being undervalued by your stakeholders, by your employees by those who you work for whatever the case might be. So again, ask yourself, does the value that you command reflect your full potential? And if it doesn't, why not? Because coming back to the article, one other thing besides of course, the thinning of the spread between WTI and Brent crude in terms of, you know, obviously, an increase in WTI, because of the issues right now in the United States regarding supply and demand. Well, so too, with you, are you looking at others? Are you looking at other benchmarks that have always been, you know, maybe at a premium that you've aspire to, you've aspire to command the premium that other leaders are getting, for whatever reason, but yet now you find yourself in higher demand. Now, you find yourself in a position where you are putting in more time and energy and working harder, and you recognize your full potential. So the question is, if that is you, are you getting full recognition for that? Are you getting full potential, and we're not just talking about compensation, obviously, I'm not just talking about people who are in a career transition or looking for a new job and want to maximize their salary and bonus potential or anything like that, know, the value that you need to be mindful of, is your potential to make an impact and the potential for you to do so in a way that is sustainable. And that might not mean a change in your compensation, it might not mean a change in the number of hours are working. But it might mean a change in your ability to withstand the volatility, and to withstand what might be years more of your career. And to not do so in a way that leaves you completely burnt out at some point, again, as I see often in people that I work with, so you don't have to necessarily frame value in terms of money, you don't have to frame value again, for a barrel of oil in terms of whether it's $85. Today or $90. Tomorrow, or whatever the case might be. No, you can think about value in terms of what it ultimately does for you, will we be able to have, you know, be able to continue producing oil for the next several decades. There's value in that there's value in that timing. And then the final question is, from a sustainability standpoint, have you unwittingly become an energy hub? For your stakeholders? Are you unwittingly being drained at times where you don't realize it potentially, you can look again at Cushing, Oklahoma, there's nearly two dozen pipelines that are flowing, you know, in and out of Cushing. And are you aware of all of those pipelines that might be, you know, supplying you if you will, with extra agita, and angst and anxiety and tasks and things like that? And conversely, are you aware of the pipelines that are draining your energy and draining your time and draining your ability to focus on what are your ultimate tasks are. And if you're not fully aware, or you feel like you're not fully aware, take some time today to do a quick accounting of all of those various pipelines flowing in and out, that might leave you depleted, that might leave your reserves lower than you would care for them to be. And once you have that list, once you have that feeling for some of those drainage points, where again, your energy might be leaking, and ask the next logical question, which is, are they necessary? Are those pipelines still adding value to you? Do you want to be this hub? Do you want to streamline things so that you're just you know, having to manage a two or three pipelines coming in and out each day? Those are the type of questions you want to ask so that you don't unwittingly become the type of leader who is a hub, who is not getting full value and full compensation, if you will, figuratively and literally for what you're offering, and so that you're able to keep moving forward and growing in a way that is sustainable. So with all that being said, I appreciate you tuning in for yet another live edition if you're happen to be listening or watching live of the daily detox here. And we will continue to take one daily morning headline, and we even into leadership themes that I continue to see each and every day. And for more of these daily detoxes or for the more full blown versions of the energy detox podcast, I encourage you to visit the energy detox.com And until tomorrow, have a great day. continue focusing on ways that you can continue growing, protecting and sustaining your success. And again, I thank you for tuning in.