Doomberg stops by the Energy News Beat and Energy Impacts podcast with Stu Turley and David Blackmon. We are going to cover some of Doomberg’s current articles, including the Energy Crisis in California, and the Global Oil and Gas market update. We were live on X, YouTube, and LinkedIn
The main topics and themes discussed in this podcast are:
1. The energy crisis in California:
– The transcript discusses the emerging energy crisis in California, particularly in Northern California. It highlights how the state’s regulatory policies have led to the closure of major refineries, creating a fuel supply shortage.
– The discussion covers the potential consequences of this crisis, including the possibility of $10 per gallon gasoline and the impact on the broader West Coast region.
– The transcript also touches on the national security implications of California’s energy dependence and the need for a more resilient energy infrastructure.
2. Politics and policy:
– The transcript delves into the political dynamics surrounding energy policy, including the potential impact of the SAVE Act on voter ID requirements and the role of the Republican and Democratic parties in Washington.
– It also discusses the implications of the removal of the EPA’s endangerment finding for CO2 and the potential for policy whiplash depending on the outcome of future elections.
– The discussion touches on the potential presidential ambitions of California Governor Gavin Newsom and the challenges he may face in the Democratic primary.
3. Energy markets and geopolitics:
– The transcript explores the EU’s “grid socialism” plan and its potential impact on energy prices and grid stability across Europe.
– It also discusses the potential implications of the EU’s proposed carbon border adjustment mechanism (CBAM) on US LNG exports and the geopolitical dynamics surrounding energy trade.
– The discussion includes an analysis of the Bloomberg article on a purported Russian memo seeking to rejoin the US dollar system, which the speaker dismisses as likely false.
4. Doomberg and media analysis:
– The transcript provides insights into the Doomberg brand, its approach to analysis and publishing, and its plans for expansion, including a forthcoming book project.
– It also touches on the challenges of being a media guest and the importance of maintaining brand consistency, particularly in relation to thumbnail images and headlines.
Overall, we cover a wide range of energy-related topics, with a focus on the interplay between policy, geopolitics, and market dynamics, as well as the role of media analysis and commentary in shaping the energy discourse.
From Doomberg’s Article:
When refineries go dormant, an array of midstream assets that connect them to the fields from which their inputs are derived suffer as well, which can lead to severe system stresses that build up over time. Even before Valero’s Benicia moves, Northern California was down to just three major petroleum refineries—a fact that made moving crude produced within the state to the Bay Area chronically uneconomic. The owners of the San Pablo Bay Pipeline (SPBP), Crimson Midstream LLC, had been warning California regulators for much of 2025 that it could no longer keep the pipeline operational without substantial intervention. Since the SPBP was the last remaining pipeline connecting the Kern County oil fields of central California to points further north, its closure would trigger a cascade of negative consequences.
Although the state tried to be responsive to Crimson’s needs—the California Public Utilities Commission authorized a 59.2% rate hike, raising the tariff the company could charge for transporting oil to about $3.75 per barrel effective August 1, 2025—the move was insufficient. When Valero nominated zero barrels on the SPBP in December, the inevitable swiftly followed:
“In the heart of California’s oil country, a critical artery for the state’s energy supply has been severed. The San Pablo Bay Pipeline, the largest inland crude oil pipeline in the Golden State, has shut down, forcing thousands of barrels of oil to be transported by truck instead. What was once a seamless underground flow from Kern County’s oil fields to Bay Area refineries now requires nearly 100 trucks rumbling down the roads every single day. This isn’t just a logistical headache—it’s a harbinger of skyrocketing fuel prices, potential shortages, and a deepening energy crisis that could push gas and diesel costs to $8 or even $10 per gallon.”
Back to the future | Getty
Check out Doomberg on his Substack: We highly recommend a subscription!
A lateral-thinking approach to energy, finance, and geopolitics | Subscribe below for free previews of new articles | Click through to our About page for pricing and FAQ.
At The Intersection of Energy and Finance – By Sandstone Asset Management
By Stu Turley
For David Blackmon https://blackmon.substack.com/
It was great fun having Doomberg on the podcast with David Blackmon, and sadly, he is right about many things. The idea of Gavin Newsom being the next President is a tough point of discussion. The podcast hits some hard points, and if we don’t get the SAVE Act passed, all bets are off.
I will also be pushing out the Energy Realities that we recorded Live this morning this afternoon, and then we have two more fun interviews rolling this week.
Please let us know what you are thinking and which projects concern you.
