Theresa Chen
Barclays Bank PLC, Research Division

Good morning, everyone. My name is Theresa Chen, and I am the North American midstream and refining analyst here at Barclays. It is my pleasure to host a fireside chat with Kinder Morgan, one of the premier U.S. midstream companies under my coverage with assets spanning across the country covering multiple commodity value chains across natural gas, crude oil and refined products.

And with us is President of Kinder Morgan, Dax Sanders. Welcome, Dax.

Dax Sanders
President

Thank you, Theresa. Really happy to be here. And I've also got with me Peter Staples and Sean Pogue, our 3-person massive European entourage here. So great to be here, and thanks for hosting.

Theresa Chen
Barclays Bank PLC, Research Division

Love it. So diving right in, maybe we look at the macro side of things first, Dax. Over the past 2 months and change into the U.S.-Israel war with Iran, how do you think the energy landscape has fundamentally changed with respect to the U.S.'s role in liquids energy supply, in particular, right now, what is the tone like in your conversations with producer customers amid the emergent call on U.S. onshore production? And maybe bridging that to your near-term expectations as well, what is your view on the time you're likely to see a step-up in activity across your...

Dax Sanders
President

Yes. Great question. I think all of us, certainly within the energy scope are reacting to news that changes seemingly by the hour. I think it -- with respect to long-term changes, it's pretty early to tell exactly what's going to change. I think