Daily Standup Top Stories
State Rankings: Electric Vehicles per Capita in the United States
California leads the nation in electric vehicle adoption, with over 1.1 million EVs and the highest per capita ownership. Washington, Hawaii, and Oregon follow California as EV adoption hotspots, while Mississippi and North Dakota lag […]
Green Inferno: Fire at Tesla Rival Rivian’s Illinois EV Plant Damages Electric Trucks
Multiple electric trucks were damaged on Saturday night when flames erupted at electric vehicle manufacturer Rivian’s plant in Normal, Illinois, authorities said. The cause of the fire is under investigation. NBC Chicago reports that at approximately 9:45 […]
Oil Prices Soar as Geopolitical Risk Rises Rapidly
Oil prices are rising rapidly on Monday morning as global supply is threatened by geopolitical uncertainty. Israel and Hezbollah traded strikes on Sunday in the biggest military exchange between the two since 2006. Meanwhile, Russia […]
Stricken suezmax off Yemen now an ‘imminent’ environmental hazard
Naval operations working for the European Union have given an update this morning (pictured above) from the Red Sea on the state of the blaze onboard the laden Sounion, a suezmax attacked multiple times last […]
Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal
Oil demand seen plateauing at 100 million barrels a day ‘Catastrophic’ risk of failing to invest in new oil projects Exxon Mobil Corp. forecasts global oil demand in 2050 will be the same — or even […]
Highlights of the Podcast
00:00 – Intro
01:02 – State Rankings: Electric Vehicles per Capita in the United States
03:51 – Green Inferno: Fire at Tesla Rival Rivian’s Illinois EV Plant Damages Electric Trucks
04:39 – Oil Prices Soar as Geopolitical Risk Rises Rapidly
06:01 – Stricken suezmax off Yemen now an ‘imminent’ environmental hazard
07:07 – Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal
11:04 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:10] Hello, everybody. Welcome to the Energy News Beat daily. Stand up. My name’s Stu Turley, president and CEO of the sandstone Group. Michael’s out having fun? I’ll tell you what. We’ve got some action packed stories today. State rankings, electric vehicles per capita in the US. Got some information on how your state ranks up with EVs. Green inferno fire at a Tesla. Rivals Rivian, Illinois. Heavy plant damages electric trucks. Pretty amazing. Oil prices soar as geopolitical risk rises. Rapidly stricken Suez Max of Yemen now an imminent environmental hazard. The tankers didn’t want Rivian to be the only one having fun being blown up. Let’s go to Exxon. Exxon sees 2050 oil use act level despite net zero goal. This is a huge thing for Exxon to come out and say, hey,. [00:01:12][61.2]
Stuart Turley: [00:01:12] Let’s get started with our first story here. State rankings, electric vehicles per capita in the United States. Let’s cover this here a little bit. Being forced to drive an electric car. Americans are not going to like. California leads the nation in electric vehicle adoption. With over 1.1 million EVs and the highest per capita ownership. Washington, Hawaii, Oregon and follow California has EV adoption hotspots, while Mississippi and North Dakota lag behind. California’s expensive charging infrastructure with over 15,000 stations, supports its EV leadership. But the visual there’s two charge that I want to bring up here. First one is by Virani. This is the EV adoption by state in 2023. This is an amazing chart. If you take a look at EVs per 100,000 people, California’s top of the list. Washington, Hawaii, Oregon, then Colorado, Nevada and Texas is down around the middle of the pack, and I don’t even see Oklahoma on this list. Oklahoma didn’t even make it, so that’s pretty funny. Now, Mississippi has the fewest electric vehicles proportionally, with only 110 EVs per 100,000 people. California with the highest number of charging stations. But this producer, if you could bring this next chart chart showing three different Tesla model. First one is rural America. Take a look at that beautiful Tesla and the words of Donald Trump as a beautiful desk, as a beautiful thing. Take a look at Chicago’s Tesla. It’s got bullet holes in it. You gotta have I. I want me at Tesla to drive through Chicago. So that is definitely Chicago worthy. But now let’s take a look at Detroit. Another wonderful blue run city Detroit Tesla. I’m sorry I go really dismal at that one and had to make sure that we put this on this podcast today. So if you’re listening to this podcast there are three different ones. Wonderful. Just a beautiful bright red Tesla. I would love to have one. Second one down a silver Tesla. It’s got bullet holes in it. You’re from Chicago, but if you’re from Detroit, it looks like a dumpster with sloping roofs. So it’s actually very, very funny. So. [00:03:50][158.3]
Stuart Turley: [00:03:51] Let’s go on to the next story here. Green Inferno fire at Tesla’s rival Rivian Illinois EV damages electric trucks. This one is an amazing story. NBC Chicago reports. At 945 on Saturday, first responders were called to the scene of a vehicle fire at Rivian’s manufacturing. The smoke. The fire is unbelievable. There is a video in the story here, and when you take a look at the number of EV fires that are going on, once they start, they’re almost impossible to put out our hearts and go out to our hat tip to all the firefighters that have to put those out. And when we take a look at it, just an amazing video. Seeing it burn there. I hope everybody’s okay. And poor Rivian did not need that. [00:04:39][48.2]
Stuart Turley: [00:04:39] Let’s go to the next story. Oil prices soar as geopolitical risks rise rapidly. Right now as I’m recording this on Monday afternoon, WTI is at 7732. Brant is at 8133. So we take a look at the prices. Israel and Hezbollah traded strikes on Sunday in the biggest military exchange between the two since 2006. Reports where I saw some reports. For like 40 different airstrikes where Israel took in preemptive strikes. Oil prices spiked dramatically Monday morning, with Brant above 81 and WTI 77. So also Russia at targets Ukrainian energy infrastructure in huge missile and drone attack. This one is they’re getting serious over there. And again my hearts go out to the Ukrainian and Russian people all impacted. This could have been avoided. President Zelenskyy had signed the cease fire years ago and I am just sorry that it did not stick. Libya eastern government to halt oil production and exports. This is another big reason. When you take a look at the government to halt oil production and export, Libya has got some real problems going on in their oil side of the business. [00:06:01][81.3]
Stuart Turley: [00:06:01] Let’s take a stricken Suez off Yemen now. An imminent environmental disaster. This is going to be a gigantic mess. The ship, owned by Greece’s Delta tankers, has been on fire since August 23rd, with the Houthis releasing a dramatic video, which is in the article on Newsbeat. All the crew were evacuated and have been since transferred back to Djibouti. There remain multiple fires on the main deck. The blaze is so large that satellites have been able to pick it up over the weekend. It is amazing the amount of just ecological disaster is very, very sad. The. So union is 150,000 tonnes of crude oil from Iraq. I had to go and see how many barrels that is. It’s not a it’s a Suez max. So it’s not as big. There’s bigger badly damage risk four times as much as the Exxon Valdez that is. This will become the fifth worst oil spill of all time. That is amazing. [00:07:06][65.0]
Stuart Turley: [00:07:07] Let’s go to the last story here for today. Exxon sees 2050 oil use at the current level despite net zero goal. One thing that’s for certain is that this goes to the theory that I’ve been working on for a very long time. The more we go to renewables and renewables are not actually renewable energy, they are advertised as renewable energy, wind and solar. The more we put those in, the more fossil fuels we will use. And this has been played out time and time again. Oil demand seen being seen plateauing at 100 million barrels per day. Catastrophic risk of falling to new invest and failing to invest in new oil projects. Global demand in 2050 will be, quote unquote, about the same, or even slightly higher than is. Even with all of our wind projects, all of our solar projects, we are still going to need the same amount in another 25 years. It’s just we’re going to need more of it. Oil demand will remain above 100 million barrels a day through 2050 to vote, driven by growth. Industrial uses such as plastic production, heavy duty transportation said on Monday in its annual global outlook. The IEA’s Energy Net Zero Emission scenario says demand must drop 75% to 224 million barrels a day by 2050 to limit warming above 2.7°F above pre-industrial norms, as so-called for the Paris climate agreement. I don’t agree with any of that. The IEA says do as we or the world is not on that pathway, said Chris Birdsall, Exxon’s director of economics and energy, in an interview. We have to be crystal clear on that path the world is on. Otherwise we will delude ourselves. Hats off to Chris. Well done and well said. Exxon does predict that global greenhouse gases will begin to drop by 2030 and as renewable energy sources continue to grow, will fall 25% by 2050. And it’s going to be because we replace coal with either LNG or natural gas, because India is opening up its new ten coal mines. China is putting in all the coal plants they can. You have 1 or 2 volcanoes launch between now and then, and you’re not going to make net zero. It’s just not going to happen. Exxon forecasts are roughly in line with other recent project projections by oil participants and OPEC. OPEC sees 116 million barrels per day consumption by 2045, while. Pipeline giant Enbridge predicts it could top 110 million barrels per day. So this is really exciting that people are coming out and saying, wait a minute, time out. Net zero may not be attainable, and here’s why. We are going to need oil and gas for its byproducts for a very long time. Yes. Do we need to reduce the impact on the environment? Yes. Let’s start talking to the who these and start figuring out how we can stop them from blowing up tankers. That will be the first good step. We don’t need people hurt, and we don’t need the environment hurt by oil and gas. But let’s also have the same standards of environmental impacts on wind and solar as we do on oil and gas, and we will save the planet together. [00:11:03][236.7]
Stuart Turley: [00:11:04] So with that, like subscribe, share. Tell your friends, read this to your pets several times. But also if you are an oil trader and you’re looking at buying or selling oil and gas assets or LNG or crude oil jet fuel, let me know. Go to Energy News Beat forward slash trading desk and we’ll put you in touch with the right people. As always, my name is Stu Turley president CEO of the sandstone Group, and I look forward to speaking to you soon. Thanks. And you are going to have a fantastic day. Talk to you soon. [00:11:04][0.0][650.7]
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