Daily Energy Standup Episode #127 – A Weekly Recap – Power Play: Biden’s Bold Emissions Rules, China’s Taiwan Invasion, and EU’s Energy Challenges

Biden EPA Announces Toughest-Ever Rules For Power Plant Emissions

Authored by Nathan Worcester via The Epoch Times (emphasis ours), After weeks of buildup, the Environmental Protection Agency (EPA) unveiled its strictest-ever rules for power produced using natural gas, coal, and oil that could spur […]

When China invades Taiwan – some energy consequences

China and Russia have a great deal in common. Both are authoritarian states, both lost territory in the twentieth century, and both are set on redressing those losses. Both are critical players in the world’s […]

EU raw material targets need money and faster permits, sector chief says

BRUSSELS, May 16 (Reuters) – The European Union will only meet ambitious targets to reduce its reliance on China and other countries for critical materials by rapidly scaled-up financing and accelerated permitting, according to the […]

French energy report seeks return of “energy sovereignty”

On 30 March, the French Parliament published a report entitled “D’enquête visant à établir les raisons de la perte de souveraineté et d’indépendance énergétique de la France” or “Inquiry aimed at establishing the reasons for the loss of sovereignty and […]

Highlights of the Podcast

00:00 – Intro
02:13 – Biden EPA Announces Toughest Ever Rules for Power Plant Emissions
06:54 – When China in invades Taiwan, there are some energy consequences
10:41 – EU raw material targets need money and faster permit sector chief says
13:25 – French Energy Report Seeks Return of Energy Sovereignty
17:21 – 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] Hey, Everybody, Welcome to The Energy News Beat Daily Stand Up Weekly Summary. Hey, we sure appreciate all of our great listeners and all of the folks that are hitting the EnergyNewsBeat.com website. I mean, it is going bonkers it is one of the very successful world news sites and we just appreciate everybody. We appreciate all the listeners that have been listening this week and our numbers are going through the roof on the podcast and is because of you Like Subscribe and send Michael and I notes, we are having such a blast. [00:00:53][38.0]

Stuart Turley: [00:00:53] I’m also really excited about the upcoming CEOs and Industry Thought Leadership Podcast we’re getting scheduled out there and I mean, I have a lot of fun. If you’re an industry thought leader in the energy or geopolitical space, give me a note shout out I’d love to have you on the podcast. If you are any kind of interested in you want to get your word out, let me know I want to hear from you. [00:01:21][27.5]

Stuart Turley: [00:01:21] Okay, there is some really big trends going on those trends are all around energy independence and also what countries are going to need to survive. Those countries need energy independence and in Europe, Sweden, and a few others are really looking to even they’re questioning whether or not they need to stay in the EU. Borders are a true issue in Europe, in my opinion borders are a real issue here in the United States. Countries that cannot survive if they don’t have energy independence and borders. [00:02:01][39.5]

Stuart Turley: [00:02:01] So with that hey, enjoy the shows this week that Michael and I did it has been a really busy week thank you and look forward to talking to you guys soon Have a Great Weekend!. [00:02:12][11.1]

Stuart Turley: [00:02:13] Biden EPA Announces Toughest Ever Rules for Power Plant Emissions. Michael, this is critical because it really dumps into some serious meat in the grid. The EPA unveiled its strictest ever rules for power producing, using natural gas, coal and oil that could spur the use of carbon capture technologies. [00:02:36][23.0]

Stuart Turley: [00:02:37] Carbon capture CCUS is not a bad thing, but let’s come down to what some of it is. It’s over 681 pages. The agency argued that CO firing hydrogen as a substitute for natural gas can qualify as a system’s emission reduction. So what they’re wanting to do is did a carbon net zero using anything they can. [00:03:02][25.1]

Stuart Turley: [00:03:02] Michael, this one paragraph and then the following Under it, the EPA recognizes even though the combustion of hydrogen is near zero, its production entails a range of greenhouse gas emissions from low to high, depending on the method. [00:03:19][16.2]

Stuart Turley: [00:03:19] The technology used to capture 90% of carbon dioxide has become adequately demonstrated and cost-reasonable while realizing substantial emission reductions. This is not true this is 100% not true. [00:03:35][15.6]

Stuart Turley: [00:03:36] Hydrogen In its creation, it uses about four times the amount of energy that is displaced when burned. It also uses a lot of water. Hydrogen, unless it’s being made by natural gas, is using a lot of water. So here’s this is just a total misnomer. It’s going to drive the price for electricity even higher. And it yeah, it’ll be sustainable, but the price is not there. [00:04:11][35.6]

Michael Tanner: [00:04:12] Yeah. And I think this is where the fundamental disagreement is with industry and then the EPA. Here’s a quote from the EPA spokesperson. The proposed limits and guidelines follow EPA’s traditional approach under the Clean Air Act to control pollution from stationary sources, this is the important part by relying on controlled technologies that are cost-effective and can be applied directly to power plants to reduce CO2. That’s exactly what we’re talking about Control technologies, carbon capture, thats CCUS. [00:04:41][28.8]

Michael Tanner: [00:04:42] So the question is, is that now cost effective? The EPA seems to think so. I don’t know if I necessarily agree with that, because I agree. They also claim in this report that technologies can capture 90% of carbon dioxide have become adequately demonstrated and cost reasonable while realizing substantial emissions reductions I think that’s I mean, we will see. [00:05:05][23.1]

Michael Tanner: [00:05:05] All I know is oil and Oxy, Exxon, Chevron, they’re gearing up for this. We saw in we saw in the latest off. shore did. That came for offshore oil leasing. [00:05:18][12.2]

Stuart Turley: [00:05:18] That is right. [00:05:19][0.4]

Michael Tanner: [00:05:19] Had some shallow, shallow stuff that was picked up in order to do some CCUS multitrillion-dollar by both Exxon and Chevron. We know Oxy is big into that. Oh, yes. They saw this coming down the pike. They’re not dumb. [00:05:29][10.2]

Stuart Turley: [00:05:30] No, it’s a multitrillion dollar market and I’m all for it, Michael the technology, just like in renewables, is not there yet. You know, natural gas is supposed to be the bridge fuel till we get there. 2030 is not that far off. 2035? We’re still not. In fact, the EU Prime Minister said we are stuck using fossil fuels for decades he said that last week. So at least somebody is admitting it. [00:06:02][32.3]

Michael Tanner: [00:06:02] Yeah, and you know, unfortunately, the EPA has fairly unilateral authority to just announce these rules and put them into it and put them into existence. So it’ll be interesting to see how these things play out. I think it’s time we get to our Comedy segments Stu. [00:06:16][13.9]

Stuart Turley: [00:06:17] Oh, yeah. U.S. climate envoy John Kerry in 2021 said America simply won’t have coal on its grid by 2030. The man is a ketchup magnate. I mean, he can’t have a hamburger without having o. His family is all the hind that’s where he’s got all of his money. What a knucklehead. You cannot pull coal off of the grid yet. And if you’re going to not support natural gas, we won’t make it. The man is a ketchup hound. [00:06:51][34.1]

Michael Tanner: [00:06:52] I’m a mustard guy myself. [00:06:53][1.1]

Stuart Turley: [00:06:54] When China in invades Taiwan, there are some energy consequences. You think? Okay, there are some similarities. The author of this article absolutely did great. There are first the first steps. China and Russia have similar and things in common. [00:07:14][20.1]

Stuart Turley: [00:07:15] Both are authoritarian states and both lost territory in the 20th century both are set on redressing and attacking again. We already got one of them attacking Ukraine China has been groping around on this for a long time. President XI has got some real problems with his economy and in the past, whenever a communist leader has got some problems, they declare war on somebody. [00:07:40][25.9]

Michael Tanner: [00:07:42] Well, it’s an easy way to stimulate your own economy at home because you have to begin to up your production. I mean, it’s it’s an unfortunate reason, but there’s an oddly tactical reason for it. [00:07:53][11.6]

Stuart Turley: [00:07:54] Oh. Exactly! there the scale of this shot. Assume for a moment this is one of the paragraphs in here that China launches a full scale invasion tomorrow. And imagine that the Taiwanese people and its military do not surrender instantly as the Ukrainians were supposed to do. Imagine the headlines. Imagine the political response and imagine the economic fallout. Holy smokes. [00:08:18][24.4]

Stuart Turley: [00:08:18] Think about the world’s economy, stopping and wondering what’s going to go on. It would be even a bigger shock if the U.S. plus or minus allies retaliated militarily. There’s even some more things in here. This is the energy policy challenges of Europe I mean, of China. [00:08:39][20.5]

Stuart Turley: [00:08:40] They don’t care, They have all they’ve been doing the rare earth minerals for 20 years. And now all of a sudden, all of our country is sitting there going, we’re going to go to EVs. We got to have rare earth minerals and critical minerals. And it takes how many years. Michael, my beloved School of Mines graduate, takes a long time to dig a hole doesnt it? [00:09:05][25.2]

Michael Tanner: [00:09:07] Mines are 50 year investments you know, I think this article points out that we’ve at least done a decent job of recognizing that China is a threat on this, you know, through the CHIPS Act. And, you know,. [00:09:18][11.6]

Stuart Turley: [00:09:19] Yes! [00:09:19][0.0]

Michael Tanner: [00:09:19] Okay. Job of saying that, Okay they are a threat on this on this infrastructure side. We’ve passed the CHIPS act. I think you know where the energy policy gets dicey specifically with when China invades Taiwan, if that’s what the sentiment we’re going to it’s going to be that clean energy economy that’s where the ripple effect is through. They own the critical minerals supply chain. It’s going to be very hard for us to in an instant get lithium, nickel, copper, cobalt, of all things do. [00:09:45][26.3]

Stuart Turley: [00:09:46] Wind turbines, solar panels? [00:09:47][1.6]

Michael Tanner: [00:09:48] Yup. [00:09:48][0.0]

Stuart Turley: [00:09:48] And if we destroy the natural gas machine… [00:09:51][3.3]

Michael Tanner: [00:09:53] We’re not going to be able to pick that machine up you’re exactly right. And that’s where it’s going to hurt us, is we’re going to end up with way more demand than we have in dispatchable power and are not going to be able to do. [00:10:03][10.2]

Michael Tanner: [00:10:03] So I think, you know, this article goes on to point out the dangers of the gradualist approach, which I think is key. We can’t just we can’t do death by a thousand cuts you’ve got to cut the head off the snake now. When we cut the head off the snake, secure our own supply chain. China is going to do what China is going to do we’ve got to secure our own supply chain so that when the inevitable happens, we’re good to go. [00:10:25][22.1]

Stuart Turley: [00:10:26] Oh, well said well said. Dude! [00:10:28][2.7]

Michael Tanner: [00:10:30] Michael Tanner, Secretary of State. 2024? [00:10:31][1.6]

Stuart Turley: [00:10:32] I think so you would actually you would absolutely. Hey, I’d vote for him let me call Trump. [00:10:39][6.8]

Michael Tanner: [00:10:39] Yeah, no kidding. [00:10:40][0.6]

Stuart Turley: [00:10:41] EU raw material targets need money and faster permit sector chief says Michael, We can’t grow the grid in the US. We can’t supply EVs without critical minerals. We can’t get to carbon net zero without critical minerals or Natural gas or Nuclear. [00:11:03][22.7]

Stuart Turley: [00:11:04] So as President Bush would say, Nuclear under the EU Critical Raw Materials Act, which has yet to enter force, the bloc has set 2030 targets for the minerals required for its green transition. 10% of annual needs mined, 15% recycled and 40% processed in Europe. Those are unattainable numbers. [00:11:29][25.0]

Michael Tanner: [00:11:30] Yeah I mean, was there any lithium in Europe there? No, of course not what are they going to do? [00:11:34][4.0]

Stuart Turley: [00:11:34] Take it from there? Yeah, I don’t know. [00:11:36][2.1]

Michael Tanner: [00:11:37] It’s going to be there in Poland for lithium. [00:11:38][1.3]

Stuart Turley: [00:11:39] Oh, Smack! [00:11:40][0.9]

Michael Tanner: [00:11:42] Good. [00:11:42][0.0]

Stuart Turley: [00:11:43] Bernard Schaefer, CEO of the EIA Raw Materials and EU funded group there’s some. [00:11:49][6.3]

Michael Tanner: [00:11:50] There’s some dark money that’s about as dark as it gets. [00:11:53][3.0]

Stuart Turley: [00:11:54] I was going to say there’s corruption, right to happen… [00:11:55][1.5]

Michael Tanner: [00:11:56] The Climate Group I bet that’s a creepy guy. I bet that guy’s Got I mean, that guy’s creepy at parties. [00:12:02][6.0]

Stuart Turley: [00:12:03] Oh, yeah. Oh, I bet he knows Epstein. Okay. One of the key elements to accelerate investment and mobilize financing for mining and permitting this will have to happen very soon. Michael. Japan. Excuse me. China has had 20 years of building their supply chain and critical minerals. You’re not going to go public at the time I need a supply chain of minerals. It’s not going to happen. [00:12:29][26.3]

Michael Tanner: [00:12:30] Yeah, they’re not. I mean, this is it is funny how they state, you know, it is like what we said in the open. It’s like that scene from Back to the future. Elon replied. Anybody home? Hello, McFly!. You’ve been asleep at the wheel now for 20 years wake up now. Oh, we need faster Permitting in mining they’re clearly not listening to the show. We clearly don’t quite have Brussels listening to the show. [00:12:54][24.3]

Stuart Turley: [00:12:54] Oh, no, not yet. Norway and Russia, we are big news source and for the Russians, let’s hope. [00:13:02][7.6]

Michael Tanner: [00:13:02] Of course you are Putin jr. [00:13:04][1.5]

Stuart Turley: [00:13:06] EY they want to know my my imitation of Putin. I am so funny in Russia. [00:13:11][4.3]

Michael Tanner: [00:13:12] I hope he likes our impression enough to wear when he shoots points the nukes he points it away from us. [00:13:18][6.3]

Stuart Turley: [00:13:19] Oh yeah, well, he didn’t call me, you know. [00:13:22][2.7]

Michael Tanner: [00:13:23] Who knows Putin Jr. [00:13:24][0.9]

Stuart Turley: [00:13:25] French Energy Report Seeks Return of Energy Sovereignty. France used to be Michael, the number one exporter of energy in the EU. Now that they have spent no money on their nuclear fleet, again, 51-52 nuclear reactors, they are only using 25% because of maintenance. [00:13:47][22.3]

Michael Tanner: [00:13:48] Insane. [00:13:48][0.0]

Stuart Turley: [00:13:50] It’s insane. I love this quote I’m not going to read this in French because I can barely speak English. Michael, the French parliament published a report entitled Z will be opening it. So, you know, I, I can’t even pretend to say that everybody go to Energy News Beat and read it,. [00:14:08][18.4]

Stuart Turley: [00:14:08] But I love it I can come down in here and say how what led to the situation described as a total loss of energy sovereignty and how did the entire country go from a leading energy exporter to former High Commissioner for Atomic Energy Yebs Breke described as a quote unquote headless duck? [00:14:31][22.8]

Michael Tanner: [00:14:32] Well, listen, it gets even more insane so the opening of this report says basically that the only reason that they didn’t they avoided blackouts this winter was through a combination of lower industrial output and a decline in corporate levels of ordinary season we started admitting it. [00:14:50][17.9]

Michael Tanner: [00:14:50] So It’s I mean, I’ll I’ll applaud them for at least stating what happened you know, they’re not lying to their people. I think the issue is, okay, if you’re French now, what do you do moving forward? You’ve got to react. You’ve got to turn on some of those nuclear reactors. You have to! [00:15:06][15.7]

Stuart Turley: [00:15:06] Can’t. You can’t because they’ve been maintenance and maintenance then. Now they’re the water pipes are rusted they’re not they can’t even use them now. It’s it’s going to cost more to put them back online. This is like California, stupid. One of the I’m sorry. Even Scooby would go Huh!. [00:15:27][21.1]

Michael Tanner: [00:15:28] Freaking out over this. [00:15:29][0.8]

Stuart Turley: [00:15:29] Oh, yeah. Scooby, He’s going to lose his French. Scooby Crusunt on, you know, instead of a Scooby snack. Okay, Final energy consumption in France. You have oil and refined products. Michael. When you go down, you see that chart on there. We may have to have our producer slide this chart in here. Oil and refined products is over 50% of their energy. [00:15:54][25.1]

Michael Tanner: [00:15:55] Yeah, it’s not good that’s not good. [00:15:56][1.5]

Stuart Turley: [00:15:57] No! [00:15:57][0.0]

Michael Tanner: [00:15:58] It’s not good that’s way too much oil you need they got to get that on natural gas it’s absolutely insane. [00:16:02][4.7]

Stuart Turley: [00:16:03] Oh, yeah,. [00:16:03][0.3]

Michael Tanner: [00:16:04] I will. I won’t be visiting France anytime soon. [00:16:06][1.9]

Stuart Turley: [00:16:07] Okay, Underlying second, cause you always love your second order magnitude things. [00:16:13][5.9]

Michael Tanner: [00:16:14] Yes. Yes. [00:16:14][0.6]

Stuart Turley: [00:16:15] We’re seeing a real call for the EU as an organization to be dissolved. And I think that this is only one of the underlying reasons you’re going to see this come around the corner with energy sovereignty in a nation. A nation has to have energy independence and borders in order to survive this is going to be the demise of the EU anyway. [00:16:43][28.4]

Michael Tanner: [00:16:44] Interesting. [00:16:44][0.0]

Stuart Turley: [00:16:45] Yeah, you heard it here. Second. [00:16:46][1.1]

Stuart Turley: [00:16:47] Hey, thank you again for your time this week. We just appreciate all of our good customers and clients and also all the listeners for The Energy News Beat Daily Stand Up and also The ENB Podcast. Thanks! [00:17:03][16.5]

Stuart Turley: [00:17:03] Give us a shout out, Give us a light, give us a five star smash hit that I’m just trying to talk like a young podcaster. I’m having too much fun. Have a great weekend! Talk to you soon. [00:17:03][0.0]