Biden Drives Energy Prices UP 29.4%

Source: ENB

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Highlights of the Podcast

00:00 – Intro

01:21 – Biden’s Green-Energy Price Shock

03:09 – Biden Administration Finalizes Power Plant Rule

11:43 – Exxon is working on tech to remove CO2 from atmosphere but a breakthrough is needed to slash costs

13:02 – As solar capacity grows, some of America’s most productive farmland is at risk – Who pays for the EOL land reclamation?

15:05 – China calls for ‘international investigation’ into Nord Stream attack

17:09 – Outro

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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

Stuart Turley: [00:00:15] Hello, everybody. Welcome to the Energy News Beat Daily stand up. Today is April 29th. My name’s Stu Turley, president and CEO of Sandstone Group. Buckle up. We’ve got a lot of fun going on today. Biden’s green energy price shock is the first story out of the block. Second story Biden administration finalizes power plant rule. I think you’re going to be surprised what happens here. Exxon is in their third story, is working on, tech to remove CO2 from atmosphere. But at a breakthrough, it’s gonna need to slash costs and then solar. As solar capacity grows, some of America’s most productive farmland is at risk. Who pays for the end of, life on the land reclamation? I always want to know a good down. Good story on that one. China calls for international investigation. The Nord Stream attack. There’s some things hidden in this nugget, so let’s get rolling. [00:01:20][64.6]

Stuart Turley: [00:01:21] Biden’s green energy price shock. This one. Everybody saying that, inflation is only 2 to 3%, needs to take a look at the cumulative effect of inflation and energy. And so when you take a look at this, the near the chart and in this story shows that, the average change in electricity prices over the last decade, electric rates remained flat in the seven years before President Biden took office, rising 5% since January 2021. Electricity prices have soared 29.4% in about 50% of that from overall inflation. Wow. So you sit back and kind of take a look at we’ve had supply chain issues. We’ve had bad energy policies coming in. And the you know, electricity prices have increased 13 times faster under Mr. Biden across the previous seven years. This is not you cannot have bad energy policies thinking that you’re going to be able to solve an economy, decisions. You’ve got to have good low cost energy in order to get, out of, inflation and get your GDP. Right now, Russia is beating the U.S. we came in, I believe, at 1.6% GDP growth. And now Russia is at 3.5 3.6% GDP. Pretty sad. [00:03:08][107.4]

Stuart Turley: [00:03:09] So let’s go to the next story here. This story is is amazing in the sense that Biden administration finalizes power plant rule. This one I’ve got several things for mass producer, to bring up. As I talk about these things. There are five key takeaways. I have to, take a look at this. The and the EPA has finalized its power plant rule, which, forces existing coal and new natural gas gas plants to use technology that is either neither economic nor commercial to reduce carbon dioxide, emissions, or to shutter the EPA number two will define the requirements for existing natural gas plants. Later. The author of this story feels that it may most likely be after November election. This is to pacify the green movement. Don’t kid yourself. Number three, since natural gas and coal supply about 60% of the U.S electricity and backup intermittent weather driven wind and solar units, the rule calls into question the survival and reliability of the electric grid. I kid you not, this is not good. If you’re going to take out the coal plants in a very expedient manner, we cannot get the regulatory process, done for nuclear fast enough. This is a recipe for disaster. And the only thing that’s going to solve it is rolling blackouts or using even less energy. Tell that to the AI in the data center, folks. The number for the rule is drawn by, some, bipartisan criticism for its potential impact on the grid, which groups are concerned with the importance of reliable and affordable electricity? The rule. All will increase electricity prices and decrease reliability and raise the potential for economic disruption in the United States. The author has all five of these key takeaways. Wonderfully. The changes include, need to start capturing 90% of their carbon dioxide emissions by 2032, rather than 2030 as originally proposed. So what, they’re still not going to be able to do it. And is carbon capture and sequestration technology is neither commercially available nor economically. We’re already be industrializing the United States. Just like Germany and Germany is now. The EU is gone. And so when you sit back and take a look at the GDP growth for the EU and the economic people are going hungry, this is a significant issue. And, pacification of the, the left or the greenies that are out there, I’m all about let’s save the environment. Let’s save, the planet, let’s not pollute. But let’s have a discussion on this. Let’s also go into your fossil fuel plants that are not retrofitted with carbon capture systems. Must exit the grid by January 2039, instead of January 2040 as originally proposed. This is even more of an issue, because it’s just not going to be there. They’re making it fiscally, unsound for, power plants to keep their power on line. And solar is not going to be there. Wind is not going to be there. Facilities that broke ground after the proposal came out last year and will run frequently, must capture 90% of their emissions or prevent that amount from emissions in some other way or close down. This is absolutely frightening. Mr. Producer, if you could bring up, the first video and let’s take a look at this video. The video is CO2, methane and generated around the world. I want to bring this up just from a standpoint as we as we kind of watch this video go around, we start we’re looking at Spain and you’re seeing that you can even see the this methane map and CO2 is picking up, a where the shipping and air and you take a look at China. Holy smokes. That is where most of the population and pollution is happening right now is India and China. Miss producer, can you go ahead and bring up the second video? The second video is a China coal power plant. And as I watch this, you take a look at the smog. This is one power plant. And we’re going to go through some of these other numbers here in a second. This is an eye opener for me. There’s an article that just came in yesterday. And it says that China is now putting out more CO2. And then the rest of the Western. So those as a western, civilized countries combined period. And so when you look at this video as we’re watching this video, you can understand why. Now, Mr. Producer, can you bring up the next global, coal plants globally, slide and you’ll take a look at that slide. It is amazing. Take a look at all of the coal plants in the U.S. and, and then, there’s, I have to take a look. There’s 6500 or so, and there’s 2000 and some on in the U.S.. So. Thank you, Miss Producer. Let’s go to this other slide. U.S. power, generation capacity under development with construction, kickoff scheduling between 2024 and 2028. This graph really takes a good look at, in the southeast southwest and how the plants are all aligning out in the megawatt usage. I don’t have time to go through it now, but it is in the article. Take a look at it. And there is absolutely no way that we can get by without natural gas or coal. Now if we just got rid of coal, I’m all in on getting rid of coal in an orderly fashion, but I did not know this in Miss Producer in can you bring up the natural? Gas plants of the U.S. and of the natural gas plants in the U.S.. I did not know how many were in, California. There, there are a significant number of natural gas plants in California. This is huge. Now, there is, coal plant in, Nevada. And I’m looking at how much in California is the largest energy importer in the U.S.. They import coal, electricity from Nevada. I’m trying to get the numbers of how much they import, but they do use coal as it’s imported from Nevada. Pretty interesting information there. So when we take a look at the takeaways of the new EPA, regulatory issues going on right now, we take a look at natural gas, coal and the whole mix. We need a balanced diet of power, and we need a we need it all wind, solar I don’t care, but you’re not going to regulate yourself into net zero cannot be done. What’s going to happen? People are going to, have serious feeling issues. Well, that cheery note,. [00:11:42][512.8]

Stuart Turley: [00:11:43] Let’s go to the next story here. Exxon is working on tech to remove CO2 from atmosphere, but a breakthrough is needed to slash costs. And this is pretty funny. Darren Woods, CEO, says the technology is unaffordable. Oh, kind of goes, along with the previous story. Says the cost needs to come down to $100 per ton for the technology to scale globally and be a viable tool. I, I applaud him for this. This is a tough challenge, to break. And I’m not pretending we’re going to be like, the ones to solve it, would says. But I’m confident that we will give it our all, applying our best, capabilities. I applaud him for saying this. Here’s another quote. Once we have a technology that goes to the right cost level, you’ll be able to need a global deployment at scale. I suspect the technology will be acquired for the future. Lower cost direct air capture will be different than what we’ve got today, and require some of the technical capabilities that we have. I think it’s fabulous. At least he’s saying, let’s look at energy tech. Let’s take a step back and plan for the future. Hat’s off to, Mr. Wood over there at, Exxon. [00:13:01][78.2]

Stuart Turley: [00:13:02] Let’s go to the next one. As solar capacity grows, some of America’s most productive farmland as at risk, who pays for the end of life land reclamation? This one is really driving me nuts. The picture on this one is if you just look at the article, solar panels stand in. Indiana. 445 acres near Wentzville, Indiana, are covered in solar panels and in related machinery. The Dandridge Solar Project is a subsidiary of NextEra Energy Resources, and it’s the world’s largest generator of renewable energy and wind. Did it, did it, did it? The company said it would renew it. It would review any remedial work that’s needed at the end of its contract. Said it would review as per terms, but it does not say who is responsible. I can’t commit to say I’m going to review at the end of the contract. Doesn’t say who’s responsible. Let’s get your attorneys. If you’re a landowner and you are a farm owner and you have a windmill or a solar panel, please reach out a solar farm. Please reach out to us. I want to find out what’s going on. I’m not finding very many signed contracts of land reclamation, very much like in the oil and gas space, which is the abandoned, oil wells is an orphan. Well, programs are getting better. And, shout out to R.T. and the Trevino family resources, for bringing up some more things in, land reclamation projects for, oil and gas. And, also, I’m excited to be involved in trying to look at land, reclamation for wind and solar. So pretty exciting stuff. Hang on for some more news on that coming around the corner. [00:15:04][122.3]

Stuart Turley: [00:15:05] China on our last story today calls for international investigation into Nord Stream attack. China’s deputy envoy to the UN has called for an international probe into the bombing of the Nord Stream, gas pipelines. This is a very interesting, especially since we had, Secretary Blinken meeting with president G. Yesterday, two days ago. This is actually very interesting because now China does not mince words. You can even go take a look at what plants they had in the meeting with Blinken. There’s a lot of hidden undertones in the backdrop and in the poisonous plants that were on that table. They don’t like him. And that was very evident. If you take a look and you understand the Chinese methodology of subtle hints in meetings, and it is there. Now let’s take a look at Nord Stream one and Nord Stream two. Those are four pipelines. Three of the four were destroyed, allegedly by the U.S. with help from Norway. Allegedly, I don’t know, but boy, Putin sure said, why would I blow up my own pipeline? I don’t know. He may. All he has do is go flip a switch on the generators, on the turbines, on the one end of it, and he could shut it down so he doesn’t really need to, turn it off. Now. Why are they call? Why is China calling for this? Now this is important because this has been going on since it was blown up, since, President Biden said there will be no Nord Stream, and then all of a sudden that happens. Was that, unbelievable? Funny story. I just had to just put it out here for you to take a look. If you have any insights on this, let us know. [00:17:08][122.6]

Stuart Turley: [00:17:09] Thank you to all of our wonderful listeners. Thank you to everyone that is subscribing, liking. And if you are an energy expert, I want to talk to you on conversations with them in energy. And also, I want to give a shout out to Michael for his, deal spotlight episodes that are going on. They are phenomenal. Check out all of our deal spotlights. I’m looking forward to working on some of the deals and spotlights that we have coming up. And also, taking a look at this deal actually worth working on. And as I get more involved in the solar and wind evaluations and reclamation, it’s going to be fun to say, is this a good deal at the end? Who’s going to pay for it? With that, subscribe. Like check out our, sub stack and we will see you guys next time. Thanks. [00:17:09][0.0][1008.0]

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