Daily Standup Top Stories
Oil Prices Tumble as Demand Concerns Take Center Stage
Oil prices fell early on Tuesday morning as fears faded of Israel striking Iranian oil facilities and traders refocused on growing demand concerns. – The September monthly average refining margin fell to its lowest for the month since […]
Israel Vows It Will Make Its Own Decision on How to Attack Iran
Netanyahu responds to report nuclear, energy won’t be targets Attacks in Lebanon continue as Israel combats Hezbollah forces Israeli Prime Minister Benjamin Netanyahu asserted the country is free to act as it chooses in a counter-strike against […]
BMW Says EU Ban on Gasoline Cars from 2035 Is “No Longer Realistic”
Germany’s car manufacturing giant BMW is warning that an EU ban on the sale of gasoline and diesel cars from 2035 is “no longer realistic” amid slow EV sales as the European auto industry will […]
India Plans $109 Billion of Grid Investments to Boost Renewables
India plans a massive upgrade and expansion of its power transmission system, expecting investment opportunities of $109 billion to support the integration of renewable energy sources and storage solutions, the power ministry has said. India’s new […]
EU Energy Minister Debate Russian Gas Flows as Ukraine Transit Deal Nears End
EU ministers are debating alternatives to Russian gas imports as the Ukraine transit deal expires in December 2024. Concerns are rising regarding rising Russian LNG imports and the effectiveness of EU sanctions on re-exports. Some […]
Highlights of the Podcast
00:00 – Intro
01:13 – Oil Prices Tumble as Demand Concerns Take Center Stage
02:09 – Israel Vows It Will Make Its Own Decision on How to Attack Iran
03:51 – BMW Says EU Ban on Gasoline Cars from 2035 Is “No Longer Realistic”
05:28 – India Plans $109 Billion of Grid Investments to Boost Renewables
06:52 – EU Energy Minister Debate Russian Gas Flows as Ukraine Transit Deal Nears End
09:00 – 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] Everybody welcome to energy news beat daily stand up. My name’s Stu Turley, President of the Sandstone Group. Michael’s out on assignment in Houston and we’re having a lot of fun there on the news desk. I’ll tell you what, we’ve got us some stories today. Oil prices tumble as demand concerns take center stage. Following along that theme, Israel vows it will make its own decision on how to attack Iran. I think that’s important, How, And not if BMW says EU ban on gasoline cars from 2035 is no longer realistic. India plans on $109 billion investment to boost renewables. Holy smokes in the EU Energy Minister debate on Russian gas flows as Ukraine transit deal nears end. The EU and the UK are in a absolute energy crisis. Coming around the corner here,. [00:01:13][62.8]
Stuart Turley: [00:01:13] Let’s take a look at the oil prices tumble as demand concerns take center stage. This is a basic article out of Oilprice.com. They’re great people over there. The IEA has revised its global refinery runs forecast this year from 82.8 million, down by 180,000 barrels per day from its previous estimate, also estimating a point 6 million barrels per day year over year increase in 2025. Now, this comes on the heels of OPEC lowering their information, saying that demand is lowering. So that’s why we’re seeing a little bit lower the oil prices right now. At the time I’m recording this, it’s at $70 and 58 for WTI and it looks like it’s 78, 69 for Brant. [00:02:09][55.5]
Stuart Turley: [00:02:09] But when we take a look at the next story, Israel vows it will make its own decision on how to attack Iran. Netanyahu responds to Report Nuclear and Energy Won’t be Target responds to report nuclear and energy won’t be the target. So everybody is kind of having a sigh of relief that they’re not going to bomb Kharg Island or take out their export facilities. But a report in the Washington Post said the Israeli premier has agreed to limit their response to military targets. The newspaper cited two officials familiar with the matter who didn’t identify. So when we sit back and take a look, we’re not sure. But then Netanyahu actually said we will determine all of the targets. I hats off for him. He’s sticking to his guns, so to speak, and saying that he will pick the targets. I applaud them. There’s a little bit more to this discussion on on just destroying their oil infrastructure. There are other things that would be beneficial for the world’s economy. Other than that, I think it’s an open discussion. And if you would leave your comments in the show notes or if this is posted out on my X channel or if it’s posted out anywhere else, we want to know, what do you think? Do you think Israel should propose a strike, a preemptive strike on nuclear facilities? I don’t know. I don’t have an opinion on that. This is just asking, what is your opinion? [00:03:50][100.6]
Stuart Turley: [00:03:51] Let’s go to the next article here. BMW says EU ban on gasoline cars from 2035 is no longer realistic. I agree. And when you sit back and take a look at there’s a couple things that are going on around the world, and that is we’re finding green energy policies equals deindustrialization. Deindustrialization equals horrific financial problems for folks. Germany’s car manufacturing BMW is warning that an EU ban on the sale of gasoline and diesel cars from 2035 is no longer realistic amid the slow down of EV sales. People can’t afford it. And when you take a look at China over the years has increased its battery. They are half the cost on the batteries alone. Under the regulation, the European Commission will assess the 2026 progress the EU has made in achieving the target. The Commission will decide whether targets need to be reviewed. BMW is Chief Executive Officer excuse me, Oliver Zipse. He said on Tuesday that the Paris Automotive Summit that the ban could also threaten the European automotive industry in its heart. I agree. I still think that there is. A huge demand for hybrids. I don’t have a problem with let’s use technology and reduce the miles per gallon, but still and then have a little less demand of critical minerals. So hats off to them for putting up that fight. We’ll see how far that goes. [00:05:28][97.3]
Stuart Turley: [00:05:28] Let’s go to the next story here. India plans $109 billion of a grid of investments to boost renewables. They are looking at doing this. India’s new national Electricity Plan transmission investigates the addition of hundreds of thousands of kilometers of transmission lines, transformation capacity and interregional transmission capacity by 2032. They are aiming to have 500GW of renewable energy capacity installed by 2030 and more than 600GW by 2032, according to the National Energy Plan. I think that’s wonderful. Everything that I’m seeing this is by Charles Kennedy for Oprah. I love Charles. But, you know, I really don’t know that they should be doing that when you’re trying to electrify a country that needs. I would say you’ve got all the coal that you’re going to be burning. I understand why you don’t want to look at natural gas and look at other sources of it. The renewables are way too expensive for long term. So maybe they’re getting funding. I have to go take a look and see if this is coming in from out of country funding, but I don’t know that I would agree with their plan on how to do it. [00:06:51][83.0]
Stuart Turley: [00:06:52] Let’s roll on to the EU minister debate. Russian Gas Flows as Ukraine Transit Deal ends. EU ministers are debating alternatives to Russian gas imports as a Ukraine transit deal expires in December of 2024. We are coming up only in a few more months and they are not going to renew it. So we have if Ukraine does come, the Ukraine war comes to an end in December, it may get signed back on. And if you want, Zelensky is actually trying to sit back and say now that he understands that President Trump has a real strong he’s in the lead now. He’s up 20 points in the betting polls over Kamala Harris. That’s a good sign that he is definitely pulling ahead. We have seen Belgium in doubting in in in doubling of LNG volumes. These are probably destined for security of supply with Europe. We have difficulty implementing the 14th package. That’s why we’re calling for a tracking system. When you sit back and take a look at the Dart fleet has been built up in the LNG fleet, not just oil, but it’s now in that. And they’re really taking a look at the Arctic LNG and trains from Russia so that Russia can still sell natural gas under LNG. And when you take a look at the price increase to the consumers, even with getting LNG as a replacement for natural gas de-industrialisation will happen. The only way that Germany can actually get ahead and really get lower cost energy and try to get Volkswagen or try to get their fertilizer, BASF, you can get all these things rolling in would be with Russian natural gas. So they had some tough choices coming around the corner and let’s see how they go and which way they go. [00:09:00][128.2]
Stuart Turley: [00:09:00] So with that, like subscribe share, we do appreciate everybody that is listening to our podcast. We are just so thrilled with the amount of volume and the just feedback we’re getting. If you go to Energy News Beat forward slash investment slash dash survey is an oil and gas investment for you. Take a check, take a look, take a look and see if your portfolio needs a investment with passive income and a tax deduction, this may be of something of value for you. So just let us know. Thanks and have an absolutely wonderful day. Look forward to speaking to you soon. [00:09:00][0.0][527.4]
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