Daily Standup Top Stories
US opens applications for $900 million for small nuclear reactors
WASHINGTON, Oct 16 (Reuters) – The U.S. on Wednesday opened applications for up to $900 million in funding to support the initial domestic deployment of small modular reactor nuclear technology. WHY IT’S IMPORTANT President Joe […]
The UK’s £21.7 Billion Carbon Capture Gamble
The government confirmed this month the funding for the UK’s first carbon capture sites. The technology, it is claimed, captures CO2 emissions before they reach the atmosphere and stores them away safely.[…]
U.S. Shale Patch M&A Declines In Q3 To $12B
Oct 17, 2024 Stu Turley
The U.S. shale patch recorded $12 billion worth of mergers in the quarter ended Sept. 30, the lowest total in six quarters, Enverus Intelligence Research has revealed.
Andrew Dittmar, principal analyst at Enervus, has noted that some of the biggest buyers have become sellers[…]
‘Age of electricity’ to follow looming fossil fuel peak, IEA says
Oct 17, 2024 Stu Turley
LONDON, Oct 16 (Reuters) – The world is on the brink of a new age of electricity with fossil fuel demand set to peak by the end of the decade, meaning surplus oil and gas supplies could drive investment into green energy, the International Energy Agency said on Wednesday.[…]
Highlights of the Podcast
00:00 – Intro
00:58 – US opens applications for $900 million for small nuclear reactors
03:00 – The UK’s £21.7 Billion Carbon Capture Gamble
04:33 – U.S. Shale Patch M&A Declines In Q3 To $12B
05:50 – Age of electricity’ to follow looming fossil fuel peak, IEA says
07:48 – 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 Energy News Beat Daily stand up. My name’s Stu Turley, president CEO of the Sandstone Group. Today it’s a crazy day on the news desk. U.S. opens applications for $900 million for small nuclear reactors. Hey, it’s money Ukraine didn’t get. That’s kind of cool. That’s go to the UK’s $21 billion carbon capture gamble. You got to love a good gamble. U.S. patch M&A declines in Q3 to $12 billion. Age of electricity to follow Looming fossil fuel peak from the IEA. The IEA has a lot of things in common with other U.S. agencies. We’ll go into that here in a second. All right. [00:00:58][47.4]
Stuart Turley: [00:00:58] Let’s go to our first story here. Buckle up. U.S. opens applications for $900 million of small and nuclear reactors. Why it’s important. President Joe Biden’s administration believes nuclear power is critical in the fight against climate change because it generates electricity for virtually free emissions. And the U.S. nuclear power must triple to meet emissions. Goal. I would disagree with this. I think our U.S. nuclear power needs to do more than that in order to do that, because with the regulatory issues facing coal and natural gas, you’re not going to make it with even tripling the nuclear fleet. It’s going to be a lot more than that. Funds come from the 2021 bipartisan infrastructure law, and the Energy Department anticipates turning it into two tiers up to 800 mil go to milestone based awards for support for their first mover teams, a utility reactor vendor constructor and end users and others. Up to 100 will spur additional smart deployments by addressing the gaps that have hindered the domestic nuclear industry. Here’s where I’ve got a real problem with this, and I’m trying to verify this. There are some of the regulatory issues that the State Department of Energy and the United States Department of Energy has done. The failure of their ability to implement and spend money and get things done, this is going to mean that we’re not going to deploy any nuclear reactors. I mean, when you spend billions and you get seven electrical chargers, there’s a difference between an electrical car charger and a nuclear reactor. I applaud them for trying. I think that this is political and we need to make sure they stay out of the way of the regulatory oversight. Let’s keep an eye on it. [00:03:00][121.6]
Stuart Turley: [00:03:00] Let’s go to the next story here. The UK has 21.7 billion carbon capture gamble. The UK government is investing $21.7 billion in carbon capture. But experts are divided on its effectiveness and cost. I’m going to hold that thought for a moment while I laugh. The high cost and uncertain outcome of carbon capture projects raise questions about the best approach. You’ve got to be kidding me. The great British energy and other scheme and know brands is cheap in comparison at a cost of only 8 billion. This company will engage with investors in wider markets to create investments that offer seizes the opportunity for the transition to a clean energy future. You can’t capture cars. In fact, it is a waste of money. And when you have the UK’s energy policy are driving energy prices higher and they’re having to not pay pensioners money and they’re deciding to stay heat only one room in a house, you can’t be capturing carbon. It is actually meaningless to do carbon capture when you have the amount of coal that is being burned around the world and who cares? There’s nothing that they can do with carbon capture except waste. $21.7 billion. It is like flushing it down the toilet and not heating a room. Unbelievable. [00:04:32][92.4]
Stuart Turley: [00:04:33] Let’s roll over to the US shale patch. M&A declines in Q3, they’re down to $12 billion. Andrew Ditmar, who I’ve been interviewed several times, I absolutely love him. He’s over it in various principal analyst over it in various is noticed that some of the biggest buyers have become sellers including Occidental Petroleum at $818 million sale of properties to Permian resources and APA which is upstream. M&A was down to drop after 2020 threes record of 192 billion. And one of the biggest deals during the quarter of independence was Devon, which announced plans to acquire Greyson Mills, Wilton Basins and Cash deal for 5 billion, consisting of 3.25 billion in cash and 1.75 billion in stock. I think that we will see a little bit of a download a slowdown in the M&A activity with waiting on the elections. We’re only about 19 days away, so I think that we will see some more. If President Trump is elected. I think that you will see it picking back up again and people looking forward to it. [00:05:50][76.3]
Stuart Turley: [00:05:50] Let’s roll the IEA story here. The age of electricity to follow looming fossil fuels. P IEA says a the IEA and the EIA have a lot in common. They’re both government agencies that will fictitious surely put out numbers to the highest bidder. The world is on the brink of a new age of electricity, with fossil fuel demand set to peak at the end of the decade, meaning that surplus oil and gas supplies would drive investments into green energy, the International Energy Agency said on Wednesday. But in a release accompanying its annual World Outlook report, the agency also flagged a high level of uncertainty as conflicts embroil the oil and gas producing Middle East and Russia in the second half of this decade. Quote, the prospect of more ample or even surplus oils of natural gas, depending on how geopolitical tensions evolve, would move us in a different, very different world, IEA executive director Faith Brill said in the release. The IEA has people that pay them and they are green energy. Green energy policies, equal deindustrialization and very bad financial problems. So go ahead and I’ll wait here while we try to make an iPhone out of either a solar panel or a windmill. Okay. It’s not going to happen. Thank you for that. It is not going to happen. You need petroleum based products for plastics, semiconductors, and just everything that you want to make you can’t make with just renewable energy. I don’t know when peak oil demand is going to get here. I know for a fact we do need to move away from it and eventually we will. The technology is not here and it’s not in the foreseeable future. [00:07:47][117.5]
Stuart Turley: [00:07:48] So till then, be careful who you listen to because there are usually somebody that is on a payroll, kind of like the FBI coming out and having to revise their numbers. And that crime has been increasing. So just because you’re on somebody’s payroll doesn’t give you the the you shouldn’t look at your own ethics in your reporting. So I hope everybody shares legs and scribes. And I want to just give a big shout out to everybody that’s listening to the Energy News Beat podcast. Hope you have an absolutely fantastic day. [00:07:48][0.0][455.2]
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